Why is the DOW still going down?

[Modbert]

Sounds more likely than some conspiracy to make Obama look bad.....

Or once again, more people are selling then buying for various reasons. Many are selling because they felt left out of this new bill. That Obama doesn't care about Wall Street and whether it would fail supposedly.

 

[driveby]

I don't think so, Wall Street is punishing Obama in kind for not saying what they want him to say.

Besides, I'm not a Democrat and I have already disagreed with Obama several times. However, Republicans and Wall Street would all be smiling and laughing joyfully if this was all tax cuts. So don't give me that bullshit.

Wall Street is punishing Obama ?

People are losing money on purpose just to make Obama look bad ?

Not sure i follow you there ........

he's creative isn't he?

indeed ...

 

[Paulie]

Sounds more likely than some conspiracy to make Obama look bad.....

Or once again, more people are selling then buying for various reasons. Many are selling because they felt left out of this new bill. That Obama doesn't care about Wall Street and whether it would fail supposedly.

Hasn't wall street gotten enough?

 

[toomuchtime_]

I thought this stimulus was going to save the country.... so why are stocks still going down?


Dow nears 10-year low - International Herald Tribune

While some people seemed to believe that, Obama never said it would. At first he said that if it didn't pass, we would suffer a catastrophe, but he was careful never to say that if we did pass it, there wouldn't be a catastrophe. At his press conference, he said the stimulus package would slow down the rate of job loss, but he acknowledged that it was necessary to fix the credit crisis to turn the economy around.

The reason the stock market is still in decline is that investors don't have confidence in what Geithner has revealed about what will be done about the credit crisis. When he testified before Congress, members of both parties expressed concern about the lack of specifics in the plan, and both the Wall Street Journal and the New York Times made that same complaint. If you followed the news from Rome, finance ministers from the G-7 states also expressed disappointment with the lack of details in Geithner's plan, which must be considered Obama's plan.

This is particularly troubling since the key issue in solving the credit crisis is what to do with the so called "toxic assets" and the solution Geithner proposed is that the government will motivate investors, by some unspecified methods, to buy them, but his speeches so far have seemed to have just the opposite effect on investor confidence, and investors have increased the rate in which they are transferring their money into commodities and Treasuries.

To be fair, Giethner/Obama don't have much choice in what they do. Dodd and Frank, the respective chairmen of the Senate and House financial services committees, have unequivocally stated they will not approve more money to rescue the financial system, so the administration has to rely for the time being on half measures that have so far disappointed nearly everyone and driven investor confidence lower.

 

[Modbert]

Hasn't wall street gotten enough?

They have, but they don't think so.

You'd figure Wall Street would take out the trash itself and get rid of all these imcomptent CEOs and investors who are robbing people blind but they truly don't care as long as they are making money.

 

[Againsheila]

Okay, in a nutshell, the stimulus bill doesn't bring our jobs back from overseas, it doesn't ship home the illegals that are underbidding Americans for our jobs here and it doesn't end the plan of bringing in people from other country's to do our jobs at lower costs. The strong American middle class is gone and Wallstreet knows that without it, we can't be a strong country. The gilded age led to the first great depression and this gilded age has led to a 2nd. It's not hard to figure out if you know your history and economics. Americans with no money can't buy anything. Rich people invest, often overseas, there aren't enough of them and they don't buy enough stuff here to make a difference. Bring back our middle class, raise minimum wage and our economy will get better.

 

[Diuretic]

Thanks Robert - the stock market seems to me to be a mix of casino and fortune-teller with minimal connection to the actual, real economy. I suppose some of its indicators might reflect the economy but I suspect it's tenuous. The indicators are immediate but I question their relevance to the economy. I think there are other more important indicators of the state of an economy than the Dow or the Nasdaq.

 

[Modbert]

Thanks Robert - the stock market seems to me to be a mix of casino and fortune-teller with minimal connection to the actual, real economy. I suppose some of its indicators might reflect the economy but I suspect it's tenuous. The indicators are immediate but I question their relevance to the economy. I think there are other more important indicators of the state of an economy than the Dow or the Nasdaq.

That's about the size of it. The Stock Market is simply gambling for rich people (usually white men in history).

Analysts usually evaulate the health of a company through it's financials but even those can't predict what will happen within the next year. It's more of a guessing game then anything on which stocks will succeed and which will fail.

 

[midcan5]

Because markets are not science nor can they be studied or analyzed rationally. Money is like sand thrown in the eyes during a hurricane, most don't see very clearly. And if you want proof watch it for a while. I can't find the quote from Taleb but he notes one day the market went up and then down and the same reason was given for both. Listen if you want to understand the idiocy of markets.

What do you know - Nassim Nicholas Taleb

Pop!Casts

SS > NF reviews > Nassim Nicholas Taleb

 

[mash107]

Don't worry, though.

Obama will create 3 million jobs... if only for the price of $250k-$1M each (some estimate this plan to cost $3T)

If only private markets were ran at government efficiency, how lucky we'd all be! Oh wait....

 

[Meister]

Hey KMAN, don't let your partisan hackery show a little more. I mean hell, Obama could cure Cancer himself at this point, fix the Economy, bring about world peace and you'd still say he's a horrible President.

This is such a stupid question asked upon your part but not surprised.

Perhaps, it's because economists know more about Wall Street, than a bunch of lawyers??? you idiot.

 

[Annie]

Hey KMAN, don't let your partisan hackery show a little more. I mean hell, Obama could cure Cancer himself at this point, fix the Economy, bring about world peace and you'd still say he's a horrible President.

This is such a stupid question asked upon your part but not surprised.

Well when any of those happen, just the last two would be good, check it out then. So far, he's gotten all that he said was necessary to stem the 'catastrophe' that seems more of his own making.

It's one thing for him to trash Bush while campaigning, but he's done nothing but since, now you all seem defensive at what is happening. :shrug:

 

[Toro]

The market is going down because the bear funds know they can push the market down. Simple as that. There is little good news, investors who have cash - and there are a lot of them - are simply sitting on their hands, and the market believes the government is as impotent as it was under the Bush administration. So the bears are firing away.

When it turns, though, it will turn very hard.

 

[Modbert]

Perhaps, it's because economists know more about Wall Street, than a bunch of lawyers??? you idiot.

Oh you mean like all the economists who missed this current crisis?

 

[Modbert]

Well when any of those happen, just the last two would be good, check it out then. So far, he's gotten all that he said was necessary to stem the 'catastrophe' that seems more of his own making.

It's one thing for him to trash Bush while campaigning, but he's done nothing but since, now you all seem defensive at what is happening. :shrug:

To say he has done nothing since taken office is incorrect.

 

[Meister]

Perhaps, it's because economists know more about Wall Street, than a bunch of lawyers??? you idiot.

Oh you mean like all the economists who missed this current crisis?

Maybe I should be more explicit.....Your Barney Frank, Your Chris Dodd, and my Chris Cox, would be the ones...not really economists...but lawyers.

 

[Modbert]

Maybe I should be more explicit.....Your Barney Frank, Your Chris Dodd, and my Chris Cox, would be the ones...not really economists...but lawyers.

They're not mine; I'm not a Democrat.

Barney Frank and Chris Dodd are fools in my opinion.

 

[xsited1]

Maybe I should be more explicit.....Your Barney Frank, Your Chris Dodd, and my Chris Cox, would be the ones...not really economists...but lawyers.

They're not mine; I'm not a Democrat.

Barney Frank and Chris Dodd are fools in my opinion.

You must be an independent because you disagree with Obama on his choice of cigarettes.

 

[Modbert]

You must be an independent because you disagree with Obama on his choice of cigarettes.

What brand does he smoke?

Though in reality, I despise political parties. I also have what some would consider Conservative views as well.

 

[mash107]

Well when any of those happen, just the last two would be good, check it out then. So far, he's gotten all that he said was necessary to stem the 'catastrophe' that seems more of his own making.

It's one thing for him to trash Bush while campaigning, but he's done nothing but since, now you all seem defensive at what is happening. :shrug:

To say he has done nothing since taken office is incorrect.

I agree with you on this. But it's just more of wrong Bush had done. It's propesterous to think that spending will get us out of a hole, when it was spending that brought us here. Really foolish to think wars and welfare don't have negative consequences.