Obama Era Marked by Steep, Continuing Stock Market Declines

Discussion in 'Politics' started by Revmitchell, Mar 5, 2009.

  1. Revmitchell

    Revmitchell
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    President Barack Obama’s first five weeks in office have been marked by sharp declines in U.S. stock markets, as the economy has continued to decline despite numerous legislative proposals from Congress and the administration aimed at stabilizing it.

    Since Jan. 20, the nation’s largest stock market, the New York Stock Exchange’s Composite Index has declined steadily, losing 441 points, or $895 billion in value. The country’s second largest market, the NASDAQ, has also declined since Obama was sworn in, falling from 1,440 to 1,321 points, a 119 point drop.

    More Here
     
  2. OldRegular

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    Well it is my contention that O'bama intends to bankrupt the country. I hope that I am proven wrong or that people wake up and stop him. It appears that some so-called blue dog democrats have been awakened out of their stupor. I don't have much hope for the RHINO's Spector, Collins, and Snowe.
     
  3. Steven2006

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    Obama definitely has not helped the market. But in fairness it has been in the tank for a while now.
     
  4. Revmitchell

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    Because of all the nationalization. It will continue to go down so long as he drives us further down that road. he could facilitate a change in the market but that would not be left enough for him. And his boss Pelosi will be mad.
     
  5. Pastor Larry

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    I don't think he intends to bankrupt the country. I just think he doesn't know any better, and he has not done a good job surrounding himself with people who will challenge his defective views.
     
  6. JustChristian

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    Is that significant? Under Bush the market dropped 50%.
     
  7. Bro. Curtis

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    Actually, it was over 14000 when the dems took over congress.
     
  8. billwald

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    If Saints Paul and Peter had been resurrected and elected the market still would have tanked.
     
  9. Dragoon68

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    Since you understand the market so well please do let me know when it's time to buy. The last advice came from your buddy in Washington just a few days ago.
     
  10. Pastor Larry

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    No it didn't. When Bush took office, the DJIA was 11,350. When he left office it was about 8000. That's not 50% by any math I can find.

    Even if you take the high of 14000, 8000 is not 50%. So it doesn't matter how you do the math, you are incorrect.

    Work on your math skills.

    Since Obama has been in office, it is down 20% in one month. That's not good particularly when he was supposed to be the answer to the problem.
     
  11. BigBossman

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    I will say this: I don't like Obama. I hate what he stands for (socialism).

    In all fairness, a president inheits what his predecessor left behind for the first year or two.

    * Ronald Reagan went throught this in 1981 when unemployment was up. This was attributed to Jimmy Carter.

    * Toward the end of Reagan's time in office, military spending was at an all time high.

    * When George H.W. Bush took office, the Communist Party in the Soviet Union went bankrupt. This was attributed to Ronald Reagan's military spending. Incidently, the recession that occurred was also attributed to Reagan.

    * When Bill Clinton took office early on, our economy started to turn around. This I attributed to George H.W. Bush.

    * Bill Clinton made cuts where they were needed most (military spending & national security).

    * Shortly after George W. Bush took over, we had a terrorist attck on the World Trade Center. I attribute this to Bill Clinton because of the cuts that were made.

    * While I don't know what has caused our economy to slump, I will say that Bush has put us into this predicament.

    Here's what I will say about Barack Obama: He might be able to blame Bush now, but how long will this blame game go on?

    In a corporate business, if you are put in charge by the CEO & the person before you was causing the corporation to lose money, & the corporation continues to lose money, you can't keep going on blaming the person before you. The CEO won't want to hear about what the person before you did, he will want to hear about what youy are doing to turn thing around. The same logic could be applied to this situation.
     
  12. LeBuick

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    I believe we need a new barometer by which to measure our economy. When millions of jobs were being offshore the markets soared but in reality a major crises was brewing just beneath the surface because of increased unemployment. We also went through periods of "cooked books" and other false reporting then learned how companies like ML looked good enough on paper to give out $3.4 Billion in bonuses was actually on the brink of collapse.

    I hate to say it, but the market is just a measurement of investors confidence and nothing else and is faaaaar from reality. There are so many variables that play into that scenario that it makes a poor economic indicator. It's getting to be as reliable as my trick knee...
     
  13. Revmitchell

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    Yea it certainly is not an indicator of excessive union benefits and regulations that drives jobs over seas. Of course tax incentives that free businesses up to choose to do business where they wish takes the sting off of those unreasonable market inhibitors.
     
  14. LeBuick

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    It was the lack of regulation... A tax break to be exact that send jobs overseas...

    I have no problem with giving small businesses tax breaks as a means to get through these times. Obama has done that for 98% of small businesses. However, giving corporations more money has prooven to be ineffective in helping our economy. We gave them billions and saw no new loans. We saw them take billions as bonuses then belly up the company. A tax break for them will only means a billion + that many more dollars in bonus before the leap ship on the investors...
     
  15. OldRegular

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    Not really JC!

    In fact, Obama’s rise has seemed to accompany the economy’s fall, with the NYSE index dropping by 3,732 points since his nomination on Aug. 27, 2008 to Feb. 27, 2009 -- the last day for which official statistics are available – for a loss of $7.7 trillion dollars.

    The NYSE Composite Index lost 2,004 points – for a loss of $4 trillion – from Obama’s nomination to his election Nov. 4 and lost 1,287 points – $2.6 trillion in value – from his election until his inauguration on Jan. 20.

    From Here

    Obviously the investors don't like O'bama's plan to socialize the country!
     
  16. OldRegular

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    O'bama is not giving anyone a tax cut. That is just leftist spin. In fact everyone will pay more because of his tax on carbon fuels, a tax that will affect everything in the economy.
     
  17. JustChristian

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    I was talking about the current crisis. The market topped at about 14,000 on the DOW and hit its Bush low of about 8,000 when he left office. You're correct in saying that's not a 50% drop. It's a 43% drop. In one 7 market day period it dropped 24%.

    Under Obama it hasn't dropped 20% but about 17% so your number was incorrect as well.

    The real story is that from the high the Dow dropped 6,000 pts and so far under Obama its dropped about 1350. Of course, I believe it's going to get worse. But this is all one event. Obama didn't start out with a roaring market and tank it. He started out with a serious crisis which developed in the previous administration and he's trying to dig us out of it.
     
  18. JustChristian

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    Who was president and had control of the government during this period? George W. Bush. For once in his life he has to take some responsibility.
     
  19. OldRegular

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    Market experts say that the stock market reflects the future not the present. There was obvious concern among investors about O'bama's Marxist policies; therefore, the fall in the stock market can be attributed to concern that O'bama would be the next president. I believe the market is down about another 1000 points since the above information was presented._______________
     
  20. JustChristian

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    Ridiculous.
     

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