I really wouldn't be suprised given that the incomming Obama administration had not only inherited a true mess but had made a rather poor start to address it:
- whenever the new President speaks, the DOW goes south.
- whenever the new Treasuries Secretary speaks, the DOW plunges.
Americans have a relatively short memory, and sooner than later they'll attach the current economic conditions to Obama rather than Bush.
Given that Obama's selected officials have all turned out to be duds, it's reasonable to assume that an extended PPP buy order could have been in play, propping up the DOW to 8000....
However given that the US isn't the land of rational thought or logic - who really knows?
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