SAM_Hard8 50 Posted October 7, 2009 Share Posted October 7, 2009 If he is actually taking his time and really thinking out this Afghanistan surge thing I'll give him some points. Link to post Share on other sites
timwakefield 68 Posted October 14, 2009 Share Posted October 14, 2009 DJIA closed above 10,000 today. But, but I thought Obama destroyed the economy!? Link to post Share on other sites
85suited 0 Posted October 14, 2009 Share Posted October 14, 2009 DJIA closed above 10,000 today. But, but I thought Obama destroyed the economy!?What are more important indicators of our health are things like GDP growth, trade deficits (or surpluses if you care to go back to pre 1975 days), savings versus debt, unemployment, and inflation. While I like to see the DOW go up for selfish reasons (my portfolio is more valuable), I am fearful the other factors I mentioned that are the real measure of an economy's health, are not doing very well. In fact, it's looking really bad. In fact, this run up could be the precursor to inflation ... bad inflation. Our debt, declining dollar value, and cost of doing business are tell-tale signs that's where we are headed.unemployment +10% & Most frighteningly, the total U.S. debt was $50.8 trillion. And soaring. Link to post Share on other sites
hblask 1 Posted October 15, 2009 Author Share Posted October 15, 2009 DJIA closed above 10,000 today. But, but I thought Obama destroyed the economy!?During the crash after he was elected, we were told it didn't reflect on Obama. So only the upside does? Link to post Share on other sites
timwakefield 68 Posted October 15, 2009 Share Posted October 15, 2009 During the crash after he was electedThe stock crash began in the summer of 2008, and the major crash was end of September/early October. It bounced up and down for the next couple months but stayed about the same. The day after Obama was inaugurated it was at 8,228. It then took another major drop, down to 6,547 by March 4. It has since been rising pretty steadily and is nearly back to 10,000. So, do you mean during the second crash? Because the first major crash was before the election, and way before the inauguration. , we were told it didn't reflect on Obama. So only the upside does?No, only the downside should reflect on him. That's also fair. Link to post Share on other sites
Pot Odds RAC 23 Posted October 15, 2009 Share Posted October 15, 2009 DJIA closed above 10,000 today. But, but I thought Obama destroyed the economy!?Shortly after taking office when there was a bad Wall Street Week, Obama himself said he doesn't consider the DJIA to be best indicator of US Economic Health. Quit drinking the Kool-Aide (yeah, I know "Potatoe") Link to post Share on other sites
Naked_Cowboy 0 Posted October 15, 2009 Share Posted October 15, 2009 car manufacturer stocks saw some nice gains while their sales were propped up by cash for clunkers. the crash we would've seen if we had let the banks fail would have taken the S&P to 300 or worse. most say the former was bad and some say the latter would've been good for us long-term.I think it's really silly to pay any attention to what the market does/did when discussing policy decisions.see, Obama knows what he's talking about.I'm sure you just left off the part of the quote where he says the S&P is a far more accurate assessment.+1000 for Obamaare we on the samhard8 grading scale today? Link to post Share on other sites
Pot Odds RAC 23 Posted October 15, 2009 Share Posted October 15, 2009 I am sure that a 10,000 DOW is comfort to those affected by the still rising unemployment rate which in in September reached 9.8% The DOW almost making it back to where it was a year ago certainly overshadows a 26 year high in unemployment rates. Link to post Share on other sites
Pot Odds RAC 23 Posted October 15, 2009 Share Posted October 15, 2009 The Democrats have one single bullet in their "Economic Recovery" gun. Spend their way out. This NYT article really shows that they are playing a game of spend and wait. And if that doesn't work, spend more. Then claim victory when (if?) the economy picks up as it likely would have all on its own.http://www.nytimes.com/2009/10/06/us/polit...ref=todayspaper As Democrats have found, aiding those who have lost their jobs is simpler than preventing more layoffs and creating new jobs. “There may not be anything we can do,” said a Democratic Congressional leadership aide who spoke on condition of anonymity because he was not authorized to discuss the matter. Link to post Share on other sites
FCP Bob 1,312 Posted October 15, 2009 Share Posted October 15, 2009 I am sure that a 10,000 DOW is comfort to those affected by the still rising unemployment rate which in in September reached 9.8% The DOW almost making it back to where it was a year ago certainly overshadows a 26 year high in unemployment rates.Unemployment rates are a bad indicator to use since unemployment lags when an economy is recovering.During every recovery from a recession unemployment is still going up during the early stages of the recovery even while the economy is growing. There are a few reasons for that.1. There is a growth rate required that is above zero to keep unemployment from going up so even if the growth rate might be 1% for example that won't be enough to keep unemployment from rising.2. Most businesses take time to decide to take on workers and will wait until they are sure that their increase in business has justified taking on added staff rather than just increasing overtime etc for existing staff.3. As the economy gets better more people enter the work force and are actively looking for work. The unemployment rate is a function of those who are either in the workforce or are actively looking for work. When times are bad some people make decisions to leave the workforce and go back to school or delay entering the workforce which decreases the numbers of people who are counted as unemployed even if they aren't working. When they decide to try to look for a job en mass that sometimes means that the unemployment rate will go up even when the total amount of employment has also gone up. This also means that during the depths of recessions the employment situation is actually worse than just looking at the unemployment rate since people who are no longer looking for work aren't counted in the stats. Link to post Share on other sites
timwakefield 68 Posted October 15, 2009 Share Posted October 15, 2009 I am sure that a 10,000 DOW is comfort to those affected by the still rising unemployment rate which in in September reached 9.8% The DOW almost making it back to where it was a year ago certainly overshadows a 26 year high in unemployment rates.Sorry, I'll try not to say anything positive about anything when there is such a terrible unemployment rate. Link to post Share on other sites
Pot Odds RAC 23 Posted October 16, 2009 Share Posted October 16, 2009 Sorry, I'll try not to say anything positive about anything when there is such a terrible unemployment rate.Yeah. That's clearly what I'm saying.Good job. Link to post Share on other sites
timwakefield 68 Posted October 16, 2009 Share Posted October 16, 2009 Yeah. That's clearly what I'm saying.Good job.What were you saying then?Me: Dow is back up.You: Yeah but it's not a real measure of the economy and unemployment is still terrible.Me: Oh. Well...at least the Dow is back up! I mean, that's not a bad thing, right? Link to post Share on other sites
85suited 0 Posted October 16, 2009 Share Posted October 16, 2009 DJIA closed above 10,000 today. But, but I thought Obama destroyed the economy!?You: see I told you Obama was a genius since the DJIA crossed 10,000, Us: more to the economy than the DJIA crossing 10K, but by all means, please keep drinking the kool aide Link to post Share on other sites
timwakefield 68 Posted October 16, 2009 Share Posted October 16, 2009 DJIA closed above 10,000 today. But, but I thought Obama destroyed the economy!? You: see I told you Obama was a genius since the DJIA crossed 10,000,That's not a very good translation. Link to post Share on other sites
85suited 0 Posted October 16, 2009 Share Posted October 16, 2009 http://thecitysquare.blogspot.com/2009/10/...-francisco.htmlThey must of bussed in all the protestors from the surrounding red counties & statesEven in San Francisco, Pres. Obama cannot escape protesters. He held a fundraiser at the St. Francis Hotel in San Francisco tonight (Thursday) and a crowd turned out across the street on Union Square to let him know what they thought: Link to post Share on other sites
Balloon guy 158 Posted October 16, 2009 Share Posted October 16, 2009 http://thecitysquare.blogspot.com/2009/10/...-francisco.htmlThey must of bussed in all the protestors from the surrounding red counties & statesMy favorite picture: Link to post Share on other sites
akoff 0 Posted October 16, 2009 Share Posted October 16, 2009 Bottom line is we are spending more, on nothing (stimulus), then we can afford. We have no budget for it nor do we have a plan on how to pay for it. We are facing an economic reality that our government is taking less revenue in taxes due to lack of income and flow of money but spending more. This is going to choke us to death…it is really simple. The economy is not going to continue to recover, there will be another / continue crisis. The housing market will get hurt again, more jobs will be lost and the most importantly the ones that remain will pay less. If you chose not see this it will only hurt more when it happens. You can’t spend more then you make forever. You can’t tax / penalize / attack the people that supply all of the growth…you can’t feed every person, you are entitled to nothing!! If you want something get your ass out there and work for it. The foundation is shit and the house is going to fall. The question is do we as a country let it happen? Link to post Share on other sites
timwakefield 68 Posted October 16, 2009 Share Posted October 16, 2009 you can’t feed every person, you are entitled to nothing!! If you want something get your ass out there and work for it.What about young children? Link to post Share on other sites
JoeyJoJo 18 Posted October 16, 2009 Share Posted October 16, 2009 If you want something get your ass out there and work for it. What about young children?Good point. You can get young children pretty easily if you know where to look. Link to post Share on other sites
FCP Bob 1,312 Posted October 16, 2009 Share Posted October 16, 2009 What about young children? Link to post Share on other sites
Balloon guy 158 Posted October 16, 2009 Share Posted October 16, 2009 In case anyone wanted to know where we currently stand...It is Obama - 1,230,300,000,528That is the running total of everyone's current scores.Coincidently it is also the amount of money that has been spent on wasteful government programs since he's taken office almost to the dollar.I will recalculate in another 6 months to keep us current.Please someone check my work though so I don't have to go through all 1475 posts. Link to post Share on other sites
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