The Democrat Bear Markets

Doug Ross:

• November 1992: Clinton elected President, Dow = 3240

• November 1994: Republicans retake control of the House and Senate, Dow = 3807

• June 2001: Jim Jeffords gives control of the Senate to the Democrats, Dow = 10,990

• November 2002: Republicans retake Senate, Dow = 8537

• November 2006: Democrats retake control of House & Senate, Dow = 12,342

• November 2008: Obama elected President, Dow = 8943

• Today, little more than three months since Obama was elected President, Dow = 7350.

Let's review. During the first two years of Clinton, while the Democrats retained control of the House and Senate, the Dow increased slightly.

In 1994, the Republicans took control of the House and Senate. The Dow exploded, increasing at an annual rate of almost 18% per year for the next six-and-one-half years, the entire period while the Republicans remained in control.

In June 2001, the Democrats regained control of the Senate. The Dow then plunged at an annual rate of almost -16% until November 2002, when the GOP retook the Senate.

From November 2002 until November 2006, the Dow increased at a rate of over 20% per year, until the Democrats regained control of both the House and the Senate.

In November 2006, the Democrats regained control of both the House and Senate. During the first two years of Democrat control (from November 2006 to November 2008), the Dow plunged at an annual rate of almost -15% annually. Since the Democrats gained control of the House and Senate in November 2006, the Dow has dropped -40% or a total of almost 4500 points.

Since Obama was elected President, the Dow has continued to plunge, and is down over 17% in the three months since election day.

...
Doug also has a graph worth checking out. It seems pretty clear that Democrats see profits as something to exploit for tax purposes and Republicans see the value of the growth of the economy. It seems pretty clear that if we have any growth at all under Obama it will not be robust.

Remember when Minority Leader Dick Gephart said for every 100 point drop in the Dow the Democrats picked up a House seat? I don't know if that will be true for Republicans, but I do think we will pick up seats next year. The RNC should be making T-shirts using Doug's graph.

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