Obama Pushing Stock Market Down, Down, Down (unemployment, illegal, health care)

[progressive25]

All of President Obama’s horses and all of President Obama’s men won’t be able to put the stock market together again.

Link.

[Synopsis]

Here's an article from the WSJ that says the same.

Michael Boskin Says Barack Obama Is Moving Us Toward a European-Style Social Welfare State and Long-Run Economic Stagnation - WSJ.com

Mind you, I'm not saying that all of this is Obama's fault but I am really growing tired of all the people that think Dem=Good/Repub=Bad (and vice versa). I think parties on both sides share a LOT of blame.

[malamute]

Originally Posted by progressive25

All of President Obama’s horses and all of President Obama’s men won’t be able to put the stock market together again.

Link.

What makes you assume Obama wants to put the stock market together again? I believe the collapse of the Dow is the desired effect because that makes for nationalization of all banking and industry and health care inevitable and easy.

[ovcatto]

Outside of investors, who gives a damn about the DOW, what we need to be concerned with is unemployment and GDP.

[NewToCA]

I had read the Boskin article, and also a lot of the stuff Hoover Institute has created that supported the conclusion. Looking at a New York Times article from Paul Krugman yesterday, he basically ripped Obama for the same issue.

Bottom line, the big guys are telling Obama he doesn't have his act together. If he doesn't start to get this right in the next few weeks, it will go from "you haven't got your act together yet" to "the king has no clothes".

Add this stuff in with the anticipated illegal alien amnesty proposal, and I think you may "buyer remorse" in record time!

[NewToCA]

Originally Posted by ovcatto

Outside of investors, who gives a damn about the DOW, what we need to be concerned with is unemployment and GDP.

You think these things each happen in a vacuum???

[vec101]

Interesting and thought provoking article. Thanks for sharing Progressive.

Everyone should care about the DOW/stock market/etc -- it is CRITICALly related to our economy, GDP, and employment.
They explain it better than I can:

... declining stock values means less wealth for consumers, whose purchases drive 70% of the economy. It also means less financing for new businesses, since the sale of stocks is one way that companies can get the funds needed to grow.
Stock Market Crash and Recession - How a Stock Market Crash Could Cause a Recession

[Hoarfrost]

Because it was going up up up before he took office.

Originally Posted by malamute

What makes you assume Obama wants to put the stock market together again? I believe the collapse of the Dow is the desired effect because that makes for nationalization of all banking and industry and health care inevitable and easy.

You haven't read that boorish Kimball post by any chance? Advancing the idea that Obama is purposefully poisoning the economy in order to create some kind of Bolshevist revolution is infantile and sophomoric.

[ViewFromThePeak]

Originally Posted by ovcatto

Outside of investors, who gives a damn about the DOW, what we need to be concerned with is unemployment and GDP.

The Dow score may not be sufficiently relevant (i.e. it's overpriced), but the companies' earnings certainly are. Those earnings are continuing to drop rapidly. Employment won't be happening without substantial profit jumps.

[MovingForward]

Get real. The entire international financial sector is not responding to Obama. If you believe that--that one man has the power to rule the world--then you really do believe he is a "Messiah." What's your reasoning for the tanking of the economy BEFORE Obama was in office? Hmmmm?