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.
Or are you going to continue to blame Bush well into 2011? 2012?
That's what Reagan-auts do with Carter and the recessions under Reagan's administration...the previous president has a lot more to do with a first-term recession than the incoming president does. How anyone can deny that is beyond me.
I'll help you out, since you clearly have no understanding of a stock ticker.
When Bush took office, the DJIA was at ~10,500, when he left, it was at ~7,950, that's a 24.3% drop.
When Obama took office, it was at 8,228 and now it's at 7,168, a 12.8% drop. None of Obama's policies have taken effect yet and the drops are still a result of the disaster of the Bush years.
Say what you will about Obama (and we all know you will...you hate Obama for reasons beyond his politics and it's quite obvious), but you can't blame our financial crisis on him, that's about as foolish and ignorant as you can be...
No his policies havent taken effect but it doesnt appear those that invest likes his ideas or policies to come
No his policies havent taken effect but it doesnt appear those that invest likes his ideas or policies to come
No, what they don't like are the daily pieces of news that come out. 9% (more than double than before Bush) unemployment by the end of the year will cause people to sell. Banks failing left and right causes anyone to bail out of financial stocks. The big three automakers going kaput is enough to cause people to pull out of those stocks. Seeing Circuit City, Mervyns and other major retailers shutting their doors is enough to get people to pull out of those stocks. See a trend?
Remember, the stock market goes up on rumors and down on facts, this is one of the most fundamental principles of stock market analysis (Buy on rumor, sell on fact) and right now all the rumors are negative and the facts are dire. People with money are keeping it safe, and people without are simply not spending or investing, which causes the downward spiral we're seeing. This is very simple economics people, not difficult to understand, and Obama's policies have nothing to do with it.
That being said, his recovery packages will have little effect. It will take a major change for something to happen that causes the recovery, and it's not going to come from a bail-out package, it will come from a small company receiving venture funds and inventing a new industry altogether. We pulled out of Bush #1's recession because of the Internet's growing influence, this one will end as a result of new technology creating a new industry...or it will end when we cut all funding from the wars on Drugs, Terrorism (go back to the covert ops days that cost 1/100th of the WOT), Iraq, Gambling (online gambling anyone?) Prostitution and all the other frivolous paternalistic laws we've put on the books. Saving a few hundred billion in funding (prisons, wars, ad campaigns) while adding new sectors to the economy (prostitution, gambling, drugs) which now go to criminal gangs would be far more beneficial than any one of these "recovery packages" being proposed by either side. Americans wanted "change", but are afraid to actually make real changes. In 1933, one of the first things FDR did was repeal prohibition, and that helped a lot. Where would St Louis, Milwaukie and Denver (plus Cindy McCain) be today without the repeal of prohibition?
Or are you going to continue to blame Bush well into 2011? 2012?
How can you even assign a date?
This economic crisis that Obama is dealing with is totally unprecedented.
There is no magic answer.
It's impossible to know what will happen in a year, or two, or three.
Obama is doing EXACTLY what the nation's leading economists are recommending he do.
But .... sorry ... there is no CRYSTAL BALL for this. We can not see into the future.
Obama is an extrememly intelligent man, and we are VERY lucky to have him as our president.
Obama will do everything he can to get us out of this economic mess that BUSH CREATED, but it's impossible to know the precise date when things will turn around.
There are way too many variables. More banks could still fail. More businesses could fail. Thousands more could lose their jobs.
And every one of these things could drive the stock market lower.
Republicans just want to RANT and RAVE on this message board ... even though I'm sure they are smart enough to realize Obama isn't a magician.
He never claimed to be. It's Republicans who keep referring to him as "The Messiah" ... which is totally STUPID !!!
The one thing you can say about Obama, is he is an extremely intelligent man. And he has America's best interests in his heart!
In total contrast, Bush was a selfish little brat, who took our nation into a completely unnecessary war in Iraq based on a pack of LIES. His interests were mainly for making the rich even richer. Middle-class America didn't matter even the slightest bit to Bush.
That's what Reagan-auts do with Carter and the recessions under Reagan's administration...the previous president has a lot more to do with a first-term recession than the incoming president does. How anyone can deny that is beyond me.
what is? so the Reagan economy was Carter's fault? Does that mean we can blame clinton for the current economy?
Let's just put the date down now. Then, in 20?? we can all get past the "Bush did it" crap and get on with blaming the guy that is actually going to shred the economy as well as the constitution--President Barry.
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.
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.
