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Buyers remorse: Obama declares war on business

Discussion in 'BBS Hangout: Debate & Discussion' started by basso, Mar 1, 2009.

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  1. zantabak1111

    zantabak1111 Member

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    haha nice basso, can you say the wealthy have no confidence in Obama the Messiah's plans? Wait Obama hates the rich so he probably could care less, the majority of his supporters own absolutely NO stock whatsoever. I'm just waiting for the outsourcing of most jobs either overseas or to technology then we'll really hear people squeal.
     
    #81 zantabak1111, Mar 2, 2009
  2. mc mark

    mc mark Contributing Member

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    Nice company you're keeping these days basso.
     
    #82 mc mark, Mar 2, 2009
  3. Major

    Major Member

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    In case you were living on another planet, that's a continuation of a trend that's been going on since 2007, and accelerated in September 2008.
     
    #83 Major, Mar 2, 2009
  4. Major

    Major Member

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    Factually incorrect. You really can't even make a three sentence post without having something that's factually wrong in it? This is just getting beyond pathetic.
     
    #84 Major, Mar 2, 2009
  5. Dairy Ashford

    Dairy Ashford Member

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    I watch this guy enough on McLaughlin a while back and CNBC to be genuinely excited: he's probably got moderate name recognition and charisma, compared to Dodd. And having a trained economist in Senate, on either side of the aisle, is a good thing right now.

    Hopefully the old jack and coke problem won't trip him up.
     
    #85 Dairy Ashford, Mar 2, 2009
  6. Deckard

    Deckard Blade Runner
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    I'm having basso remorse.

    This zan tabak 0000/1 kid is really whoring for attention. The more people respond, the more absurd his posts. He's as busy claiming he has money as he is claiming no one here has any. Not if you are a liberal, a Democrat, or both. Check that... if you are a moderate conservative, he feels the same way, whatever way that is, which would be whatever way he thinks will get the most attention.

    He reminds me of someone. Can't place him... yet.
     
    #86 Deckard, Mar 2, 2009
  7. SamFisher

    SamFisher Contributing Member

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    Dignifiying "drop in dow is cuz Obama!111!! posts" with a response is so February.
     
    #87 SamFisher, Mar 2, 2009
  8. Refman

    Refman Contributing Member

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    You see, he has several characteristics that are familiar.

    1. He has the social skills of Lassie.
    2. He has the charm of Adolf Hitler.
    3. He has the critical thinking skills of a garden slug.
    4. He has the political awareness and world view of a complete shut in.

    At least T_J and even basso occasionally say something amusing. This guy is just a hateful, pathetic excuse of a person.

    He speaks of how awful the people here are and how wonderful his native land is. If it were so much more wonderful, you'd think he'd go back.
     
    #88 Refman, Mar 2, 2009
  9. Deckard

    Deckard Blade Runner
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    Does he like sheep? ;)
     
    #89 Deckard, Mar 2, 2009
  10. Refman

    Refman Contributing Member

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    After reading his posts over the last few days, I'm pretty sure he doesn't like anybody.
     
    #90 Refman, Mar 2, 2009
  11. basso

    basso Contributing Member
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    Obama Bear Market Punishes Investors as Dow Slumps

    [rquoter]March 6 (Bloomberg) -- President Barack Obama now has the distinction of presiding over his own bear market.

    The Dow Jones Industrial Average fell 20 percent since Inauguration Day, the fastest drop under a newly elected president in at least 90 years, according to data compiled by Bloomberg. The gauge has lost 53 percent from its October 2007 record of 14,164.53, slipping 4.1 percent to 6,594.44 yesterday.

    More than $1.6 trillion has been erased from U.S. equities since Jan. 20 as mounting bank losses and rising unemployment convinced investors the recession is getting worse. The president is in danger of breaking a pattern in which the Dow rallied 9.8 percent on average in the 12 months after a Democrat captured the White House, according to data compiled by Bloomberg.

    “People thought there would be a brief Obama rally, and that hasn’t happened,” said Uri Landesman, who oversees about $2.5 billion at ING Groep NV’s asset management unit in New York. “It speaks to the carnage that’s in the economy and the lack of confidence in the measures that have been announced.”

    A bear market is defined as a decline of 20 percent or more.

    Buying shares “is a potentially good deal” for long-term investors, Obama said March 3. He compared daily fluctuations to a tracking poll in politics and said he wouldn’t adjust his policies just to meet market expectations.

    Congress last month enacted Obama’s $787 billion package of tax cuts and spending on roads, bridges and public buildings. His 2010 budget indicated the government’s financial rescue may need another $750 billion after an initial $700 billion.

    Getting Cheaper

    The Dow average has dropped 31 percent since Obama’s election. The 30-stock gauge trades at 8.04 times annual earnings, the cheapest since 1995 and down from 10.06 times on Inauguration Day.

    Citigroup Inc. led the plunge, losing 71 percent. The government proposed taking a 36 percent stake in the New York- based bank, cutting the percentage owned by shareholders. Detroit-based General Motors Corp. tumbled 53 percent after the largest U.S. automaker said it needs more government aid.

    “It’s the Obama bear market,” said Dan Veru, who helps oversee $2.8 billion at Palisade Capital Management in Fort Lee, New Jersey. “We don’t know what the rules are in so many different areas the government is touching.”

    The Dow average gained 2 percent to 6,726.18 as of 9:49 a.m. in New York today after a government report showed the rate of job losses slowed last month.

    Bank Losses

    The U.S. economy contracted at a 6.2 percent annual rate in the fourth quarter, the most since 1982, the Commerce Department said last week. Unemployment jumped to 7.6 percent in January, the highest since 1992, as Americans fell behind on their mortgages and banks seized homes at a record pace.

    Losses at financial companies worldwide that grew to about $1.2 trillion sent the Standard & Poor’s 500 Index to a 38 percent retreat last year, the steepest since 1937.

    “Prospects for recovery in the financial sector, despite all the government help, still seem rather remote,” said John Carey, who manages about $8 billion at Pioneer Investment Management in Boston. “We’ve had a weak economy for a couple of years, and we aren’t seeing the stimulus working at this point. That is what weighs on investors’ minds.”

    The Dow average took eight months to decline 20 percent following the inauguration of George W. Bush, reaching the level on Sept. 20, 2001, nine days after terrorists attacked the World Trade Center in New York and the Pentagon in Washington.

    Herbert Hoover

    The crash of 1929 occurred seven months into the administration of Herbert Hoover, who presided over an 89 percent plunge in the Dow between September 1929 and July 1932, the steepest retreat ever.

    Only twice has the benchmark gauge slipped in the 12 months after the election of a Democratic president since 1900, after Woodrow Wilson’s victory in 1912 and Jimmy Carter’s in 1976.

    The Dow entered its most recent bear market on July 2, 2008, when a 167-point decrease gave it a 20 percent loss from its record 14,164.53 on Oct. 9, 2007. Unlike the Standard & Poor’s 500 Index, the Dow’s rally from its November low of 7,552.29 fell short of a 20 percent bull market gain, ending at 19.6 percent.

    “Obama should be listening to the stock market more than talking to it,” said Kenneth Fisher, the billionaire chairman of Woodside, California-based Fisher Investments Inc., which oversees $22 billion. “He hasn’t gotten out of the gate well.”[/rquoter]
     
    #91 basso, Mar 6, 2009
  12. El_Conquistador

    El_Conquistador King of the D&D, The Legend, #1 Ranking
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    Every day, the WSJ and CNBC are launching an onslaught against Obama. Public opinion of investors has already turned against him -- sharply -- as he takes ownership of the Obama Recession through his failed policies. The market has rejected his mangled approach to the problem and has utterly rejected his attempts at deception to advance his liberal agenda. The thought that overhauling health care and creating these fictional 'green jobs' will solve the economic crisis is pure fantasy.
     
    #92 El_Conquistador, Mar 6, 2009
  13. mc mark

    mc mark Contributing Member

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    Damn Obama's good!

    Just 45 days to destroy 30 years of irresponsible republican fiscal policy!

    Yes We Can!
     
    #93 mc mark, Mar 6, 2009
  14. mc mark

    mc mark Contributing Member

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    March 5, 2009

    Obama Approval Stays Sky High

    The latest Hotline/Diageo poll shows President Obama's favorability ratings remain high, with more than two-thirds of voters (68%) expressing a favorable opinion of him. In addition, 70% believe that he will be able to bring "real change" to the way things are done in Washington.

    Additionally, voters are encouraged by the group of economic advisers surrounding him, with 64% expressing confidence in the team Obama brought into the White House.

    A new Fox News poll shows Obama's approval rating at 63%.
     
    #94 mc mark, Mar 6, 2009
  15. SamFisher

    SamFisher Contributing Member

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    This is a very silly statement.

    If we were to "listen" to stock market indices as an informed pronouncement on economic conditions and public policy, then we would have taken the message in October 2007 that our nation's economic foundation, future, and policy have never before been stronger, brighter, or sounder. We would have heard the same message in 1929.
     
    #95 SamFisher, Mar 6, 2009
  16. mc mark

    mc mark Contributing Member

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    More from the FOX poll...

     
    #96 mc mark, Mar 6, 2009
  17. El_Conquistador

    El_Conquistador King of the D&D, The Legend, #1 Ranking
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    That's exactly the problem. The market has outright rejected Obama's plans as being good for the economy.
     
    #97 El_Conquistador, Mar 6, 2009
  18. SamFisher

    SamFisher Contributing Member

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    I wonder how the market react if the stimulus plan, including the tax cuts and spending, were repealed, and the Treasury decided that AIG, C, BAC were allowed to fail - I imagine Dow 36,000 would be a distinct possibility.
     
    #98 SamFisher, Mar 6, 2009
  19. rocketsjudoka

    rocketsjudoka Contributing Member
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    Reading CNBC and some of the other critics of Obama reminds me a lot of reading the GARM after a two game Rockets losing streak. The same kind of sky is falling panic. Obama has only been in office for about a month and a half and the stimulus package isn't even fully in effect yet and a budget hasn't been passed. I have my doubts and concerns about both of those but lets wait awhile to see how those things actually affect the economy before we declare doom yet.
     
    #99 rocketsjudoka, Mar 6, 2009
  20. pgabriel

    pgabriel Educated Negro

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    can someone do a search on how many times this guy and his big brother said clinton and the presidency has nothing to do with the economy.
     
    #100 pgabriel, Mar 6, 2009
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