I don't know if anyone else has noticed every time Oblama speaks the Dow Jones average falls. I've been watching this for a while and the trend has been down when he talks. For instance today he spoke twice. The first time he spoke the Dow was a minus 30. As he started speaking, it started falling and by the time he finished it was minus 75 points. It kept falling until he spoke again when it had fallen to minus 142. By the time the NY stock exchange closed it has fallen 250 points. It is now lower than anytime since October 2002. It appears that not a whole lot of people are believing what he has to say about fixing the problems. If he doesn't hurry up and say something believable the stock market will just keep falling. donrock PS: Do you Twitter? I just joined and would like to follow and get followers that are into the internet and real estate like I am. Please follow me at twitter.com/donrock1 and I will immediately follow you. Thanks!
It has nothing to do with Obama speaking(lol). If you can remember that the economy had been fallen before he got elected and will continue to do so for quite sometimes. Give it at least 3 1/2 years and see if he is doing a bad job, this time it is too early to judge him. Any new laws or regulations takes time to get implemented. Generally, the people that dint want him in office will talk nonsense of what he does or say. The opponent are gearing up for the next election and will do what it takes to make him look bad.
Since every speaking engagement the POTUS has had over the past 2 weeks his approval rating has started to climb again. Partly due to his confidence and reassuring tone. Partly due to the fact that he has pledged to America what he will do (transparency). And partly because unlike the past 8 years we now have a POTUS who actually seems like he knows what he's talking about. Now consider this.... this is a Democratic President. One who happens to have made it his mandate to change all of the crappy rules, regulations, laws, and policies that have allowed Wall Street to get FAT off of over the past 8 years. Of course they're not going to like 90% of what he has to say. I agree with you that more details about his plan (so we can all understand why he's so damn confident ) are "part" of what's needed here. But at the same time I completely understand that he needs to give himself some time to get things done behind the scenes before the nay-sayers can get a shot at it. Because though they'd never say it publicly, there are a LOT of conservatives who have a vested interest in seeing our economy fail over the next 4 years. Whether it be for their own political gain or their own monetary gain (Wall Street). He can't fight those forces while telegraphing his every move on national television.
I think it is time to put this economic downturn in perspective. Economies are NOT the goods and resources we need and want. They are avenues of distributing these goods. When capitalism breaks down, as it will inevitably do, there will be an interruption in this flow. That's not because anything has happened to the resources. It has to do with how those resources are allocated. And in a slow economy, they sit right where they were. From an environmental perspective, that is a good thing. Second of all, the stock market is a way for corporations to sell themselves to raise capital. It has become critical to a certain kind of business, but that is because the public corporation model has been so successful at attracting value. If Wall Street is down, all that means is that investors no longer believe in it. Fine. Let's have them invest in better arrangements. You don't like it? Stay out of Wall Street, like the smart money, or play bear and feed on the losses of others. Thirdly, this crash is based on credit, so in many ways what has really happened is that reality has hit the bubble. We all knew this was coming, and while many people will suffer inconvenience this year and next, they are experiencing some long-overdue lean times. I think the crisis is exaggerated. Not that it isn't serious-it is-but the hype makes it seems worse than it is. Honestly, I think they want it to crash and burn...that's the only way to make sweeping changes.