[ETWolverine]

Have you noticed that every time Obama or a member of his administration say something or take some sort of action, the market tanks? Going backward in time, here are some examples.


March 5, 2009 - Treasury Secretary Tim Geithner give testimony to Senate Finance Committee. DJIA down 279.57

March 2, 2009 - President Obama appoints Kathleen Sebilius as Seretary of HHS. DJIA down 293.19, falls below 7000 for first time since 1997.

February 27, 2009 - President's Address to Camp Lejune, North Carolina, regarding pulling troops out of Iraq by 2010. DJIA down 118.04.

February 26, 2009 - CNN reports President Obama's intent to withdraw troops from Iraq by the end of 2010. DJIA down 86.98

February 24th, 2009 - President's Address to Congress (the not-a-State-of-the-Union-Address)
February 25th, 2009 - DJIA down 78.69

February 13, 2009 - Stimulus Bill compromise passed by Congress
February 17, 2009 - Stimulus Bill compromise signed into law - DJIA down 293.03

February 10, 2009 - Stimulus Bill approved by Senate. DJIA down 380.48

1/30/2009 - Statement by Obama on SCHIP Passing the Senate. DJIA down 148.15

1/10/09 - Inauguration of President Obama
1/9/09 - DJIA down 139.62
1/12/09 DJIA down 125.29.

1/6/09 - Senate introduces Stimulus Bill
1/7/09 - DJIA down 227.24




I know that correlation is not causation. Nevertheless, the evidence is somewhat damning.

On the other side of the coin, I see a light at the end of the tunnel. There's only 6700 points left for the DJIA to go down before it hits 0. After that, there's nowhere to go but up. :D

I hear that when Obama announced that the troops in Iraq were cominjg home, they said "Thanks, but no thanks. The economy is better over here."

Elliot

[N0help4u]

Yeah, I have noticed and I don't think it is total coincidence.
Like I have been hearing about the tea parties and the richer people 'going gulty'
(From Atlas Shrug) Not purely coincidence at all.

[kp2171]

If the markets listened to glenn beck, before obama ever took office, theyd be even lower. He has been talking doom and gloom (and rightly so) long before obama was a twinkle in the donkeys' eyes. His own listeners were complaining about his sour outlook.

[tomder55]

Obama compared the stock market to the daily tracking polls used during campaigns, saying that paying too close attention to Wall Street's "fits and starts" could lead to bad long-term policy. It's just 'day-to-day gyrations' he said . But if you want to compare it to a dance move then maybe the Limbo is more appropriate
How low can you go ?

Back in 2002 D*ck Gephardt said that for every 100 pts the market drops the Dems would gain 4 seats in the House. But how could that be ? The Dems would never use a crisis for political gain .

[George_1950]

...

On the other side of the coin, I see a light at the end of the tunnel. There's only 6700 points left for the DJIA to go down before it hits 0. After that, there's nowhere to go but up....

Elliot

But 0 is the DJIA on the moon; I hope he doesn't leave it like that!

[kp2171]

Financial trouble and middle east crisis.

A new morning in america for the gipper?

I'm a (R) by the way... even if I talk trash about both sides. They both irritate me these days beyond belief.

Obama is neither the miracle child the dems think he would be starting day one, nor is he the cause of the unstableness, that's been brewing for years.

[George_1950]

Socialism is a considerable source of instability to capitalism, whether of the Democrat or Repbulican version. As someone has pointed out, Obama is a socialist on steroids.

[tomder55]

Still the administration could be in early meltdown.

Consider that President Bush handed the keys to the Treasury Dept to Obama well before Jan 20 . You would think that there would've been an urgency to staff the Dept. since it was so important to put Geithner at the top .

But now we find out that no one else has even been named to be his Deputies . Amazing!

Not one of his top 17 deputies has been named, let alone confirmed. And without senior leadership, lower-level Treasury employees can't make decisions or represent the government in crucial conversations with banks and others.
As Geithner strives to address the financial crisis, advance Obama's agenda and work with foreign leaders to stave off economic disaster, he's assembled a 50-person "shadow cabinet" of would-be appointees. Those people have received hall passes and can advise Geithner, but they lack any authority.
Understaffed Geithner can't keep up, critics say

[speechlesstx]

I've noticed, and Obama gyrates while Wall Street burns and Michelle's dress shines as they serve Wagyu Beef and Nantucket Scallops at the White House.

[George_1950]

Yes, there is a method to his madness. Is it impeachable?

[George_1950]

Check out Jim Rogers on Geithner, if you have a couple minutes: YouTube - Jim Rogers Says Geithner Caused Crisis, Must Let Banks Fail, Feb. 11, 2009

[tomder55]

Yeah but that was just one party . Word is that Wednesday is party day in the White House... the People's House.(still haven't received my invitation yet.. I love Nantuckett Scallops )

Obama kicks up White House entertaining

[excon]

I know that correlation is not causation. Nevertheless, the evidence is somewhat damning.

Hello Elliot:

Not to anybody who looks at the bigger picture..

The DOW has been plunging since late 2007 when the Bush depression started. It's simply continuing its decline.

Did President Obama say it's going to get worse before it gets better? He did, didn't he? Is it getting worse? It is, isn't it? Is the two week old stim making a difference yet?? You got to be kidding.

excon

[tomder55]

Found the full quote by the President about Wall Street (uncut unedited... obviously he left the teleprompter home that day)

"What I'm looking at is not the day-to-day gyrations of the stock market but the long-term, uhhhhh, ability for the United States and the entire world economy, uhhhhhhh, to regain its footing. Uhhhhhhh, and, y-y-you know, the stock market is sort of like a tracking poll in politics. It bobs up and down day to day, uhhhhh, and if you spend all your time worrying about that, you're probably going to get long-term strategy wrong. ... What you're now seeing is profit and -- and earning ratios are -- are starting to, to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it. Uhhhhhhhhhhhh, I think that consumer confidence, as they see the American, uhhhhhhhh, Recovery and Reinvestment Act taking root, uhhhhhhhhhh, businesses are starting to see opportunities for investment, uhhhhhhhhhhhhhhh, and potential hiring."

[George_1950]

Did Obama say to buy gold?

[450donn]

Now, now Koolaid sipper. The Dow has dropped 30% since Nobama took office. Sure is a lot of confidence in that. Before that how much was it down? Maybe 10% in a year and a half?

Remember who is to blame for all of this mess, CONGRESS. And y'all insist on giving them more money to squander!

[George_1950]

"The illusion that Barack Obama will lead from the economic center has quickly come to an end. Instead of combining the best policies of past Democratic presidents -- John Kennedy on taxes, Bill Clinton on welfare reform and a balanced budget, for instance -- President Obama is returning to Jimmy Carter's higher taxes and Mr. Clinton's draconian defense drawdown." Michael Boskin Says Barack Obama Is Moving Us Toward a European-Style Social Welfare State and Long-Run Economic Stagnation - WSJ.com

There is the new mantra, "Secretary of State Hillary Clinton told an audience Friday 'never waste a good crisis,' and highlighted the opportunity of rebuilding economies in a greener, less energy-intensive way." http://in.reuters.com/article/enviro...5251VN20090306

[speechlesstx]

yeah but that was just one party . Word is that Wednesday is party day in the White House...the People's House.(still haven't received my invitation yet ..I love Nantuckett Scallops )

Obama kicks up White House entertaining

I'd love some Nantucket scallops, but today is $.99/lb pork sirloin chop day. I'm not sure when the $26/lb scallop day might be unless you can sneak us in when you get your invite.

[tomder55]

Not to anybody who looks at the bigger picture..

Yesterday in Ohio the President pointed out the 25 jobs he saved in the Columbus police Dept. Columbus received $4 million in stimulus money. The city does not have the money for another graduating police class however .Maybe that will come with the next stimulus $trillion.

Since most of the projects won't kick in until well after there is a chance they will be effective ;the President will rely on ancedotal evidence like yesterday to demonstrate that these "small victories" compounded across the nation prove the stimulus plan is working .

The irony of all this is that because so many of the projects in the bucket list won't kick in for a couple of years ,the market may get a chance to correct itself . But if that happens (and that is no sure thing with all the gvt. Meddling );then it will give the President the ability to take credit for the turn around. It benefits him to council patience on the chance that the market corrects itself. He will claim to have invented the government led economic machine and model that saves the country.

That's the big picture .

[speechlesstx]

Yesterday in Ohio the President pointed out the 25 jobs he saved in the Columbus police Dept. Columbus received $4 million in stimulus money.

Yes, he "saved" them through December.

it will give the President the ability to take credit for the turn around. It benefits him to council patience on the chance that the market corrects itself. He will claim to have invented the government led economic machine and model that saves the country.

That's the big picture .

Yes, it's 1984 and doublethink is reality. Obama says that education, health care and energy are both the cause and cure to the economic crisis.

"It is the achievement of the Party to have produced a system of thought in which both conditions can exist simultaneously. And upon no other intellectual basis could the dominion of the Party be made permanent. If one is to rule, and to continue ruling, one must be able to dislocate the sense of reality. For the secret of rulership is to combine a belief in one's own infallibility with the power to learn from past mistakes." -1984