Posted on 03/05/2009 11:16:30 AM PST by rightinthemiddle
Wall Street has soured on the new Administration's policy moves. Can this relationship be saved?
At least on Wall Street, the honeymoon is over for President Barack Obama.
Polls still show the President has strong popularity among the general U.S. population, and Obama continues to command power in Congress. But among investors, fairly or unfairly, there is griping that the new Obama Administration is at least partly to blame for the recent slide in stocks. Since Nov. 4, Election Day, the broad Standard & Poor's 500-stock index is off about 25%, and since Jan. 20, when Obama took office, the "500" is down 15%.
It's never easy to determine exactly why the stock market moves in a particular direction. Plenty of other factors have influenced stock prices since November. For example, the global economy has slowed further and the outlook for corporate profits has worsened.
But BusinessWeek interviewed a wide array of investment professionals, and many said the first six weeks of the Obama Administration have soured their outlook on the stock market.
(Excerpt) Read more at businessweek.com ...
day-to-day stuff varies, but there can be no doubt the market (and the world) is figuring out this guy is not what they had been told to expect, and it is for the worse.
Nice chart
The Dems have been working on taking 401K’s for since before the election.
Read these :
http://www.workforce.com/section/00/article/25/83/58.php
http://www.ibdeditorials.com/IBDArticles.aspx?id=309653051843388
A lot of these movements were baked in the cake years ago by e.g. the hollowing-out of Fannie and Freddie, and by the reckless piling-up of credit default swaps by fee-driven Wall Street investment banks, who were in turn enabled by the repealer of Glass-Steagall in 1999 (led by GOP Sen. Phil Gramm and signed by Slick).
There is also the Fed knife-in-the-back factor: in July, the President's Working Group on Capital Markets knocked down the commodities group. The PWGoCM (a.k.a. "the Plunge Protection Team" back before they met publicly during the Bear Stearns meltdown a year ago, although the WaPo had written an article about the Team's existence, properly titled as the "Working Group", as long ago as 1997) may have knocked down more than they intended by going after the commodity hedge funds (called a "long squeeze") and creating a snowballing rush to the safety of federal notes and bills. The decision not to treat Lehman Brothers like Bear Stearns triggered a lot of credit defaults, causing the Credit Default Swaps on Lehman to trigger in some very big numbers. The market melted days later -- which may be your real post hoc/propter hoc on the September/October market-melt.
Obama recently suggested that investing in the stock market for the long-term might be a good idea.
Why doesn’t 0bama focus on fixing the economy rather than throwing out suggestions for consideration regarding the stock market?
Educated Idiot anyone?
Separated at birth?
“Hope! Change!”
No, more like Dopes in Chains...
And don't forget, "PIE!"
partly to blame! I don’t think so, THEY ARE THE REASON FOR THE MELTDOWN, PLAIN AND SIMPLE
Your graph needs an update.
Glad I’m out of the market.
For the answer, see my tagline.
We're learning financial and business leaders were investing in mortages and derivitives of mortages so heavily that they they had to support redistribtuion schemes.
YOu might even go back to the previous election in which the Democrats took over Congress. That is when the economy began the rebalancing.
Wrecking America ping.
why did the investor class vote for obamao in the first place?
The real question is, when will any, all business people stop voting for any liberal Democrat? After all, their votes helped build the margin for the faux Messiah and many other lib Dems like Murtha in Pa. The Dow has lost some 3000 plus points since Obama was elected in Nov. Now, the business world realizes that he is a socialist pacifist. Too late now but perhaps in 2010 , there might be a small relief in picking up some House seats if the dopes vote GOP instead of socialist liberal.
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