Problem Very Easily Solved
Shoot one down. Or at least shoot and miss...but shoot.
Manny Mota...Mota...Mota (OK, not a helpful title...this blog is mostly about Economics, the Markets, Politics...and during the football season also about the New York Giants)
“One of the constants that I’ve had to deal with over the last few years is folks on Wall Street complaining, even as the stock market went from in the 6,000s to 16,000 or 17,000,” he said, referring to the rise in the Dow Jones Industrial Average during his administration.I can't update my analysis on this just now, but let me reiterate my basic thesis about Obama and the stock market: 1) what, in general, has been bad for Barack Obama has been good for the stock market; and, 2) the stock market expected 3 very bad things to come of the Obama era, and when it became apparent that only one would materialize, it rose on the reduction of fear rather than on a wave of optimism. My key posts outlining this are here and here and here. And here is the gist:
...despite re-election, Barack Obama's popularity has gone consistently down and his power has consistently ebbed since the day he took office. Even at the supposed height of his influence, he had to scrape, scrounge and have Harry Reid pull a few sneaky tricks to get his signature legislation through. Beyond that his accomplishments have been nearly nil, and, in my view, the stock market loves it.The market had big legs up in response, or in absorbing the reality even before the fact, to major Obama defeats, the 2010 midterm elections and the 2014 loss of the Senate. In general, however, the Obama tenure has been one of slowly eroding power and influence and the market has melted up. It picked up on his ineffectuality long ago. For the last year or so, it has been discounting what a post-Obama world might look like.
It has been an exceptionally painful year for Venezuelans, suffering from violent crime, chronic shortages, plummeting oil prices on which they depend, declining health and fractured government. Yet this past week it seemed to reach a new low. A kind of resigned misery spread across a city that had once been the envy of Latin America.
A sudden combination of natural disasters joined man-made failures. The smog, called calima, is a meteorological phenomenon that involves ash and dust clouds fairly common for this time of year. Meanwhile a prolonged drought blamed on El Nino and related forest fires has arrived. Levels at the Guri dam in the south, which produces 40 percent of the country’s electricity, are reaching record lows.Bad year? Venezuela has been headed down the toilet for years and years as Chavez and now Maduro have destroyed the economy with their aggressive state-directed, oil-funded socialism.