Posted on 11/10/2008 11:41:59 AM PST by BenLurkin
(Excerpt) Read more at finance.yahoo.com ...
you had me haha
Yeah, I see Circuit City and it’s employees joined the festivities today, as did the U.S. Postal Service!!
welcome to the obamaconomy
The stock market trades on Sunday?
Here it is since election day: http://finance.yahoo.com/echarts?s=%5EDJI#symbol=%5EDJI;range=5d
He did say he’d fix the economy.
It looks like it’s “fixed”, alright.
The USPS is laying off 40,000 workers but said customers will not notice.
My two cents: Economy will take 2-3 quarters to improve, the stock market will anticipate that by 4 or 5 months and begin to go up. Obama will look at this as an affirmation of his ideas, and will enact his policies of higher tax, no new domestic oil, taking over the health care system, etc. etc. The market will start to react and head back down.
All of us need to use every opportunity to educate the public that the economy was fine until the Democrats took control of congress the last 2 years of Bush’s administration.
I think we will break through last week’s lows.
If this is true (customers will not notice), then someone in management should be fired. This should have been done years ago!
There is a dire need for the information concerning both the state of the economy after the election of the Demo congress as well as a chart of oil prices since they took over the congress.
I don’t know if it’s 0bama’s influence or not, but there is some really serious selling pressure going on in the stock market at present. The financials are getting hammered, and with all the stimulus being pumped into the banks, you have to wonder, where are these banks going to be making money “going forward”? (to use an irritating phrase from that list the other day) Generally, the market is NOT going to rally without the financials.
I don’t think this is any kind of three-month deal. Everything I look at points to a long and pretty deep recession. IMO, 2009 will absolutely utterly suck. Disclosure: I’m a pessimist, in case that wasn’t clear. IMO, we are at the front edge of this “downturn”.
I agree. My memory of the Carter administration is that all economic indicators headed straight down until the election of Reagan. When he ended his term, inflation was at 12%, unemployment at 8%, interest rates at 18%, and gold at $6-700/oz. (equivalent to $1400 today).
Since Obama's policies promise to be the same, I don't expect a different result.
I think there will be at least one difference. Unemployment will be into double digits.
You got that right!
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