When does this admin. start getting the blame..

[oumartin]

for the economy? Just an honest question. There is no doubt the previous admin. is to blame for alot of what has happened. So, I wanna know just how bad will it have to get. It obviously doesn't look to be turning around any time soon.

2,000 points on the Dow since the inaguration.

[jkjsooner]

I would think sooner rather than later. I think among the informed (economists and such) it might be quite a while before they start placing blame on him. The general public is not as rational.

The fact is, this economy was cratering long before Obama even won the election. Obama definitely has nothing to do with AIG's continuing collapse which is driving today's fall.

Without govt intervention AIG would have collapsed a while ago so it seems quite dishonest to pin AIG's problems on anything the govt has done recently.

I personally don't think now is the right time for healthcare reform as we have a disaster that needs our attention unfolding. However, for those complaining about all the stimulus packages, just stop and listen to the economists out there. Almost every single one is saying that if the govt doesn't shore things up our economy will totally collapse. I don't pretend to understand the issues as well as they do and that is why I am listening to them. I would love a fiscal conservative govt but for now I'm going to trust the experts...

Given, many of these economists totally missed the housing bubble that easy to see for anyone paying attention. But I still have to trust them when they say we're in deep deep trouble and the govt must prop up our financial system.

Bush would not have pushed TARP 1 if there weren't plenty of people out there warning of dire consequences.

[Condescending Sooner]

Whenever the love fest from the media ends, if it ever does.

[OklahomaTuba]

Oblama could have helped us out by demanding a REAL stimulus plan instead, but instead he chose to bail out his special interests with his porkulus plan.

He doesn't get blame for the recession, but he certainly gets the blame for making much worse than it should be.

Interesting analysis:


SEVENTEEN PERCENT has come off the S&P since your inauguration, and we're nowhere near done for today.

It'll likely be 20% by the close at the current rate of deterioration with the largest falls being on your inauguration date and then from the date where it became clear that YOUR TREASURY SECRETARY was going offer "more of the same" that has FAILED.

You are certifiably insane; only an insane person does the same thing over and over, which has repeatedly failed, and expects a different result.

I hope you enjoy this Barack, because it's all yours, and every man, woman and child in America needs to understand that it is your refusal to do the right thing that has continued the bleeding in their 401ks (now 201ks and soon 101ks or even 51ks), IRAs, and soon their pension plans will all blow up, bankrupting over 100 of our largest firms and putting 10 million more people out of work.

Congratulations Barack; we are now in a full-on economic and market meltdown over the last week and it is getting MUCH WORSE as a direct and proximate cause of your policies.

http://market-ticker.denninger.net

[tommieharris91]

Almost every single one is saying that if the govt doesn't shore things up our economy will totally collapse.

Not quite true. Plenty of them are saying the government need to stay out and that no company is truly "too big to fail."

[sitzpinkler]

From reading the majority of posts on here you'd think it was Obama's fault to begin with.

I mean, hell, he wasn't able to turn a recession around in under two months? What a piece of ****!

John McCain obviously would have solved all the worlds problems by now. Stupid *** voters! Why doesn't anybody realize that only people with an (R) beside their name are capable of doing any good in this world? Everybody else is out to **** you over, don't you know that? Let's take up arms and take this country back! :rolleyes:

[JohnnyMack]

McCain's likely hands-off approach to the economy would be yielding the same results we're seeing today. This bloodletting has nothing to do with Obama (and I would say the same thing about McCain had he won). People who are trying to turn this into a my guy vs. your guy are really missing the point. It would be like someone else taking control of the Titanic AFTER it hit the iceberg and saying to him, "why can't you stop it from sinking?"

[texas bandman]

McCain's likely hands-off approach to the economy would be yielding the same results we're seeing today. This bloodletting has nothing to do with Obama (and I would say the same thing about McCain had he won). People who are trying to turn this into a my guy vs. your guy are really missing the point. It would be like someone else taking control of the Titanic AFTER it hit the iceberg and saying to him, "why can't you stop it from sinking?"

How true! The economy was going over a cliff and now people are complaining since Obama can't stop the free fall...Give me a break.

[oumartin]

Well he did promise change did he not?

[yermom]

i'd at least wait until the money promised gets somewhere to see if it does anything

the Chicken Littles on Wall Street are just speculating. the stock market was and probably still is overinflated from what i can tell.

from every explanation i have heard our economic system is fundamentally flawed, and the house of cards is falling like dominoes

[starclassic tama]

he wasn't able to save the economy in a month and a half? IMPEACH HIM

[OklahomaTuba]

How true! The economy was going over a cliff and now people are complaining since Obama can't stop the free fall...Give me a break.

He could have stopped the free fall by giving us a REAL stimulus package and not a political pay off, and by actually having a banking plan.

He could have stopped this by cutting taxes instead of telling everyone he is RAISING TAXES!!!

All Oblama seems to be able to do is throw a trillion a week at the problem and tell us how much of a crisis it is. And then send PantsSuit to China to beg them to buy our trillions of new debt.

But this is what we get for electing the most anti-capitalist leftist with no experience whatsoever. He is

OVER.

HIS.

HEAD.

Bigtime.

[oumartin]

I just feel that most everyone is gonna give him a free pass even if the country ends up in ruins.

[OklahomaTuba]

I actually want to give the guy props for Iraq too. Very good move IMO.

But Oblamanomics is a F'kn disaster. Capital is fleeing our markets at a rate never before seen, and its starting to spin out of control. Until we get some leadership I feel there is just no end in sight here.

But the libz will love him, no matter what, cause he talks real good and stuff. That's about the depth of their thinking usually.

[JohnnyMack]

He could have stopped the free fall by giving us a REAL stimulus package and not a political pay off, and by actually having a banking plan.

He could have stopped this by cutting taxes instead of telling everyone he is RAISING TAXES!!!

All Oblama seems to be able to do is throw a trillion a week at the problem and tell us how much of a crisis it is. And then send PantsSuit to China to beg them to buy our trillions of new debt.

But this is what we get for electing the most anti-capitalist leftist with no experience whatsoever. He is

OVER.

HIS.

HEAD.

Bigtime.

Jenni?

[JohnnyMack]

I actually want to give the guy props for Iraq too. Very good move IMO.

But Oblamanomics is a F'kn disaster. Capital is fleeing our markets at a rate never before seen, and its starting to spin out of control. Until we get some leadership I feel there is just no end in sight here.

And I think yours is an expected, knee-jerk, partisan response.

[OklahomaTuba]

Jenni?

hi Forest.

[GrapevineSooner]

Give them a year at the very least.

[OklahomaTuba]

Not even the ChiComs have that much cash.

[OUHOMER]

Well, if Obama signs this he takes ownership IMO. they say this was left over from GW. But Obama could stand up and say this is BS, take out the ear marks. To say this is last years business and signing and walking away is A) failing on a campaign promise B) irresponsible C) no change in politics

WASHINGTON – President Barack Obama will break a campaign pledge against congressional earmarks and sign a budget bill laden with millions in lawmakers' pet projects, administration officials said.

Administration budget chief Peter Orszag and White House chief of staff Rahm Emanuel both downplayed the $410 billion spending bill and signaled Obama would hold his nose and sign it.

Orszag said: "We want to just move on. Let's get this bill done, get it into law and move forward."

Said Emanuel: "That's last year's business."

The House last week passed the measure that would keep the government running through Sept. 30, when the federal budget year ends. Taxpayers for Common Sense, a watchdog group, identified almost 8,600 earmarks totaling $7.7 billion; Democrats say the number is $3.8 billion.

http://news.yahoo.com/s/ap/20090302/ap_on_go_pr_wh/obama_spending;_ylt=Ahby.Rh7zCL24t4pwmW8huhp24cA

[Oldnslo]

Wasn't McCain the candidate who said he really didn't understand economics?

[jthomasou78]

I think the economy was unsteady to begin with. However, I dont think Obama has been clear at all on what is plan for America is. We pass one 800 billion dollar stimulus plan, and another 300 billion dollar plan is right behind it. The markets do not like uncertainty, and I think the lack of clarity from BHO has definitely lead to some of the uncertainty. Companies that continue to turn great profits in this economy are watching their stock drop as far down the crapper as those who are asking for bailout after bailout.

Only time will tell if in the long run the Obama plan will work, but I think in the short term he has done more harm then McCain would have.

[Okla-homey]

It's Bush's fault.

[yermom]

i don't think Bush helped anything, but it was in trouble before 9/11 and then it was in the toilet

[OklahomaTuba]

It's Bush's fault.
Jim Cramer & the rest of wall street seem to believe otherwise....


Cramer said he wished he could come out and say something positive on tonight's show. Instead, he cautiously said the stock market simply can't afford Obama's agenda.

Cramer said until Obama starts paying attention to the stock market or gives some sign that he realizes everything is falling apart, the markets will continue to act like a slow motion accident that won't stop until stocks reach absurdly low levels.

Cramer acknowledged that for a new president, changing the world might seem irresistible, but he said simply that Obama needs to put his whole agenda on hold, for now, until things can stabilize. He said it's not just the banks that are getting pushed down by Obama's policies, now the oil stocks, along with health care, are also in free fall.

"What's good for stocks is not always good for America," said Cramer. "But for now, it sure is," he continued.

He said that stability matters, and that stability has all but vanished from markets. He warned that if Obama continues his assault on the markets, the Dow Jones Industrial Average could see 4,000, a level not seen since 1994.

http://www.thestreet.com/story/10467201/1/cramers-mad-money-recap-march-2.html

We can turn this around, but we can't if we are imposing more taxes and regulation. It just breeds instability and uncertainty.

[yermom]

can someone explain to me why it matters what the DJIA is? i mean fundamentally

i don't remember people jumping out of buildings on Wall Street in 1994

[Chuck Bao]

I've said several times here that the only way out of the current banking crisis is to try to lie our way out. Yes, the market wants clarity, but it can't or won't deal with the truth. It is not the stock market calling Obama's bluff. It is the large private investors who know that buying into the banks or their assets at this time would be disastrous. The lies aren't working and the result is a painful, jerky slide in the stock market to where it should have been before Obama even took office. Whoever said that the markets are always rational on a short-term basis? I have also be arguing for the nationalization of the big banks because I think we are heading there anyway. The market doesn't like that.

This has been the easiest stock market call since I've been watching markets for 20 years. It is a no-brainer. DO NOT BUY OR HOLD BANKING SHARES!

To answer the original question: it typically takes 6-9 months for cuts in interest rates to affect the overall economy. For fiscal stimulus measures, it would take longer depending on the efficiency of spending. I would say that one year from now would be a pretty good time frame to start judging the effectiveness of Obama's policies. But, I know some of you guys are not going to wait that long to get your cheap shots in...and this is just a sports fans' message board.

[OklahomaTuba]

can someone explain to me why it matters what the DJIA is? i mean fundamentally

i don't remember people jumping out of buildings on Wall Street in 1994

Because it represents the valuation of our companies, our pensions, IRAs, 401Ks, etc.

So, it means our jobs, our retirements, our credit, our loans, you know, just about anything and everything that makes the world go round.

And nothing since the great depression has rivaled the losses stocks are taking right now.

This **** is rolling down hill, fast.

I prefer looking at the S&P500 index, even though its just as, if not more, depressing.

[Chuck Bao]

Because it represents the valuation of our companies, our pensions, IRAs, 401Ks, etc.

So, it means our jobs, our retirements, our credit, our loans, you know, just about anything and everything that makes the world go round.

And nothing since the great depression has rivaled the losses stocks are taking right now.

This **** is rolling down hill, fast.

I prefer looking at the S&P500 index, even though its just as, if not more, depressing.

It is funny that you mention the fact that stock markets value companies, our pensions, IRAs, 401Ks, etc.

I have been complaining for the last year that Americans didn't quite grasp the depth of the problems we face and now all of sudden we get the re-action, most likely a pending over-reaction. That is probably as good as any definitition of how stock markets work these days. I guess I should be thankful for it because that is why I have a job.

[JLEW1818]

Trillion dollars. It would take Obama like his entire 4 years to count that high.