If this is Socialism, call me Comrade
Posted By Global Macro Monitor On January 1, 2011 @ 7:40 am In Investing,Politics,Think Tank | Comments Disabled
Global Macro Monitor [1] produces informed opinion about markets and the global economy. This was originally published on December 31, 2010 [2]
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No politics or partisanship here, “just the facts ma’am”. The stock market as measured by the S&P500 is up just about 50 percent since President Obama’s inauguration to today’s close. Only Eisenhowser comes close, but not even in the same zip code. A 50 percent stock move does a lot “spreading the wealth around [3]” and Joe the Plumber’s pension is in much better shape today than it was in November 2008!
Sure, sure, there are a ton of reasons to explain the differences, but this is politics folks! A CapEX spending led economic acceleration and pick-up in hiring in 2011, which usually follows such a strong equity performance, will make the President look unbeatable same time next year, in our opinion. Stay tuned.
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Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2011/01/if-this-is-socialism-call-me-comrade/
URLs in this post:
[1] Global Macro Monitor: http://macromon.wordpress.com/
[2] December 31, 2010: http://macromon.wordpress.com/2010/12/31/if-this-socialism-call-me-comrade/
[3] spreading the wealth around: http://blogs.abcnews.com/politicalradar/2008/10/palin-invokes-s.html
[4] Image: http://macromon.files.wordpress.com/2010/12/prezperformance.jpg
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