More Economic Good News: Stocks show biggest rebound since the Great Depression

Discussion in 'Politics' started by rightwinger, Jan 1, 2010.

  1. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Stocks increase nearly 60% since March low

    Stocks post biggest rebound in 2009 since Great Depression - USATODAY.com

    NEW YORK — Few analysts forecast this year's remarkable stock market rebound as major indexes were plunging to 12-year lows last March. Now, with most experts predicting the pace of stocks' gains will slow in 2010, there's reason to believe they will be proven correct.
    Despite fears early in the year about a potential financial system collapse, stocks managed to have their best year since 2003 on growing signs of recovery in what turned out to be Wall Street's biggest comeback since the Great Depression.

    Stocks began the dramatic turnaround in March after Citigroup and other big banks said they were making money again, and then climbed at a fairly steady pace as signs of an economic recovery from the Great Recession became more pronounced.

    Once it was clear a collapse wasn't going to happen, the Standard & Poor's 500 index roared back 64.8% from its early March low. For the full year, the index rose 23.5%, or 211.85 points, it's best showing since 2003.

    The Dow Jones industrial average rose 1,651.66, or 18.8% for the year. From its March 9 close, the Dow jumped 59.3%. Powered by the recovery in high-tech stocks, the Nasdaq ended 2009 with a gain of 696.12, or 43.9%. Tthe Nasdaq has surged 78.9% from its March low.
     
  2. NYcarbineer
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    NYcarbineer Diamond Member

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    Yeah but!!!!!!!!!!!!!!!!!!!!!

    lol
     
  3. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    America lost $13 Trillion in personal wealth in the Bush Stock Market crash. Most of that has been regained.

    Good News for anyone with investments, 401K or retired
     
  4. kyzr
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    kyzr Gold Member

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    The Clinton stock market crash was caused by giving mortgages to unqualified borrowers, who promptly defaulted creating the stock market crash.
    Real cause of the subprime mortgage crisis

    Add to that the Barney Frank and Obama cash cows Fannie & Freddie who were kept free from GOP attempts at regulation, and you have an even more disastrous financial crisis.

    I explained how the dems caused the financial crisis. All Bush did was cut taxes and waste money on entitlements. Obama and the dems are burying the US with borrowing and the national debt.

    So don't call it the Bush Stock Market crash, its the Obama fiscal disaster that will kill SS & Medicare.
     
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  5. Toro
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    Toro Diamond Member

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    This crash was not caused by the CRA, and there are so many reasons why this is not the case. The two most glaring are that home prices went higher in other countries - please tell me that the CRA caused a housing bubble in Australia, Ireland, Spain, Canada, etc. - and if you believe in the efficacy of markets, CRA loans would have defaulted at a higher rate and CRA-funded areas would have seen the highest home price appreciation, neither of which happened. You can read more about the role of the CRA or lack thereof in this thread.

    I really honestly believe people who think that the financial crisis was caused by the Democrats are clueless. I also believe that people who think the Republicans are the cause are only slightly less clueless.

    I would also say that the federal government is a minor reason for this stock market rebound.
     
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    Last edited: Jan 1, 2010
  6. kyzr
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    kyzr Gold Member

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    The bad mortgages were bundled and sold as CDos and CDSs, then they coined the phrase "toxic assets" referring to the defaulted loans, which the Feds approved TALF and TARP to "buy" the toxic assets. The toxic assets were caused by giving loans to undeserving borrowers.

    There is no other reasoning for the financial crisis, other than the dems pushing CRA and bad behavior by Obama (most cash pocketed from Fannie/Freddie) and Barney Frank. Mozillo and Countrywide also bribed the dems.
    So I can prove its was the dems, you can't prove it was the GOP.
     
  7. Toro
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    Toro Diamond Member

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    Yes, I know. I saw billion dollar CDOs and synthetic CDOs come across desk as the underlying collateral for potential equity swaps. We passed on them because they were filled with shit. But most subprime loans occurred outside of CRA-designated areas, most had nothing to do with Freddie and Fannie, and most were to buy houses in middle-class, upper middle-class, and speculative areas.

    There are many, many reasons for this financial crisis, most of it occurring outside of politics.
     
    Last edited: Jan 1, 2010
  8. kyzr
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    kyzr Gold Member

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    Absolutely true.

    That said, my bi-partisan reasons for the "decline" of the US as opposed to the financial "crash" was the relocating of factories and the outsourcing of jobs overseas. The GOP passed the "American Jobs Creation Act" which was a mis-nomer because all it did was give big tax breaks to move factories overseas. The dems did nothing to protect US jobs. They were all bought-off.
     
  9. namvet
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    namvet Gold Member

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    how many more trillions??? the OP is so full a crap the whites of his eyes are brown. idiot
     
  10. 2Parties
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    2Parties Senior Member

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    The economy has been shit this entire decade. It still sucks, and I see no signs of recovery. It sucked when Rush and Hannity were worshiping their Lord and Savior George W. Boooosh and claimed all was well (when anyone with any economic sense could tell it wasn't). It sucks now when lefty media claims it's recovering (when anyone with any economic sense can tell it isn't).
     

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