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So either his policies have had time to take effect or they haven't. For all of the liberals crediting Obama with this so called recovery, you will have to lay the blame at his feet when this house of cards comes tumbling down very soon. I have a feeling that somehow it will be Bush's fault again though
I've said all along that Bush was right to do the bail outs - just as I said he helped the collapse happen in the first place by not paying attention to what was going on and letting the situation deteriorate into a crises.
Now my question to YOU is: Since you seem to blame Obama for the economic crises (even though it started long before Obama was even President) - and are already blaming him for something that hasn't even HAPPENED yet (and most likely won't) - when the "house of cards" doesn't come tumbling down will you give him CREDIT?
Notice the more dissent to Obama the higher it goes. Wall Street knows Obama is becoming impotent, he's doing it to himself. I must say though it's kinda strnge you guys are now cheering for Wall Street. Not 6 months ago some of you folks were trying to hang them or burn them at the stake.
I'm cheering for my 401K - NOT for the big shots. I still think a bunch of them should be fired (if not jailed). Those folks are not responsible for the market coming back. It's come back for 2 reasons:
1) The market overeacted to the crises to begin with (going too low for the actual conditions of the economy) and is correcting to a more appropriate level.
2) The general economy has bottomed out (and in some areas actually started to recover).
In neither of these situations have the big wig CEO's helped in any way, shape or form.
Yeah, right. The Treasury isn't really auctioning $229 billion in securities next week... etc., etc.
Oh the Treasury is selling bonds - that's my point.
Dispite you Obamabasher's claims that "no one wants to buy US bonds" they are selling JUST FINE - even at the ultra-low (less than 4%) rates they've been offered at. As time goes on and the worlds' economies recover those rates will of course go up - just as they've ALWAYS done during recoveries. Nothing new about any of that.
I'm cheering for my 401K - NOT for the big shots. I still think a bunch of them should be fired (if not jailed). Those folks are not responsible for the market coming back. It's come back for 2 reasons:
1) The market overeacted to the crises to begin with (going too low for the actual conditions of the economy) and is correcting to a more appropriate level.
2) The general economy has bottomed out (and in some areas actually started to recover).
In neither of these situations have the big wig CEO's helped in any way, shape or form.
Ken
Wow, Ken. Why haven't you told Bernanke the economy has started to recover?
Oh the Treasury is selling bonds - that's my point.
Dispite you Obamabasher's claims that "no one wants to buy US bonds" they are selling JUST FINE - even at the ultra-low (less than 4%) rates they've been offered at. As time goes on and the worlds' economies recover those rates will of course go up - just as they've ALWAYS done during recoveries. Nothing new about any of that.
Ken
Really, Ken, you seem to not understand what's going on. The market isn't rallying because there is any kind of 'recovery,' it's rallying because the gov/GS (what's the diff?) needs to pump it up before the Treasury's $229 billion securities auction next week.
Even Bernanke knows there is no recovery. He testified this week that the recession has gotten worse.
Yes STARTED TO RECOVER.
OF COURSE the economy has gotten worse in the last six months or so - we've moved to the bottom and are now turning the corner (DUH!!!!). Not every aspect has recovered yet, but the majority of the Leading Economic Indicators are now positive. Housing sales are rising (as are prices in most parts of the country), Layoffs are generally dropping (they'll go up and down a bit but the general trend over the last few months has been definitely DOWN), and of course the stock market is up as a result.
"The Conference Board LEI for the U.S. increased for the third consecutive month in June. Most of the components contributed positively to the index this month except real money supply* and manufacturers' new orders for nondefense capital goods*."
Really, Ken, you seem to not understand what's going on. The market isn't rallying because there is any kind of 'recovery,' it's rallying because the gov/GS (what's the diff?) needs to pump it up before the Treasury's $229 billion securities auction next week.
Even Bernanke knows there is no recovery. He testified this week that the recession has gotten worse.
BS.
The market is rallying because there has been plenty of encouraging economic news (house prices stabilizing, factory (and home) inventory levels dropping, layoffs decreasing, etc, etc, etc).
And yes, it HAS gotten worse over the last 6 months (DUH!) - that does not mean it's getting worse NOW (DUH!!!!). As I said, we're at the bottom and turning the corner.
I've said all along that Bush was right to do the bail outs - just as I said he helped the collapse happen in the first place by not paying attention to what was going on and letting the situation deteriorate into a crises.
Now my question to YOU is: Since you seem to blame Obama for the economic crises (even though it started long before Obama was even President) - and are already blaming him for something that hasn't even HAPPENED yet (and most likely won't) - when the "house of cards" doesn't come tumbling down will you give him CREDIT?
Somehow I doubt THAT.
Ken
I have to admit that I was unsure about the bail out but I leaned towards doing it.... if it would avoid or blunt a collapse, it has to be worth it. I was shakey on how much money they were talking about, but, if that's what it took to right the ship... ok.
And, I'll give Bush credit for that. I think Obama improved upon the recovery actions, which still could be approved upon more, but I don't see how anyone could be displeased with the market going up. And again, I'll give Bush credit for starting this. Of course, I think he helped contribute to the situation, but he did start the process that appears to be getting results.
Hopefully, as more stimulus money makes its way into circulation, employment numbers will start to improve.
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