Dow Jones decline rate mimics Great Depression

[buckman]

Originally Posted by spence

So have most if not nearly all conservative voices.

If there was an easy solution they would have offered it up and won the election.

So Obama inherits two wars, the worst economy in perhaps 70 years, the chance of Peak Oil for a carbon based economy and a looming medical entitlement that's a steeper hockey stick than even best case Global Warming data...

And he's a failure because it's not all fixed a few weeks into office?

And this is from the same people who stood behind Bush after years of proven mistakes, cronyism and general incompetence.

By what standards are you measuring your leadership?

-spene

No, he's a failure for effin everything up worse in a few weeks. Please stop giving him excuses for failing.

[RIROCKHOUND]

Originally Posted by buckman

No, he's a failure for effin everything up worse in a few weeks. Please stop giving him excuses for failing.

I'd like to give it more than 6 weeks to see what happens.
Revisit this thread in August, after 6 full Months. If the economy has not shown any sign of improvement, then I'll start to believe you.

I voted for change, but had no illusions that the positive change would be before March 2nd... we were on a downward slide for more than 5 months, (I know the date b/c we pulled money out of the Market in Oct when the Dow went hit 9,500, in hindsight a smart decision, I wish we had done it at 10500, oh well). To start implying that everything needs to be rosy NOW is asinine...

The 1929 crash took 3 years to bottom out and the return to 1929 levels was 25 years! I know different economy, different times, but the timeline was not weeks or even months.

[fishbones]

Originally Posted by RIROCKHOUND

I'd like to give it more than 6 weeks to see what happens.
Revisit this thread in August, after 6 full Months. If the economy has not shown any sign of improvement, then I'll start to believe you.

I voted for change, but had no illusions that the positive change would be before March 2nd... we were on a downward slide for more than 5 months, (I know the date b/c we pulled money out of the Market in Oct when the Dow went hit 9,500, in hindsight a smart decision, I wish we had done it at 10500, oh well). To start implying that everything needs to be rosy NOW is asinine...

The 1929 crash took 3 years to bottom out and the return to 1929 levels was 25 years! I know different economy, different times, but the timeline was not weeks or even months.

RIRockhound, I'm willing to give it more than 6 weeks because I know in a best case scenario it will take much longer than that to even see signs of improvement. But, I think a lot of people who voted for Obama are going to start turning on him soon. He had many people believing that as long as he was elected, there would be instant improvement, and things have actually gotten worse.

A big difference between the 1929 crash and now is that we're in a global economy now. Our economy impacts other countries and vice versa much more than in 1929. Back then, we didn't export jobs and import products the way we do now. I know it's been beat to death, but we need to give businesses incentive to manufacture goods in this country.

As for bailing out companies, we can't let them keep throwing good money after bad like they're doing with AIG. There has to be a tipping point where some companies are allowed to fail.

[JohnnyD]

Originally Posted by fishbones

A big difference between the 1929 crash and now is that we're in a global economy now.

Another big difference is the way in which the Stock Market is used. In 1929, it took days to buy/sell stocks. Today, it takes seconds. And unfortunately, people use the market as a measure of how the economy is doing - when it's really way, way more than that.