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The Markets Voted: No Confidence In Obama´s Jobs Plan

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posted on Sep, 10 2011 @ 12:15 AM
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It would appear that President Obama’s speech last night was not that well received judging by the action of the market Friday.

So far, President Obama’s words have not helped the markets in the past, it seems.

This was probably one of the most important speeches he will ever give and could mean the difference between keeping or losing his own job next year. The very negative reaction of the market must be a concern.

But it could be that the market doesn´t believe that Mr. Obama´s proposals will pass Congress. Maybe that is the real reason for the sell-off.
edit on 10-9-2011 by galdur because: (no reason given)




posted on Sep, 10 2011 @ 12:47 AM
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reply to post by galdur
 


MAYBE no one takes Obama seriously anymore because he talks the talk and produces NOTHING!



posted on Sep, 10 2011 @ 12:57 AM
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That's because anyone with half a clue can tell that Obama's speech was a load of hot air

If you really want to fix the problem in America and get the jobs back you need to openly discuss how idiotic these free trade agreements are that have led to American jobs being shipped out of the country.

What killed me last night was when the fool started talking about making trade agreements with countries that the same companies that have shipped jobs out of America can go to for cheap slave labor.

Until you hear someone with considerable clout talking about doing away with the free trade agreements that have gutted the American workforce, you can safely assume that congress and the ones that pull the strings have no interest in bringing jobs back in America.

The jobs will come back when the populace is broken, and willing to work for .75 an hr in sweat shop factories.

Until then, if you need a job, head over to McDonalds, or UPS.



posted on Sep, 10 2011 @ 01:08 AM
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I love when people think that just because two things happened concurrently, they are related. The reason for the crash was the European crisis, not obama's speech. Obama is an idiot, but so are the people who blame the Fridays crash on him, when there were clearly causes for that crash. It sort of reminds me of what fox news said about the markets today, which was that obama's speech caused it...... Pure factless propaganda. Sickening.



posted on Sep, 10 2011 @ 01:19 AM
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The markets don't love the addition of seat belts in cars because it decreases profits...i don't think you'd ask for less regulation of car safety.

The market is largely run off emotion.




Originally posted by galdur
It would appear that President Obama’s speech last night was not that well received judging by the action of the market Friday.

So far, President Obama’s words have not helped the markets in the past, it seems.

This was probably one of the most important speeches he will ever give and could mean the difference between keeping or losing his own job next year. The very negative reaction of the market must be a concern.

But it could be that the market doesn´t believe that Mr. Obama´s proposals will pass Congress. Maybe that is the real reason for the sell-off.
edit on 10-9-2011 by galdur because: (no reason given)



posted on Sep, 10 2011 @ 01:21 AM
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reply to post by galdur
 


Sure. Obama said the words "Pass this bill" 15 times. Most of the times were followed by "right now". Why would that make anyone suspicious of sneakiness and insincerity?

I am so tired of that man, its not even funny.

Im sorry, I should correct that statement.

Im so tired of partisan politics, its not even funny.



posted on Sep, 10 2011 @ 01:24 AM
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reply to post by KevinB
 

Bingo! I think you're right. I'm still amused to see headlines stating "Markets dive after Obama gives speech"

Earlier in the day I saw "Markets plunge after some EU guy resigned". They'll say any story to explain the market movement for the day. Rarely does the main media talk about the real news about why markets moved in a certain manner. Well CNBC might explain things a whole lot better.

Speaking about Obama though, I did think he did a poor job. His speech sounded more like the same ol same ol that didn't work during the debt ceiling crisis. He said he wanted to raise taxes and reform or cut entitlement programs. I read someone lost count on the number of times he said the word tax at 100. I can imagine all the senior citizens getting riled up at Obama thinking he wants to cut out everything they are getting. I can imagine everyone else thinking his tax increases will be using the typical Obama installment plan. Rich first, middle class next, then the poor. Then increasing taxes on oil and gas companies will make them pass along the costs to the consumer. He doesn't know how to generate jobs in my opinion. His agencies are running amuck stopping business from wanting to create jobs here. Just look at how the labor unions are trying to stop Boeing from keeping jobs in the US in South Carolina. They likely would have no law suit if Boeing had just built a factory overseas. Obama's drilling ban is keeping more jobs away and letting foreign competitors get extra work.



posted on Sep, 10 2011 @ 01:25 AM
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reply to post by KevinB
 


True, but usually, regardless of how Europe fairs, if Bernake so much as breaks wind the markets stabilize. A big speech by the President in a specially called joint session would normally buoy the markets. It didn't.



posted on Sep, 10 2011 @ 01:27 AM
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There is no job plan its smoke and mirrors while the big wigs try to find a solution to the problem. Which in fact lies solely with us on an individual basis. The economy and the politics surrounding us in this country are a product of the collective mindset we share. It sucks to recognize that its your own personal fault for the mess we are but its true. Obama's policies are a reflection of what we want in America. The state of our economy is what we want collectively as citizens here. Believe it or not.

The reason i say this is because if it wasn't true we would be doing something about it.

If you haven't noticed by now, all they do is give us what we want.



posted on Sep, 10 2011 @ 04:21 PM
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reply to post by onequestion
 


The approval rating of congress is what, 15%, yet 90-95% of them are returned every election. That´s a strange disconnect. Maybe elections are meaningless. It could be that big money has already decided who will "win" the next presidential elections.



posted on Sep, 10 2011 @ 04:45 PM
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The markets aren't based on what any one person says, granted, one person can cause markets to move. In this particular instance there's also the imminent default of Greece in the picture. Obama could announce he's throwing a trillion dollars out of helicopter that is going to fly over the entire USA, and markets still would have dropped.

To get the economy on a more stable track is going to be a monumental task and not one that any mainstream democrat or republican will ever do, I'm not sure anyone COULD with the Federal Reserve still kicking anyway. Instead of biting the bullet and taking responsibility for borrowing the prosperity of our children and our children's children, we'll keep riding the Keynesian train until it finds out what happens when you divide by zero with a nations currency.



posted on Sep, 10 2011 @ 05:09 PM
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reply to post by KevinB
 


I think they were both to blame. The dow futures were up about 37 points just before Obamas speech, and had dropped to -45 by the time he'd finished talking with accelerated selling shortly after the speech.



posted on Sep, 11 2011 @ 04:09 PM
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reply to post by Angry Danish
 


The market can react quite strongly to what one person says.

Case in point, Mr. Buffett´s statement that he´ll invest $5 Billion in Bank of America. This led to a considerable bounce in BAC stock and indeed the rest of the market (since partly reversed though).

Also, this recent statement has undoubtedly had great influence on the market:

“If I have to buy (Treasurys) at a zero percent yield, I will. I don't like it, but we'll do it.“ - Buffett
edit on 11-9-2011 by galdur because: (no reason given)



posted on Sep, 12 2011 @ 07:26 AM
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The weak economy has experienced so many quick-fix sugar highs, it's turning diabetic.

Just looking at another short term political fix, makes markets feel faint.



posted on Sep, 12 2011 @ 10:31 AM
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When the casino market shoots up, no one complains.

When opportunists pulls the plug, regardless when true economic fundamentals are still bright, no one complains.

But when the market falls or goes into near collapse, everyone blame everyone else, espacially corporate shills.

Fact is, the stock markets around the world are only casinos. The middle class just got wise'n up and decided not to be taken for another ride by the super rich elites holding all the chips with their massive funds, and had pulled out enmass from the casinos.

Remember- money don't disappear into thin air. It is either in someone else pocket or hoarded up. For those who have ideas to create better paying jobs through better quality products that will give fair returns to shareholders, now is the time to approach the rich, regardless if americans or ethopians. It's happening worldwide now.

It is not the end, not by a long shot. Humans still have needs to be meet unless they want mass extinction by hunger today. I don't. And I am sure you don't too.



posted on Sep, 12 2011 @ 11:56 AM
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reply to post by SeekerofTruth101
 


Not "only" casinos, although that´s certainly part of it. Markets are first and foremost forward-looking economic indicators.

Currently they´re discounting an extreme deflationary environment which is a result of saturation both in the supply of goods and credit. It will take a few years for both suppliers and consumers to reach equilibrium. Meanwhile the giant wave of technological advances will keep rising and adding to the existing overcapacity and oversupply. So, it´ll be a very important balancing act. It´ll be difficult to create real jobs in this environment so I expect that they´ll mostly stay with the tricks of the last decade - keeping the existing wars going and preferably expanding and trying to defraud through new ones. War is a huge business and also a very convenient unemployment reservoir. That´s where the interests of the government and its corporate owners mesh perfectly.



posted on Sep, 12 2011 @ 02:13 PM
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I would agree with you on the 'giant wave of technological advances will keep rising and adding to the existing overcapacity and oversupply'.

To resolve this problem lays in creating quality products instead of cheap shoddy ones. Already China and India tried with both, in terms of the ipad and car, but no takers despite its insane low prices, for consumers do know that they will probable be paying more later on when those crap break down in down or even kill them, as the Indian cheap Nano car almost murdered occupants by regularly catching fire.

'It´ll be difficult to create real jobs in this environment' - this I will have to disagree. Mankind DO NOT NEED consumer gratifying toys. They have basic needs - food, water, homes, etc. By focusing on such needs, improving on existing biz models, the entreprenuers in the free capitalist market can gain market share, create employment with better wages and fair renumeration to shareholders.

Companies that had fled to China thinking that those corrupt slave states can offer better economy, let them do so. Just treat them as no longer local companies, and be subjected to tariffs and taxes as non- local entities, thus clearing the land, labour and resources to upgrade, upscale and uplift a nation's social economy and economic defense, regardless if it is US or 'to hell with debts'. defaulted Greeks.



posted on Sep, 12 2011 @ 02:55 PM
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reply to post by SeekerofTruth101
 


The situation I described didn´t hit overnight, it has been building up for decades. Desperate terror fables and psychopathic war lies in recent time should be viewed in this light. It´s the mommy of all kicking the can down the road situations. How would you expect a corporate owned political system to provide any social solutions for the benefit of the many ? Hell will freeze over sooner, IMHO.

The American economy is gigantic. It is also very dependent upon war and destruction which take about 40% of federal revenues. That´s staggering especially when you consider that the federal deficit amounts to about 40% of revenues. So, it´s a huge unemployment reservoir.

Nothing is as un-productive as armies of military and security personnel. So you see that the system meets the rising waves of overcapacity by dumping this un-productive labor force into reservoirs of unemployment. It´s a policy that´s doomed to fail obviously. It´s a political system that´s in terminal decay.



posted on Sep, 12 2011 @ 03:27 PM
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I really don't think it would matter what Obama said, in the end the bill has to pass through congress, along with the deficit reduction plans(if any actually appear). The markets don't have any confidence in congress to do anything beyond political grandstanding, and the general public in America feel the same way.

Look at how many times deficit reduction plans have appeared over there, and everytime they are thrown out, even during the debt ceiling debate only a watered down version appeared, and when the automatic stabilisers come into effect, you can bet both sides will try reverse the original bill as quickly as possible to try and save their own parts of spending.

Good luck over there



posted on Sep, 12 2011 @ 05:33 PM
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reply to post by contradictory
 


It´s a system that is set up to fail.

On the one hand you have the baby boomers, which will retire in the millions in coming years, and on the other hand you have the xgeners that are one-third fewer than the former and still supposed to support them - and mired in debt and out of jobs. It´s clearly a demographic collision of gigantic proportions. This demographic catastrophe was very evident 20 years ago. All terror and war tales since should be relegated to the kicking the can down the road dust bin of history - nothing else.
edit on 12-9-2011 by galdur because: (no reason given)




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