The Obama Economy
Three weeks before Barack Obama assumed the presidency, the Dow Jones Industrial Average closed at 9034 - the highest closing since the autumn panic. However, the Dow has declined 25 percent over the past two months - to its lowest level since 1997. Considering that the monetary ease from the Federal Reserve and other central banks has increased liquidity and costs have significantly decreased for oil, other commodities and housing, the only change explaining the decline has been Obama's approach to governance.
Source: WSJ.com | March 3, 2009