The Dow Jones industrial average plummeted during President George W. Bush’s time in office, in a way not seen since Herbert Hoover’s term during the Great Depression. That makes Bush the first president since Richard Nixon to preside over a declining Dow. In percentage terms, Bush’s 21.8 percent Dow drop is the worst showing since an 83.2 percent decline under President Herbert Hoover, whose term included the 1929 stock-market crash.
During the entire ramp-up of the Dow I claimed the market was too high. When the crash began I said the Dow should settle around 8500. While it’s nice to be right there is no joy as the economy continues to deteriorate. Interest rates fueled the problem, while many people claim the Bush administration manufactured an economy using our home equity. Dropping Americans flat at the end of Bush’s term is not new for George Bush.
The main reason Bush failed to secure a clear win as President, and failed to get the popular vote, is because historically he always left situations in shambles. America, as Bush leaves office, is no exception.
Hi, I'm Jen and I'm here to help. Submit your complaint here or get help here
This article, Bush leaves America in shambles just like his other projects, is just one of our articles from our Mortgage Crisis Daily
The Subprime Mortgage Crisis Before, During, and After
Mortgage Crisis Daily monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.
We use Thomson Reuters News Service Calais in all production material but are not associated with Thomson Reuters, banks, or financial institutions in any way.
