Let's be fair. Obama is bad, but not nearly as bad as Roosevelt. There is no need to exaggerate.
The "Obama Bear Market"...
- Thread starter MobBoss
- Start date
Why stop. It is not like humor and satire are somehow illegitimate, unintelligent, or ineffective means of political communication. In fact quite the opposite and throughout history. It's just that some current points are just too easy to ridicule so as to make it seem a rather mindless exercise. Mobby I'm lookin' at you.
Truman had a bear market when he announced the end of WW2. Clearly, stopping the war was a bad idea.
Godwynn
March to the Sea
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We should have marched into Moscow.
RalofTyr
King
So a bunch of Wall Street speculators, have no confidence in Obama and therefore they are buy stocks at a lower value? So what. This means nothing, besides the inherent racism of the elite.
So what if publically traded companies are having trouble. The privately owned companies are doing ok. Private ownership. Isn't that what America's about?
So what if publically traded companies are having trouble. The privately owned companies are doing ok. Private ownership. Isn't that what America's about?
Is this a satirical post?
Godwynn
March to the Sea
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Very satyrical.
While it is an epic misspelling for what Satyrs have (perpetually), you can't be too hard on luiz since he isn't a native speaker and you can't hold it against him.
Berzerker
Deity
figures you'd fall for the latest in GOP propaganda (how many years have you been drinking the kool aid?), think before repeating BS. This notion that Bush's economy ended in January and Obama's responsible for everything since is spin, its downright dishonest and more proof of the GOPs moral bankruptcy. Do Repubs really believe the economy would have perked up if only America had elected McCain or some other Repub? Do Repubs really believe Wall Street's troubles started this year? C'mon, y'all might be that stupid but dont insult the rest of us with that nonsense.
woody60707
Deity
FriendlyFire
Codex WMDicanious
Hmmm IIRC I though you were going to buy shares when the stockmarket hit 8000 ?
The recession is mental ? The fundamentals of economy is strong ? Sub prime is only 6% pf all mortgages ?
After all the information out now about how the economy was a house of cards. Incompetence from congress to the president. Its ironic that Obama should take responsibility for events occuring during hes presidency when the last eight years President Bush blamed everyone in sight.
general_kill
Deity
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- 2,870
Mobboss thank you for coming back to the forum. I've had to fill your gap for awhile.
Berzerker
Deity
Blaming Obama for the lack of oversight under Bush is 
Its even more ridiculous than liberals blaming the housing bubble on "the market"... Nah, it takes an ideologue to blame the market for govt policies designed to promote home ownership and thats pretty damn ridiculous.
anyway, a few months ago I figured the market would bottom out at or near the pre-housing bubble levels - 7000-7500 I think. But that was a guess, I dont know what the level was before the bubble started inflating. Course the pendulum overswings so the bottom dont truly reflect value either. If we go much below 6500 I'd be worried, 6000 is uh oh time.
God damned social engineers screw the economy up and then blame the market
Its even more ridiculous than liberals blaming the housing bubble on "the market"... Nah, it takes an ideologue to blame the market for govt policies designed to promote home ownership and thats pretty damn ridiculous.anyway, a few months ago I figured the market would bottom out at or near the pre-housing bubble levels - 7000-7500 I think. But that was a guess, I dont know what the level was before the bubble started inflating. Course the pendulum overswings so the bottom dont truly reflect value either. If we go much below 6500 I'd be worried, 6000 is uh oh time.
God damned social engineers screw the economy up and then blame the market
RalofTyr
King
Blaming Obama for the lack of oversight under Bush is
Actually, conservatives are blaming minorities for the housing mess.
And we all know to own a home, you have to have a job, something most liberals don't have.
Isn’t the Dow Jones Industrial Average just a short twitch numerical representation of a bunch of guesses about other people’s assumptions about the financial well-being of an arbitrarily chosen group of 30 out of tens of thousands of possible companies? NO! YOU’RE WRONG! It is a real-time cause-and-effect precision barometer of how the President is doing! It’s been that way for years!
I wouldn't be a proper college-aged liberal if I didn't quote John Stewart whenever possible.
I wouldn't be a proper college-aged liberal if I didn't quote John Stewart whenever possible.
The problem with the markets are a continuation of problems that started a long time ago but my assessment is the uncertainty continues under his administration.
Consider some of the things that have been put forth...
Was the stimulus apropriate in size? Yes, given the challenges we face. The "C+I" are in decline and the "G" is needed to absorb that decline.
Timely? Not really. Only a quarter of the stimulus will be felt in 2009.
Stress tests? How this was different from the traditional practices of bank regulators such as the SEC and the Fed? Wasn't the government already acting to ensure sufficient capital?
Public-Private Investment Fund? Is this just a revamped version of Paulson's original plan? Due to difficulties in valuing assets it seems Tim Geithner should've been able to illustrate this plan considering it's been in front of him for over 6 months.
Consumer and Business Lending Initiative? Expands on the original plan but why did the SBA put goodwill limits for business purchases in place March 1st? Less lending for business purchases instead of more? Doesn't make sense.
Housing Program Unfortunately, Geithner pre-announced a housing program without any details.
Refinancing Of Loans With Inadequate Collateral Since it's likely home values will fall further, this is a group that might next to default. Allowing them the benefit of lower rates seems smart.
Loan Modifications Based On Affordability This will come in with $75 billion price tag.
This plan allows 3-4 million homeowners with insufficient means to have their rates lowered with a government subsidy. The problem is these homeowners will likely walk away from their loans as values fall further. The history with payments on renegotiated loans is not a pretty one and likley just prolongs the inevitable.
Judicial Cram Downs This is potentially the most damaging part of the plan. This proposal would allow the courts to renegotiate underwater mortgages. It is difficult to see exactly how this would play out, however, it seems to damage the very same financial institutions that the government is trying to bail out. Who are we trying to save?
Bottom line is the proposals seem to take a shot gun approach to a fix instead of trying to isolate the biggest problems with a rifle first.
Consider some of the things that have been put forth...
Was the stimulus apropriate in size? Yes, given the challenges we face. The "C+I" are in decline and the "G" is needed to absorb that decline.
Timely? Not really. Only a quarter of the stimulus will be felt in 2009.
Stress tests? How this was different from the traditional practices of bank regulators such as the SEC and the Fed? Wasn't the government already acting to ensure sufficient capital?
Public-Private Investment Fund? Is this just a revamped version of Paulson's original plan? Due to difficulties in valuing assets it seems Tim Geithner should've been able to illustrate this plan considering it's been in front of him for over 6 months.
Consumer and Business Lending Initiative? Expands on the original plan but why did the SBA put goodwill limits for business purchases in place March 1st? Less lending for business purchases instead of more? Doesn't make sense.
Housing Program Unfortunately, Geithner pre-announced a housing program without any details.
Refinancing Of Loans With Inadequate Collateral Since it's likely home values will fall further, this is a group that might next to default. Allowing them the benefit of lower rates seems smart.
Loan Modifications Based On Affordability This will come in with $75 billion price tag.
This plan allows 3-4 million homeowners with insufficient means to have their rates lowered with a government subsidy. The problem is these homeowners will likely walk away from their loans as values fall further. The history with payments on renegotiated loans is not a pretty one and likley just prolongs the inevitable.
Judicial Cram Downs This is potentially the most damaging part of the plan. This proposal would allow the courts to renegotiate underwater mortgages. It is difficult to see exactly how this would play out, however, it seems to damage the very same financial institutions that the government is trying to bail out. Who are we trying to save?
Bottom line is the proposals seem to take a shot gun approach to a fix instead of trying to isolate the biggest problems with a rifle first.
Interesting. I should consider looking into astrophysics for advice on financial matters.
Judicial Cram Downs help the home owner and I have no beef with that. They give a home owner big time leverage to renegotiate loans with a lender and avoid foreclosure/bankruptcy which costs the banks more anyways so I don't see the problem.
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