Markets Fall, So Do Presidential Polls

[Annie]

All the talk of '2nd Stimulus' isn't helping:


Rasmussen Reports™: The Most Comprehensive Public Opinion Data Anywhere

Daily Presidential Tracking Poll
Wednesday, July 08, 2009 Email to a Friend ShareThis

The Rasmussen Reports daily Presidential Tracking Poll for Wednesday shows that 32% of the nation's voters now Strongly Approve of the way that Barack Obama is performing his role as President. Thirty-seven percent (37%) Strongly Disapprove giving Obama a Presidential Approval Index rating of –5.

The number who strongly disapprove inched up another point to the highest level measured to date and the overall Approval Index is at the lowest level yet for Obama (see trends).

In the wake of last week’s disappointing report on job loss, consumer confidence has fallen to the lowest level in two months. The Rasmussen Investor Index shows investor confidence falling to the lowest level in three months. The number of investors who say the economy is getting worse jumped from 43% before the jobs report to 51% today....

 

[strollingbones]

i am more concerned with about anything than presidental polls....

 

[Annie]

i am more concerned with about anything than presidental polls....

Well if the politicians felt the same, we'd all be in better shape. Unfortunately they are exceedingly concerned and so far Obama has shown a strong desire to use them to frame what he says, not what he's doing.

Right now, he seems to sense that he must act quickly to shove through his programs, including perhaps a 2nd stimulus and health care, he knows time is running out. So, are those actions in the country's best interests, given the state of debt and the overall economy?

Americans are getting cold feet over Democratic proposals | Washington Examiner

Americans are getting cold feet over Democratic proposals

By: Michael Barone
Senior Political Analyst
July 8, 2009

The financial system collapsed. Housing prices cratered. Unemployment is at a record high for the last quarter-century. The Democratic president has a solidly positive job rating.

And yet we Americans have not suddenly become collectivists. The economic distress of the 1930s led Americans to favor less reliance on markets and more on government. The economic distress of the 1970s led Americans to favor less reliance on government and more on markets. It doesn't seem unreasonable to expect, as many political liberals have been predicting, that the economic distress of the late 2000s will produce a shift in the 1930s direction. But it doesn't seem to have happened yet.

Or so the polling evidence tells us. Last month's Washington Post/ABC poll reported that Americans favor smaller government with fewer services to larger government with more services by a 54 to 41 percent margin -- a slight uptick since 2004. The percentage of Independents favoring small government rose to 61 percent from 52 percent in 2008. The June NBC/Wall Street Journal poll reported that, even amid recession, 58 percent worry more about keeping the budget deficit down versus 35 percent worried more about boosting the economy. A similar question in the June CBS/New York Times poll showed a 52 to 41 percent split.

Other polls show a resistance to specific Democratic proposals. Pollster Whit Ayres reports that 58 percent of voters agree that reforming health care, while important, should be done without raising taxes or increasing the deficit. Pollster Scott Rasmussen reports that 56 percent of Americans are unwilling to pay more in taxes or utility rates to generate cleaner energy and fight global warming....

 

[Tech_Esq]

I said in February that Obama had until August to start producing results. It appears that I got that one right. If he cannot point to substantial economic successes by the end of August things are going to shift rather suddenly on him. This is especially true because employment is a lagging indicator and likely to continue to slide through the end of the year. Therefore, people will be in no mood to hear rosy announcements from Obama about the economy.

If there is still no improvement by the end of the year, Obama can look for approvals in the Bush range in 2010.

 

[Mad Scientist]

The Honeymoon is over.
Dead Cat Bounce has reached it's apex.
Unemployment will continue to rise.
Obama will continue to do all the wrong things.

The best thing that could happen for America and Obama is a Conservative Congress is elected, turns the economy around and Obama gets' the credit because it happened on his watch.

Stimulus II will seal his fate.

 

[strollingbones]

markets finished up today.....by about 15 pts....

 

[jreeves]

markets finished up today.....by about 15 pts....

LOL...unemployment is 9.5% and Obama said if we passed Porklus bill it wouldn't go above what 8%.

Blaming Bush only works for so long.....

 

[Xenophon]

BO is talking about TRILLIONS more of debt when his 'stimulous' has proved to be a massive failure by his own standards.

I can't imagine how anyone can keep supporting this fool.

 

[Baruch Menachem]

BO is talking about TRILLIONS more of debt when his 'stimulous' has proved to be a massive failure by his own standards.

I can't imagine how anyone can keep supporting this fool.

Vegas depends on repeat customers. All the 0bama customers are like the folks at the slot machines with the paper cups full of change and lots of hope every time they pull the lever

 

[eagleseven]

markets finished up today.....by about 15 pts....

And how many hundreds of people lost their job today?

In June, about 500,000 people lost their job, while the Dow went up nearly 600 points. Using your logic, we need to lose 1,500,000 more jobs for the Dow to reach 10,000.

Don't you love Obamanomics? So magical....it's like they're making up the numbers!

Cook the books? Yes we can! How else can an increase in unemployment of 500,000 in May increase unemployment by 0.5%, and then, in June, a similar 480,000 increase in unemployment result in a 0.1% unemployment bump? And this is hailed as improvement?

Our Media needs an Economics 101 lesson. Although algebra would be a start...our government's formulas are dishonest.

 

[Baruch Menachem]

It is called Seasonal adjustment. The employment pool expands in summer with all the kids out of school, and contracts in autumn. It is an attempt to have some sort of consistency in the reported numbers that are not distorted by seasonal changes. I do sort of agree that the numbers seem fishy, but it really isn't that far out of line.

Of course, seasonal jobs will all vanish in the autumn. And most of the job loses don't really belong in the seasonal category that adjustments are supposed to deal with. It will be interesting to see how much of this continues into fall when seasonal adjustment works it magic the other way.