Let's repeat this quote again in its full context so that it can sink in:
“We’ve had a phenomenal run in asset classes across the board,” said Dan Greenhaus, chief economic strategist for Miller Tabak & Co. in New York. “If he was a Republican, we would hear a never-ending drumbeat of news stories about markets voting in favor of the president.” Link
This quote comes from an article from Bloomberg.com, which is titled "
Obama Defies Pessimists as Rising Economy Converges With Stocks." The article goes on to cite some pretty impressive economic accomplishments that have occurred since President Obama took office:
One year after U.S stocks hit their post-financial-crisis low on March 9, 2009, the benchmark Standard & Poor’s 500 Index has risen more than 68 percent, and it’s up more than 41 percent since Obama took office. Credit spreads have narrowed. Commodity prices have surged. Housing prices have stabilized.
The economy has also strengthened beyond expectations at the time Obama took office. The gross domestic product grew at a 5.9 percent annual pace in the fourth quarter, compared with a median forecast of 2.0 percent in a Bloomberg survey of economists a week before Obama’s Jan. 20, 2009, inauguration. The median forecast for GDP growth this year is 3.0 percent, according to Bloomberg’s February survey of economists, versus 2.1 percent for 2010 in the survey taken 13 months earlier.
What makes this article even more remarkable is that it flies in the face of two myths that continue to be perpetuated — President Obama has not done a good job handling the economy and the media has a liberal bias. If Obama was doing a poor job handling the economy, I'd be curious what a good job would look like. And if the media had a liberal bias, why doesn't anyone know about these accomplishments?
