Twice as Bad as Hoover

“George W. Bush is shattering records for the worst first 18 months in office for a U.S. president as measured by the benchmark Standard & Poor’s 500. In his first year-and-a-half in the White House, Bush presided over a 36.9 percent decline, almost twice the percentage drop of Herbert Hoover, the president who led the nation into the Depression…

Ironically, given the Republicans’ business-friendly reputation, the four worst performing stock-market presidents in the first 18 months are all Republicans. Ronald Reagan’s 15.3 percent decline joins Hoover, Nixon and Bush at the bottom. The top two performing presidents, as measured by the S&P in their first 18 months, are Democrats, Lyndon Johnson at a plus 27.5 percent and Franklin Roosevelt at 55.1 percent…

Though some presidents reversed the early returns of the stock markets, Bush has so far failed to inspire confidence either with his personal performance or his policies. The stock market has greeted speech after speech by Bush with double-digit declines in the Dow.” The Consortium