The National Chronicle

Dow Up Over 4,500 Since Obama Inauguration

National Chronicle Staff — Fri, 22 Apr 2011 02:47:39 +0000

The Dow Jones Industrial Average closed at 12,505 on Thursday night, up 4,556 points since President Obama’s inauguration.

While conservative politicians and pundits have attacked Obama for being a socialist or worse (Fox’s Glenn Beck accused him of being a racist), the President’s tenure so far has been a boom to capitalism. On January 20, 2009, the stock market closed at 7,949.

Wall Street Bull

In Obama’s first few months, the market continued to fall as the effects of the Bush recession continued to ravage the country. Now, after passage of the economic stimulus act along with the bailout of General Motors, the markets appear to be applauding Obama’s policies.

Dow Chart During Obama Presidency

By comparison, the market lost over 3,400 points over the 8 years of George W. Bush’s presidency.

Republican plans to vote against raising the debt ceiling could negate the gains, however, as their failure to do so would shake confidence in the American economy.

Trump’s Wealth Claims Don’t Add Up

National Chronicle Staff — Fri, 22 Apr 2011 02:22:15 +0000

Donald Trump, reality show host and real estate tycoon, has been on a media tour touting his alleged qualifications as a presidential candidate. While his promotion of the discredited conspiracy theory that President Obama was not born in America has received the most scrutiny, Trump’s claims about his wealth have flown under the radar.

A CNN analysis finds that Trump’s insistence that he is worth billions don’t stand up to scrutiny.

* Trump said his golf course complex was worth $360 million, yet three years before it was only valued at $30 million.

* Trump said he was paid $400,000 in speaking fees — but he included $600,000 he was paid for an advertising campaign as part of that payment.

* Trump claims his net worth is anywhere from $3.5 billion to $7 billion. In fact, bank analysis of Trump’s assets values them at $788 million to $ 1.2 billion.

In the video segment below, CNN’s Eliot Spitzer probes further into Trump’s money claims.

Trump image via Gage Skidmore