Worst stock market for an incumbent since '84 (but it didn't matter then, did it?)

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The stock market is giving President Barack Obama the worst returns since Ronald Reagan was seeking a second term,” Bloomberg notes. “The Standard & Poor’s Index is up 1.3 percent since Mitt Romney’s campaign began 12 months ago, compared with average gains of 12 percent for incumbents who won re-election starting with Harry S. Truman…Stocks are also advancing less than the 7 percent minimum enjoyed by George H.W. Bush, Jimmy Carter and Gerald Ford, who lost their bids for a second term. The only one with a worse equity performance heading into the vote was Reagan…While share returns do little to foretell presidential contests, the 8.7 percent decline in the S&P since April 2 may be a sign investors are losing confidence in an accelerating recovery even as they anticipate more central bank spending to stimulate the economy.”

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.