obama needs to do something about the stock market NOW

#126
#126
BigPapaVol said:
not necessarily, but it has generally taken near disaster for a president to usher in broad and dramatic change in our politics. The worse it gets, unless the problems are ascribed to the head clown, the more likely he is to make a good case for socialization / nationalization and a "level playing field."
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What % of people hold absolutely nothing in the market? In the past I would bet that a greater percentage of people did not have any of their actual money in the market and so the market did not directly affect them (obviously it would indirectly affect them greatly but they might have been more blinded by this).

Now with so many people being affected in their 401ks, I just can't see how if the market does not improve, Obama will not be blamed.
 
#127
#127
Funny thread Droski. You need to drop the belief that President Obama remotely lives by the same philosophies as you. Thank your fellow Californians for their part!
 
#130
#130
allvol123 said:
I'm guessing you have earned most of your money. Those friends probably just fell into their money.
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i'd say the majority are teachers and gov't workers. i actually know quite a few democrats who refused to vote for him and all of those have jobs in the private sector..
 
#131
#131
#132
#132
oklavol said:
Cramer isn't that respected. When someone like Buffet comes out against Obama's plan, that would be news however. He's a democrat as well, I know he just had one of his worst performing years ever.
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bill clinton came out and said obama needs to start being more positive about the economy. is that respected enough for you>
 
#135
#135
allvol123 said:
Do any of you really believe this bothers Obama?
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i think he truly believes that since the economy will come around "long term" it doesn't matter what he does short term. he has political capital now, he might not have it later, therefore he thinks these social programs are far more important than a bunch of rich people. in other words he is an idiot and so are his supposed brilliant advisors.
 
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#136
#136
droski said:
i think he truly believes that since the economy will come around "long term" it doesn't matter what he does short term. he has political capital now, he might not have it later, therefore he thinks these social programs are far more important than a bunch of rich people. in other words he is an idiot and so are his supposed brilliant advisors.
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I agree, he is an idiot. He has political capital but nothing will get voters to change their tune faster than watching their bank accounts shrink. Then again, if your voters don't have anything to begin with, then why do you care if the market crashes.
 
#137
#137
barack-obama-jedi.jpg
 
#139
#139
Supply free Iphones, PS3s, a house, and healthcare and you could be the leader of this country for the next 50 years.
 
#140
#140
droski said:
he has political capital now, he might not have it later, therefore he thinks these social programs are far more important.
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And right now, that's like worrying about a rash on your arm when your in the path of an 18 wheeler.
 
#141
#141
rjd970 said:
So you can't name someone who would have the market on the up now. Got it. All you had to say was no.
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rjd970 said:
This is where we are. The drop has to happen sooner or later. Bush didn't get us out of a recession, he just put it off. That is all Romney would have done.

Question, what do you think is driving this plummet more...Obama's rhetoric, or the dire situation in the financial sector? I just read an article that Citi is selling below $1 dollar a share.
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If you don't believe Obama's admin is putting downward pressure on the market then you aren't paying attention.

1. One thing that would help the market is clarity - we've seen ZERO from this admin. Worse, they trot out non-plans and tout them as detailed strategies. This has had a clear negative effect as it prolongs uncertainty. Each successive time this happens the notion is reinforced that the rules have yet to be written. It would be better to do nothing then to leak possible approaches without settling on any.

2. The signaling of massive government involvement in healthcare and education have tanked stocks in these respective sectors. This is a clear policy direction that has had negative impact.

3. The announced plans to raise taxes - particularly on capital have depressed the upside of buying into the market. Add to this the war on corporations via taxes and demonizing CEOs we see a profoundly anti-business stance from this administration.

4. The "social transformation" agenda that is "damn the torpedoes, full speed ahead" spending that signals massive deficits with massive tax cuts as the only reasonable outlook.

So where are we? Anyone who didn't do anyone of these things would have been better for the market. No economically sane person would do all 4 of these. The market is reacting rationally here and we are all paying the price.
 
#142
#142
droski said:
bill clinton came out and said obama needs to start being more positive about the economy. is that respected enough for you>
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I remember reading that, and Clinton is right. However Obama has sharp people around him, one of his advisors on economics is Buffet. I think Buffet's advice, is what is guiding Obama now:

I know Barack Obama thinks pretty highly of Warren Buffett's economic wisdom. The so-called Oracle of Omaha has helped persuade Obama that higher taxes will have no effect on economic growth. Obama mentions it in his book, The Audacity of Hope. And in a recent New York Times interview, Obama said the following: "If you talk to Warren, he'll tell you his preference is not to meddle in the economy at all—let the market work, however way it's going to work, and then just tax the heck out of people at the end and just redistribute it."
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Obama Adviser Buffett to America: You?re Rich Enough - Capital Commerce (usnews.com)
 
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#143
#143
#144
#144
#145
#145
oklavol said:
I remember reading that, and Clinton is right. However Obama has sharp people around him, one of his advisors on economics is Buffet. I think Buffet's advice, is what is guiding Obama now:

Obama Adviser Buffett to America: You?re Rich Enough - Capital Commerce (usnews.com)
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Obama said the following: "If you talk to Warren, he'll tell you his preference is not to meddle in the economy at all—let the market work, however way it's going to work, and then just tax the heck out of people at the end and just redistribute it."
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Well he's only taking half of WB's advice - he's completely ignored the part about keeping the government from meddling in the economy and moved straight to the taxing part. Funny thing is, without the first part, you have a lot less to tax and redistribute.
 
#146
#146
volinbham said:
Well he's only taking half of WB's advice - he's completely ignored the part about keeping the government for meddling in the economy and moved straight to the taxing part. Funny thing is, without the first part, you have a lot less to tax.
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read an economist today who said he believes total gov't receipts next year will fall below $1 trillion.
 
#148
#148
volinbham said:
Funny how that works ain't it.
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the remainder of the article wasn't funny. That happens and nobody's buying our debt, so we have to cut gov't expenditures by about 60%. How about that little bit of gravy for some Obama gov't solutions?
 
#149
#149
rjd970 said:
If all of you hate Obama so much and want him to fail, why the hell don't you just move to China where you won't have to pay taxes. Seriously, leave, because the economic policies that were passes unfeathered for the last 6 of 8 years have turned out to be disasterous.
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Lived in China for 4 years...best time of my life, especially since I was single at the time.:clapping:
 
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