U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies > Elections
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-21-2009, 02:13 PM
 
Location: New Jersey
2,665 posts, read 3,415,825 times
Reputation: 579

Advertisements

Every time Obama, Pelosi and Reid announce a new policy the market tanks even lower. How far can down can they drive it? GWB comes in with the DJIA around 10,500. Bush and a republican congress drive it to it's historical peak of just over 14,000. Dems and Obama take control and we're now driving to go under 7,000.

And to show non-partisanship, I'll go back and acknowledge it grew steady under Clinton and a republican congress. In fact, Obama, Pelosi and Reid's policies have crushed the market worse than perhaps 99% of us reading this have ever seen.

Not the change I was hoping for. Let's hope they don't announce some new pork spending and debt increase again anytime soon.
Reply With Quote Quick reply to this message

 
Old 02-21-2009, 06:05 PM
 
Location: San Diego
5,319 posts, read 7,864,691 times
Reputation: 3376
When the DOW reached an all-time high of 14,164 on Oct 9, 2007 ....

who was in control of Congress in 2007?

Could it have been ..... the Democrats?

When the Dow sank from 14,164 to 7,949 on Jan 20, 2009, who was president?

Could it have been George W. Bush?

So the Dow drops from 7,949 to 7,365 during Obama's first month in office.

Hmmmm .... doesn't look quite as bad as when it fell from 14,164 to 7,949 during Bush, does it?

Or maybe you've already forgotten when the Dow closed at 7,286 on Oct 9, 2002 ?

Who was president back then?

Could it have been ... George W. Bush ?

Let's see, and the Dow was at 10,578 when Bush took office on Jan 22, 2001

Then the Dow sank all the way from 10,578 to 7,286 ....

all while Bush was the president !!!
Reply With Quote Quick reply to this message
 
Old 02-21-2009, 06:50 PM
 
1,992 posts, read 3,736,012 times
Reputation: 608
Exactly, RD5050. I don't expect everything to be fixed in 30 days. Let's review this later.

Also, each time the president, Pelosi, or someone else in his administration has made an announcement, more serious announcements have been made that made the market tank. For example: Low earnings 4th quarter last year (who was president?); Record unemployment (in numbers, not percentages) for 2008 (Who was president?); New layoffs in the hundreds of thousands on Obama's watch but caused by losses in the fourth quarter last year. I remember on the day he signed the stimulus bill, GM announced 48000 layoffs and Chrysler announced 3000, and they both begged for more money. I think that could have had an effect on the market....

Last edited by JamesAbilene; 02-21-2009 at 07:47 PM..
Reply With Quote Quick reply to this message
 
Old 02-21-2009, 06:55 PM
 
4,176 posts, read 5,486,470 times
Reputation: 1849
If you think Obama and Congressional Democrats are good for the stock market, you're insane!

They want HIGHER capital gains taxes! If they knew what they were doing, they'd eliminate the capital gains tax since the money used for capital gains is money that has been saved after taxes.
Reply With Quote Quick reply to this message
 
Old 02-21-2009, 07:00 PM
 
31,385 posts, read 32,116,018 times
Reputation: 14896
Really Stupid Financial Thread #20094
Reply With Quote Quick reply to this message
 
Old 02-21-2009, 07:12 PM
 
1,532 posts, read 1,422,502 times
Reputation: 383
No taxes on gold, guess who is burying the precious metal, any body with a brain.
Reply With Quote Quick reply to this message
 
Old 02-21-2009, 07:20 PM
 
2,659 posts, read 2,578,650 times
Reputation: 366
Quote:
Originally Posted by LIS123 View Post
If you think Obama and Congressional Democrats are good for the stock market, you're insane!

They want HIGHER capital gains taxes! If they knew what they were doing, they'd eliminate the capital gains tax since the money used for capital gains is money that has been saved after taxes.
The stock market prefers Democratic presidents. - By Carol Vinzant - Slate Magazine
Quote:
Democrats, it turns out, are much better for the stock market than Republicans.
http://money.cnn.com/2004/01/21/mark...ion_demsvreps/
Quote:
studies show the stock market performs better and tends to be less volatile when Democrats are in power.
http://www.usatoday.com/money/perfi/...esidents_x.htm
Quote:
Many investors assume that Republican presidents are better for the stock market. That's not true.
http://www.forbes.com/2004/07/21/cx_...ahoo&referrer=
Quote:
Over the years, several studies have shown that the stock market has fared markedly better under Democrats than Republicans.
Reply With Quote Quick reply to this message
 
Old 02-21-2009, 07:22 PM
 
Location: Idaho Falls
5,027 posts, read 5,541,601 times
Reputation: 1479
I'm hoping that we'll be at 5000 by this summer. President Obama's secret plan to drive our economy into the crapper will be well on it's way to success by then!
Reply With Quote Quick reply to this message
 
Old 02-21-2009, 08:44 PM
 
Location: Chicagoland
41,314 posts, read 39,614,540 times
Reputation: 7107
Quote:
When the Dow sank from 14,164 to 7,949 on Jan 20, 2009, who was president?
You are forgetting the numerous times obama started flapping his gums on his intentions for the economy.

RealClearMarkets - Articles - The Market Is Shorting Obama's 'Stimulus'

Quote:
Yet, from Nov. 4, 2008 through Feb. 12, 2009, the DJI overall fell 18% -- a larger drop than during the Sept-Oct plunge. In January, when the Obama plan, promising far greater deficits than the two much smaller “emergency stimulus” plans signed by Pres. George W. Bush in 2008, was unveiled, the market tanked – the worst January performance in 113 years.

More pointedly, key political victories for the Team Obama spending plan have not been viewed as buying opportunities on Wall Street. A string of negative market reactions began with the December 18 announcement of a stimulus bill of $700 billion (Dow down 2.5%), continued with the January 7 announcement that the actual plan would be “on the high side” (-2.7%) and continued with last week’s 61-36 Senate vote supporting the Administration’s fiscal plan. The White House victory and the new bank bail-out plan announced the following day by Treasury Secretary Geithner were met with a 5% wipe-out in the DJI, and a decline in Treasury bond yields, indicating a “flight to quality.”
Reply With Quote Quick reply to this message
 
Old 02-21-2009, 08:56 PM
 
4,176 posts, read 5,486,470 times
Reputation: 1849
Every time a major action occurs with regards to the Obama Admin, the market dives. The market tanked on 11-5-08, Inauguration day, the day Geithner announced his bank rescue plan and the day Obama signed the recovery package. The losses from these four days combined were huge!

The market has gone down so much, that it may improve but it will be in light of Obama's policies, not b/c of them. He wants to limit CEO pay and regulate the life out of these companies. He received the lowest score from the Club for Growth. This guy is a pure Marxist and doesn't believe in free enterprise!
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies > Elections
Follow City-Data.com founder on our Forum or

All times are GMT -6. The time now is 07:39 AM.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top