Since 1950, the annualized S&P500 volatility is 15.5%. The one-day annualized volatility for the Aug SPY at-the-money options is 11% (i.e., expiring tomorrow). This is good news for Obama and the stock market. The chart below shows the implied vol in light blue, a 30-day actual trailing vol in white, from 2006-present.
Barry Ritholz links to a MarketTech report post that shows that VIX lows are good times to short the market (see below for VIX chart back to late 2011). As the VIX and SPY are inversely correlated, this is really like saying that if you short the market at historical highs, it would be a good strategy. The problem, of course, is that highs and lows are determined ex post. In real time, it isn't clear the VIX is at a low. For instance, the VIX stayed at this level from 1992-1995, and from 2004-06. Just ask those who shorted USTreasuries at 'historic' lows over the past 20 years.