Obama Plummets to 45% Approval; S&P Rallies

Obama now gets a 45% approval according to Zogby. No president in history has ever seen his popularity drop so fast.

Interestingly, Jim Cramer on CNBC yesterday showed a chart comparing the S&P 500 with Obama's approval ratings. The correlation was uncanny - as soon as Obama's numbers started going down, the S&P started going up. From Seeking Alpha:

Cramer has found a direct correlation between two charts: that of the S&P 500 and Obama's disapproval rating, and both have been rising at the same pace since March. This is no coincidence; many of Obama's lofty proposals, such as cap and trade legislation, forced arbitration for unions and healhcare reform are not seen as business-friendly. Now that many of these reforms are off the table, the stock market is breathing a sigh of relief.

Not very surprising at all...keep in mind - Cramer is a liberal and he used to love Obama.