Obama Bear Market Continues

The precipitous decline in the stock market since Obama was elected continues. The Dow has closed below 8000. Is 6000 the next stop?

Let's see, what might be some reasons for the decline?

Obama's promise to increase taxes, particularly taxes on dividends and capital gains.

A government under the control of Democrats in both the Executive and Legislative branches.

The Democrat's impending bail out of the UAW, which will divert resources from productive areas of the economy to one of the least productive industries in the US.

The push for unionization of large swaths of the American economy, which will raise costs, lower productivity, and lower profits.

So-called "universal health care," which will be enormously expensive while reducing incentives for people to be gainfully employed.

The upside: We don't have to worry so much about Obama "spreading the wealth around." A large part of the country's wealth is in the stock market. The Obama Bear Market is ensuring that there is very little wealth left in that pot to spread around.

So, Seattle, you got what you wanted. A "feel good" election. What's next?