Quote:
Originally Posted by Derwood
CNN also had a Nobel winning economist on who said that using the day-to-day stock market trends as a metric for the economy is the wrong thing to do.
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I am pretty much looking at the trend since the market started to price in Obama's victory.
In June 2008, when Obama secured the nomination the Dow was at about 12,600, today it is at about 7,200. That is a lot of hope down the drain, don't you agree?
---------- Post added at 07:28 PM ---------- Previous post was at 07:25 PM ----------
Quote:
Originally Posted by Rekna
Because Bush and the conservative policies that he enforced have lead us into a financial crisis which is causing the stock market to pretty much tank every day.
The other day I had pizza for lunch and the next day the stock market tanked. Clearly I shouldn't eat pizza anymore...
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When do you stop blaming Bush. During his last two years he was a lame duck. And, I seemed to recall Bush got blamed for the recession when he first took office, and was not given any credit for the recovery after 9/11. So what gives? Do we just argue points based on what we want to believe or on actual information in some form of consistency?
---------- Post added at 07:32 PM ---------- Previous post was at 07:28 PM ----------
Quote:
Originally Posted by shakran
Both. People are more optimistic. "The economy will get better, at which point I will have money to invest."
Just because they're not investing doesn't mean they're not optimistic. . . They simply don't have the money to invest.
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It is not just people not investing new money. They are taking money out of the market. The savings rate is up and people are paying down debt. All these indicate pessimism.
{added} Oh, and here is another good one. They just doubled the federal deficit, and now Obama is going to cut it in half by the end of his first term. What does that mean folks? If this was not so serious, I would be laughing out loud. It has to be a joke the way the pundits are so amazed by Obama's plan.