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Do you agree with BHO, the DOW is just a "tracking poll"?

Original post made by Perspective on Mar 5, 2009

Per our President Obama, the DOW is little more than a poll, and watching it would cause us to lose sight of the long term goals.

BHO QUOTE "The stock market is sort of like a tracking poll in politics. It bobs up and down day-to-day," Obama said. "And if you spend all your time worrying about that, then you're probably going to get the long-term strategy wrong."

Ok..hmmm..Do you agree? If you do, please read this by Chadwick, of "Slate" ( known for its strong left-wing bias, FYI)

Web Link

"A fall in the Dow means a fall in its component stocks' share prices; a fall in the stock prices means less money for shareholders; less money for shareholders means less money for the company; less money for the company means less money to give to employees; less money for the employees means fewer jobs; fewer jobs mean layoffs."

No, Sir Obama, again you show your absolute lack of comprehension of things economic and reveal why our economy is going down the toilet. Even those who "believed in you", putting their hands over their ears and yelling "lalalalalalala" whenever we tried to call a warning..even they are waking up.

Comments (18)

Posted by Perspective, a resident of Midtown
on Mar 5, 2009 at 10:08 am

Oh GREAT! I just heard on the news that Obama is hosting a "Health Care Summit" today to fix our health care! Great! I guess the good news is that maybe that means he will stop messing with our economy, leaving us to lick our wounds and figure out how toa adapt.

But, now that he has finished destroying our economy with classic left-wing solutions, he is moving on to applying the left-wing solutions our health care! I can't wait to have the government take over our health care and do the same great job it has done with our economy, MedicAid and Social Security.

Better not get sick ...

Posted by Perspective, a resident of Midtown
on Mar 5, 2009 at 10:16 am

Good God Almighty: Is there any end to the panic-inducing statements of our incredibly bright Democrat leaders? They just never end, do they? It is SO persistent and repetitive, I am starting to wonder if they are TRYING to destroy the economy for the pleasure of the power, and for emasculating the population and making us dependent.

If there is now a run on banks, it is because our esteemed FDIC Chair, Sheila Bair, has basically said that our esteemed government, which has enough money to pay Hamas led Gaza to build stuff, and wants to send more money to the UN for worldwide assistance, may not have enough money to back our banks.

"FDIC Chairman Sheila Bair warns the agency's funds could be quickly used up in a flurry of bank failures.

This week Bair warned that "a large number" of bank failures may occur through 2010 because of "rapidly deteriorating economic conditions." That makes it necessary, she said, for the FDIC to levy a one-time fee on member banks.

"Without substantial amounts of additional assessment revenue in the near future, current projections indicate that the fund balance will approach zero or even become negative," Bair said in a letter to the Independent Community Bankers of America."

Posted by Paul, a resident of Downtown North
on Mar 5, 2009 at 10:48 am

Got a point there, P: neither Stalin nor Cheney would ever permit such candor. Better get behind Obama, though. He's got one year to undo the fruits of 20 years of Republican ideology, or we're toast.

Posted by geez, a resident of Meadow Park
on Mar 5, 2009 at 11:55 am

Obama is an idiot.
Oh yea, let's give GM billions more. Right, like I really understand Obama's logic.

If Obama wasn't doing his job, would voters re-elect them? GM wasn't running their business right, yet Obama wants to throw money at them. It's like giving money to a stripper.

Posted by Perspective, a resident of Midtown
on Mar 5, 2009 at 12:40 pm

Tell you what..let's just apply the Democrat Congress and White House oversight standards to the results brought about by the Dems. How about a private sector audit to make sure they are getting the results they are saying they are trying for?


Vote wiser next time. Every single result we are seeing now was predicted, but the media most people listen to and read hid it from you.

Unfortunately, we are going to pay and pay for years, even after we get back our country and start throwing out the bad policies. Let's hope that next time we use our power as well as these guys are.

Posted by geez, a resident of Meadow Park
on Mar 5, 2009 at 1:10 pm

Barney Frank wants to prosecute those who got us into this mess. see here: Web Link. LOL!

He might as well go and prosecute all of America. Everyone was in on this debt bubble. Just look at how much credit card debt you have. Did you try to cash in on the real estate bubble? Look at the Weekly articles about how great Palo Alto real estate has been holding up. Look at the Palo Alto City council approving building permits after building permits. Look around you at all the new McMansions that went up in Palo Alto alone.

Posted by deflation spiral, a resident of Barron Park
on Mar 5, 2009 at 2:44 pm

And former Countrywide execs buying up subprime loans from government for pennies on the dollar and profiting. Web Link.

This is the way it ought to have been done in the first place. Let the private sector do the buying, it's the only way. The government should never have gotten involved.

Mark my words. The government should never have bailed anyone out. This is going to haunt taxpayers for years to come.

Posted by Perspective, a resident of Midtown
on Mar 6, 2009 at 7:13 am

Frank needs to look in the mirror and prosecute himself.

And Dodd.

And Raines.

Where is the 9/11 Commission on the economic meltdown?????? It ain't gonna happen cuz the Dems KNOW what caused this and are doing everything possible to smoke and mirror their way into blaming everyone else for the meltdown AND THE CONTINUATION of making it worse by the day.

I can't wait for the propoganda machines that brought us this horror to all go bankrupt..maybe the next time we will get journalism that bothers to bring us even half the story on a Dem candidate, instead of a full-court press of lies and inuendo on a Repub VP candidate.

In the meantime, I see the formerly somewhat balanced SJ Mercury News ran a front page editorial by the failing NYT on how wonderful the Stimulus Bill is...I am guessing that it isn't going to last long now that it has decided to follow in the leading footsteps of the NYT, LA TIMES and the SF Chron

Posted by Perspective, a resident of Midtown
on Mar 10, 2009 at 6:54 pm

Is yesterday the day we can circle on the calendar as the "bottom" of the collapse? Today the DOW was up 350..are we stabilizing out, maybe even going to correct upward a bit?

Or was this just a correction of a bit of overpanic?


Posted by Sharon, a resident of Midtown
on Mar 10, 2009 at 6:57 pm

It is a dead cat bounce-- unfortunately--- it will take 18 months before we see the light.

Posted by Perspective, a resident of Midtown
on Mar 11, 2009 at 1:18 pm

Yes, Sharon, my good sense is telling me it is simply a bounce at the bottom of the stairs, but I can be grateful that we have probably hit the basement.

I tend to agree that we will have to wait. Until we throw out the people who have voted for every bad policy that has caused and expanded this meltdown, there is almost no hope for an actual recovery. 20 months more!

Posted by Greg, a resident of Downtown North
on Mar 12, 2009 at 10:15 am

The dead cat is bouncing again today.

Posted by Greg, a resident of Downtown North
on Mar 12, 2009 at 11:28 am

DJIA is up 600 points in 3 days. Who's selling short right now?

Posted by Perspective, a resident of Midtown
on Mar 12, 2009 at 3:39 pm

All I can say is I really, really hope I have been wrong and that we are now going to zoom back to our Bush years prosperity...

though I have a strong feeling we are just stabilizing.

for which I am very grateful!

Posted by resident, a resident of Adobe-Meadows
on Mar 12, 2009 at 3:48 pm

Perspective, everyone hates the rich. It's become almost hip to say you're poor.

We also have a President who doesn't believe in wealth, but believes in taking from the wealthy. I can hardly see the Dow going high when Obama plans to tax all of it and give it to strippers like AIG, GM, Fannie Mae, Freddie Mac.

Posted by Madeoff, a resident of Downtown North
on Mar 13, 2009 at 1:06 pm

Looks like the dead cat is bouncing again today.

No, we will not be returning to the Bush days of borrow-to-the-hilt, lever-up, and ponzi scheming. The economy of the future will have to be built on quality, efficiency, and productivity.

Posted by Madeoff, a resident of Downtown North
on Mar 13, 2009 at 6:11 pm

For those of you who want to know how the stock market really works, watch this video with Jim Cramer:
Web Link

Posted by Perspective, a resident of Midtown
on Mar 14, 2009 at 7:10 am

I agree with resident, it is now popular in the White House and Congress to "hate the rich". Until we have a President and Congress that doesn't "hate the rich", the rich will become less rich, the super-rich will withdraw their financial support of various free-enterprises, the middle class won't become rich, the poor will not have as much chance to rise above poor, the unemployed will grow...

In the meantime, maybe we are very fortunate and the financial "water level" has stabilized a bit and we all at least know what the bottom looks like. I hope.

Maybe we'll even be extremely lucky and we will make it back to 8,000 on the DOW by the time the Congressional elections roll around. As a lot of Democrats in Congress are starting to realize, this doesn't bode well for party power, but I don't care who stays in power as long as the rich suffer, do you? I mean, really, I want and economy of the future built on quality, efficiency, and productivity, and of course that is best done through Federal government intervention and planning, not private enterprise, as proven by the great results of the Community Reinvestment Act, FEMA, Social Security, MediCal, Public Education, the DMV, Medicare, Welfare, Disability payments, Amtrak, etc. I really want the rest of the nation's economy to be like these programs, ..better yet, let's do it even more than France, about...CUBA?

Ya know, once a person is in government, all greed and desire for power leave him or her, and he is just in it "for the people", of course. There is so much less damage a government official can do to innocent people than a private business person can do!

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