Gibbsisgod2006 Posted March 6, 2009 Share Posted March 6, 2009 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. Man are you kidding me President Obama and Pelosi are in kahoots together.This Iraq War draw down issue that they are fighting is an act to make you believe that President Obama is a centrist. They are just playing good cop bad cop. If you think that President Obama is centrist go ahead and look at that the Democratic slush fund that President Obama calls a Stimulus Package. Link to comment Share on other sites More sharing options...
Chump Bailey Posted March 6, 2009 Author Share Posted March 6, 2009 OK, then clearly we can't listen to Republicans like Boskin on the matter, because the DOW dropped by 42% on their watch. He inherited a bad situation and his actions thus far have compounded it. It's his show now... Link to comment Share on other sites More sharing options...
JohnLockesGhost Posted March 6, 2009 Share Posted March 6, 2009 I already have serious Obama fatigue. If I hear how the gubmint is going to "create" 3 million new jobs one more time, I'm going to throw a shoe at my TV. When's the next election? Link to comment Share on other sites More sharing options...
The Brave Little Toaster Oven Posted March 6, 2009 Share Posted March 6, 2009 I'm waiting for AAA to chime in...it always makes my day Link to comment Share on other sites More sharing options...
deejaydana Posted March 6, 2009 Share Posted March 6, 2009 It is completely pointless to cast blame to either side at this point. You sell yourself short if you blame Bush entirely but you also do the same if you say Obama's not doing his job when he's only been in office 5 weeks. We're all better than resorting to fingerpointing, it takes no intelligence to throw out the "he's not my President" line. My God is that an old one for me at this point. Link to comment Share on other sites More sharing options...
Midnight Judges Posted March 6, 2009 Share Posted March 6, 2009 Not true at all. I can remember many people not agreeing with Bush and his bail out. That is not even remotely the same as blaming him for every little dip in the DOW. 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 Your philosphy performed worse. Under Bush's tax cuts we brought on this recession, the trillion dollar deficit, the 6000 point drop in the DOW, and the unemployment trend. These are all trends that started under Bush. http://www.growthstock.com/image-files/dow_jones_industrial_average_stocks_over_200_day_moving_average.gif Obama has cut taxes to the tune of a quarter trillion dollars. You must think Obama is a god if you think he or anyone else would have the ability to reverse every trend in his first Month and a half. Link to comment Share on other sites More sharing options...
deejaydana Posted March 6, 2009 Share Posted March 6, 2009 What's hurting the Dow is lack of a clear signal from Washington coupled with the (still) cloudy nature of the financial conditions of some (former?) bellwether U.S. companies. It's spooking the entire global market. Banks must be addressed as priority #1 (and quickly). Who's fault ultimately is it? You know, I don't really care I just want fast and smart action from the current guy in charge. We can figure out blame later (if you want & if it makes you sleep better at night). Link to comment Share on other sites More sharing options...
Lombardi's_kid_brother Posted March 6, 2009 Share Posted March 6, 2009 Depends on the poster, to some Obama and his administration can do now wrong. You are right. After 45 days, it's over. He gave it a shot. He failed. We should just have a new election every 60 days until something good happens. Link to comment Share on other sites More sharing options...
Gibbsisgod2006 Posted March 6, 2009 Share Posted March 6, 2009 That is not even remotely the same as blaming him for every little dip in the DOW. Your philosphy performed worse. Under Bush's tax cuts we brought on this recession, the trillion dollar deficit, the 6000 point drop in the DOW, and the unemployment trend. These are all trends that started under Bush. http://www.growthstock.com/image-files/dow_jones_industrial_average_stocks_over_200_day_moving_average.gif Obama has cut taxes to the tune of a quarter trillion dollars. You must think Obama is a god if you think he or anyone else would have the ability to reverse every trend in his first Month and a half. Midnight Judge Bush is not the only to blame for the Economic Down turn. Many are to blame. http://www.factcheck.org/elections-2008/who_caused_the_economic_crisis.html Link to comment Share on other sites More sharing options...
Lombardi's_kid_brother Posted March 6, 2009 Share Posted March 6, 2009 That's fine, but we could be very easily saying the same thing six months or more down the line... My team of economic advisors (which is actually pretty impressive when you consider I am broke) has been saying since October: 18 to 24 months. So...I'm hoping for something positive by January of 2010. If there is nothing hopeful by then, I will start to panic. These problems are at least 10 years in the making (I actually think everything started around the collapse of the tech bubble when housing became the next way to make a fast buck). To think it can be fixed in six months or 45 days is madness. Link to comment Share on other sites More sharing options...
Midnight Judges Posted March 6, 2009 Share Posted March 6, 2009 Midnight Judge Bush is not the only to blame for the Economic Down turn. Many are to blame. Totally agree. The economy does not revolve singularly around the President. Tell that to the hacks who blame Obama for every -50 point blip. Link to comment Share on other sites More sharing options...
DieselPwr44 Posted March 6, 2009 Share Posted March 6, 2009 I never knew that Obama made a trip to Minnesota to borrow Walter Mondale's economics book. Who knew?? Link to comment Share on other sites More sharing options...
Art Monk Fan Posted March 6, 2009 Share Posted March 6, 2009 New and expanded refundable tax credits would raise the fraction of taxpayers paying no income taxes to almost 50% from 38%. This is potentially the most pernicious feature of the president's budget, because it would cement a permanent voting majority with no stake in controlling the cost of general government.This is the part that should concern anyone interested in a responsible government and reduced national debt: a permanent majority underclass voting en bloc to maintain the nanny state. Link to comment Share on other sites More sharing options...
NavyDave Posted March 6, 2009 Share Posted March 6, 2009 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. You mean the last 2 years and it was Bush and the Democrat controlled congress that Obama was also a part of. But people will try to ignore the booming economy, record employment during his first 6 years and how Bush during the early months of his administration. also had to deal with wall street scandals like Enron and WorldCom and Link to comment Share on other sites More sharing options...
dwbiggs Posted March 6, 2009 Share Posted March 6, 2009 Something you can blame both Bush and Obama for... http://online.wsj.com/article/SB123630304198047321.html Link to comment Share on other sites More sharing options...
Predicto Posted March 6, 2009 Share Posted March 6, 2009 Wasn't Michael Boskin an economic advisor to Bush? I seem to remember that name from somewhere. edit - it appears Boskin was not just any advisor, but was the Chairman of Bush's Council on Economic Advisors. He is also famous for not caring if the manufacuring base of the US goes overseas, saying: "It does not matter if the U.S. makes computer chips or potato chips". I'm not that interested in his opinion right now. It has a bit too much of the "pass the blame to the new guy" about it. Link to comment Share on other sites More sharing options...
Duckus Posted March 6, 2009 Share Posted March 6, 2009 Will someone please explain to me the movement in the stock market from October 2007 through October 2008. Thank you. Link to comment Share on other sites More sharing options...
Gibbsisgod2006 Posted March 6, 2009 Share Posted March 6, 2009 Totally agree. The economy does not revolve singularly around the President. Tell that to the hacks who blame Obama for every -50 point blip. Well every time he talks about the economy the Dow drops and has dropped since winning the election. Link to comment Share on other sites More sharing options...
Art Monk Fan Posted March 6, 2009 Share Posted March 6, 2009 Another (admittedly partisan, though pretty accurate) voice on the subject: Four months after winning the election, six weeks after his swearing-in, Obama has yet to unveil a plan to deal with the banking crisis.What's going on? "You never want a serious crisis to go to waste," said chief of staff Rahm Emanuel. "This crisis provides the opportunity for us to do things that you could not do before." Things. Now we know what they are. The markets' recent precipitous decline is a reaction not just to the absence of any plausible bank rescue plan, but also to the suspicion that Obama sees the continuing financial crisis as usefully creating the psychological conditions -- the sense of crisis bordering on fear-itself panic -- for enacting his "Big Bang" agenda to federalize and/or socialize health care, education and energy, the commanding heights of post-industrial society. Clever politics, but intellectually dishonest to the core. Health, education and energy -- worthy and weighty as they may be -- are not the cause of our financial collapse. And they are not the cure. The fraudulent claim that they are both cause and cure is the rhetorical device by which an ambitious president intends to enact the most radical agenda of social transformation seen in our lifetime. Full article. Link to comment Share on other sites More sharing options...
Skins24 Posted March 6, 2009 Share Posted March 6, 2009 Under Bush's tax cuts we brought on this recession... Obama has cut taxes to the tune of a quarter trillion dollars. So you're mad at Obama for cutting since they obviously start recessions? Link to comment Share on other sites More sharing options...
GoSkins561 Posted March 6, 2009 Share Posted March 6, 2009 These are all trends that started under Bush. http://www.growthstock.com/image-files/dow_jones_industrial_average_stocks_over_200_day_moving_average.gif Obama has cut taxes to the tune of a quarter trillion dollars. You must think Obama is a god if you think he or anyone else would have the ability to reverse every trend in his first Month and a half. Let me rephrase and I said this yesterday before even reading this article today. Obama is not completely to blame for the state of the economy, however investors and the private market hate the fact that the Obama administration is sticking it's hand in every thing private. As for Obama reversing the stock market, probably unlikely, especially when he starts taxing the hell out of the people who put the money into the market to begin with. Link to comment Share on other sites More sharing options...
LegionOfDoom Posted March 6, 2009 Share Posted March 6, 2009 I say **** you Dow Jones!!!! Link to comment Share on other sites More sharing options...
Koolblue13 Posted March 6, 2009 Share Posted March 6, 2009 This is not the fault of Bush. This is the fault of a lot of people. All Dems and Reps. If you put all the blame on Bush, you are an ass. Obama is not helping it and things will get worse and we will then be very broke and in the same position. Link to comment Share on other sites More sharing options...
@DCGoldPants Posted March 6, 2009 Share Posted March 6, 2009 I'm not thrilled with this Admin right now either. But, I don't want to hear the WSJ or Wallstreet blame anybody for the current meltdown except themselves. Like this issue was born 7 weeks ago. Get real. These folks are crooks. Link to comment Share on other sites More sharing options...
Art Monk Fan Posted March 6, 2009 Share Posted March 6, 2009 Why is everyone addressing this as a zero-sum proposition? It is perfectly possible to realize Obama is exacerbating the problem, without blaming him for the crisis he inherited or expecting him to have fixed it in five months. We get it: he inherited the problem. We get it: he won't fix it overnight. But neither of those statements absolves him from the criticism that his current rhetoric and tactics are making things worse, at least in the near term. Link to comment Share on other sites More sharing options...
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