With the Dow Jones Industrial Average down a full 4% on the day - finishing below 8000 points for the first time in nearly two months - the Dow fell more than it has on the inauguration day of a first-time president. Granted, inauguration days aren’t generally upbeat sessions - of the 14 inaugurations of first-time presidents conducted since 1900, just three have resulted in gains for the market, according to Thomas Lee, a strategist at JPMorgan. But this one proved nearly twice as dismal as the previous holder of the title of worst inauguration day, that being the 2.3% decline of Herbert Hoover in 1929.

above is from Barron’s Blogs

funny, I published another in the series of posts here on civics literacy and it featured Herbert Hoover and the parallels between then and now.

While I personally believe it is too early to conclude much about the Obama administration there is certainly no reason to be optimistic about anything coming outta Washington for the forseeable future.

Thanks for stoppin’ in and the commentary.