Category: 
by Obama Pundit
Note how the markets dove in the early Obama presidency and have risen sharply since early March:
This trend closely aligns with Rasmussen’s approval ratings of Obama. In the early going, Obama garnered strong approval ratings and appeared to have control of the agenda in Washington. When his stimulus bill passed on Feb. 17, his net approval was +15 and his overall rating was a healthy 61 percent.
However, around late February and early March is when Obama starting charting below 60 percent approval rating in Rasmussen. That’s also exactly when the Dow started to climb. It took off when, on March 6, Obama plunged from a +15 approval gap to a +8. He hasn’t been above +10 for more than a day at a time since.
Even more revealing, the steepest climb in the Dow which occurred starting in early July also coincided with Obama sinking to a net negative approval rating on Rasmussen’s tracker. On June 30, Obama went into negative territory for the first time. The Dow began its steep climb right after the 4th of July weekend and went up sharply for the next two weeks, just as Obama’s negatives rose to a net -12 in Rasmussen.
What to make of all this? I think it’s pretty simple: The markets see the stimulus as a political failure, the budget deficits are scaring people (thus creating an impetus for future reduction in said deficits), the Climate Bill is dead on arrival and the proposed health care plan is wildly unpopular.
So the markets are rising because they see Obama turning into a weak President. They are betting that as Obama’s approval ratings go down, the prospects for the American economy will go up.
At this point, it looks like a safe bet.
