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Remember with me back to 2008, during the waning days of the George W. Bush administration, when the economy was in free fall and the DOW Industrial average hovered around the 7000 mark, when the nation was looking down into a seemingly bottomless economic canyon, on the precipice of a REAL fiscal cliff. Now compare that with the economic climate today under what the total obstructionist Republicans like to portray as the "anti-business" President Obama:
Another example of Republicans making fools of themselves, refusing to compromise even when it is for the good of the nation, repeating blatantly false, completely ridiculous mantras that serve only to further illustrate their own ignorance and insignificance.
Republicans are so far gone they still can't even understand this is why they lost in 2012. If they continue to willingly tread down political dead ends of their own design, they'll have to change their mascot from an elephant to a dinosaur.
yes, stocks always fall right before election, and so do gas prices. what's new? one is uncertainty and the other one is current president, if he's running, way to show how nice he is.
yes, stocks always fall right before election, and so do gas prices. what's new? one is uncertainty and the other one is current president, if he's running, way to show how nice he is.
Stocks always fall nearly 50% around the time of the election because of the uncertainty of the election?
This certainly didn't happen in the last election. What is your proof for this statement?
What about elections before we had cars, did gas prices fall then as well?
Yes, the stock market move has been good for America but we will soon be $17 trillion in debt. I dont see that having a Walt Disney ending for the country or the majority of the population.
Wall St. is getting its gains for the next couple of years before the $trillions of printed money becomes worthless. The bills are coming due, and the exports are not even close to where they should.
The DJIA was at 13,058.20 about six months prior to the 2008 Presidential Election. It closed at 13,649.70 last Friday. That's up about 4-1/2%, not a whole lot for someone who was invested in the market back then.
So what was it that Bush did in the waning days of his term that sent the market into a tailspin, and what did the Obama admistration do that resulted in a recovery?
The 3 major reasons for the recovery from 2009-2012:
1) TARP and to a much smaller extent, government fiscal stimulus in early 2009
2) Federal Reserve monetary policy
3) government taxes staying low
Which of these does Obama deserve credit for?
1) No, and the second part (stimulus) would have been done by any President in that situation;
2) No, he didn't even appoint Bernanke and had no choice whatsoever in whether to reappoint him in 2010
3) He actually tried to raise taxes throughout his first term.
I can't think of anything he did to advance the stock market. Should we give him credit for appointing Geithner when Geithner's biggest qualification was that he was already there as NY Fed governor?
The DJIA was at 13,058.20 about six months prior to the 2008 Presidential Election. It closed at 13,649.70 last Friday. That's up about 4-1/2%, not a whole lot for someone who was invested in the market back then.
So what was it that Bush did in the waning days of his term that sent the market into a tailspin, and what did the Obama admistration do that resulted in a recovery?
Hmmm ummmm how about the housing bubble bursting during the presidential campaign.
The DJIA was at 13,058.20 about six months prior to the 2008 Presidential Election. It closed at 13,649.70 last Friday. That's up about 4-1/2%, not a whole lot for someone who was invested in the market back then.
So what was it that Bush did in the waning days of his term that sent the market into a tailspin, and what did the Obama admistration do that resulted in a recovery?
Redistribution of wealth from the middle class to the rich with tax breaks. Poor regulation and enforcement of existing laws on the banksters like Madoff and Allan Stanford. People found out they had nothing. More poor regulation of housing and banksters, when Countrywide was paying appraisers cash to inflate appraisals.
Medicare D that's a huge give away to big Pharma at the expense of the federal deficit. It's always a good idea to pay for drugs without bulk discounts and negotiation like insurers in the private market.
Look at that giant spike in Medicare spending, after Part D went into effect.
Last edited by move4ward; 01-20-2013 at 09:57 AM..
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