The Republican Guide To The Stock Market
Steve Benen brings us the rules for watching the stock market, according to Republicans:
Just so we’re clear, here’s a helpful guide to the rules of Wall Street watching, as they relate to partisan politics:
When the markets went down on Bush’s watch before the 2008 elections, this was Bill Clinton’s fault.
When the markets went down on Bush’s watch between November 2008 and January 2009, this was Barack Obama’s fault.
When the markets went down during Obama’s first seven weeks in office, this was definitely Barack Obama’s fault.
And when the markets rally throughout Obama’s first year in office, George W. Bush deserves at least some of the credit.
It’s good to know — positive developments are evidence of Republican wisdom, and negative developments are evidence of Democratic failure.
Republicans don’t even bother to try to make sense anymore. Intellectual consistency is apparently just too much to ask.
Tags: Economy, Republican Hypocrisy
Republican guide to Wall Street — Sell Short cause we’re gonna make a total mess of things.
No Rebecca–It’s we wouldn’t buy what we tried to sell.
“The Bush Recovery”? Really? It’s getting to the point where
GOPFOX News almost defies parody. It’s becoming increasingly hard to come up with stupider, more ridiculous things than they are. (I’m obviously exempting Mr. Beck. His comedy skit show passed that mark long ago.)You do have to give a lot of the credit to Bush because 90% of what stopped the fall where his policies. By that logic you can blame none of the current mess on President Obama either. Don’t worry he is making his own. http://www.chinadaily.com.cn/world/2009-09/18/content_8709015.htm
I won’t give anyone credit until the jobless recovery phenomenon becomes one with significantly increasing employment. No, I don’t claim it’s President Obama’s fault, either. It’s a phenomenon that’s existed before.
90% of what caused the fall were Bush’s policies. The recovery is due to the stimulus package, which all but 2 current Republicans voted against.
Recognize that a day of reckoning could come.
Fox News and other conservative media outlets have excitedly told their viewers/listeners that the end of the world is upon us (Obama in the White House, and Pelosi in the other House), and this doomsday talk led to an exodus with money market funds reaching $4 trillion.
That very $4 trillion made 0.1% in the past seven months while stocks rose 60%.
In most worlds, when you are that wrong, people notice.
I don’t really think that even dittoheads will accept this logic (Obama = end of stock markets) argument forever, absent a scintilla of evidence (wishing doesn’t count). It reminds me of the ‘end of days’ folks, forever moving the last day further into the future, then further, then further.
The stimulus had zero to do with the recovery, which is not even a recovery yet. Current policies are holding back growth and may lead to a double dip. The CBO was right when they said doing nothing would give better job creation thant he Democrat stimulus. We see that we are losing jobs not gaining them. The stock market has not even recovered from where it was when all of this started. The market is considered to be outpacing earnings by many analysts and is will likely have a correction by the end of the year though I think 10K is reasonable.
The dollar is about to be dumped in a slow removal from being the global standard. Retail sales are weak. Foreclosures set a new record. The CBO says that policies being proposed will cut GDP growth and cost jobs esp. cap and tax. The tax increases on line for 2011 added to proposed taxes in some of the health care bills would be a negative. Commodities are at inflationary levels. The Federal reserve warns of weakness for years. The deficit is being taken so high the counter will have to be posted on the international space station. I do not know why you think some people would be concerned.
Then why didn’t you stop cheerleading for the policies that got us here?
And the stimulus does have a real impact. It’s problem is that it was not big enough for the job. If there had been no stimulus employment and consumer activity would be alot worse. The government trying to fill the hole left in the GDP by BushCo was absolutely right — it just didn’t fill up enough of the hole. And the stimulus is not meant to do much at all for the stock market — mush of the reason why the stock market is doing OK is irrational exuberance from the TARP.
Th rest of your post is the usual gibberish — largely wrong on the merits. Especially commodities. Oil prices are falling again and I know that materials prices (construction) are falling again. Farm commodities are well off their highs from 2008. About the only commodities that are going up are precious metals and that is a function of the weak dollar among other things.
But hey — we stopped expecting you to know something about the real world a long time ago.
The post by RD was load of crap posting. It was such crap that it doesn’t deserve a point-by-point rebuttal.
Instead I will share the immediate hypocracy within the post.
“The tax increases on line for 2011 added to proposed taxes in some of the health care bills would be a negative. … The deficit is being taken so high the counter will have to be posted on the international space station.”
Which is it, is the deficit good or bad? If bad, then why isn’t paying our bills, by collecting more in taxes, good?