After Previously Blaming Obama For Slumping Markets, Boehner Downplays Surging Dow

[Modbert]

After Previously Blaming Obama For Slumping Markets, Boehner Now Downplays Surging Dow

http://thinkprogress.org/2009/10/14/boehner-markets-obama/

Today on Wall Street, the Dow Jones Industrial Average climbed above 10,000 for the first time this year as “U.S. stocks approached their highest levels since Lehman Brothers Holdings Inc.’s bankruptcy sent the global economy into a tailspin.” In fact, the index is up 13 percent since the start of the year.

Boehner said the stock market’s rebound is a reaction to the extreme shock from earlier this year, but it says little more than that.

“At the end of the day, the American people aren’t looking at the stock market in terms of putting food on the table,” Boehner said. “They want jobs, and they want them now.”

In search of an attack line on the newly-inaugurated President Obama back in March, the GOP leader thought that the dismal numbers coming from Wall Street represented the public’s dissatisfaction with Obama’s policies:

“The president certainly remains popular, but his policies are becoming less and less popular,” Boehner said, citing the continuing slide in the financial markets. “Certainly the stock market hasn’t acted very well” since Obama’s inauguration.

As the markets continue to falter, Republicans are becoming more confident in their criticisms of the president — some have already taken to using the phrase “the Obama economy.”

But Boehner has also used the markets to tout the leadership of the Republican Party. At a rally just before the GOP got its “thumpin’” in the 2006 mid-term elections, then Majority Leader Boehner argued that his party would best handle the economy reportedly by “point[ing] to a hot stock market.

Mmm, so delicious. I could feast all night on the hypocrisy of John Boehner. So filling.

 

[Article 15]

Leave the guy alone, Robert. He's pretty much keeping the tanning bed industry afloat by himself.

 

[EriktheRed]

Ah, the Boner pulls another boner...

 

[Modbert]

Leave the guy alone, Robert. He's pretty much keeping the tanning bed industry afloat by himself.

He's the tanning bed industry stimulus.

 

[Shep Dawg]

John Boehner is an assclown. He is about as partisan as a Republican can be. There are some good people in the Republican party, but he isn't one of them. Anyone who takes what he says seriously needs to re-evaluate their reason for being involved in politics. This isn't the first time he has spoken out from both sides of his ass. err...mouth.

 

[Oldandtired]

After Previously Blaming Obama For Slumping Markets, Boehner Now Downplays Surging Dow

Think Progress » After Previously Blaming Obama For Slumping Markets, Boehner Now Downplays Surging Dow

Today on Wall Street, the Dow Jones Industrial Average climbed above 10,000 for the first time this year as “U.S. stocks approached their highest levels since Lehman Brothers Holdings Inc.’s bankruptcy sent the global economy into a tailspin.” In fact, the index is up 13 percent since the start of the year.

In search of an attack line on the newly-inaugurated President Obama back in March, the GOP leader thought that the dismal numbers coming from Wall Street represented the public’s dissatisfaction with Obama’s policies:

“The president certainly remains popular, but his policies are becoming less and less popular,” Boehner said, citing the continuing slide in the financial markets. “Certainly the stock market hasn’t acted very well” since Obama’s inauguration.

As the markets continue to falter, Republicans are becoming more confident in their criticisms of the president — some have already taken to using the phrase “the Obama economy.”

But Boehner has also used the markets to tout the leadership of the Republican Party. At a rally just before the GOP got its “thumpin’” in the 2006 mid-term elections, then Majority Leader Boehner argued that his party would best handle the economy reportedly by “point[ing] to a hot stock market.

Mmm, so delicious. I could feast all night on the hypocrisy of John Boehner. So filling.

If Obama said those things I would be forced to agree...and I am by no means an Obama supporter.
What Boehner said is 100% accurate.
In 2006..and during anytime of prosperity, the market is an indicator of a surging economy
After a crash..or serious downturn....during a recession...an increase in the market is attributed to those wityh some equity taking advantage of good deals on stock and not at all an indicator of economic growth...

During a recession...you need to look at GDP and job gains to see if we are recovering.

Those that look at market swings are those that have no clue...no offense meant....aww...heck....offense meant.

 

[Oldandtired]

As one who invests...

During times of prosperity, I buy a stock that is priced at a fair value and I lookk at its R and D and hiring acitivity to determine where it may go.

During recessions, I buy a stock based on what it was before the recession as it is a good deal and I gamble that it will rebound when the recession is over.

What Boehner said was 100% accurate.

Hiring has not increased one iota...so exactly why is it good economic news that stock prices have risen? People are simply taking in good deals.

 

[VaYank5150]

As one who invests...

During times of prosperity, I buy a stock that is priced at a fair value and I lookk at its R and D and hiring acitivity to determine where it may go.

During recessions, I buy a stock based on what it was before the recession as it is a good deal and I gamble that it will rebound when the recession is over.

What Boehner said was 100% accurate.

Hiring has not increased one iota...so exactly why is it good economic news that stock prices have risen? People are simply taking in good deals.

Oh just STFU and admit that the GOP and Boenher himself INVESTED in the fact that they hoped Obama would fail. Now that the stock market is back about 10,000, they are scrambling to cover their asses....

 

[Mad Scientist]

Oh just STFU and admit that the GOP and Boenher himself INVESTED in the fact that they hoped Obama would fail. Now that the stock market is back about 10,000, they are scrambling to cover their asses....

STFU and tell us about the job creation. Are you saying that next month we'll see a reduction in unemployment?

 

[VaYank5150]

Oh just STFU and admit that the GOP and Boenher himself INVESTED in the fact that they hoped Obama would fail. Now that the stock market is back about 10,000, they are scrambling to cover their asses....

STFU and tell us about the job creation. Are you saying that next month we'll see a reduction in unemployment?

WTF does unemplyment have to do with the topic of this thread?

 

[oreo]

After Previously Blaming Obama For Slumping Markets, Boehner Now Downplays Surging Dow

Think Progress » After Previously Blaming Obama For Slumping Markets, Boehner Now Downplays Surging Dow

Today on Wall Street, the Dow Jones Industrial Average climbed above 10,000 for the first time this year as “U.S. stocks approached their highest levels since Lehman Brothers Holdings Inc.’s bankruptcy sent the global economy into a tailspin.” In fact, the index is up 13 percent since the start of the year.

In search of an attack line on the newly-inaugurated President Obama back in March, the GOP leader thought that the dismal numbers coming from Wall Street represented the public’s dissatisfaction with Obama’s policies:

“The president certainly remains popular, but his policies are becoming less and less popular,” Boehner said, citing the continuing slide in the financial markets. “Certainly the stock market hasn’t acted very well” since Obama’s inauguration.

As the markets continue to falter, Republicans are becoming more confident in their criticisms of the president — some have already taken to using the phrase “the Obama economy.”

But Boehner has also used the markets to tout the leadership of the Republican Party. At a rally just before the GOP got its “thumpin’” in the 2006 mid-term elections, then Majority Leader Boehner argued that his party would best handle the economy reportedly by “point[ing] to a hot stock market.

Mmm, so delicious. I could feast all night on the hypocrisy of John Boehner. So filling.

You obvioulsy don't have much understanding of how our economy & or the stock market works.

1. Stock market goes up--because of higher earnings--based upon 1 year ago figures.
Earnings consist of gross sales less expenses.

NOW THINK VERY HARD--

When business has cut back their expenses to the BONE--including employee lay-off's--cutting back on purchase orders, etc. WHAT HAPPENS? Their profit margins go UP--

What we really want to see is private sector business expanding--more gross sales--NOT less--which would require them to hire their laid off employees back.

Therefore the stock market over 10K is a FALSE indicator of the actual economic activity in this country. Because there is NONE of that.

 

[WillowTree]

unemployment at 10% and DUmmies are celebrating.

 

[JakeStarkey]

And Reagan's presidency at 10.8% in 1983 and those dummies are celebrating. willow makes comparison that fall apart. Go sit under the willowtree, kitty.

 

[rightwinger]

Boehner and company linked the political future of the GOP to an economic failure during Obama's tenure. Now with the Dow up 50% and the recession nearing an end they have nothing..

Well they still have ACORN to run on

 

[WillowTree]

And Reagan's presidency at 10.8% in 1983 and those dummies are celebrating. willow makes comparison that fall apart. Go sit under the willowtree, kitty.

keep celebrating dipshit, it's 27% in Detroit and the rest of the country will soon follow. somebody is blowing smoke up your ass. ummhh huhhh ummmm huuu your assholes in Washington just extended the unemployment benefits another 14 weeks, 20 weeks for Michigan, but you keep on a cheering ya hear?

 

[Polk]

Hypocrisy, thy name is Republican.

 

[rightwinger]

Dow Jones hits 10,000

Good for the country
Bad for republicans

 

[Toro]

It's a very bad idea for Republicans to link the market to Obama because it will do better under Obama than it did under Bush.

 

[Shogun]

Think Progress » Fox News’ Neil Cavuto: “Is this now the ‘Bush Recovery’”?

 

[LibocalypseNow]

I have to agree with Boehner on this one. Stock Markets go up and Stock Markets go down. Just because Wall Street is getting fat & rich doesn't mean that Main Street is. People often make that mistake of connecting the two. Wall Street was bailed out with your money and now their making profits again. So what? They've made money before as well. It doesn't mean that there wont be another catastrophic economic collapse in the near future. Wall Street's fortunes have very little to do with the average working American Citizen. I just read where Goldman Sachs has just turned a $3 Billion profit. That just doesn't mean anything to the average working American Citizen though. So the same Wall Street fat cats get more rich? Sorry but i'm just not jumping for joy over that news. When they go broke again they'll just demand that the American Tax Payer bail them out again and our corrupt politicians will go ahead and do it too. It's all just a sad game in the end. I really wouldn't connect Wall Street fat cats getting more rich with average Main Street American Citizens. You will only be disappointed in the end.