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Yes presidents have control over the markets. I point this out over and over without a single argument to the contrary but yet we still get this claim.
If Obama hadnt picked a Fed Chairman that thought the answer was another bubble, this one would not be popping. We should have left things alone at the end of 2008-09 and allowed things to naturally slowly recover on its own.
There is absolutely no question that if Obama had picked someone along the lines of Sanders, Kucenich or Ron Paul as opposed to the epic failure named Bernanke, things would look far different today.
Argue that you think it would be worse if you want but the point is, it would be different so a president most certainly has an influence.
They're still scrambling for ways to blame Obama. Give them a few hours. They'll figure out how Obama caused this soon enough.
So far you are the one saying that. Why did you start yet another thread on the stock market tumble rather than posting to one of those existing threads. After all, you do not even have any links to support your complaint.
A lot of traders and senior management at institutional firms are out of office, as is common the last two weeks of August. So the volatility also reflects lack of liquidity or rash decisions made from Martha's vineyard
The president has no control over global or domestic markets.
There are reasons why China's wealth class has been gobbling up high end condos in NY and in parts of the west coast. They pay cash. They pay their taxes and assessments. The units are unoccupied. They view it as a lock box for their cash.
There are reasons why the wealth class in China has been immigrating to the U.S. and Canada.
There are reasons why the middle class Chinese have been having anchor babies in the U.S. and returning home. They are hedging against future food shortages, civil unrest, air pollution and restrictions on childbearing.
The Chinese have lost confidence in their economy. Those with means have been moving their money out of China for the past several years.
That has not however prevented partisans from historically blaming presidents.
Or presidents taking credit for the market when it's up. If you take credit, you're setting yourself up for taking the blame. They all do it.... on both sides of the aisle.
They always do this, Market has crashed a lot during my lifetime...just when you think your making some money, boom....market crashes.....
and yet, companies now discontinue pensions...and encourage people to invest in the market....? geeze Louise....
How did this happen this time, what is their excuse, this time....?
The markets crashed in all lifetimes.
Who is " they" ?
The stock market has historically out performed the real estate market, over time.
Two sectors have outperformed the stock market, Big Pharm and medical devise industries.
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