Stocks 1999-2009: Worst. Decade. Ever. | The Big Picture (external - login to view)
For Stocks, the Worst Decade Ever - WSJ.com (external - login to view)
I was really surprised to read this. They had the Great Depression in the 30s, there was the famous stock market crash in the 30s, people jumped from buildings and committed suicide. Then there was the stagflation of the 70s, markets did tank then big time. We also had 1986 stock market crash. I would have though that one of those periods would be the worst decade for stocks.
But apparently not, the decade just ending was the worst decade ever on record for stocks. We did have two huge meltdowns, two huge bear markets in this decade, the 2001 2002 bursting of the dot com bubble and the current meltdown.
Indeed, in this respect, the contrast between Clinton stock market and Bush stock market couldnt be more vivid, more marked. The best calendar decade was the 90s, the Clinton years, when stock market climbed at an average rate of 17.6% per years. That was the best performance ever.
We followed the best performance ever by the worst performance ever, the Bush years. Stocks went down average of 0.5 % per year.
Now, it has been well known that stock markets perform better under Democratic presidents that they do under Republican presidents, all the statistics show that. But this is an extreme, where we followed the best decade ever (Clinton decade) with the worst decade ever (Bush decade).
No wonder Bush left office with approval rating of 22%, half that of Carter (he left office with an approval rating of 44%).