Obama's Radicalism Is Killing the Dow

[Chump Bailey]

http://online.wsj.com/article/SB123629969453946717.html

Full article above

"It's hard not to see the continued sell-off on Wall Street and the growing fear on Main Street as a product, at least in part, of the realization that our new president's policies are designed to radically re-engineer the market-based U.S. economy, not just mitigate the recession and financial crisis.

The illusion that Barack Obama will lead from the economic center has quickly come to an end. Instead of combining the best policies of past Democratic presidents -- John Kennedy on taxes, Bill Clinton on welfare reform and a balanced budget, for instance -- President Obama is returning to Jimmy Carter's higher taxes and Mr. Clinton's draconian defense drawdown."

[TheGoodBits]

Aww, the board member of Exxon doesn't like Obama's policies? Soooo sorry Mr. Boskin, maybe the next Pres will be better to you. Ya know, more like the last one.:doh:

[twa]

Be careful what you ask for,someone has to pay the taxes and create real jobs

[DCMONEY]

They ought to bring Bush back, he did such a wonderful job:stop::doh1:

[Midnight Judges]

Where was this hack when the DOW lost 6000 points during Bush's last year and a half? Oh that's right, kissing Bush's ass:

http://online.wsj.com/article/SB118792144566207540.html?mod=opinion_main_review_and_outlooks

I like the part where he claims Bush reduced the deficit.

Boskin seems to have a long history of getting smacked around:

http://www.factcheck.org/elections-2008/right_change_is_wrong.html

[Ingtar]

Guys, I realize that Bush did a terrible job. Everyone gets that already. When will people focus on the job that Obama is doing rather than continue to bask in the glow of his victory?

[TheGoodBits]

Guys, I realize that Bush did a terrible job. Everyone gets that already. When will people focus on the job that Obama is doing rather than continue to bask in the glow of his victory?

Just pointing out that this particular article isn't exactly balanced.

[DCMONEY]

Guys, I realize that Bush did a terrible job. Everyone gets that already. When will people focus on the job that Obama is doing rather than continue to bask in the glow of his victory?

I guess I never knew Obama was supposed to fix 8 years of mess in 30 days. I've learned one thing in life. It takes longer to clean up mess than it did to make it.

[#98QBKiller]

Guys, I realize that Bush did a terrible job. Everyone gets that already. When will people focus on the job that Obama is doing rather than continue to bask in the glow of his victory?

That's what people are trying to do, but we're still feeling the economic effects of the Bush Administrations' policies and Obama's plans to get us out of this mess are being declared failures before they even pan out, what's he been in office now, not even 60 days?

[GoSkins561]

Guys, I realize that Bush did a terrible job. Everyone gets that already. When will people focus on the job that Obama is doing rather than continue to bask in the glow of his victory?

Depends on the poster, to some Obama and his administration can do now wrong.

[Rdskn4Lyf21]

Obama's Radicalism is...

Sorry...that's what I thought of when I read the title

*Back to rockin' out :maniac:

[Midnight Judges]

I guess I never knew Obama was supposed to fix 8 years of mess in 30 days. I've learned one thing in life. It takes longer to clean up mess than it did to make it.

Apparently Republicans think Obama is the messiah, because their expectations are ungodly.

Here's Boskin 3 days after Bush left office:

http://online.wsj.com/article/SB123267012842308245.html

Shocker, no mention of how the 6000 point loss in the DOW is directly Bush's fault.

[Buford T. Justice]

Could someone explain to me the relation between stock prices and the economy? I understand that economic health can be inferred by the stock market, but does a stock losing money mean that the company is losing money? Aren't stocks a way a company raises money outside of selling their goods/services? Would a company be forced out of business if their stock drops to zero dollars? Could companies just lay off people and claim potential bankruptcy as an attempt to a bailout? Could the dropping stock market mean that near-retirement investors and others are just cashing in their stocks so they can retire or pay bills and not an indicator that everything has gone to plaid?

Sorry for the stupid questions...

[Rocky21]

When will people focus on the job that Obama is doing rather than continue to bask in the glow of his victory?

Oh I don't know. Considering that he has been in office less than 50 days, I'm willing to give the administration a little more time before I make any decisions on their effectiveness in office.

[Chump Bailey]

The markets are clearly not receptive to Obama's methods thus far and that is being kind. A drop of an additional 20% give or take during the last seven weeks should give him pause.

[Midnight Judges]

Depends on the poster, to some Obama and his administration can do now wrong.

Of course he can. But to pin the current economic trends (including every negative dip in the DOW, but of course not the positive ones) on the guy 45 days into his term is transparentlly partisan. And that's why all these Republicans making that claim now never made those claims against Bush even though the lion's share of the drops came under their boy.

[Chump Bailey]

Oh I don't know. Considering that he has been in office less than 50 days, I'm willing to give the administration a little more time before I make any decisions on their effectiveness in office.

That's fine, but we could be very easily saying the same thing six months or more down the line...

[Midnight Judges]

The markets are clearly not receptive to Obama's methods thus far and that is being kind. A drop of an additional 20% give or take during the last seven weeks should give him pause.

OK, then clearly we can't listen to Republicans like Boskin on the matter, because the DOW dropped by 42% on their watch.

[Reddrummer]

i love how we can blame obama for the current drops in the DOW, even though they are small compared to how badly the DOW dropped during the bush admin... really people?

[Gibbsisgod2006]

I guess I never knew Obama was supposed to fix 8 years of mess in 30 days. I've learned one thing in life. It takes longer to clean up mess than it did to make it.

Bush is not the only one to blame for Economy. People like Clinton, Alan Greenspan, and Braney Frank too. But really if you look at the Dow since President Obama has won the election it has really gone down the Crapper.

http://www.factcheck.org/elections-2008/who_caused_the_economic_crisis.html

[Metskins]

The DOW is what got us into this mess and our absolute, maniacal following of it.

[G.A.C.O.L.B.]

That's fine, but we could be very easily saying the same thing six months or more down the line...

What does that even mean? You can very easily say anything you want at anytime you want. The difference is <50 days is too short a time to pass judgement. 6 months, not so much. So while you could still say it in 6 months, it won't carry as much weight; if any.

[Thiebear]

Obama is doing quite well actually, he seems to be rather centrist for the moment.

Pelosi and Reid are well, being Pelosi and Reid and have more at fault than anyone.

Barney Frank and that Gorellick chick and Bush are deep into this also.

Got to give the man some time... another trillion and were good.. no really.. i'm not kidding this time... yeah 1 more thats it, i swear.

[Chump Bailey]

What does that at even mean? You can very easily say anything you want at anytime you want. The difference is <50 days is too short a time to pass judgement. 6 months, not so much. So while you could still say it in 6 months, it won't carry as much weight; if any.

It means that it's a HUGE gamble because thus far things are not exactly going so well in case you haven't noticed...

[GoSkins561]

Of course he can. But to pin the current economic trends (including every negative dip in the DOW, but of course not the positive ones) on the guy 45 days into his term is transparentlly partisan. And that's why all these Republicans making that claim now never made those claims against Bush even though the lion's share of the drops came under their boy.

Not true at all. I can remember many people not agreeing with Bush and his bail out. The big difference is Obama is punishing people with money, the people who invest, the people that make contributions to non profit organizations. Not to mention, Obama and his big government socialistic philosophy isn't doing anything to save the jobs in the free market, everything he does revolves around the government. Meanwhile, investors are currently holding on to their money, and our 401 k's drop and Obama and Company ignore the private sector.