05 November 2008

So...

Is America fixed yet?

22 comments:

Mary Sue said...

*checks*

No, and it won't be for about 76 days.

Anonymous said...

It will be as soon as Obama loses the war.

Bastiat's Ghost said...

Nope and things will get much worse economically. Obama is an adherent to a school of thought that eceonomically never anywhere ever produce anyhting but grinding poverty.

Peter said...

It is Obama's first day of being President-Elect, and the DOW has already fallen 500 points. I say things have deteriorated since Obama has been elected.

Nina said...

It's certainly getting better.

Shmoo said...

I haven't noticed anything different... but I did get some change for my 2 dollars when I got coffee this morning.

Mindseye said...

Talk about expectations!

That question reminds of kids asking every ten minutes 'if we're there yet?' on the road.

Anonymous said...

"hope"
"change"
"we are the ones"
"rightous wind at our back"

He has raised a lot of expectations and made a lot of promises. He probably owes a lot of favors to neferious donors. He can no longer just say "present". We will see what he is made of. I never bought into the hype and I don't think he is made of very much, but for the sake of our country I hope that I am surprised

Catron said...

Yesterday's 486 point plunge in the DJIA suggests not.

the equalizer said...

seriously! your blaming Obama for the fall in the market because he is President elect. Now I've heard everything. This problem was years in the making folks, both democrats AND republicans as well as Greenspan played a big role in this mess.

stop your whining and get a life.

marcia said...

From what I've read, there's been some reactionary downward movement of the DOW because of fear of upcoming corporate taxes and regulations. Imo, it'll resolve itself and the market will eventually stabilize.

shadowfax said...

Or it could be a continuation of the downward death spiral the market's been in for the last seven weeks (or fourteen months, depending on how you count).

docandchief said...

As my memory serves, I believe that the whining and finger pointing started last year within hours of the election conclusion. But when the wheel turns, it suddenly changes everyhting and we must "be patient", wait and see, etc. etc. And when the market fell anytime in the past 8 yrs, it was the direct fault of the president. Now when the stock market tanks immediately after Mr O's election, it is not at all related!!!! Oh please.....be honest enough with yourself to be consistant in your stance.

Catron said...

Or it could be a continuation of the downward death spiral the market's been in for the last seven weeks.

Lots of people believe that the likelihood of an Obama presidency started that seven-week death spiral. A good op-ed on that can be read here.

seriously! your [sic] blaming Obama for the fall in the market

Have no fear. I will be every bit as fair to Obama as you guys have been to Bush.

Peter said...

Day 2 of President-Elect Obama: DOW down a total of 1000 points.

marcia said...

"Now when the stock market tanks immediately after Mr O's election, it is not at all related!!!!"

Oh, c'mon. Where have you and your portfolio been for the past couple of months? The stock market's been tanking.

You don't think today's drop has anything to do with Cisco's warning about slumping demand for computer components, weak retail sales, or the highest unemployment rate in 25 years all being reported today?

Nope. Not due to the country's ongoing financial problems, but to Obama's election.

My prediction is this is going to be the worst holiday shopping season since the 1930s because of Obama.

If McCain had been elected, the economy would have turned around already! Republicans. Sheesh!

marcia said...

Catron: Investor's Business Daily? LOL. Here's a quote from an article about them:

Slate: The Big Money

"Politically, IBD's opinion page veers to the outer reaches of the right, making even the Journal's trademark business-friendly editorial line seem moderate. IBD flatly denies that climate change is real and is caused by human activity."

It's an entertaining article; you should read it.

Anonymous said...

Stocks react pretty quickly to what the buyers think will be conditions in six months or so. Those losses represent people selling off after BHO's election.

Draw the conclusion...

Catron said...

Investor's Business Daily? LOL

Marcia, I assume that your failure to address the substance of the article means that (a) you know it is true or (b) you are unable to follow the argument.

marcia said...

No, Catron, if you look at my first post on this page, I said I had read about there being some reaction due to fear of increased taxes and regulation, which is basically what the article said, except in much more reactionary, right-wing propagandist terms. That rules out (b).

The editorial also fails to take into account other problems, like lower-than-projected October retail sales (not Obama's fault), lower revised projection for holiday retail sales (not Obama's fault), 25-year-high unemployment statistics (not Obama's fault), projected lower demand for technology sales (not Obama's fault), continued difficulty accessing credit (not Obama's fault), etc. (not Obama's fault), all of which have been in the news over the past few days. Completely discounting the effects of this information flies in the face of logic. That rules out (a).

My LOL at your source had to do with its far-right-wing orientation, which makes its analysis about as broad, fair, critical and insightful as a FOX News broadcast. They're telling you what you want to hear, but not painting the entire picture. They would rather manipulate facts to support a bias than supply you with the fully faceted truth. Imo, you should feel offended that they would insult your intelligence that way.

Your multiple choice selection was not inclusive enough: (c) neither (a) nor (b).

Catron said...

fear of increased taxes and regulation which basically what the article said

Sorry, Marcia, this cartoon description makes it clear that (b) is indeed the correct explanation for your non-response. I guess you don't do nuance.

except in much more reactionary, right-wing propagandist terms.

The notion that Jack Kemp is a wacky reactionary may pass muster with the morons at Kos, but it's not convincing to grown-ups.

25-year-high unemployment statistics

Just a little reality check: average unemployment in the fabled 1990s was 5.8%, almost exactly what it has been so far this decade.

threejalapenos said...

You people saying the stocks plunged because of Obama are idiots. They plunged because America's biggest car makers are reporting huge losses. Unless Obama somehow cut into their sales....