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  • ilap2004 ilap2004 Mar 1, 2009 9:44 PM Flag

    MARKET LOVES OBAMA

     

    All Wall Street means is investors, big and small when it comes to the stock market's movements.

    Wall Street (collective investors) projects what the result of current policies will be. They discount future events. That's elementary. And that collective group of investors has historically been very good at discounting future events. For example gold prices and some other things are signalling rising inflation expectations. And the steepening yield curve signals rising interest rate expectations.

    So your "Like the current situation has anything to do with Obama" is pretty laughable.

    "the folks with no plan, no vision, just more of the same."

    I see you absorbed the Democrat talking points well from 2008. As for a plan and vision, Obama does have one. So did Vladimir Lenin. They are both bad. And they're both similar in many respects.

    The only plan that's needed is to fix the banks, which will take time. The rest is just massive spending that Democrats have been itching to unleash for a very long time and completely unrelated to the mess. Some of them have even been admitting that, like Rahm Emanuel's statement that a crisis is needed to get certain things done. In other words they wanted to do it anyway, and use the idea of the "mess" or "crisis" or whatever to justify it. It's obvious to anyone with a lick of intelligence.

    So yes, Obama does have a vision. But don't try to tell me he's solving any mess with this mountain of spending, much of which is permanent, not temporary.

    Say if we really don't care at all what Wall Street wants, and assuming they want rising stock prices, I guess we should want a collapsing stock market. I guess you don't own any stock and just like hanging around message boards.

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    • ilap: you mention this, but draw the wrong, negative, conclusion:

      "And the steepening yield curve signals rising interest rate expectations."

      The steepening yield curve is a very,very important positive development. It signals that the credit markets are returning to health and that the expectation is for growth (and, yes, higher interest rates) in the future. Coming out of a recession, expectations for a higher long rates than short rates is healthy, a good thing. The flat yield curve is unhealthy and signals continued recessionary expectations.

      Regarding the stock market: The sell-off was well established before Obama was elected. The decline in recent months is simply retracing the path to oct/nov lows because, indeed, the news just keeps getting worse and no solutions have had time to take hold.

      I'd argue that: if we fall far below this level, the reason will be that we are not spending enough to fix the banks and not adding enough fiscal spending to prop up the economy. Many, many investors and economists from Nouriel Roubini (dismissed as a crack-pot just 1 year ago) to George Soros (yes, he's a liberal, but he's also richer and smarter than you or me) feel that we are not spending enough...

      Good thing you're not a dietician: you'd probably prescribe fasting for a person who's starving to death.

      Maybe we should just trust Rush Limbaugh, FOX news, "Wall Street", Investment Bankers, corporate CEOs, and the Republican Party to save us. Right. They say "trust, but verify", and last time I verified, none of the above was worthy of my trust. Are they worthy of yours?

 
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