"Markets rise and fall independently of presidents"<quoted text>I have to agree with you but I don't attribute my being better off to our president. Markets rise and fall independently of presidents and I made a small fortune during the Bush years and I continue to do so during Obama's reign by investing wisely in things I can use to make money and still sell. I could care less about my home's value because I never intend to sell it. That was my very first investment and it started with a savings account for land and house. it came before my first car. BTW I started driving 2 weeks after I turned 16
Markets react to many factors and the President of the USA is a major factor in any market reaction.
When Bush appointed Paul O'Neill as secretary of the treasury, the markets remained confident but in 2002 O'Neil suggested the United States faced future federal budget deficits of more than $500 billion and suggested that sharp tax increases, massive spending cuts, or both, the markets slowed. When O'Neil told us that the neoconservative elements of the Bush Administration had been planning war in Iraq since the first National Security Council meeting, soon after the administration took office, Bush fired O'Neil and appointed yes man John W. Snow as Treasury secretary who was forced to resign over a stock deal he made with Fanney Mae/Freddy Mac so Bush appointed the CEO of Goldman Sachs, Henry Paulson as Treasury secretary and he handed $700 billion dollars back to his buddies on Wall Street.
Everything Bush did in his eight years caused the markets to rise for the crooked bankers and war profiteers but for everyone else....doom.
President Obama brought confidence back to the markets. Gone were the days of "off books" government spending and "no bid" government contracts. Watch dogs were posted on Wall Street and financial regulations were being enforced once again. All the jobs lost under Bush/Cheney were gained back under Obama and the future keeps looking brighter for the land of the free.
Obama is AWESOME!!!