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Getbig Main Boards => Politics and Political Issues Board => Topic started by: 240 is Back on July 31, 2009, 03:56:45 PM
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For the month of July, the Dow gained around 8.8%, according to early tallies, seeing its best July since 1989, when it gained 9%. The S&P 500 is up 7.5% this month, seeing its best July performance since 1988, when it gained 8.8%
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It really sounds like Obama is doing a terrible job. ;D
What do his critics say now?
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It really sounds like Obama is doing a terrible job. ;D
What do his critics say now?
lol
This game is getting lame.
::)
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It really sounds like Obama is doing a terrible job. ;D
What do his critics say now?
Let me refer you to the other naive and clueless thread about this very same topic.
http://www.getbig.com/boards/index.php?topic=292060.0 (http://www.getbig.com/boards/index.php?topic=292060.0)
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Dow July 31st 2008 11378
Dow Jult 31 2009 9171
(http://chart.bigcharts.com/custom/cnnmoney2/interact-chart-pop.img?ClientID=44711&symb=djia&sid=1643&pg=ch&time=4yr&freq=1dy&maval=60&lf=1&type=2&mocktick=1&symbtype=0&country=US&rtsid=1000001643&style=2108&size=3)
Cheer hard for Obama. 240.
But nothing he has done so far has helped the economy.
Even the Fed Credits the Economic policies under Bush for turning this stuff around.
Now imagine what would have happened if the congress didn't pass an energy bill that caused oil to spike at 150 dollars.
As GianatorX says see previous thread.
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For the month of July, the Dow gained around 8.8%
Yeah. After it unnecessarily crashed 22% in February.
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Yeah. After it unnecessarily crashed 22% in February.
Unnecessarily? It crashed because the economy was and is still a wreck. That might have been a bit oversold on fear of the future but it was def. based on the fundamentals at the time. Just like, in my opinion, the rise to 9000 is not based on market fundamentals.
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if the dow had its worst july in 20 years, obama would be to blame.
heck, i bet posts here, had people blaming obama for feb, march, april DOW slides.
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if the dow had its worst july in 20 years, obama would be to blame.
heck, i bet posts here, had people blaming obama for feb, march, april DOW slides.
Guess you decided to ignore my post in the other thread, it is the fault of the government, all of them. They have manipulted what can and can't be done in the finacial market by passing or repealing laws/acts to fit what ever agenda the corrent POTUS has. Now not to say that the private sector has no blame, there is a reason why the government has to regulate certain things.
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if the dow had its worst july in 20 years, obama would be to blame.
heck, i bet posts here, had people blaming obama for feb, march, april DOW slides.
So it is only a reflection on Obama if the dow goes up? C'mon 240 you certainly aren't this f'n dumb....
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So it is only a reflection on Obama if the dow goes up? C'mon 240 you certainly aren't this f'n dumb....
his policies certainly influence it.
He has injected hundreds of billions of $ to the states. The gov's have used it to create a lot of new jobs. That has to have helped some.
I'm not arguing the long-term dangers of huge debt - that is obvious.
I'm referring to the DOW being up as a result of a lot of new jobs being added
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his policies certainly influence it.
He has injected hundreds of billions of $ to the states. The gov's have used it to create a lot of new jobs. That has to have helped some.
I'm not arguing the long-term dangers of huge debt - that is obvious.
I'm referring to the DOW being up as a result of a lot of new jobs being added
240 as I posted earlier in another thread very little of the stimulus money have been spent. There are no jobs propelling the Dow.
Also most of the money spent right now is to replace state tax dollars that have been cut. Very few if any new jobs have been created.
The Fed credited the TARP program under Bush for saving the banks and averting a huge disaster.
This is all in the other thread.
A short economics lesson, but the DOW is not actually gain value when you compare it to your currency deficit.
As the American Dollar drops, American markets become cheaper and more outside investors and major offshore investing firms move in.
You stated the Dow went up 8.8% this month.
Did you know your dollar dropped against the Canadian Dollar by 7%.
In short Canada and its banks are helping to prop up the Dow.
http://ichart.finance.yahoo.com/z?s=CADUSD=X&t=3m&q=l&l=on&z=m&c=yen,%5EDJI&a=v&p=s
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Also most of the money spent right now is to replace state tax dollars that have been cut. Very few if any new jobs have been created.
Does anyone have link to actual # of jobs created by the stimlus bill?
I'm hearing 150k. I'm hearing 'hard to track'. I'm hearing "we wont know until fall". Which is it?
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Does anyone have link to actual # of jobs created by the stimlus bill?
I'm hearing 150k. I'm hearing 'hard to track'. I'm hearing "we wont know until fall". Which is it?
The admin isn't saying created.
It is saying saved or created.
It is impossible to know how many jobs its saved since so many job losses have been announced.
It is a huge shell game.
Lots of economists are pissed about this.
http://online.wsj.com/article/SB124451592762396883.html
Mr. Fratto sees a double standard at play. "We would never have used a formula like 'save or create,'" he tells me. "To begin with, the number is pure fiction -- the administration has no way to measure how many jobs are actually being 'saved.' And if we had tried to use something this flimsy, the press would never have let us get away with it."
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But nothing he has done so far has helped the economy.
Even the Fed Credits the Economic policies under Bush for turning this stuff around.
positively hilarious! ;D
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positively hilarious! ;D
Its true, too bad you leftist can't understand that securing the banks was the most important part of recovery.
All of this was done under Bush.
As I have stated numerous times.
Obama has little to do with any of this.
If you want to credit someone. Look at Bernanke.
The Fed and the TARP program kept the US economy going.
They seem to be indicated it was Bush and the Democratic congress that caused the turn around.
Not the 2009 Stimulus program.
http://www.federalreserve.gov/newsevents/testimony/DBBB5C9F26B6440AA4A21E104A61577A.htm
Economic and Financial Developments in the First Half of 2009
Aggressive policy actions taken around the world last fall may well have averted the collapse of the global financial system, an event that would have had extremely adverse and protracted consequences for the world economy. Even so, the financial shocks that hit the global economy in September and October were the worst since the 1930s, and they helped push the global economy into the deepest recession since World War II. The U.S. economy contracted sharply in the fourth quarter of last year and the first quarter of this year. More recently, the pace of decline appears to have slowed significantly, and final demand and production have shown tentative signs of stabilization. The labor market, however, has continued to weaken. Consumer price inflation, which fell to low levels late last year, remained subdued in the first six months of 2009.
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Its true, too bad you leftist can't understand that securing the banks was the most important part of recovery.
All of this was done under Bush.
::)
US GDP contraction slows to 1%
By Sarah O’Connor in Washington and Alan Rappeport in New York
Published: July 31 2009 13:51 | Last updated: July 31 2009 22:20
The US economy continued to shrink in the second quarter, but the pace of contraction slowed as aggressive government spending started to loosen the grip of the longest recession on record.
US gross domestic product declined by an annualised rate of 1 per cent in the second quarter after plunging by a revised 6.4 per cent during the first three months of the year, according to official figures released on Friday.
While the contraction was much smaller than in the previous three quarters and slightly better than economists had expected, the data showed that the government stimulus and a slowdown in imports had cushioned the drop.
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::)
US GDP contraction slows to 1%
By Sarah O’Connor in Washington and Alan Rappeport in New York
Published: July 31 2009 13:51 | Last updated: July 31 2009 22:20
The US economy continued to shrink in the second quarter, but the pace of contraction slowed as aggressive government spending started to loosen the grip of the longest recession on record.
US gross domestic product declined by an annualised rate of 1 per cent in the second quarter after plunging by a revised 6.4 per cent during the first three months of the year, according to official figures released on Friday.
While the contraction was much smaller than in the previous three quarters and slightly better than economists had expected, the data showed that the government stimulus and a slowdown in imports had cushioned the drop.
You do realize almost no stimulus money has been spent.
And of the money spent so far most went to other levels of government.
http://www.recovery.gov/?q=content/investments-agency
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::)
US GDP contraction slows to 1%
Keep believing that.
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his policies certainly influence it.
He has injected hundreds of billions of $ to the states. The gov's have used it to create a lot of new jobs. That has to have helped some.
I'm not arguing the long-term dangers of huge debt - that is obvious.
I'm referring to the DOW being up as a result of a lot of new jobs being added
This is a lie.The stimulous has put 70 billion into the economy.Now,if 70 billion "saved it" why waste the other 90%?
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Does anyone have link to actual # of jobs created by the stimlus bill?
I'm hearing 150k. I'm hearing 'hard to track'. I'm hearing "we wont know until fall". Which is it?
There is no such a statistic as "jobs saved".No one knows where this claim comes from.It was made up out of thin air by Obama.The reason you cant find it is because it doesnt exist.
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There is no such a statistic as "jobs saved".No one knows where this claim comes from.It was made up out of thin air by Obama.The reason you cant find it is because it doesnt exist.
As it has been said, if an actual economist wrote a scholarly paper, or wrote in a journal or taught in class about "jobs saved" or whatever....he would be discredited and laughed out of his profession.
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Keep believing that.
You're hilarious. Where do you get your special "secret economic info," junior? ::)
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You're hilarious. Where do you get your special "secret economic info," junior? ::)
A "slowing contraction" is more spin. It happens all the time and in every administration. It has yet to be revised downward just like all the other economic indicators have been. And yes, just about every single one of them, especially U.E., jobless claims, and GDP. It has been going on since 2007. In a bit of time this 1% will be "Revised" downward and on and on.
Have you been paying attention to the numbers?
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A "slowing contraction" is more spin. It happens all the time and in every administration. It has yet to be revised downward just like all the other economic indicators have been. And yes, just about every single one of them, especially U.E., jobless claims, and GDP. It has been going on since 2007. In a bit of time this 1% will be "Revised" downward and on and on.
Have you been paying attention to the numbers?
A slowing contraction isn't "spin." It is part of the data necessary to determine the near term course of the American economy. You are as hilarious as your boyfriend BD. Of course GDP figures are revised over time. That knowledge does not allow you to see into the future and become aware of the direction of the revision. BD is a one of getbig's fake economic experts. A mere child playing with google and looking for "facts" to support his feelings of depression regarding anything related to Obama and the economy. Six months ago the Dow was headed for 4000 and the world was coming to an end. America was rapidly on the way to being a third world nation and the dollar was going to lose its preeminence as a major currency. ::)
I make my living in part by "paying attention" to this and other economic indicators to a far greater extent than is necessary for you.
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BD is a one of getbig's fake economic experts.
You're the other.
;D
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http://www.getbig.com/boards/index.php?topic=292704.0