Markets Jump After Obama Gives a Qualified Thumbs Up
Reader Comments
China Stimulus
The market went up on the anticipation that the Chinese would possibly expand their internal Stimulus package. When they did not propose an additional 500 Billion (dollar equivalent) program, the markets sank.
Obama's statement had nothing to due with the one day rise.
A little out of touch!
Bonnie,
Your comments are a little out of touch with the reality of what his programs are doing to this country financially and will do in the future.
The Bureau of Labor Statistics own website shows that the unemployment level for the month of February is now at 8.9 percent. In January it was 8.5 percent. Those are the actual U3 numbers. If you look at the table of U6 numbers you will see that those that have fallen off the governments own tracking raises that total to over 16 percent.
Should we be worried? You can bet your ass we should! Barry Soetoro (aka Barack Obama) has stated himself that things are going to get worse. You need to come down from the "kool-aid" high you are on and face the facts.
Here is the link if you care to look yourself:
http://www.bls.gov/webapps/legacy/cpsatab12.htm
Obama on the markets
Obama is interested in exceeding expectations right now. He seems the kind of low key guy that never gets excited or flamboyant. Him saying something like the market is low is probably like most politicians jumping up and down and screaming buy. Obama strikes me as the type who would yahn and say that was nice if he hit a record megabucks jackpot.
Are We Puppets ?
The president is attempting to be honest with us, but we must also learn to think and reason for ourselves. The stock market should not dictate every day our mood, our faith in our government, nor our faith in ourselves. If we base our lives on the movement of the market, we will totally controlled by the speculators who manipulate it for their own gain.
As to those who glorify that special class of people who "create wealth", here is a news flash. Nearly any of us can create wealth if we find a need to fill and fill it better than the next guy. People who have been unable to compete with the big boys are now getting a chance to shine. It is healthy for us all if we will only recognize it. Hard work and a hopeful attitude, plus the willingness to help the next person stand up on their feet is what formed the America we used to know and love. It can be that way again. Buy stock when you can afford to gamble, but don't invest more than you can afford to lose.
Amatuer Hour in DC
Until Obama loses the notion that the people who create wealth will continue to create it even if he takes it away to give to his supporters the economy will never recover.Of course, if that happens we will be losing many of Obama's little helpers in Congress in 2010 and Obama himself two years later.
Scary...
In terms of the President being negative, I believe that at this point he could only express the attitude of the American people loosing their nest egg over bad investments. I don't think we've been using the term "Moral Hazard" enough these days. The government has invested Billions of Dollars in the Banks, Auto Companies, etc. and all they want is more. When does it end? A message to the banks, not the President: We know you have enough capital, it is time to lend money to each other and to the American people. The alternative would mean the destruction of the United States as we know it.
Everyone keeps placing blame on the President, I think we need to blame the people who got us into this mess in the first place, BANKERS!
SRD
While I am willing to give the new President a chance to do his job he has been the most negative President we have had in the past 60 years. The president should realize that the nation looks to him for leadership and what he says is very important.
He does not yet understand that the stock market is important to everyone including those individuals earning less than $250000.00. Where does he think pension money is invested. Not under the matress but in stocks and bonds. The decline in the market hurts all working Americans
