Stock market is up 41% since the day Obama took his oath of office. It was down 20% under George W Bush's presidency. I'm personally doing much better under his tenure.
Stock market is up 41% since the day Obama took his oath of office. It was down 20% under George W Bush's presidency. I'm personally doing much better under his tenure.
the dollar has been devalued around 40%, so there is you "up" stock market.
against what?
B I G G U Y wrote:
the dollar has been devalued around 40%, so there is you "up" stock market.
.
Actually, the value of the US dollar to the Euro is identical to what it was when Obama became president.
You can look these things up, you know
Bush's plan to fix the economy is working just as planned. Obama is lucky that a fix was already in place when he took the oath, all he has had to do was take credit for the work W had already completed. Everyone knows that Obama would not have had the balls or brains to fix the economy on his own. He's a damn community leader after all, not someone we can count on to do anything significant.
Well The Real Uncle B your entirely correct. Political genius. End of thread.
The best part about your post was the insightful unbiased rhetoric coupled with the hard facts and citations to back them up.
I will agree that saying he has no balls probably doesn't need a citation. It is just all to obvious for anyone who is educated to challenge. I mean really... "Obamacare?" he was handed that on a silver platter and didn't have to use any balls there at all.
... You know the tone and volume of your post is what causes incidence like those recently experienced in Arizona. Be constructive and not destructive. Nobody is perfect and I am not defending any actions by anyone but your post is mindless and borderline worthless
The Stock Market isn’t the only thing that’s gone up under Obama’s period in office.
Your national debt has risen from $10.6 trillion on the day he was inaugurated - to $14.02 trillion today.
With a $1.7 trillion deficit in budget year 2010 alone, and your government on track to spend $1.3 trillion more this year than it takes in - your annual budget deficits are adding roughly $4 billion a day to the national debt.
Put another way, the Obama government is borrowing 41 cents for every dollar it spends.
Glad I don’t run my household budget on those lines.
///M wrote:
Stock market is up 41% since the day Obama took his oath of office. It was down 20% under George W Bush's presidency. I'm personally doing much better under his tenure.
Your numbers are wrong and underestimate the performance of the stock market under Obama - the SP 500, which is a measure of large cap US stocks, is up 67% including dividends since the inauguration.
The broadest measure of US stocks, the Value Line index, which measures almost 2,000 stocks equally, is up 133% since the inauguration.
Most of this is just luck - Obama took place right at the bottom.
But looking back, I think Obama and his team will be judged one of the greatest 'peacetime' administrations.
Based on what exactly?
I would also add that "peacetime" administrations are rarely enganged in multiple wars simultaneously.
Alf Shrubb wrote:
Glad I don’t run my household budget on those lines.
Not to discount some of what you said, but you do understand there is difference between micro and macroeconomics I hope.
I would also point out that last few years of deficit including Bush's '08 fiscal year, are more a function of declining revenues and unemployment than an increase in national spending.
Democratic administrations have significantly outperformed Republican ones for the past 80+ years. Make sense that the better business policies of the democrats would lead to higher stock market returns.
agip wrote:
///M wrote:Stock market is up 41% since the day Obama took his oath of office. It was down 20% under George W Bush's presidency. I'm personally doing much better under his tenure.
Your numbers are wrong and underestimate the performance of the stock market under Obama - the SP 500, which is a measure of large cap US stocks, is up 67% including dividends since the inauguration.
The broadest measure of US stocks, the Value Line index, which measures almost 2,000 stocks equally, is up 133% since the inauguration.
Most of this is just luck - Obama took place right at the bottom.
But looking back, I think Obama and his team will be judged one of the greatest 'peacetime' administrations.
mez wrote:
I would also add that "peacetime" administrations are rarely enganged in multiple wars simultaneously.
well, that is why I put peacetime in quotes. There is conflict, but it can't compare to the civil war or either world war. Or even Vietnam. The country is not on a war footing.
What do I think Obama is doing well? First of all, in late 2008, early 2009 there was genuine concern that the financial system would collapse. That has not happened. He hired many smart people who built confidence. The economy is starting to build some pretty good momentum. The US economy is like a supertanker - hard to get going but once it does, it tends to carry on.
Second, he has started to deal with the health care crisis. Like Obamacare or not, he is acknowledging that we can't afford our current system and is trying to fix it. Obamacare is not perfect and will have to be modified as all programs are. But it is a step.
Third, he has brought back to government reasonableness and brains. I am a moderate/independent sort of voter and I was appalled by the Bush 2 administration's lowbrow dumbassness. Obama is smart and hires smart people and doesn't pretend he is just a hick from the scrubland.
Foreign policy - we're getting along with everyone except the loony arabs. Chinese relations are good, europe relations are good, south american relations seems to be healing, etc.
There's more, but most of all I like his tone - admirable and a great role model.
I also believe 2011 is going to be a productive year - much of my hope lies in this year. I think he will tackle the debt problem and the ridiculously complex tax code.
On the negative side, he has sure spent too much money.
The New UncleB wrote:
Actually, the value of the US dollar to the Euro is identical to what it was when Obama became president.
This is true only because the Euro has been weak, not because the USD has been strong. A more useful measure of the dollar's value is to look at the prices of commodities, which have skyrocketed since Obama took office. The value of US stocks may have increased nominally, but those dollars now have far less purchasing power in terms of raw materials. Moreover, much of the effect of our inflation is being felt in China, where the government devalues its own currency to match the influx of inflation from America. The increase in commodities prices has not yet been passed on to US consumers, but it soon must be. Therefore we are poorer, not wealthier as a result of Obama's policies.
It wasn't just luck. Obama inherited the biggest world economic mess since FDR.
The US Dollar Index went from 110 to 81 under Bush. The decline has been stopped under Obama.
The US Public Debt went from $5.5 trillion to $10.6 trillion under Bush.
When Obama took office, the word being used (see the headline of the New York Times on Inauguration Day) was "crisis" and many were predicting a worldwide depression.
The market didn't just go up after Inauguration. The bottom was a couple of months later, after investors could see that things were changing from the morons that had been running things for the previous 8 years.
Alf Shrubb wrote:
Your national debt has risen from $10.6 trillion on the day he was inaugurated - to $14.02 trillion today.
Yes, I so long for the days when the country was "ONLY" $10.6 trillion in debt, the credit markets completely froze, and the entire american financial system was on the brink of collapse.
One must be absolutely incompetent not to be able to completely right the ship in less than two years after an utter cluster-f*#k of that magnitude while financing two "wars" with no known objective that you can't withdraw from without being accused of being sympathetic to terrorism.
I mean, come on, really. What is so difficult about that? I am able to balance my checkbook. I fail to understand why this president can't grasp such a simple concept as balancing a budget.
I guess he is too busy covering his tracks about where he was actually born. The dude is such a slacker. What were y'all thinkin' in electing this guy? Everything used to be great.
Rational Economics wrote:
The New UncleB wrote:Actually, the value of the US dollar to the Euro is identical to what it was when Obama became president.
This is true only because the Euro has been weak, not because the USD has been strong. A more useful measure of the dollar's value is to look at the prices of commodities, which have skyrocketed since Obama took office.
eh. Only sort of true. Commodity prices (other than gold) were low at inauguration time because the world was in a near-depression state - noone needed much steel or cotton.
Look at it this way - commodity prices (measured by the DJP exchange traded fund, which measures a broad basket of commodities), is actually down from its June 2008 peak. Down a massive 30%.
By your logic then, since commodity prices have fallen sharply since 2008, the dollar has gained massive purchasing power in that time. I don't think that is a correct statement and you probably don't either.
Macroeconomics is about as inexact a science as they come - there are too many factors to measure to be as certain as you want to be about anything.
This is true only because the Euro has been weak, not because the USD has been strong. A more useful measure of the dollar's value is to look at the prices of commodities, which have skyrocketed since Obama took office. The value of US stocks may have increased nominally, but those dollars now have far less purchasing power in terms of raw materials.
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whoops, meant to quote this text not what appears on the above post.
Gas prices are up even more. Gas was under $2.00 when Obama took over, now it's over $3.00.
Obama is engaged in wars in Iraq, Afghanistan, Pakistan and who knows where else. He's ramped up debt and unemployment hasn't improved (don't let that drop from 9.8 to 9.4 fool you, it's a misleading stat).
If he's considered a peacetime president we're screwed.
I also believe 2011 is going to be a productive year (quote)
Talk about living in cloud-cuckoo land
First of all - the dollar’s tanking.
Smart investors abandoned the dollar a long time ago and now even foreign governments and reserve banks are starting to flee.
So your Federal Reserve, (Do’you know who owns the Fed Reserve) is trying to make up the slack of those no longer willing to risk their own money in, what is clearly now - a losing game.
But printing fiat money to buy more fiat money is a death spiral that can only lead to massive inflation - and the rest of the world knows it.
You can’t possibly repay what you owe now - yet your government spends, spends, spends, and borrows, borrows, borrows.
2011 is the year I forecast the dollar will lose its status as the world’s reserve currency - and wait to see the disastrous effect that will have on the American economy.
Incidentally, here's what then-Sen. Obama said on the Senate floor in 2006:
"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure.
It is a sign that the U.S. government can't pay its own bills.
It is a sign that we now depend on ongoing financial assistance from foreign countries to finance the government's reckless fiscal policies."