If you have to ask, it's probably ghosts.
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The market has been going down nearly every single day for a while now, no matter what goes on in DC on a given day. Obama is not the cause of it, the crash happened long before he was in power.
Quote from: Cheebs on February 17, 2009, 10:49:40 PMThe market has been going down nearly every single day for a while now, no matter what goes on in DC on a given day. Obama is not the cause of it, the crash happened long before he was in power.Let me take you back a few short weeks:http://www.cnbc.com/id/28557265/site/14081545
President-elect Barack Obama hasn't even moved into the White House yet. But Wall Street is already showering him with praise for injecting confidence into the battered psyche of investors and working quickly to hatch a plan meant to jolt the economy out of its worst funk in decades.A market that two weeks ago was desperate for political leadership and a clear strategy to repair the economy appears to have found it in Obama, who is fast emerging as a decisive economic commander in chief.Stocks soared last week after Obama moved aggressively to fill the power vacuum until he's sworn in and demonstrated his commitment to dig the USA out of its economic rut.The Dow has rallied 17% during its current five-session win streak — its best five-session run since 1932. The rallies coincided with Obama-related news and public appearances where he introduced his economic dream team and sent a clear message that he'll do whatever it takes to repair the economy.
You didn't watch CNN at ALL during the election I take it. Cafferty is a big govt. type of guy. Like I said just last week he claimed the Obama stimulus package didn't have enough govt. spending to fix the economy.
Quote from: siamesedreamer on February 17, 2009, 10:57:07 PMQuote from: Cheebs on February 17, 2009, 10:49:40 PMThe market has been going down nearly every single day for a while now, no matter what goes on in DC on a given day. Obama is not the cause of it, the crash happened long before he was in power.Let me take you back a few short weeks:http://www.cnbc.com/id/28557265/site/14081545 nice Where is that Obama Jpeg with the jobs lost count when you need it. I'll do you one better .. they were attributing stock market gains to Obama even BEFORE he was in office.QuotePresident-elect Barack Obama hasn't even moved into the White House yet. But Wall Street is already showering him with praise for injecting confidence into the battered psyche of investors and working quickly to hatch a plan meant to jolt the economy out of its worst funk in decades.A market that two weeks ago was desperate for political leadership and a clear strategy to repair the economy appears to have found it in Obama, who is fast emerging as a decisive economic commander in chief.Stocks soared last week after Obama moved aggressively to fill the power vacuum until he's sworn in and demonstrated his commitment to dig the USA out of its economic rut.The Dow has rallied 17% during its current five-session win streak — its best five-session run since 1932. The rallies coincided with Obama-related news and public appearances where he introduced his economic dream team and sent a clear message that he'll do whatever it takes to repair the economy.http://www.usatoday.com/money/markets/2008-11-30-obama-stock-market-economy_N.htm
Quote from: siamesedreamer on February 17, 2009, 10:57:07 PMQuote from: Cheebs on February 17, 2009, 10:49:40 PMThe market has been going down nearly every single day for a while now, no matter what goes on in DC on a given day. Obama is not the cause of it, the crash happened long before he was in power.Let me take you back a few short weeks:http://www.cnbc.com/id/28557265/site/14081545I'll do you one better .. they were attributing stock market gains to Obama even BEFORE he was in office.QuotePresident-elect Barack Obama hasn't even moved into the White House yet. But Wall Street is already showering him with praise for injecting confidence into the battered psyche of investors and working quickly to hatch a plan meant to jolt the economy out of its worst funk in decades.A market that two weeks ago was desperate for political leadership and a clear strategy to repair the economy appears to have found it in Obama, who is fast emerging as a decisive economic commander in chief.Stocks soared last week after Obama moved aggressively to fill the power vacuum until he's sworn in and demonstrated his commitment to dig the USA out of its economic rut.The Dow has rallied 17% during its current five-session win streak — its best five-session run since 1932. The rallies coincided with Obama-related news and public appearances where he introduced his economic dream team and sent a clear message that he'll do whatever it takes to repair the economy.http://www.usatoday.com/money/markets/2008-11-30-obama-stock-market-economy_N.htm
The second part of the crime is the contents of the bill itself. Far from being only about jobs, infrastructure and tax cuts as promised, the stimulus bill stimulates a bunch of other stuff as well. Eight billion dollars for high-speed rail lines, including a proposed line between Las Vegas and Los Angeles.
Quote from: ToxicAdam on February 17, 2009, 10:03:31 PMMy brother is a big time buyer for Johnson Controls and they deal a lot with the auto industry. He tells me that the biggest problem during economic downturns are the old union contracts. These guys get paid 80-90% of their wages when they are laid off ... so it's actually CHEAPER to idle/close down the plants that are more efficient with younger workers (less labor cost per auto). It's an upside down world.Also, he said that the UAW forced GM into agreeing to only buy parts from union shops which have also caused the profit margins to shrink over the past 5 years.Unions: the diarrhea of america.
My brother is a big time buyer for Johnson Controls and they deal a lot with the auto industry. He tells me that the biggest problem during economic downturns are the old union contracts. These guys get paid 80-90% of their wages when they are laid off ... so it's actually CHEAPER to idle/close down the plants that are more efficient with younger workers (less labor cost per auto). It's an upside down world.Also, he said that the UAW forced GM into agreeing to only buy parts from union shops which have also caused the profit margins to shrink over the past 5 years.
So I take it that the consensus is to break up the unions which are full of American workers in favor of a higher profit margin? Unions were formed to protect the workers, now they are looked on as the bane of domestic manufacturing? Unions may have to re-work some ideas but to shit on them collectively is lulz.
