Clinton’s record was helped by the popularization of the Internet, which resulted in a “dot-com” bubble. Fortunately for him and his record, the bubble burst after he left office, leaving G. W. Bush a recession on his hands early in his first term.
But never mind Clinton, the stock market is doing great under Obama!!
During Clinton’s time in office, the S&P 500 rose 193%. That’s an average increase of 24% a year. Since Obama took in office, the S&P 500 has risen 190%, but Obama’s term isn’t over yet. That’s an annual rate of growth of 30%.
Do you feel like the economy is soaring along? Do you feel better off today than you did eight years ago? A bear stock market such as the one we have now helps the “1%.” This is why “income inequality” (if you care about such things) has become worse under Obama’s watch.
Producing a great stock market is not rocket science. All it requires is pressuring the Fed to keep interest rates low (forcing investors away from bonds and into the stock market) and printing lots of money that is given to Goldman Sachs (a.k.a., “quantitative easing”) to ensure that Wall Street investors have lots of money to invest.
Presto! Instant bull market!
It all works well until the rest of the world begins to realize how crazy it all is and how worthless American fiat money is becoming. That’s when the fecal matter impacts the rotary impeller. But by then, Obama will be out of office and charging tens of thousands of dollars per speech.
And people will be saying about the man, “Great stock market under Obama.”