Market closes nearly 20% down since Obama's inaug

[Dr. Obvious 49]

Write to Obama on his website and tell him how to fix it.

+1

[tallcoolone 102]

Obama is starting out bad.

People are loosing confidence quickly in his "Hope and Changes" talk.

His on pace to take over Jimmy Carter as worst President in the last 50 years.

Google - "Japan the lost decade" and do some reading, they had the same problems we are having now and stimulus package has proved not to work in the past.

[almaty 19]

we just had the worst president....made carter lookd like fdr

[Mr. Big Dog 10,747]

Hey kaydee, want to chat about the economic legacy of your "best President ever"?

DJIA:

19-Jan-01 ........ 10,587.59

16-Jan-09 ........ 8,281.22

... down 21.8% over the term of Bush's presidency,

NASDAQ Composite:

19-Jan-01 ........ 2,770.38

16-Jan-09 ........ 1,529.33

... down 44.8% over the term of Bush's presidency.

S&P 500 Index:

19-Jan-01 ........ 1,342.54

20-Jan-09 ........ 804.47

... down 40.1% over the termj of Bush's presidency.

Now there's your testimony of the very quality of Republican economics. The people of this nation voted against this nonsense for a reason, you know.

[Trumplestiltskin 5,791]

There's a bit of spurious wish fulfilment going on here - people like Kaydee want Obama to fail, something that I don't think he's ever denied - so any and every article to that effect must be posted in order to hammer home the message.

Quite honestly I'm not sure how we can measure "perfomance" of the President against a stock market that's be yoyoing like crazy for the last few months - it hardly seems like a particularly reliable indicator of success, given the nature of the current economic problems, especially barely 2 months into the new administration.

Much criticism can and has been made of the Obama administration's stimulus package - which is certainly reasonable, though given that we're in uncharted waters its obviously very difficult to draw up a definitive plan of action.

I have to wonder at Kaydee's reasoning - if he honestly thinks that a recession of this unprecedented nature is something that can be resolved overnight, or whether - as people have been saying for many months now - that things are likely to get a whole lot worse before they get better.

Seems like common sense really.

[NickD 202]

These are words from an expert on the stock market, certainly not me, and take them for what they are worth.

The status of the Dow-Jones or any other index is Not a sign of the condition of the economy, but is the product of the supply and demand status of the stock, today, we have a surplus of stock so the value is low. Providing this country does not go to hell, for long term investors this is the time to buy.

To make money in the stock market, regardless of what the averages are, the secret is always to buy low and sell at a higher price. People that are selling now are stupid because they broke the buy low and sell high rule, but bought high and are selling low taking a permanent loss in their investment. And apparently, people are getting into this stupid line and selling that is further increasing this surplus.

As I said before many times, we live in a country loaded with stupid people.

If I would have jumped, would have experience an $8,000 loss, but by waiting, would only experience a $5,000.00 loss today, just plan on sitting tight provided this country does not go to hell. But if it does go to hell, won't make any difference where your money is at, it will all be worthless.

Now the banks are different, we have crooks, they should be investigated and tossed into jail, after paying back the money they stole. That is a different problem.

[Mikkel 0]

What's with the closed-minded trench warfare in here? The guy hasn't been in office for a month. He inherited an economy going down the shitter, and not only do some of you say that using that as an "excuse" is getting old (After one month? Seriously?), but you also say that the "markets" are reacting negatively due to Obama? What the hell?

Futures aren't negative because there's a new president in the US. Futures are negative because markets everywhere are in recession, and as some of you evidently don't realise, the futures market is based on the performance and outlook of the traded stock. The performance, in this case, is based off of earnings reports from business done with Bush in office, and the outlook is based off of the expected market conditions, which are bad ALL OVER THE WORLD, not just in the US.

Obama took office a month ago. Obama taking office did not suddenly make sales decline globally, banks fail, credit unions falter, or assets depreciate. What kind of idiot would even think that an American president could cause more than a ripple in the ocean of global finance over the span of a month? It's absurd, uninformed, and downright stupid.

[Trumplestiltskin 5,791]

It's absurd, uninformed, and downright stupid.

Yup, that pretty much sums up the OP

Edited February 24, 2009 by Paul Daniels

[I AM NOT THAT GUY 5,715]

Hey kaydee, want to chat about the economic legacy of your "best President ever"?

DJIA:

19-Jan-01 ........ 10,587.59

16-Jan-09 ........ 8,281.22

... down 21.8% over the term of Bush's presidency,

NASDAQ Composite:

19-Jan-01 ........ 2,770.38

16-Jan-09 ........ 1,529.33

... down 44.8% over the term of Bush's presidency.

S&P 500 Index:

19-Jan-01 ........ 1,342.54

20-Jan-09 ........ 804.47

... down 40.1% over the termj of Bush's presidency.

Now there's your testimony of the very quality of Republican economics. The people of this nation voted against this nonsense for a reason, you know.

The market is forward looking, so back those dates up about three months, to the first Tuesday in November, and see what you get. The market has been reacting to Obama since election day.

Edited February 24, 2009 by Mister_Bill

[SMOKE 1,426]

bill, this is VJ. truth & facts don't matter.

Obama Obama Obama.

[HAL 9000 96]

There's a bit of spurious wish fulfilment going on here - people like Kaydee want Obama to fail, something that I don't think he's ever denied - so any and every article to that effect must be posted in order to hammer home the message.

Quite honestly I'm not sure how we can measure "perfomance" of the President against a stock market that's be yoyoing like crazy for the last few months - it hardly seems like a particularly reliable indicator of success, given the nature of the current economic problems, especially barely 2 months into the new administration.

Much criticism can and has been made of the Obama administration's stimulus package - which is certainly reasonable, though given that we're in uncharted waters its obviously very difficult to draw up a definitive plan of action.

I have to wonder at Kaydee's reasoning - if he honestly thinks that a recession of this unprecedented nature is something that can be resolved overnight, or whether - as people have been saying for many months now - that things are likely to get a whole lot worse before they get better.

Seems like common sense really.

People like Kaydee are pictured here.

And what are stocks doing today?

[Mikkel 0]

Hey kaydee, want to chat about the economic legacy of your "best President ever"?

DJIA:

19-Jan-01 ........ 10,587.59

16-Jan-09 ........ 8,281.22

... down 21.8% over the term of Bush's presidency,

NASDAQ Composite:

19-Jan-01 ........ 2,770.38

16-Jan-09 ........ 1,529.33

... down 44.8% over the term of Bush's presidency.

S&P 500 Index:

19-Jan-01 ........ 1,342.54

20-Jan-09 ........ 804.47

... down 40.1% over the termj of Bush's presidency.

Now there's your testimony of the very quality of Republican economics. The people of this nation voted against this nonsense for a reason, you know.

The market is forward looking, so back those dates up about three months, to the first Tuesday in November, and see what you get. The market has been reacting to Obama since election day.

The market looks forward based on the past. The continued nosedive is related to a number of very large companies posting abysmal Q4 earnings, including some of the biggest corporate losses ever registered. But, of course, this is VisaJourney, and truth and facts do not matter. It's all Obama's fault.

Edited February 24, 2009 by Mikkel

[spookyturtle 9,465]

Obama is starting out bad.

People are loosing confidence quickly in his "Hope and Changes" talk.

His on pace to take over Jimmy Carter as worst President in the last 50 years.

Google - "Japan the lost decade" and do some reading, they had the same problems we are having now and stimulus package has proved not to work in the past.

Ignorant post.

[spookyturtle 9,465]

There's a bit of spurious wish fulfilment going on here - people like Kaydee want Obama to fail, something that I don't think he's ever denied - so any and every article to that effect must be posted in order to hammer home the message.

Anyone who is in the US and wants the President to fail is a traitor to the country. Perhaps they would be better off living elsewhere?

[Trumplestiltskin 5,791]

There's a bit of spurious wish fulfilment going on here - people like Kaydee want Obama to fail, something that I don't think he's ever denied - so any and every article to that effect must be posted in order to hammer home the message.

Anyone who is in the US and wants the President to fail is a traitor to the country. Perhaps they would be better off living elsewhere?

Hmmm... Are you asking me or telling me?

Kaydee is a one trick pony - same stale old talk radio soundbites and party political talking points he's been parroting for the last few years. Nothing approaching his own opinion. People like him should be ignored or laughed out of town.