One Year Later: The Obama Recovery Illustrated

[jefferson_dem]

http://money.cnn.com/2010/03/07/markets/sunday_lookahead/index.htm

CAVEAT: We know the markets reflect only one piece of the economic puzzle. The fact that we have seen huge positive progress there does not mean everything is dandy for everyone. By this time next year, things will be much better still.... and we'll be gearing up for Obama's "Morning Again in America" re-election campaign. :)

[Clio the Leo]

1. Remember the olden days when the press accused him of causing the DOW to plummet?

Ahh... time flies.

[jefferson_dem]

3. Oh, I remember.

That was soon after Phil Gramm said we were amidst a "mental recession."

[NJmaverick]

2. but... but... but... I keep hearing that Obama is a terrible President

That has done NOTHING right. I don't understand what these facts mean.:sarcasm:

[progressoid]

4. "reflect only one piece of the economic puzzle"

A piece that doesn't help me or most of Ameica. Great if you are a stock holder. My IRAs and 401k were wiped out a few years ago.

Oh, I know I should just be patient, some of that will trickle down to me soon.

[dmallind]

5. Your IRAs and 401K were wiped out how?

Did you have all of it in one stock?

Mine go up and down. Same as those of most people with even vaguely appropriate diversification. Think I'm about 10% below max right now so did a bit better than index averages. Up more than 40% for the year for sure. Glad I put more into it when people were overreacting last Spring.

[progressoid]

6. Bernie Madoff

*kidding*

Actually they weren't much to begin with. But after 9/11, I needed cash fast and a loan wasn't an option. I had just started a new biz that slowed to a crawl after the attacks. So to pay the mortgage, eat, shoes for the kids etc., I had to cash in the IRAs and the few bucks left in the 401k. Business has is slowly recovering, but not to pre-9/11 levels. Still don't have any disposable income to invest.

[dmallind]

7. Ah that's different.

Withdrawing from your IRA and having them wiped out aren't the same in my book. Anybody who says they can time markets reliably is lying, but getting out after any sudden and major drop driven by external factors is only a good idea in emergencies like you had. If it comes to a choice between sound investing and eviction then I'll keep the house thanks very much. If it's just a matter of getting out because you want to, then that's a different story - absolutely the worst time to do that.

[slipslidingaway]

8. No wonder the chart is wrong, unless people think the inauguration

was in March.

:evilgrin:

Title of the article ...

Bears vs. bulls as anniversary looms


1/20/09

Open - 8291

Close - 7949

[jefferson_dem]

9. Surely...

Obama shouldn't be given credit for a 4000 point pop in the markets that happened within two years of him taking office...because the recovery didn't start on Inauguration Day.

[slipslidingaway]

12. The chart looked strange to me and I wondered why the low from March

was being used as opposed to the date in January.

The DOW dropped over 7500 points in less than 2 years, sure Obama gets some credit, but you can also expect a rally when there is a sudden drop.

[Puzzler]

10. The Dow is up...

... "nothing to see here, move on..." from the MSM.

[brentspeak]

11. Dumb Thread of the Day

Stocks move up when workers get laid-off. Stocks move up when news of an Obama White House/Big Pharma secret deal comes to light. Stocks move up when news of yet another job-killing "free trade" pact is just around the corner. Stocks move up when it becomes clear that there won't be a strong public option in any HCR bill. Stocks move up when banks get bailed out.

"does not mean everything is dandy for everyone. "

That would be the Understatement of the Year.

[donheld]

13. Stock market is up so all is peachy -- How totally stupid.

[w4rma]

14. The stock market going up probably means that Main Street is hurting worse than ever.

Considering that everything that Wall Street wants, now, hurts Main Street.

[IndianaGreen]

15. I am not part of the investor class. The market means nothing to me!

There are millions like me!