It's not what he say's, it's the moves that he and Pelosi have made, they are not helping the recovery, they are hurting it. I don't blame Obama for the depression we are in. I do blame him for pushing a socialist agenda at a time when we can least afford it.

He said NO earmarks. He's a lier

Total estimated earnings for 2009 for every worker in US $8 trillion

Estimated Fed budget 3.6 Trillion or 45% of TOTAL EARNINGS no wonder the Porkulus isn't working.......... Once we pay State and Local taxes there won't be enough left to buy groceries.....

I mentioned this in another post. The Market's daily movement is a horrible gauge when judging anything. Daily moves are so emotionally driven, it's pathetic. Things like GDP, Consumer Spending and the such are better markers, just that we don't get to the second updates on those everyday.

People are making tons of money on the market right now. The issue is that conventional wisdom of buy and hold is not beneficial at the moment. People are shorting stocks and buy/selling in the same day or within 2 days. I think the Market is horribly undervalued. GE under $10, Intel under $15, J&J under $50.

Like I said in my other post, I have a lot of time until retirement. The market is already undervalued and I hope people continue to be emotional about it and allow the market to dip below 6000. My accountant gave me a hard time for not investing in an IRA 2 years ago and I told her back then that there was no way in hell I was investing in that market. The warning signs of the current market have been available for some time now, people losing their shirts just weren't paying attention or researching the right areas.

If you're talking about the budget, good luck getting Congress to pass anything without earmarks. Both sides of the aisle refuse to pass anything unless they get something out of it. Obama has pleaded with Congress to minimize the earmarks.

Then you get comments like this: "House Majority Leader Steny Hoyer declared Tuesday that Congress, not President Obama, will decide whether to put more limits on earmarks in upcoming spending bills." -CNN

Well then, now will be the time to use the promised line item veto.

Most peoples savings are tied up in the stock market, retirement is one thing but remember that states and feds hopped on the 529 bandwagon and a lot of kids education money is tied up in the market. Also, many companies budget to the stock market as a benchmark. Stock NAVs drive a lot of revenue for investment products for advisors and investment managers (not the evil people) as a result of market declines, many firms will need to further cut employees in order to meet their budgets. There are many. many. many mutual fund companies that employee hundreds of thousands of people in customre service, IT and other areas. Stock prices also drive the net worth of a company and gives them the equity to borrow. Dont underestimate the impact of the stock market. For many, it is the primary source of savings.

A couple of things: Since the federal budget year starts on 10/ 1, the "current" budget is in fact from the last congress. It's interesting to note that many on both sides of the aisle are calling for the admin. to not sign this budget because of earmarks. The problem is that if the budget is rejected and it goes back to congress the fed. government will not have funds available to keep the govenment running unless there is a tempory funding measure passed. While some may say it's a good thing ...realistically it is not. Line item veto seems like a solution but congress still has to be on board.
Secondly, while everyone is wondering why the stimulus pkg. is having no effect, the $$ in fact is just becoming available. In the housing industry, we're just seeing the "grearing up" for mortgage foreclosure relief, etc. There was a good program on the evening news about construction industry hires in anticipation of the release of infrastructure work, etc. While I'm not a big fan of bailouts to mismanaged companies, I do think the stimulus bill will have a positive impact once "shovel ready" projects start .

Sw - we're wondering why the "promise" of the stimulus bill is not impacting the stock market in a positive way. For example, if a company has a press release that they may have a breakthrough new product, the stock usually goes up quickly. even though there is no product ready for market or no guarantee the product will sell. You would think that the stimulus plan would have a similar impact however I believe investors are viewing this as negative news.

And who was is in control of the Congress in 08? And who will sign the Bill?

RIJ - I tend to agree with folks that feel the market is not the best indicator due to the volatile nature but I am by no means an expert. A good piece on the tube the other day about how testoserone levels of test subjects rose sharply during market trading..I think the assumption was women make better long term decisions men no so good in long term planning.
Buck - I think the congressional mix was very close and the earmark's are not restricted to one party. I agree; don't sign the budget..go for a quick fix to keep the gov. in business and rework the 09 budget.

Your right sw, the earmarks where 40/60 split. Vote them all out next chance we get.

I was wrong, the stimulas bill has had an effect;
Last Sale 6470.67 Previous Close 6594.44
Change -123.77 Open 6595.16
Change % -1.88% 1-Week Range 7195.46 - 6544.10
Previous Close 6594.44 1-Month Range 8315.07 - 6544.10
Today's Range 6470.03 - 6755.17 52 Week Range 6544.10 - 13136.70
Last Trade Time 3:26 PM EST YTD Change -5992.53

http://online.wsj.com/article/SB123612515982323801.html

Brilliant Article. ;-)

I felt like he knew me.:mad:

He's honest too"There is much to dislike about President Obama's approach to the financial crisis"

I like a guy that can poke fun at himself. Probably a good thing to remember that despite political differences, if we were all thrown together... slamming a few bass... or slamming down a few brews all this political stuff would be behind us. Of course I did just make the final pmt. on my boat slip this AM...so I'm feeling a little conservative $$$!!!

This is the part that I like about this forum. I feel that every single person in here, regardless of what we've disagreed about, I could go out and have a couple beers with like none of the conversations took place.

This is the place for disagreements and petty bickering, but outside this forum I respect everyone as a fellow fisherman and peer.

There are a good number of reasons for the stock ups and downs. Things like bad jobs reports, GM's problems or the banking issues are not something Obama can fix with the swipe of a pen, and yet they're having a tremendous impact on Wall Street.

What's pretty funny is that under our last President, leader of the Republican party mind you, the stock market was also tanking.

Many expect the economy and job market to continue to sour, best case showing signs of recovery early next year.

And yet somehow people can attribute this negativity to Obama's radical idiology, not more than a few months after the general public elected him?

This simply doesn't compute.

So the Republicans (or their bots on this site) don't have any suggestions on how to fix things, previous Republican attempts to remedy also fell flat, so instead we'll post daily updated to the Dow Jones in an attempt to...what again?

It's about as mindless as the pacifist Iraq body count tickers online during the early phases of the War.

-spence

I think you nailed it Spence "Obama's radical idiology"

Sorry, I forgot my quotes :lasso:

-spence

Hey Buck?
 

Where's my daily dose of doom and gloom from the board economic pessamist?

Markets had a good week, Citi and BofA both talking about profitiability, GM declaring it doesn't need billions in government loans...

I would have thought you'd be all over this as cheerleader in chief of conservative positive spirit.

MARKETS WILL GROW!

-spence

spence your missing the point. I have posted exact quotes from the press that the market DID tank when Bush spoke, the point of this thread was that when Obama speaks or communicates policy, the market has reacted negatively. Every single time!
this week Obama and Geithnher KEPT THEIR MOUTHS SHUT and lo and behold, what happened? The markets have been up!!!!

BHO has been spreading the economy fear factor since starting in office.

A few days ago he was saying the international economy is in shambles
and we might have to help bail it out too.

Now that the market has gone up for a few days,
he says the economy is not as bad as he thought.

Makes you wonder. :huh:

Are the markets up due to the Stimulus? I've heard that the effect of the Stimulus would not begin to take effect till later this year, or later than that. Is the uptick, if it continues this early, a vindication of those who believe that the MARKETS WILL GROW without massive intervention?

He inherited the Bush rebound.

It's pretty hard to loose money when your given a few billion to play with.
Posted from my iPhone/Mobile device

Dead cat bounce. :huh:

Time will tell.

So I guess based on the original premise of this post, the market is now thrilled w/Obama's stimulas plan. :laugha:

Geithner spoke today and the market is up!

I'll post for buckman to save him time:

"Bush's initial bailout is finally paying off."

There, him a few clicks.

Was he giving his resignation speech?

no, BM is talking market reaction and Im sure he'll admit its a direct result of Geithner this time, although no liberals ever admited the corellation with the drops previously.

Market up nearly 500 points.

-spence

good to see, but it is only one facet of many forces.

the fundamentals of our economy are still broken. Jobs are still being exported overseas and housing prices are still faltering.

Agreed. Just like the days the market generally went up a little bit after a massive 300+ points down day, I'm willing to bet investors will be cashing in tomorrow or the next day and we'll have another 100+ point down day.

But, the market is impossible to predict; I'm just shooting from the hip and guessing.

Ther was some other good news today. Home sales up 5% largest increase in 6 years. Keep your fingers crossed. Maybe the distraction of the AIG bonuses worked.

There are some troubling aspects to be aware of. For one thing I've never trusted market moves that are obvious responses to specific news. And this advance, deserving as it probably was, was emphatically in direct response to something that has been in short supply lately--good news. Good news has a tendency to attract too high a proportion of suckers.
Secondly, a flashy advance of this kind goes hand-in-hand with dramatically increasing volume. Today, volume was actually down in the Dow's 497 point advance. It was down on the advances in the SP-500 and NYSE Index. It was down only a little for the Nasdaq Brothers, but it was down just the same.

Elevator to 7400 please

Or I could be 100% correct.

7,660.21 -115.65 / -1.49%

The rest of the downward trend will be tomorrow after the speech.

Elevator going down to 7400

This was a distinctly negative day. All eight Important Averages were down (averaging, as I said above, -2.52%). All 16 Breadth Groupings were Super-Decisively Negative.
Today's Dominant PV Relationship was PDVD (1897 stocks), which is the thematic relationship of falling markets. They are just being themselves.
On a five-day basis, the bullish PUVU relationship has been giving ground for the last seven days, but it remains Dominant over the other relationships so far. However, it is holding on by a thread, with the bearish PUVD relationship breathing down its neck on a five-day basis.

The stimulus isn't having any effect, but the $1.2 Million Mansfield is getting from it will save at least 20 teacher jobs.

My roommate who is a music teacher in Mansfield went from a guaranteed layoff to now a guaranteed job next year.

Too bad the government didn't take the Buckman approach and do nothing. Then we'd see the benefits of inaction - over-crowded classrooms, more "out of the school" classes which carry little educational value, significantly decreased after school programs. Those are all the consequences the Mansfield School admin has declared they would have to do if they lost all the teachers they were initially expecting to be without.

does he shoot golf? I think I hit him at wading river a few years ago