MSN, NYPost articles saying Obama's policies not good for the economy

Two interesting articles I wanted to bring to your attention.

First, the Market Dispatches from MSN yesterday - for the most part of the day, the Stock market was in the gutter about 100 points, until the last 15 minutes of the day when it rallied to make a tremendous comeback and finished up 175 points.

Reading MSN Market Dispatches for an answer as to why, I saw something very interesting:

Why the day was so wild and crazy
There were multiple explanations for the recovery, including:

A big rally in energy stocks. The Select Sector SPDR-Energy (XLE, news, msgs) exchange-traded fund was up 5.3% to $46.55, tops among the ETFs that tracks the components of the S&P 500. The gain was due in part to an uptick in oil prices and an anticipation of OPEC's Friday decision.

Better-than-expected results from an auction of credit default swaps on the debt of the now-failed Washington Mutual (WAMUQ, news, msgs). The results mean that companies that had agreed to pay off WaMu debt in the event of defaults won't have to pay as much as expected.

More stability in credit markets.

Polls that suggest a substantial tightening of the presidential race.

Source: articles.moneycentral.msn.com...

Notice that last line in their reasons why. For the last few weeks we've been hearing how Obama has a significant lead in the polls over McCain. So why would a tightening of the polls make a difference? Could it be that the market realizes that Obama's tax plan is going to cost more than he says it will and will actually do more harm to the community?

I was skeptical and at a loss to explain that comment from MSN, until I saw this article from the New York Post:

Title: "An Obama Panic? Markets Fear His Politics"

Most investors know the devil is in the details - and the details of Obama's economic plans are anything but reassuring.

and

The resulting credit crunch is hitting Main Street harder than ever before. The country is headed for recession; the only question is: Just how low can the markets and economy go?

It could be a lot lower - it all depends on the policies of the next president.

And, as it looks increasingly likely that Obama will be that man, the markets are casting a vote of "no confidence."

www.nypost.com...

So that offered a bit of an explanation to me as for the jump in markets directly attributed to a tightening of the race.

By the way, lending credibility to the suggestion that the race is dead even , I found this on Gallup (they didn't give a margin of error):

Title: "Early Voters Evenly Split Politically"

Gallup Poll Daily tracking conducted Oct. 17-22 finds that among those who have already voted or say they plan to vote before Election Day, 31% support Barack Obama and 29% support John McCain.

Source: www.gallup.com...

reply to post by sos37


What economy? Have you noticed that we are going into a recession? In the last month we had the largest drop in the Stock Market (DOW) EVER in one day and we are hanging now around 8,500.

Here is your point: The failed policies of the Republicans are Great! and had nothing to do with our FAILED ECONOMY. It is the unknown that has not occured yet that is the real problem? An idea is bad? How about acknowledging this is an IDEA - and these people have made PREDICTIONS - I can point you to the current whitehouse with ACTUAL POLICIES that have gotten us to where we are today. You may say, "Thanks for blowing it Obama" in another 8 years - not now.

ColoradoJens

Don't believe those lies.....that's just the LIBERAL MEDIA!!!

The "Have your cake and eat it too" campaign is really hitting full speed!!
Look out Straight Talk Express...

The only "fear" Wall St. has......is paying their taxes!!!

TO COLORADOJENS

the only reason you're saying the past 8 years of bush were failed policies is because obama TOLD you so... check out the information yourself, it has been a normal presidency, nothing all that grand that obama makes it out to be, and CERTAINLY there will be MUCH more spending in the obama presidency, it's in his plan everywhere, aparently he thinks throwing money at problems solves them...

so if you want to be IGNORANT and just beleive everything he tells you, go ahead it's your vote, not mine. i'm not telling you vote for mccain either... but i think it's your responsibility to make an educated and well informed opinion and choice for president, and yes, that means looking at the truth behind what each candidate says, and what they really say they're gona do. specifically in your case, you need to take a gander at obama's plan and also the quotes he makes about the economy.

tip: when looking for the truth, it's obvious an ob ama site or promoter will only tell you exactly what obama says and wants you to hear, therefore you should start by looking into what unbiast news and economists are saying of obama.

like i said, you're not preaching the facts right now, you're just a tongue who repeats obamas mouth, sorry.

[edit on 123131p://upFriday by indigothefish]

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reply to post by indigothefish


I beg to differ. Again, your argument is placed as such that the reality I and you are living in RIGHT NOW is Obama's fault? Or even that more so than the actual last 8 years of legislation, his "proposed" ideas are to fault? Intersting premise, but science fiction.

ColoradoJens

Originally posted by ColoradoJens
reply to post by indigothefish

 

I beg to differ. Again, your argument is placed as such that the reality I and you are living in RIGHT NOW is Obama's fault? Or even that more so than the actual last 8 years of legislation, his "proposed" ideas are to fault? Intersting premise, but science fiction.

ColoradoJens

where doyou get the idea that me or the poster are saying that RIGHT NOW is obama's fault? i never said that, please answer where you are getting that.

Originally posted by ColoradoJens
reply to post by sos37

 

What economy? Have you noticed that we are going into a recession? In the last month we had the largest drop in the Stock Market (DOW) EVER in one day and we are hanging now around 8,500.

Here is your point: The failed policies of the Republicans are Great! and had nothing to do with our FAILED ECONOMY. It is the unknown that has not occured yet that is the real problem? An idea is bad? How about acknowledging this is an IDEA - and these people have made PREDICTIONS - I can point you to the current whitehouse with ACTUAL POLICIES that have gotten us to where we are today. You may say, "Thanks for blowing it Obama" in another 8 years - not now.

ColoradoJens

What do you mean 'What Economy'? Even if the Dow drops to 4,000 it's still an economy, albeit a hurting one.

Also, I'd like you to show me SPECIFICALLY which of the Republican policies are the failed ones that you're referring to that tanked the economy?

Remember, this economic mess started with Clinton lossening banking regulations on Freddie and Fannie. From there, both parties in Congress are to blame for letting it swell into a housing boom by way of unscrupulous, predatory lending, then into a housing bubble.

In fact, it was John McCain in May of 2006 who addressed Congress that Freddie and Fannie needed to be reeled back in, but the Democrat-led Congress at that point ignored him.

So again, I'd like you to show me specifically which Republican policies got us into this mess. Go ahead. I'll wait.

reply to post by sos37

In fact, it was John McCain in May of 2006 who addressed Congress that Freddie and Fannie needed to be reeled back in, but the Democrat-led Congress at that point ignored him.

The 2006 US House election was held on November 7, 2006 to elect members to the United States House of Representatives.

7 months too early. Good try on passing the buck though.

[edit on 24-10-2008 by Grafilthy]

I got one for you....

Answer these questions.....the tell me who knows how to run an economy.

Which president produced:
1. The highest growth in the gross domestic product?
2. The highest growth in jobs?
3. The biggest increase in personal disposable income after taxes?
4. The highest growth in industrial production?
5. The highest growth in hourly wages?
6. The lowest Misery Index (inflation plus unemployment)?
7. The lowest inflation?
8. The largest reduction in the deficit?

I will tell you in a few.....I would like to give you a chance to answer.

[edit on 24-10-2008 by Grafilthy]

Originally posted by Grafilthy
reply to post by sos37

 

In fact, it was John McCain in May of 2006 who addressed Congress that Freddie and Fannie needed to be reeled back in, but the Democrat-led Congress at that point ignored him.

The 2006 US House election was held on November 7, 2006 to elect members to the United States House of Representatives.

7 month too early. Good try on passing the buck.

Uh, yeah. You do know that John McCain is a Senator? Perhaps I should have said he addressed the Senate instead of Congress (both houses). Want me to post the video?

Originally posted by Grafilthy
I got one for you....

Answer these questions.....the tell me who knows how to run an economy.

Which president produced:
1. The highest growth in the gross domestic product?
2. The highest growth in jobs?
3. The biggest increase in personal disposable income after taxes?
4. The highest growth in industrial production?
5. The highest growth in hourly wages?
6. The lowest Misery Index (inflation plus unemployment)?
7. The lowest inflation?
8. The largest reduction in the deficit?

I will tell you in a few.....I would like to give you a chance to answer.

[edit on 24-10-2008 by Grafilthy]

If you're alluding to Clinton, you can also thank him for the single largest tax increase in history to make these things happen. Let me ask you this - why does this even matter? Historically speaking, the economy and the times have significantly changed, even in the last 10 years - things are different. Do you really expect the economy to get back to where it once was? Obama is trying to impose a disguised welfare plan on America, telling us that it's the best thing since sliced bread.

Did you even read this Wall Street Journal article that analyzed Obama's tax plan? Even they called is a welfare plan!

online.wsj.com...

reply to post by sos37


Point is...you are using "Democrat led Congress" to pass the blame. They are all at fault. INCLUDING the REPUBLICAN led Congress who was actually in power at the time. Just wanted to point that out.

And the answers to today's episode of: "Are you smarter than a Liberal"...

The answers:
1. Harry Truman,
2. Bill Clinton,
3. Lyndon Johnson,
4. John F. Kennedy,
5. Johnson,
6. Truman,
7. Truman,
8. Clinton.

In the Economic Sweepstakes, Democratic presidents trounce Republicans eight times out of eight!

If this isn’t enough to destroy the myth that the economy has performed better under Republicans, the stock market has also done better under the Democrats. The Dow Jones Industrial Average during the 20th century has risen 7.3 percent on average per year under Republican presidents. Under Democrats, it rose 10.3 percent – which means investors gained a whopping 41 percent more. And the stock market declined further during George W’s two terms. Moreover, since World War II, Democratic presidents have increased the national debt by an average of 3.7 percent per year and Republican presidents have increased it an average of 10.1 percent. During the same time period, Democratic presidents produced, on average, an unemployment rate of 4.8 percent; Republicans, 6.3 percent. That’s the historical record.

Good article on why America trusts Democrats on Economic issues...

Originally posted by Grafilthy
reply to post by sos37

 

Point is...you are using "Democrat led Congress" to pass the blame. They are all at fault. INCLUDING the REPUBLICAN led Congress who was actually in power at the time. Just wanted to point that out.

And the answers to today's episode of: "Are you smarter than a Liberal"...

The answers:
1. Harry Truman,
2. Bill Clinton,
3. Lyndon Johnson,
4. John F. Kennedy,
5. Johnson,
6. Truman,
7. Truman,
8. Clinton.

In the Economic Sweepstakes, Democratic presidents trounce Republicans eight times out of eight!

If this isn’t enough to destroy the myth that the economy has performed better under Republicans, the stock market has also done better under the Democrats. The Dow Jones Industrial Average during the 20th century has risen 7.3 percent on average per year under Republican presidents. Under Democrats, it rose 10.3 percent – which means investors gained a whopping 41 percent more. And the stock market declined further during George W’s two terms. Moreover, since World War II, Democratic presidents have increased the national debt by an average of 3.7 percent per year and Republican presidents have increased it an average of 10.1 percent. During the same time period, Democratic presidents produced, on average, an unemployment rate of 4.8 percent; Republicans, 6.3 percent. That’s the historical record.

Good article on why America trusts Democrats on Economic issues...

Okay, so let's compromise. I'll stop saying "Democrat led Congress" in terms of passing blame to any one party. I do understand the financial turmoil these past eight years has been a combination effort of both parties. So let's not pin the blame on one party in particular.

Even when funding the war in Iraq, Congress passed these measures after making changes. It's comments like that of

The compromise is we agree that this has been a bi-partisan effort in screwing up the economy.

reply to post by sos37

Okay, so let's compromise. I'll stop saying "Democrat led Congress" in terms of passing blame to any one party. I do understand the financial turmoil these past eight years has been a combination effort of both parties. So let's not pin the blame on one party in particular.

Even when funding the war in Iraq, Congress passed these measures after making changes. It's comments like that of

The compromise is we agree that this has been a bi-partisan effort in screwing up the economy.

Agreed. And I commend you for your post.

These fatcats don't care one hoot about you or I or anyone in between. The only thing they care about is getting elected or keeping their seat. They could care less if you or I just lost our life savings or retirement (I just lost 40% of my 401k)....or our houses.....

What we need is a purge of government.
We need term limits in congress.
We need to make sure they are not profiting by corruption (lobbyists).

I think there is plenty we can agree on.....we just have to find common ground. Corruption in our government is something we ALL agree on...

I say we start there.




[edit on 24-10-2008 by Grafilthy]