Saturday, August 1, 2009

Absurd Critiques of President Obama

If the early weeks of President Barack Obama's administration, a popular tactic of conservative critics was to suggest declines in the stock market were evidence of his failures.

An Example:
Obama Stock Market Performance: Dow Jones Under Obama - by Ignatius Reilly.

Now that the Dow Jones Industrial Average is back over 9000, will these pundits publish commentaries praising his successes?
Were these writers equally critical when the stock market declined under Republican leadership?

Stock markets rise and fall based on factors that are largely independent of the President of the United States. To imply such a direct connection without justifications is absurd. Correlation does not imply causation. Just because the stock market declined in the early months of Obama's presidency in no way implies he deserves the blame (or the credit for its recent recovery).

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