Wall Street's Worst Enemy is in the Oval Office

[웃 910]

If Obama wants to help middle class America, he needs to start with helping Wall Street. And all bull shiX aside---Obama is Wall Street's worst enemy. Because of that, he is America's worst enemy. Don't blame me; I know and always have known that the economy trumps social issues; health care issues; even foreign policy issues. I was beyond baffled at how popular he got---considering he was a nobody. All he had is two words in his vocabulary that Bush haters loved to hear over and over: "hope" and "change". I heard again and again from Guiliani and other Republicans...."Yes, America will get change. But what kind of change? Good change or bad change!"

Give me a break with the old "he has only been in office for a month." What has gotten worse since the November elections (besides the introduction of his "stimulis" bills)? Lehman, Merrill, Bear Stearns, Washington Mutual, Fannie Mae, Freddie Mac, etc. They all went bankrupt in Septmeber of 2008 which is why America elected Obama. The timing was perfect for him. The only thing the majority of Americans didn't know is that Obama is Wall Street's and therefore America's number 1 enemy.

B. Hussein Obama is more dangerous than Usama bin Laden!!!!!!!!! Far more dangerous!!!!!!!!!!

I recall democrats mocking republicans. They would sarcastically reply "Omg. Obama is elected. That is sooooo scary! Whatever will we do? Obama is now are president. Run! Hide! We are all doomed!"

Guess what? We are!

While Washington has lauded the $787 spending bill as the medicine that will help bring the economy out of the recession that President Obama 'inherited,' the market is taking a different view. Consider this -- since the spending bill was passed by Congress on February 13th, the S&P 500 has lost over $1.8 trillion in market cap, which is over twice the size of the plan signed into law! The question for economists now is whether or not the positive multiplier effect associated with the spending bill will be enough to offset the negative multiplier effect from the decline in the value of US equities in the pension funds, IRAs, 401k's, and investment accounts of Americans.

As shown in the chart above, during the first few weeks of President Obama's Administration, the Dow was rangebound with a slight negative bias. It wasn't until the stimulus bill was signed and the budget unveiled that the bottom fell out of the market. Since Inauguration Day, the Dow has declined 1,686 points (20.4%). Of those 1,686 points, 1,253 have come since the passage of the stimulus plan. While there are certainly plenty of other issues weighing on the market, it's hard to argue that the "stimulus" and budget proposal haven't had a negative impact. While the Bush Administration was criticized by investors for lacking clarity in its policies regarding the economy, Wall Street clearly is not comfortable with the actual clarity coming out of Washington today. With a 20.37% decline since Inauguration Day, the Dow's performance during President Obama's Presidency already ranks as the third worst among US Presidents since 1900. However, one thing Obama has on his side is time. While George Bush II can't do anything to change his legacy in Wall Street's eyes, President Obama has plenty of time to turn things around. For the sake of the 150+ million Americans who own stocks, let's hope he does.

As you'll notice from the above chart. Obama just did in 30 days what took Bush 8 years to do!!

Edited March 6, 2009 by Confucian

[I AM NOT THAT GUY 5,715]

Why do you hate our President?

[almaty 19]

and America

[웃 910]

Another thing. The January 20th, 2009 number they are using for the Dow Jones is 7,049 points. Try using the close of the Dow Jones on November 4th, 2008, election day!!! It closed at 9,625!!!

9,625 points to the current 6,588 is a massive 32% drop in the four months since his election. That has got to be a record change! But is it a good or a bad change?

[I AM NOT THAT GUY 5,715]

It's definitely not chump change!

[The_Dude 1,142]

Another thing. The January 20th, 2009 number they are using for the Dow Jones is 7,049 points. Try using the close of the Dow Jones on November 4th, 2008, election day!!! It closed at 9,625!!!

9,625 points to the current 6,588 is a massive 32% drop in the four months since his election. That has got to be a record change! But is it a good or a bad change?

And who was the president during that giant drop?

Your hatred of America is making little kittens cry

[HAL 9000 96]

And Jesus is taking note of those kittens.

[Mononoke28 137]

This is the stupidest thread thread I've read all week. Anyone how makes the idiotic comment that Barack Obama is "far more dangerous" than Osaba Bin Laden makes me seriously question their IQ Level. No joke.

Diana

[웃 910]

Why do you hate our President?

I don't hate him. I'm just saying he is extremely dangerous for our economy and our country. Give it another month when the Dow is closing under 5,500 points. If you haven't noticed yet: we are in a depression.

The Dow Jones closed above 14,100 points under Bush II in October of 2007. We are under 6,600 points right now. The Dow Jones will not see that 14,100 number for at least a decade. That is what you call a depression.

Try making an investment and losing 70% of it since Obama got sworn in. It's not that I don't want him to succeed. I wish he was doing great. I wish he had policies that Wall Street liked (people that are invested in America are the people on Wall Street). I would love it if he got the economy going. I was the first to say that if his policies worked and the economy recovered: he would have my vote in 2012 (as long as he was not running against Mitt Romney). Unfortunately, his policies are terrible. People think that, under the leadership of Obama, America is not a wise investment right now, therefore the stock market is crashing every single day. January and February were the worst months on record, in over 100 years for the stock market.

Nothing on Wall Street has changed except our president. Wall Street reacts to how it sees America in a few months, a few years. They know who is in charge and they don't see America the same a few years down the road. Therefore everyone loses. Trust me, I would be praising him like the media does, I'd be getting shivers up my leg, I'd too have the butterflies if the people that were betting on America thought that his policies would succeed. Unfortunately, they think he is dangerous for our country and that is why the DJIA has crashed 35% since his election.

[HAL 9000 96]

Oh boy. More of this.

[alienlovechild 75]

Nothing on Wall Street has changed except our president. Wall Street reacts to how it sees America in a few months, a few years. They know who is in charge and they don't see America the same a few years down the road.

Most Obama worshippers are convinced the stock market only reflects the past or Bush mistakes and it doesn't consider that investors are looking to future returns. In the short run, Obama has been a nightmare for the economy and worse than even I thought possible during the campaign.

Anyone how makes the idiotic comment that Barack Obama is "far more dangerous" than Osaba Bin Laden makes me seriously question their IQ Level.

Question your own IQ or spelling first- "Osaba" ?

[NickD 203]

"Yes, America will get change. But what kind of change? "

I was hoping for two quarters, two dimes, and four pennies, so I could buy a nickel candy bar.

[I AM NOT THAT GUY 5,715]

Deception at Core of Obama Plans

By Charles Krauthammer

WASHINGTON -- Forget the pork. Forget the waste. Forget the 8,570 earmarks in a bill supported by a president who poses as the scourge of earmarks. Forget the "$2 trillion dollars in savings" that "we have already identified," $1.6 trillion of which President Obama's budget director later admits is the "savings" of not continuing the surge in Iraq until 2019 -- 11 years after George Bush ended it, and eight years after even Bush would have had us out of Iraq completely.

Forget all of this. This is run-of-the-mill budget trickery. True, Obama's tricks come festooned with strings of zeros tacked onto the end. But that's a matter of scale, not principle.

All presidents do that. But few undertake the kind of brazen deception at the heart of Obama's radically transformative economic plan, a rhetorical sleight of hand so smoothly offered that few noticed.

The logic of Obama's address to Congress went like this:

"Our economy did not fall into decline overnight," he averred. Indeed, it all began before the housing crisis. What did we do wrong? We are paying for past sins in three principal areas: energy, health care, and education -- importing too much oil and not finding new sources of energy (as in the Arctic National Wildlife Refuge and the Outer Continental Shelf?), not reforming health care, and tolerating too many bad schools.

The "day of reckoning" has now arrived. And because "it is only by understanding how we arrived at this moment that we'll be able to lift ourselves out of this predicament," Obama has come to redeem us with his far-seeing program of universal, heavily nationalized health care; a cap-and-trade tax on energy; and a major federalization of education with universal access to college as the goal.

Amazing. As an explanation of our current economic difficulties, this is total fantasy. As a cure for rapidly growing joblessness, a massive destruction of wealth, a deepening worldwide recession, this is perhaps the greatest non sequitur ever foisted upon the American people.

At the very center of our economic near-depression is a credit bubble, a housing collapse and a systemic failure of the entire banking system. One can come up with a host of causes: Fannie Mae and Freddie Mac pushed by Washington (and greed) into improvident loans, corrupted bond-ratings agencies, insufficient regulation of new and exotic debt instruments, the easy money policy of Alan Greenspan's Fed, irresponsible bankers pushing (and then unloading in packaged loan instruments) highly dubious mortgages, greedy house-flippers, deceitful homebuyers.

The list is long. But the list of causes of the collapse of the financial system does not include the absence of universal health care, let alone of computerized medical records. Nor the absence of an industry-killing cap-and-trade carbon levy. Nor the lack of college graduates. Indeed, one could perversely make the case that, if anything, the proliferation of overeducated, Gucci-wearing, smart-#### MBAs inventing ever more sophisticated and opaque mathematical models and debt instruments helped get us into this credit catastrophe in the first place.

And yet with our financial house on fire, Obama makes clear both in his speech and his budget that the essence of his presidency will be the transformation of health care, education and energy. Four months after winning the election, six weeks after his swearing in, Obama has yet to unveil a plan to deal with the banking crisis.

What's going on? "You never want a serious crisis to go to waste," said Chief of Staff Rahm Emanuel. "This crisis provides the opportunity for us to do things that you could not do before."

Things. Now we know what they are. The markets' recent precipitous decline is a reaction not just to the absence of any plausible bank rescue plan, but also to the suspicion that Obama sees the continuing financial crisis as usefully creating the psychological conditions -- the sense of crisis bordering on fear-itself panic -- for enacting his "Big Bang" agenda to federalize and/or socialize health care, education and energy, the commanding heights of post-industrial society.

Clever politics, but intellectually dishonest to the core. Health, education and energy -- worthy and weighty as they may be -- are not the cause of our financial collapse. And they are not the cure. The fraudulent claim that they are both cause and cure is the rhetorical device by which an ambitious president intends to enact the most radical agenda of social transformation seen in our lifetime.

http://www.realclearpolitics.com/articles/...cky_budget.html

[Mononoke28 137]

Question your own IQ or spelling first- "Osaba" ?

Just because I type really, really fast and have a typo here and there does not make me want to question my IQ.

Don't get me wrong, there is absolutely nothing wrong with not liking any president or questioning whatever decisions he makes. BUT... here comes a huuuuuuuge BUT to say that Obama is FAR MORE DANGEROUS than Bin Laden who is a self proclaimed ASSASSIN, who has murdered and ordered the murder of thousands of innocent people is MORONIC!!! It's stuuuuuupid! Not to mention an incredibly irresponsible comment to make.

Diana

[Mr. Big Dog 10,747]

Why do you hate our President?

I don't hate him. I'm just saying he is extremely dangerous for our economy and our country. Give it another month when the Dow is closing under 5,500 points. If you haven't noticed yet: we are in a depression.

The Dow Jones closed above 14,100 points under Bush II in October of 2007.

Dude, try a small dose of reality here. The Dow lost over 20% under Bush II, Nasdaq and S&P both lost over 40% under his presidency. And the depression, my friend, is something that Obama inherited from that disaster that preceeded him. It started back in late 2007. Obama wasn't even on the ticket let alone anywhere near becoming President at that point in time.