Is the Stock Market Obama’s Problem or was it Bush’s Problem?
February 19th, 2010 | by admin |It seems clear Bush did whatever it took to make sure OUR stock market didn’t head on a downward spiral.
Obama is acting like the Stock Market Doesn’t exists.
Below is an article that Shows the Obama Presidency isn’t doing what it takes to correct the Stock Market. The Stock Market is re-acting to what President Obama is Signing in the oval office – stimulus bill etc….
So I SAY IT’S OBAMA’s problem and it’s one he is neglecting.
What do you say? *1997 goes back to Bill Clinton’s Presidency not Bush’s.
http://finance.yahoo.com/news/Dow-falls-below-7000-as-apf-14510516.html
Dow industrials fall below 7,000; lowest since ‘97
NEW YORK (AP) — The Dow Jones industrial average has fallen below 7,000 Monday for the first time in more than 11 years as investors grow even more pessimistic about the health of banks, and in turn the economy.
A staggering $61.7 billion in quarterly losses at insurer American International Group Inc. is touching off fresh fears about the health of the nation’s financial system.
Those worries pushed the blue chips below 7,000 for the first time since Oct. 28, 1997. The credit crisis and recession have now slashed half the average’s value since it hit a record high over 14,000 in October 2007.
The Dow is down 225 at 6,837.
The Standard & Poor’s 500 index is down 26 at 708.46, and the Nasdaq composite index is off 38 at 1,338.
catrionn :
Please feel free to repsond to this:
ARE you going to give your neighbor $ 100.00 a week of your money?
Its ALL of our problem,whats even more disturbing is the lack of knowledge people have on how our economy really runs.(but it explains a lot on how obama is our president) you are correct that obama is acting as though it doesn’t exist-and judging by the answers here neither do his loyal followers
8 Responses to “Is the Stock Market Obama’s Problem or was it Bush’s Problem?”
By Jesus_Is_My_Gardner on Feb 20, 2010 | Reply
the Dow isn’t so bad…it never even reached as high as 3000 under Reagan
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By e.sillery on Feb 20, 2010 | Reply
Oh now, none of that matters. Obama got elected and that is the main thing. Besides what else could you ask for?
The investors are scared to keep their money in the stock market with all that is happening in Washington at the moment. They are selling off taking huge losses.
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By INTERNET HATE MACHINE 4.0 on Feb 20, 2010 | Reply
the stock market is one big lie detector and obviously doesn’t like the way Obama and his policies are doing
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By Concerned Citizen on Feb 20, 2010 | Reply
The market had HISTORICAL growth under Bush. Unfortunately, as soon as it was announced that Obama was elected, the market started to crumble. Historically the market grows after an election and tragically Corporate America saw the writing on the wall with this new administration and started implementing cost savings to weather through this historic tragedy of an administration. Therefore jobs started to be cut, production cut back because Obama promised to punish those that were successful, and as a result Corporate America-a driving force to the working class-cut positions that were an impediment to their bottom line.
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By king_geoian13 on Feb 20, 2010 | Reply
I wouldn’t say it’s too much of a problem for whomever is President, considering the fact that the market only reflects to value of each company on a day-to-day basis. This essentially makes it a problem for the businesses themselves in our economy. Perhaps maybe Bush or Obama could encourage that businesses go one way or another, but they certainly do not have direct control over what the Stock Market does (expect maybe through "Animal Spirits" — The idea that the market runs on expectations alone).
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By catrionn on Feb 20, 2010 | Reply
If right-wingers weren’t so unwilling to share with other people, and so scared of someone taking their precious money away, the stock market would be perfectly stable.
Republicans/conservatives remind me of Daffy Duck in the old cartoons, hugging a pile of money and jewels and screaming, "Mine, mine, all mine!"
Response to selfish OP: Yes, if I had $100 to spare, I would.
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By Dan W on Feb 20, 2010 | Reply
The economy is The Presidents problem but not under his control.
The pres names an economic adviser who devises a policy and directs bureaucrats to administer it. after weeks of thinking out the basic idea it goes to staff writers who argue for months whether to say "is " or "was", with ideas from Business to protect themselves from regulation, then it goes back to the pres for signing, and he doesn’t know what it says.So it’s signed and scheduled to take effect in 6 months to a year. The market learns of the details and start developing ways to circumvent it. The only good thing is the greed effect that spurs business to make money, countered by the Rats at top who may try to steal it.
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By AMO 45 on Feb 20, 2010 | Reply
Its ALL of our problem,whats even more disturbing is the lack of knowledge people have on how our economy really runs.(but it explains a lot on how obama is our president) you are correct that obama is acting as though it doesn’t exist-and judging by the answers here neither do his loyal followers
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