Obama Rally Reach 22% Recover from Bear Market

[Elphaba]

Obama Rally Reaches 22% in Recovery From Bear Market (Update3)

March 24 (Bloomberg) -- The Standard & Poor’s 500 Index took seven weeks to fall 20 percent and give President Barack Obama a bear market. To reach a bull market, it needed 10 days.

U.S. stocks staged their biggest rally in five months yesterday, led by an 18 percent surge in financial companies, on speculation the administration’s plan to rid banks of toxic assets will revive the economy. The gain pushed the S&P 500’s increase since sinking to a 12-year low on March 9 to 22 percent, the fastest two-week advance since 1938.

Obama Rally Reaches 22% in Recovery From Bear Market (Update3) - Bloomberg.com

Will this continue? Obviously I have no idea. But since this has become the anti-Obama forum, (edit: the anti-anything-that-isn't-ultra-right-wing forum.) I thought I'd post some positive news. I hope it lasts.

Elphaba

Edited March 27, 2009 by Elphaba

[FunkyTown]

It's not an anti-Obama forum, Phabs. It's an anti-anything-that-isn't-ultra-right-wing forum.

[Elphaba]

It's not an anti-Obama forum, Phabs. It's an anti-anything-that-isn't-ultra-right-wing forum.

Duly noted.

Phabs

[Hemidakota]

Obama Rally Reaches 22% in Recovery From Bear Market (Update3)

March 24 (Bloomberg) -- The Standard & Poor’s 500 Index took seven weeks to fall 20 percent and give President Barack Obama a bear market. To reach a bull market, it needed 10 days.

U.S. stocks staged their biggest rally in five months yesterday, led by an 18 percent surge in financial companies, on speculation the administration’s plan to rid banks of toxic assets will revive the economy. The gain pushed the S&P 500’s increase since sinking to a 12-year low on March 9 to 22 percent, the fastest two-week advance since 1938.

Obama Rally Reaches 22% in Recovery From Bear Market (Update3) - Bloomberg.com

Will this continue? Obviously I have no idea. But since this has become the anti-Obama forum, (edit: the anti-anything-that-isn't-ultra-right-wing forum.) I thought I'd post some positive news. I hope it lasts.

Elphaba

Elpha seeing your positive nature, the market will crumble and fail. As I told a few who asked, do not buy a home until the economy fully recovers ensuring you have a stable job. Until that happens, I would watch the consumer confidence vice what the President says or what is happening in the stock market. These people are not in touch with reality.

I am still laughing at the energy stocks when demands has waned since last year and not recovered but the day traders are saying differently,

[Palerider]

Elphaba....it went from the anti Bush who caused all the calamaties and problems and whatever else we can blame him for to the Anti-Obama forum......

[FunkyTown]

Elphaba....it went from the anti Bush who caused all the calamaties and problems and whatever else we can blame him for to the Anti-Obama forum......

I respectfully disagree. There is far more anti-Obama sentiment than anti-Bush sentiment. Do a search for 'Bush' and do a search for 'Obama'.

Obama has been in power for just a few months, Bush was in power for 8 years.

[rameumptom]

Elphaba, it has nothing much to do with President Obama. It has to do with an ingrained culture that is built upon incessant greed. We've had other bubbles that have burst, with a short period of caution, followed by stupid and relentless greed. S&Ls, junk bonds, tech market, housing market, and now we're going into a money bubble.

It will help for a while, but eventually this huge infusion of money must be paid for. There aren't many ways to do that. Congress can cook the books for only so long, before we'll be like Enron - out of cash and no other way to hide the problems.

Only true fiscal responsibility is going to fix this problem. Instead, America has sought to lighten recessions by manipulating the system and creating new financial bubbles. Eventually, there will be no more bubbles to grow or burst. At that point, we'll have a huge financial crunch, and most Americans will not be able to manage it. Most have forgotten self reliance, financial independence, honesty, hard work, etc. All are seeking an easy life, using credit as a form of income, and finding happiness in material goods.

Pres Obama is only doing what previous presidents have done to salvage our nation from an economic downturn. Sadly, this one is bigger than previous ones, and the risks are much bigger. Spending trillions of dollars means risking America's AAA loan rate, putting us in debt to tyrannical governments (like China and Russia), and turning us into a third world nation with nukes (aka Russia 1991).

Meanwhile, our energy independence capabilities are stunted by Diane Feinstein and others, who refuse to let us build solar power plants in the Mojave desert, or wind power plants in the midwest (it harms the desert tortoise). Forget saving the environment, our planet and our nation's self reliance; as long as we can save a tortoise's home. Meanwhile, we'll keep using Saudi oil to pollute our environment.

Nancy Pelosi drove billions of dollars of pork into the budget, twisting the things Pres Obama wanted to accomplish, so she could create a larger European social state here. She's our modern day Nero, fiddling while the nation is burning. I hated Pres Bush's deficit spending. That said, he's an amateur compared to what is happening in Washington DC and New York (Fed) right now. The CBO and OMB have told us that we cannot sustain such levels of deficit spending, but Congress is forging ahead anyway.

Such stupidity in light of everything going on, is just further evidence that Congress is not serious about saving our nation in the long term. You will see us having rioting in the streets, as seen in France, someday.

I see today's Congress akin to the French Congress during their revolution. It began with all groups represented. But mob and media combined to destroy the right. Then they destroyed the moderates, causing Lafayette to flee France. Finally, they collapsed into chaos, kangaroo courts, and mass murder everywhere. Only a return to a dictatorship could save them.

Let's see if history repeats itself, because Congress is too smug to believe they can't destroy America by their actions.

[FunkyTown]

Wow, Rame. That was a very well thought out and erudite rebuttal. Thank you.

[a-train]

U.S. stocks staged their biggest rally in five months yesterday...

DEAD CAT BOUNCE.

That biggest rallies are always in bear runs.

-a-train

[Hemidakota]

I respectfully disagree. There is far more anti-Obama sentiment than anti-Bush sentiment. Do a search for 'Bush' and do a search for 'Obama'.

Obama has been in power for just a few months, Bush was in power for 8 years.

Exception is our wonderful CNN network....

[FunkyTown]

Exception is our wonderful CNN network....

I was referring to this particular forum. Most people still have hope that Obama can do something. On this forum, despite Bush having been in power for 8 years and Obama being in power for a couple of months, there have been a lot of Obama posts. In fact, there are 20 pages of posts that include the word 'Bush' and 11 that include the word 'Obama'. And there are 8 pages of posts that started out with the word 'Obama' and ended up including the word 'Bush'.

That means that there have been 12 pages of Bush-related news and 11 pages of Obama related news.

And Obama has been in power for only a few months.

This should give any thinking person pause as it shows a clear bias on this board. Have we become more Political? No. We simply have a lot of members who hate anything that isn't ultra-right wing. That's cause for concern.

[Hemidakota]

If I was here in 2003, I would be 'beaten up' the Bush Administration.

[LittleWyvern]

Aw, I should have just read the OP. First I was feeling optimistic, and now after reading the replies I'm feeling depressed.

[bytor2112]

The markets respond to good news. Sales of existing homes were up 5.1%......probably due to a lot of short sales, but still good news. Sales of new homes are up and though I believe TARP and the "Stimulus" bill and the AIG bailout is absolutely whacked, I am glad that the Treasury is beginning to address the issue of the bad debt....even if the idea sucks (and I am not saying it does) at least the market has a bit of certainty for a change. Investor confidence is beginning to return, I see it in my own private practice and truly, there are a lot of great opportunities in the capital markets.

I hope President Obama body checks Pelosi and Reed before our country is bankrupt and inflation is as bad or worse that it was in the late 70's. It is pretty bad when we are being criticized for our spending habits by European socialists. It does appear that some Democrats are coming around.....I guess they are part of the right wing conspiracy also, or maybe they love their country more than their party....that would be refreshing.

[Dravin]

And Obama has been in power for only a few months.

This should give any thinking person pause as it shows a clear bias on this board. Have we become more Political? No. We simply have a lot of members who hate anything that isn't ultra-right wing. That's cause for concern.

Something to consider is that generally speak the issues Obama is facing are impacting people more directly (well, economic issues at least) than 'teh War on Terror' and the like, they effect people, especially if you or a family member is in the armed services or what have you but people tend to react most when their jobs and homes are on the line rather than other peoples (or even their own) rights being eroded or lives being lost.

Now I've never been here when Bush was in office and a right wing bias wouldn't surprise me, Mormons as a lot tend more to the conservative (at least in the US) than I imagine the norm. Just offering this up as food for thought not as a counter argument.

[bytor2112]

This should give any thinking person pause as it shows a clear bias on this board. Have we become more Political? No. We simply have a lot of members who hate anything that isn't ultra-right wing. That's cause for concern.

Personally, I hate anything that I view as bad for our country. D_ _ _ the party and politicians. It's time for politicians to become statesmen and to start putting the interest of America ahead of their political ideology and agenda.

[FunkyTown]

Personally, I hate anything that I view as bad for our country. D_ _ _ the party and politicians. It's time for politicians to become statesmen and to start putting the interest of America ahead of their political ideology and agenda.

I agree wholeheartedly, Bytor. As a moderate, I interestingly voted Green Party in the last election in Canada - Not because of a rather radical environmental policy, but because of their economic policy: They proposed a flat tax, the abolishment of income tax and an economic policy that concentrated funding towards education and health care that concentrated on simplifying government programs and reducing bureaucracy.

Considering their liberal social outlook, seeing them take a conservative fiscal outlook surprised me.

However, voting in Canada is very different. One votes for a local candidate and the local candidates vote in the Prime Minister. This results in a wider variety of parties because locals can oftentimes overcome party biases. There are still people who only vote Liberal (The Canadian Conservative party), Conservative(A party who is basically exactly the same as the Liberal party) or New Democrat(A more socialist platform that's very pro-labour), but a lot of people will also vote for whoever speaks most directly to their concerns.

I weep when the Canadian 'Hippie Party' has to be the one to reign in spending as per:

Green Party of Canada | Greens ask ‘Where is the Restraint?’ as Conservatives Triple Budget for AECL | www.greenparty.ca

[Elphaba]

Elphaba, it has nothing much to do with President Obama. It has to do with an ingrained culture that is built upon incessant greed. We've had other bubbles that have burst, with a short period of caution, followed by stupid and relentless greed. S&Ls, junk bonds, tech market, housing market, and now we're going into a money bubble.

It will help for a while, but eventually this huge infusion of money must be paid for. There aren't many ways to do that. Congress can cook the books for only so long, before we'll be like Enron - out of cash and no other way to hide the problems. Only true fiscal responsibility is going to fix this problem. Instead, America has sought to lighten recessions by manipulating the system and creating new financial bubbles. Eventually, there will be no more bubbles to grow or burst. At that point, we'll have a huge financial crunch, and most Americans will not be able to manage it. Most have forgotten self reliance, financial independence, honesty, hard work, etc. All are seeking an easy life, using credit as a form of income, and finding happiness

<snip>

Let's see if history repeats itself, because Congress is too smug to believe they can't destroy America by their actions.

Whatever.

Obama could put every American back into good jobs, significantly reduce the deficit, bring our soldiers home, catch bin Laden, and cure cancer as well.

You'd still find something to criticize him for.

Elphaba

Edited March 27, 2009 by Elphaba

[Just_A_Guy]

Obama could put every American back into good jobs, significantly reduce the deficit, bring our soldiers home, catch bin Laden, and cure cancer as well.

Yes; I think I heard something similar back during the campaign.

[bytor2112]

Whatever.

Obama could put every American back into good jobs, significantly reduce the deficit, bring our soldiers home, catch bin Laden, and cure cancer as well.

You'd still find something to criticize him for.

Elphaba

Presidents don't create jobs....unless they expand the size of government. The economy and free enterprise creates jobs despite poor fiscal and more rapidly do to sound fiscal policy.

He COULD have significantly reduced the deficit, but chose instead to spend our country into dangerously unsustainable debt.

He could withdraw all the troops....why doesn't he? After all he was opposed to the war and his buddies in Congress said publicly that the war in Iraq was lost. (Sen. Reid)

As for Bin Ladin and cancer cures.....I'd rather have the cancer cure.

[Just_A_Guy]

In other news: Limbaugh's Ratings Spike Amid Dem Attacks.

Something like Mormonism, it appears that you can only kick Rush upstairs. What's the old proverb about wrestling a pig?

[FunkyTown]

Presidents don't create jobs....unless they expand the size of government. The economy and free enterprise creates jobs despite poor fiscal and more rapidly do to sound fiscal policy.

He COULD have significantly reduced the deficit, but chose instead to spend our country into dangerously unsustainable debt.

He could withdraw all the troops....why doesn't he? After all he was opposed to the war and his buddies in Congress said publicly that the war in Iraq was lost. (Sen. Reid)

As for Bin Ladin and cancer cures.....I'd rather have the cancer cure.

All of these points are legitimate gripes. Deficit spending is ridiculous and, when it gets to a sizeable portion of the GDP, it is a horrible idea. What I don't understand, Bytor, is why the US government is determined to do this despite the collapse of Iceland's economy due to their deficit spending.

It just seems ridiculous.

[Elphaba]

Presidents don't create jobs....unless they expand the size of government. The economy and free enterprise creates jobs despite poor fiscal and more rapidly do to sound fiscal policy.

He COULD have significantly reduced the deficit, but chose instead to spend our country into dangerously unsustainable debt.

He could withdraw all the troops....why doesn't he? After all he was opposed to the war and his buddies in Congress said publicly that the war in Iraq was lost. (Sen. Reid)

As for Bin Ladin and cancer cures.....I'd rather have the cancer cure.

You need to get a sense of humor, mate!

Elph

[bytor2112]

All of these points are legitimate gripes. Deficit spending is ridiculous and, when it gets to a sizeable portion of the GDP, it is a horrible idea. What I don't understand, Bytor, is why the US government is determined to do this despite the collapse of Iceland's economy due to their deficit spending.

It just seems ridiculous.

Yeah, it makes me scratch my head as well. At the risk of sounding like a conspiracy nut, even if Obama wants to move the U.S. toward a more European style Socialist system, surely he must recognize the danger of this type of spending. Maybe he is just getting seriously flawed advice or maybe he is ignoring sound advice....probably a bit of both.

[Elphaba]

In other news: Limbaugh's Ratings Spike Amid Dem Attacks.

Something like Mormonism, it appears that you can only kick Rush upstairs. What's the old proverb about wrestling a pig?

No, it's lipstick on a pig, and Limbabwe's color is "bloviating boor."

Elphaba