FREDO, THE S&P 500 AND WINGNUT LIES

(h/t Barry Ritholtz at The Big Picture)

Spencer at the Angry Bear did a little homework and found that the S&P 500 is back where it was when Fredo became President. Here's the graph:

Stuart Levine in comments observes that if one adjusts for the decline in the dollar's value, the S&P 500 has lost about 30% of its value under Fredo. Here's a wingnut lie, also in comments, that refuses to die:

If you look at it properly you will see that Bush's policies got us out of the Clinton recession that started in Feb of 2000. Then the Dems took control of congress in 07 and look what happened to the stock market. If you look back to Clinton's presidency, you will see that it wasn't until the Republicans took over congress that the market began to shoot up. Do your research, it's true.

truckie 06.20.08 - 7:25 pm #

As I've noted before, the recession started in March 2001 and even Bush has admitted that:

For Immediate Release
Office of the Press Secretary
December 15, 2001
THE PRESIDENT: Good morning. As too many Americans know firsthand, the economy began to slow early last year, and terrorism has hit us hard. . This bipartisan package will give workers who have lost a job since the recession began last March an additional 13 weeks of unemployment benefits.
http://www.whitehouse.gov/news/releases/2001/12/20011215.html