Dow Jones Industrial Average down 332.13 points (-4.01%) - January 20, 2009

Discussion in 'Economy' started by xsited1, Jan 20, 2009.

  1. xsited1
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    xsited1 Agent P

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  2. Modbert
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    Modbert Daydream Believer Supporting Member

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  3. AllieBaba
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    I don't think anyone holds out much hope for a big financial boom anytime during Obama's tenure.
     
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  4. xsited1
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    xsited1 Agent P

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  5. Modbert
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    Modbert Daydream Believer Supporting Member

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    Sure, but you also realize that this is perhaps the worst economy we've ever had during the Dow in it's history except for The Great Depression?
     
  6. xsited1
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    xsited1 Agent P

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    Yes. However, I'm surprised the market didn't respond more favorably to Obama's inauguration. Obviously, the confidence level is very low.
     
  7. Modbert
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    Modbert Daydream Believer Supporting Member

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    It's low for other reasons if you read the article. The ensuring 4th quarter reports that are going to be low aren't helping things.

    It's going to take a little while at the very least for Obama to start really fixing the economy.
     
  8. AllieBaba
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    No, it's low because as stupid as most of you believe Americans are, we do have a grasp of the simplest of math...which means nobody has any faith that if you spend $800 billion, and you provide $300 billion in tax breaks, total financial disaster will occur because the MONEY HAS TO COME FROM SOMEWHERE. This is like 3rd grade math.
     
  9. SwingVoter
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    SwingVoter VIP Member

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    unemployment is still 3 pts lower than the early 80s recession, we might get there, but I'd wait before jumping all over the hype
     
  10. Zoomie1980
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    Zoomie1980 Senior Member

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    The DOW or the rest of the global markets don't give a damn who is the US President because the president has no power over the economy.

    The DOW is down because of serious 2009 earning concerns. Nothing more. Investors already know the "stimulus" is going to have no real impact on anything as it doesn't address the core problems behind WHY the economy is contracting.
     

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