http://www.msnbc.msn.com/id/3683270/ ...Well, someone had to start this thread. I don't think Obama has done a particularly good job so far but he hasn't done anything particularly bad either, so it's somewhat of a downer to enter this forum and just anywhere that right-wingers abound. I just found it too ironic that the "index" for the Administration's performance is roaring upwards and no one is really peeping a word. Maybe this thread will start some people on it. I think the stock index is way too simplistic of a measure to define the economic reality of the time, although it is certainly a sign of optimism and hope that it is going up. I don't really consider this conclusive evidence that the recession is ending or that Obama is doing things right, but it is nice to see amid all the "doom, stock market going down" threads.
It shouldn't be too surprising. There was good economic news today, including a rise in existing home sales. The toxic asset plan also boosts banks, because it will help clean up their balance sheets. Will this get banks lending again? I doubt it, and it shouldn't. Banks still lend, just not to people that are likely to default. Today is just another example why the DOW doesn't necessarily reflect the overall economy.
I can understand the need to pump capital into the banks immediately and therefore this plan toxic asset purchase plan wasn't implemented immediately. However i think its much better than buying capital in the banks because not only does it provide funds, it helps clean up the balance sheet at the same time.
So when the Dow started to nose dive on the day after election and inauguration day, it was determined that it was just a coincidence. Now that its going up a few ticks because of an immediate measure from the gov, it means "mission accomplished" for obama? Can't have it both ways.
If you only read the post before you replied; I don't consider this conclusive evidence of anything. I have always debased people who have used the stock market as some kind of "evidence" that Obama is tanking. Well, guess what, your just fruits are in; the index is going up, roaring up as a matter of fact. What are we to say about that? Like you justly pointed out, can't have it both ways. By the indexing and measurement of certain right-wingers, it appears Obama has struck an unnerving area of success.
yes, because the dow went down on inauguration day because wall street investors were hoping he wouldn't actually be inaugurated.
damn, you couldn't wait to be a hypocrite for one freakin day dude, you just started a thread today on how he was smiling and joking during an interview about the economy, now you're criticizing his doom and gloom? unfreakinbelievable.
He has gone from 'worst crisis' 'depression' etc really negative to more positive lately. I think its that he wanted to talk about how bad things are so when they turn around he'll look like the hero. Its just politics and no one is above it.
well it has spoken because this is a massive fkin handout to banks and anyone who wants to buy this garbage. taxpayer money is the one taking all the risk and not private money. the markets will be very happy if the banks can actually flip a trillion of their garbage assets to the govt for inflated prices. this plan should also create some nice artificially high marks on those crap assets. par for the course with geithner.
NOW he's talking about the bright future...after all of his doom and gloom talk for the first 30 days (and campaign). And this is only because of the heat he was starting to take. Take the blinders off, son.
I am a republican who was for McCain last election. I dont hate Obama, in fact think he is a pretty cool guy. Not a big fan of some of his "cohorts" but the man seems like a good guy to me, and wouldnt mind shooting some hoops with him. I have felt since he took office that the economy was going to start coming around (at least for the first year or so) provided he made some no-nonsense moves that he pretty much has. The reason I thought the economy was going to start turning around is one reason alone: Consumer Confidence. So I dont see the Dow jumping today as anything other than a rise in the roller coaster of an economy we are experiencing lately. Sure it will probably dip later on in the week/month/year, but so what. Its very telling that Bush could theoretically have pushed all the right buttons his last year in office and it would not have helped much at all. Again, back to that consumer confidence.
And the Republicans were making the talk show rounds this Sunday in order to talk down the economy. I guess "da markets" don't listen to them.
