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Dec 6th, 2017
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Joined: Feb 2004
Posts: 6,523
old hand
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OP
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Joined: Feb 2004
Posts: 6,523 |
The fact remains that when the POTUS starts to talk up the econmomy, the markets improve.
March 17 at 3:47 PM - Keep up the optimism Mr. President
7,323.70 +106.73 +1.48%
A proud member of the Vast Right-wing Conspiracy, Massachusetts Chapter
“The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.”
Thomas Jefferson
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Joined: Sep 2001
Posts: 6,723
old hand
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old hand
Joined: Sep 2001
Posts: 6,723 |
The fact remains that when the POTUS starts to talk up the econmomy, the markets improve.
March 17 at 3:47 PM - Keep up the optimism Mr. President
7,323.70 +106.73 +1.48% 
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Joined: Feb 2004
Posts: 6,523
old hand
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OP
old hand
Joined: Feb 2004
Posts: 6,523 |
The fact remains that when the POTUS starts to talk up the econmomy, the markets improve.
March 17 at 3:47 PM - Keep up the optimism Mr. President
7,323.70 +106.73 +1.48% You know it is really hard for me to try and throw a compliment at the President without laughing at the idea first. Here I try to give him some crdit and I get shot down?
A proud member of the Vast Right-wing Conspiracy, Massachusetts Chapter
“The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants.”
Thomas Jefferson
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Joined: Dec 2005
Posts: 12,010
Pooh-Bah
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Pooh-Bah
Joined: Dec 2005
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The fact remains that when the POTUS starts to talk up the econmomy, the markets improve. I am not saying there is no effect.... but just because two things coincide does not prove causation. If that were all there were to it, I am sure Bush would have tried to end his term on a historically high market.
"It's not a lie if you believe it." -- George Costanza
The whole problem with the world is that fools and fanatics are always so certain of themselves. --Bertrand Russel
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Joined: Sep 2001
Posts: 6,723
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Joined: Sep 2001
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For me to "accept" your "compliment" of the President would require that I accept your absurd position that the stock market's day to day fluctuations have anything to do with the day to day acts (or omissions) of the President. As others have already commented, I will not blame any decline in the DJIA on the President nor will I give him any credit for any advances in the DJIA until such time has passed which would establish a realistic trendline. Even then, I'll wait until the economy, as distinguished from the DJIA, shows either an upward or downward trend before assigning blame or giving praise.
Last edited by Chuck Howard; 03/17/09 08:57 PM.
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Joined: Nov 2006
Posts: 19,831 Likes: 180
Carpal Tunnel
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Carpal Tunnel
Joined: Nov 2006
Posts: 19,831 Likes: 180 |
Ma, we who actually support the President, appreciate your effort. The DJIA is as skittish as a colt and probably his actions have helped soothe it's worries for the moment. We all know though that as soon as it gets spooked it's gonna run up the hill or down, which ever makes it feel safest. The bright side is that the stock market is a daily indicator to some folks and if it's increasing confidence in the president then it isn't a bad thing. Confidence is one of the factors missing from the economy right now. Banks are scared to lend, businesses scared to borrow, consumers scared to buy. It's a logjam and a little bit of confidence can help to break it up and get the money flowing again.
Good coffee, good weed, and time on my hands...
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Joined: Sep 2011
Posts: 18,003 Likes: 191
Moderator Carpal Tunnel
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Moderator Carpal Tunnel
Joined: Sep 2011
Posts: 18,003 Likes: 191 |
I'm endorsing your last post, Greger, with a specific reference. I'm going to cross-post this quote only because it is relevant to this thread: : In Japan, there's a clear recognition of the economic link between feeling safe and feeling confident. In a March 7 interview with TIME in Tokyo, Ichiro Ozawa, the leader of the opposition Democratic Party of Japan and the front runner to be Japan's next Prime Minister (if he can avoid the fallout from a scandal over political fundraising), said "giving a sense of security to the population" was key to economic recovery. Ozawa argues that only if families feel that their basic needs have been taken care of — needs like health care and provision for retirement — will they go out and spend money on new cars and clothes. There's a lesson for the U.S. there too. Health-care reform in the States isn't just an egalitarian goal; it's also a way of providing confidence so that families feel able to go out and enjoy themselves again. - TIME
A well reasoned argument is like a diamond: impervious to corruption and crystal clear - and infinitely rarer.
Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich
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Joined: Sep 2011
Posts: 18,003 Likes: 191
Moderator Carpal Tunnel
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Moderator Carpal Tunnel
Joined: Sep 2011
Posts: 18,003 Likes: 191 |
But Chuck, that wasn't the President's fault, it was those danged Congresspeople who want to increase taxes (on AIG employees who are slurping at the public trough)! 
A well reasoned argument is like a diamond: impervious to corruption and crystal clear - and infinitely rarer.
Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich
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Joined: Jun 2004
Posts: 15,646
Carpal Tunnel
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Carpal Tunnel
Joined: Jun 2004
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I was thoroughly amused to hear on NPR just a few minutes ago an audio clip of one or more Republican Congressmen complaining that the Obama stimulus "just isn't working" and that we need to hurry up and return to the Bush strategy of unbridled "growth" before it is too late.  It reminded me immediately of this discussion. This advice from Tom Hepner, vice president and investment advisor at Ruggie Wealth Management made so much sense to me: "I think it's a classic bear market rally and we're near the top of it. That having been said, we are in a bottoming-out process."
Stocks are likely to remain rangebound for the rest of the first half, he said, particularly as investors sort through the first-quarter earnings reports, which begin landing in April. In the second half, stocks could then start a slow climb higher through year-end, he said, "assuming that investors get confidence-building information about the economy." Of course the Repugnicans are playing the doomsayer game to the hilt because (as their leader so proudly admitted) they want Obama to fail. And the best way to ensure failure is to convince people it's inevitable - or that it's already happened.
Steve Give us the wisdom to teach our children to love,
to respect and be kind to one another,
so that we may grow with peace in mind.
(Native American prayer)
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