Below we highlight the performance of the S&P 500 and its ten sectors from the time we knew Bush was going to be President in 2000 through yesterday's close. We also break out the performance during Bush's second term, as well as the performance of oil, gold and the dollar.
Up until late last year, it looked as if Bush was going to see gains in the stock market during his Presidency. The credit crisis, however, spoiled those plans, and the S&P 500 is now down 29.53% from 12/12/2000 (the day Florida was decided) through today. Since election day 2004, the S&P 500 is down 14.53%.
On a sector basis, Technology is down the most since 12/12/2000 at -56.7%. Tech is trailed by Telecom and Financials on the downside. Only three sectors have seen gains during the Bush Presidency -- Consumer Staples, Materials, and Energy. The Energy sector is up by far the most at 70.96%. Oil is up 120% during the Bush years as well. For Bush opponents who claimed he was a hack for the oil industry from day one, these numbers provide significant ammo.
Regardless of why you think the market did what it did over the last 8 years and who was to blame, the numbers are what they are, and they don't look good for President Bush.
These numbers are staggering considering how oil has fallen from $145 a barrel to under $65 in the last few months, and that energy stocks have also gotten crushed in that time frame.
Posted by: Murray | November 04, 2008 at 09:08 AM
Well no kidding ,Murray, now ask yourself was it real or was it guys like Soros wanting there "one" in the white box
Posted by: dj | November 04, 2008 at 09:34 AM