Thursday, March 5, 2009

So is Obama helping or hurting?

Yesterday the Market opened up surprisingly well and kept going up due to the news of Obama’s foreclosure plan. This news comes on the heels of an article (an opinion not factual) by the Wall St Journal sayin that Obama’s polices have hurt the economy even more with the Dow dippin to the lowest point since ’97. First problem with both articles is that you can’t credit Obama for anythin that happens in the Market…well kinda sorta grey area. The Market is based on speculation, so if the people think the economy is gonna get better, then they’ll invest more and the Market will increase. But if they remain fearful, then it will continue on its downward spiral. So when Obama injects hope into people’s lives, the Market goes up. But to say his policies have had a direct impact on the downward spiral is ridiculous. Second problem with the WSJ (besides the fact it’s owned by the same news group of NY Post and Fox News) is the fact that you would blame the current state of the economy on a man who has been on the job for 5 weeks. If the stimulus bill had somethin along the lines of selling auto makers to foreign companies, then yes, I could see that negatively impacting the Market. But the man’s policies haven’t even been started yet, how the fuck can he be to blame? Sensational journalism at its WORST! So many people want to see him fail. Which is kinda stupid because the last President failed and look where it left us…now you want another President to fail? The ignorant masses of America.


  1. You answered your own question, the market is predictive, it doesn't take the actual implementation for people to act, all it takes is the intent.

    Obama's "plans" scare the shit out of economists and investors, and they are scrambling to protect their wealth, so yes they act proactively.

  2. Guess you are right about that, I misread the article.