How Low Can It Go?

[saden1]

Originally Posted by Miller101

What I don't understand is why Mr. Black is saying that this tanking is Obama's fault...............this market has been tanking for a year now. Obama just got here. If anything its Black's fault! He's been working there this whole time!

I think the fighting has begun, fortunately these people are not very bright.

I mean seriously, the guy wants more respect and understanding all the while advocating for a tea party? He thinks the press secretary is threatening him? Wat a f'ing retard.

[70Chip]

I really didn't want to have a debate about whose fault it is, as that debate will be ongoing for many months in many forums. I was more interested in getting folks on the record as to where they think the bottom is, kind of like an office pool.

Having said that, I sense a defensive tone from the Democrats on the stock market. Of course Obama cannot yet be held responsible for the bulk of the nasty economic indicators we see, but the stock market is a little different. It tends to react more to events in real time - Fed action, earnings reports, wars and natural disasters, etc. That is not to say that the underlying fundamentals are not shit, but I do think the feckless response of Geithner for example, has not been helpful. It's also why all the Democrats are talking about Rush Limbaugh right now. They would prefer to wait for some sign of recovery and THEN talk about the economy. That's the way it goes.

[Slingin Sammy 33]

Originally Posted by 70Chip

Of course Obama cannot yet be held responsible for the bulk of the nasty economic indicators we see, but the stock market is a little different. It tends to react more to events in real time - Fed action, earnings reports, wars and natural disasters, etc. That is not to say that the underlying fundamentals are not shit, but I do think the feckless response of Geithner for example, has not been helpful. It's also why all the Democrats are talking about Rush Limbaugh right now. They would prefer to wait for some sign of recovery and THEN talk about the economy. That's the way it goes.

But the Democratic controlled Congress (that approves all spending) sure can.

The basic fundamentals of the economy (productivity per worker, etc) are still sound. The mortage/housing crisis was the cause of the mess up until the election. The market appeared stabilized even after Obama's election at about 9K. After he began announcing his economic policies is when the market tanked to under 7K.

[FRPLG]

Originally Posted by 70Chip

I really didn't want to have a debate about whose fault it is, as that debate will be ongoing for many months in many forums. I was more interested in getting folks on the record as to where they think the bottom is, kind of like an office pool.

Having said that, I sense a defensive tone from the Democrats on the stock market. Of course Obama cannot yet be held responsible for the bulk of the nasty economic indicators we see, but the stock market is a little different. It tends to react more to events in real time - Fed action, earnings reports, wars and natural disasters, etc. That is not to say that the underlying fundamentals are not shit, but I do think the feckless response of Geithner for example, has not been helpful. It's also why all the Democrats are talking about Rush Limbaugh right now. They would prefer to wait for some sign of recovery and THEN talk about the economy. That's the way it goes.

Thank you.

I love it. Obama can do no wrong for all the cult followers. I gave this dope Obama a chance but his policies have investors scared shitless and he is killing the market. That will contnue to degrade consumer confidence. Rinse/repeat. Simple idiocy.

[MTK]

Originally Posted by FRPLG

Thank you.

I love it. Obama can do no wrong for all the cult followers. I gave this dope Obama a chance but his policies have investors scared shitless and he is killing the market. That will contnue to degrade consumer confidence. Rinse/repeat. Simple idiocy.

A wise edit.

[FRPLG]

Originally Posted by Mattyk72

A wise edit.

For sure.