Most of us over the age of 40 can still remember the Dragnet series. I used to get a kick out of Joe Friday asking questions, dispensing with ignorant gossip and personal opinions with: “Just the facts, Ma'm.” I think a few money managers and conservative pundits need to watch some Dragnet reruns.
I was reading through my e-mail inbox this morning, and the usual daily market news from Newsmax was there. The subject heading read: “If the Democrats Win Watch Your Wallet.” I don’t know how many times I’ve seen this or similar commentary. Usually it’s some blowhard on FOX lamenting the coming economic apocalypse if a Democratic candidate wins the White House. Does their ignorance know no bounds? Here are the simple facts.
Using the Dow Jones industrial average as the benchmark, if you had invested $10,000 in 1901 and kept it in during republican presidencies you would have $78,699 by 2005. However, if you had taken the same $10,000 and put it in the market under Democratic presidents, by 2005 you would have a whopping $279,705!
Just the facts, Ma'm. Just the facts.