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(NBC News)   Obama's anti-business policies have devastated Wall St. to the tune of a 40% increase since 2009   (firstread.nbcnews.com) divider line 76
    More: Obvious, Wall St, first thought, obama, Connecticut Post, Low hanging fruit, David Keene, Savannah Guthrie  
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1058 clicks; posted to Business » on 17 Jan 2013 at 2:55 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-01-17 09:54:43 AM
Dow Jones Industrial Average
Then: 7,949.09 (close as of Jan. 20, 2009)
Now: 13,534.89 (close as of Jan. 15, 2013)

Gross Domestic Product
Then: -5.3% (1st quarter of 2009)
Now: +3.1% (3rd quarter of 2012)

Consumer Confidence (1985=100)
Then: 37.4 (Jan. 2009)
Now: 65.1  (Dec. 2012)


Clearly, this has been the worst four years of Wall St.'s life.  I can't see how it can get any worse for them.
 
2013-01-17 10:14:19 AM
Rather objective article. We still need to get that debt down.
 
2013-01-17 02:59:14 PM
Wall Street has more to owe to Uncle "Printing Press" Ben for that than anything.
 
2013-01-17 03:02:12 PM
Can you retards stop this shiat. Presidential policies and direction is one factor in stock market performance.

Analyze if his policies helped or hurt, stop claiming them the major factor in economics.

Both sides.

It is idiotic.
 
2013-01-17 03:06:16 PM
When you take office during a market crash, the recovery you inherit is rally just a given with time.

DJIA:

Jan 2, 2008 13,261.82

Jan 2, 2009 8,772.25

Jan 2, 2013 13,104.30
 
2013-01-17 03:09:41 PM

StrikitRich: When you take office during a market crash, the recovery you inherit is rally just a given with time.

DJIA:

Jan 2, 2008 13,261.82

Jan 2, 2009 8,772.25

Jan 2, 2013 13,104.30


Same with the economy. Obama wasn't to blame for unemployment spiking in the months after he came to office, and he's not responsible for the increasing employment since then.
 
2013-01-17 03:11:51 PM

Grand_Moff_Joseph: Clearly, this has been the worst four years of Wall St.'s life.  I can't see how it can get any worse for them.


I know the answer. Massive tax cuts for the wealthy.
 
2013-01-17 03:21:02 PM
Yup. Clearly, this was devastating. They had their poor little hearts set on an 85% increase.
 
2013-01-17 03:24:26 PM
I so love all the articles about this shiat.
Full of bullshiat and missing parts about how the peasants are still being paid a pittance. And how the rich from pulling out their massive wealth from the markets caused the markets to crash even harder and how short sales(for instant profit) are really hindering actual progress of the economy.

/Tell when the guillotines are ready.
//As per the Libertarian platform: The rich who got rich by hurting people shall have their wealth redistributed back to all. (guillotine optional)
 
2013-01-17 03:25:22 PM

Nicholas D. Wolfwood: Yup. Clearly, this was devastating. They had their poor little hearts set on an 85% increase.


Ahh... Management thinking. Gotta love that. "Sure, we made a billion dollars, but we wanted 2 billion, so let's fire everyone"
 
2013-01-17 03:30:13 PM
Blackbongo did everything he could to tear down Wall Street but the courageous job creators beat him back.
 
2013-01-17 03:33:00 PM
Well duh. It takes a real pro business Republican in the white house nowadays to cause the economy to fall apart. Anyone else simply is not skilled enough to cause that to happen.
 
2013-01-17 03:35:07 PM

MyRandomName: Can you retards stop this shiat. Presidential policies and direction is one factor in stock market performance.

Analyze if his policies helped or hurt, stop claiming them the major factor in economics.

Both sides.

It is idiotic.


But you've previously trolled that Obama hates business and capitalism and was single handily destroying the economy. Please make up your mind.
 
2013-01-17 03:46:31 PM

sheep snorter: //As per the Libertarian platform: The rich who got rich by hurting people shall have their wealth redistributed back to all. (guillotine optional)


I can't think of a single libertarian on Fark who believes that wealth should be distributed. Libertarians are generally corporatists in disguise who think that those wealthy people earned every single penny and don't deserve to have any increase in taxes whatsoever.
 
2013-01-17 03:46:47 PM
Only the rich invest, so only they have benefited from the Wall Street rally. Lots of companies whose stock has soared have also been laying off U.S. workers. Most folks would rather have more jobs than a higher stock market.
 
2013-01-17 04:00:58 PM

MyRandomName: Can you retards stop this shiat. Presidential policies and direction is one factor in stock market performance.

Analyze if his policies helped or hurt, stop claiming them the major factor in economics.

Both sides.

It is idiotic.



I'm afraid you're wrong. I was informed by top men that the President of the United States completely controls the stock market, unemployment, gun regulations and will probably make it mandatory for every white woman to retro-actively abort her first child.
 
2013-01-17 04:01:36 PM
We are hosed.  The amount of money the Fed QE's have injected, the Bundesbank pulling back their gold, the can kicking of debt and deficit reform, wealth gap, stagnant standard of living.  At least the rich got richer :/
 
2013-01-17 04:07:37 PM
The three major indices are up between 68% and 112%. Where did subby get the 40% number?

Vanguard's Total Stock Market Fund is up 80%.
 
2013-01-17 04:10:05 PM

wombatsrus: Only the rich invest, so only they have benefited from the Wall Street rally. Lots of companies whose stock has soared have also been laying off U.S. workers. Most folks would rather have more jobs than a higher stock market.


While not "only the rich invest", it is true that the vast majority of equity is held by a very small percentage of people. Median income is down over the last four years. But of course it is also down in most measures over the past 30 years. That was kind of the point of supply side economic policy.
 
2013-01-17 04:11:00 PM
Damn near everything has gained since the crash in 2008, it had nothing to do with Obama..
 
2013-01-17 04:13:42 PM
We on the same planet?

If you double the money supply, sure your Uncle Phil gets twice as much for his stocks, but it is twice as many of something worth half as much. Oh and don't forget those capital gains taxes on the illusion of a gain.
Super Dollar
 
2013-01-17 04:15:39 PM

wombatsrus: Only the rich invest, so only they have benefited from the Wall Street rally. Lots of companies whose stock has soared have also been laying off U.S. workers. Most folks would rather have more jobs than a higher stock market.


I'm not rich, however, I could see the writing on the wall in Feb of 2009. I put 5K into the stock market and that stock has gone up 22%. Not a lot, but noticeable and enough to make me very obnoxious with my conservative FB friends.
 
2013-01-17 04:16:28 PM

Hydra: Wall Street has more to owe to Uncle "Printing Press" Ben for that than anything.


i.imgur.com
You may not like his financial policies, but he puts out a good product.
 
2013-01-17 04:18:33 PM
This should be on the politics tab, I bet it'd go
500+ comments
 
2013-01-17 04:19:02 PM

StokeyBob: We on the same planet?

If you double the money supply, sure your Uncle Phil gets twice as much for his stocks, but it is twice as many of something worth half as much. Oh and don't forget those capital gains taxes on the illusion of a gain.
Super Dollar


That is a very simplistic look at inflation's relationship with the money supply and does not hold water as evident by the lack of inflation we have experienced during the monetary expansion policies of the last several years.
 
2013-01-17 04:22:00 PM

Insatiable Jesus: Blackbongo did everything he could to tear down Wall Street but the courageous job creators beat him back.


Close, but needs more homoerotic subtext:
Fartbongo did his best to force his policies down Wall Street's throat, but they beat him off successfully
 
2013-01-17 04:38:02 PM

AdolfClamwacker: Damn near everything has gained since the crash in 2008, it had nothing to do with Obama..


Not nothing, he has pushed a moderate amount of stimulus where the Republicans with McCain and Romney have suggested more austerity based programs (with pointless tax cuts for the rich who won't behave any differently because they already have enough money it doesn't affect their decision making any more, unlike poor and middle class people). As has been shown in various places in the EU austerity generally drops the economy and tax revenues at least as fast as you reduce spending, such as places like greece and ireland that have dropped spending massively and has their debt is still growing faster than ever. Thus we can predict that America would be economically weaker, the debt would have been larger, and the markets would be less strong if the GOP had their way.
 
2013-01-17 04:38:55 PM

AdolfClamwacker: Damn near everything has gained since the crash in 2008, it had nothing to do with Obama..


So you are saying things did not get worse under Obama?
 
2013-01-17 04:44:06 PM

hugram: AdolfClamwacker: Damn near everything has gained since the crash in 2008, it had nothing to do with Obama..

So you are saying things did not get worse under Obama?


I'm saying that unless the country went under it wouldn't have mattered who was pretending to run the show in DC, the stock market basically had no where to but up. Yes that's over simplifying things, and indeed it could have gotten worse but it was pretty unlikely unless you believe all the panty wetting the news feeds us daily.
 
2013-01-17 04:46:22 PM

Debeo Summa Credo: StrikitRich: When you take office during a market crash, the recovery you inherit is rally just a given with time.

DJIA:

Jan 2, 2008 13,261.82

Jan 2, 2009 8,772.25

Jan 2, 2013 13,104.30

Same with the economy. Obama wasn't to blame for unemployment spiking in the months after he came to office, and he's not responsible for the increasing employment since then.


It's the same as when they try to claim that gasoline prices have spiked since he took office, they just recovered along with the economy. The continuing devaluation of the Dollar by the Fed hasn't helped, though.
 
2013-01-17 04:54:36 PM
As many have already said, cherry picked stats.  But whatever.
The question is, would it have been better with someone else.  And that's impossible to predict.
 
2013-01-17 05:06:03 PM

Nofun: Rather objective article. We still need to get that debt down.


Ending the wars and getting the tax rates closer to 90's levels helps a lot.

More reinvestment in American infrastructure while interest rates are low would help more in the long run, but that requires a congress capable of thinking beyond the next election.

/Yes I'm oversimplifying, this is Fark.
 
2013-01-17 05:20:34 PM

James F. Campbell: sheep snorter: //As per the Libertarian platform: The rich who got rich by hurting people shall have their wealth redistributed back to all. (guillotine optional)

I can't think of a single libertarian on Fark who believes that wealth should be distributed. Libertarians are generally corporatists in disguise who think that those wealthy people earned every single penny and don't deserve to have any increase in taxes whatsoever.


transitionculture.org
 
2013-01-17 05:22:57 PM

timswar: Nofun: Rather objective article. We still need to get that debt down.

Ending the wars and getting the tax rates closer to 90's levels helps a lot.

More reinvestment in American infrastructure while interest rates are low would help more in the long run, but that requires a congress capable of thinking beyond the next election.

/Yes I'm oversimplifying, this is Fark.


I don't think you are. If we focus our efforts on a sort of new New Deal, we could create jobs, strengthen American transportation, increase tourist revenue (National Parks) and construct/improve schools and hospitals. I'm honestly not sure why this hasn't been discussed yet.
 
2013-01-17 05:28:39 PM

Grand_Moff_Joseph: Dow Jones Industrial Average
Then: 7,949.09 (close as of Jan. 20, 2009)
Now: 13,534.89 (close as of Jan. 15, 2013)

Gross Domestic Product
Then: -5.3% (1st quarter of 2009)
Now: +3.1% (3rd quarter of 2012)

Consumer Confidence (1985=100)
Then: 37.4 (Jan. 2009)
Now: 65.1 (Dec. 2012)


So since you're crediting your Messiah for the increase, did you also blame him when the Dow slipped to 6k after he took office? Were you singing Bush's praises when he took the Dow from 10k in 2001 to 14k by 2007?


No? You weren't, you say? Then shut up.
 
2013-01-17 05:33:55 PM
The only losses Wall St. saw were the billions the poured into the Romney campaign and GOP  PACs.
 
2013-01-17 05:48:32 PM

Brontes: We are hosed.  The amount of money the Fed QE's have injected, the Bundesbank pulling back their gold, the can kicking of debt and deficit reform, wealth gap, stagnant standard of living.  At least the rich got richer :/


That's one of the main points in this discussion. The economy is killin it right now, but not many people are better off for it. We're just waiting for the plebes to realize that Obama hasn't ruined the economy, so they'll stop babying business.
 
2013-01-17 05:48:34 PM

max_pooper: StokeyBob: We on the same planet?

If you double the money supply, sure your Uncle Phil gets twice as much for his stocks, but it is twice as many of something worth half as much. Oh and don't forget those capital gains taxes on the illusion of a gain.
Super Dollar

That is a very simplistic look at inflation's relationship with the money supply and does not hold water as evident by the lack of inflation we have experienced during the monetary expansion policies of the last several years.


QE isn't inflationary. Look at Japan. They've been doing QE for TEN YEARS, and were stuck in a deflationary cycle.
 
2013-01-17 05:52:06 PM

BonesJackson: Hydra: Wall Street has more to owe to Uncle "Printing Press" Ben for that than anything.

[i.imgur.com image 268x423]
You may not like his financial policies, but he puts out a good product.


farm6.staticflickr.com

If the markets stay up, who cares when they come down?
Zat's not my department, in auld Washingtown...
Disclosure: I like the guy and his policies, but that doesn't mean I can't laugh about it.
 
2013-01-17 06:11:04 PM

Debeo Summa Credo: StrikitRich: When you take office during a market crash, the recovery you inherit is rally just a given with time.

DJIA:

Jan 2, 2008 13,261.82

Jan 2, 2009 8,772.25

Jan 2, 2013 13,104.30

Same with the economy. Obama wasn't to blame for unemployment spiking in the months after he came to office, and he's not responsible for the increasing employment since then.


Vote Romney!
 
2013-01-17 06:35:06 PM

James F. Campbell: sheep snorter: //As per the Libertarian platform: The rich who got rich by hurting people shall have their wealth redistributed back to all. (guillotine optional)

I can't think of a single libertarian on Fark who believes that wealth should be distributed. Libertarians are generally corporatists in disguise who think that those wealthy people earned every single penny and don't deserve to have any increase in taxes whatsoever.


If you attained your wealth by sole virtue of your connection to government then yes, your gains are ill-gotten.

Brainsick: I don't think you are. If we focus our efforts on a sort of new New Deal, we could create jobs, strengthen American transportation, increase tourist revenue (National Parks) and construct/improve schools and hospitals. I'm honestly not sure why this hasn't been discussed yet.


Because it wouldn't create jobs.

max_pooper: lack of inflation


Prices are up for just about everything, to go along with an increase in the money supply but there is low inflation as measured by the treasury thanks to clever accounting. They pull the same trick with the unemployment rate.

If you're paying more for everything, cant save and commodity prices are up, the dollar is inflated.
 
2013-01-17 06:47:50 PM

StrikitRich: It's the same as when they try to claim that gasoline prices have spiked since he took office, they just recovered along with the economy. The continuing devaluation of the Dollar by the Fed hasn't helped, though.


'Splain, Lucy.

If the dollar were being devalued we'd have above-normal inflation.

2.bp.blogspot.com

And the government would have to offer higher and higher interest rates to be able to keep borrowing.

l3.yimg.com

Is it possible you're, I dunno, WRONG?
 
2013-01-17 06:53:28 PM

Contents Under Pressure: I'm not rich, however, I could see the writing on the wall in Feb of 2009. I put 5K into the stock market and that stock has gone up 22%. Not a lot, but noticeable and enough to make me very obnoxious with my conservative FB friends.


I started at my new firm at about 2007, and started getting company matching on my 401k in 2008. I decided to go with "super risky" overseas investments at that time. I've averaged between 26% and 35% annual returns since then. Thanks to the Bush recession and Obama boom, I now have more money put away for retirement, at age 30, than most Americans have at 65.

/no snark
 
2013-01-17 07:01:50 PM
i18.photobucket.com
 
2013-01-17 07:22:32 PM

MrSteve007: Contents Under Pressure: I'm not rich, however, I could see the writing on the wall in Feb of 2009. I put 5K into the stock market and that stock has gone up 22%. Not a lot, but noticeable and enough to make me very obnoxious with my conservative FB friends.

I started at my new firm at about 2007, and started getting company matching on my 401k in 2008. I decided to go with "super risky" overseas investments at that time. I've averaged between 26% and 35% annual returns since then. Thanks to the Bush recession and Obama boom, I now have more money put away for retirement, at age 30, than most Americans have at 65.

/no snark


Oh so you save up $2.50 Congrats!
/joke if only it was not so true..
 
2013-01-17 08:03:20 PM

MyRandomName: Can you retards stop this shiat. Presidential policies and direction is one factor in stock market performance.

Analyze if his policies helped or hurt, stop claiming them the major factor in economics.

Both sides.

It is idiotic.


If it's so idiotic why have you expended so much energy since 2010 trying to convince everyone that Obama was going to destroy the economy any day now?

Oh, right.

Because you're a horrible, unapologetic liar and you think you can flip-flop your rhetoric at a moment's notice when your last bit of far-right nattering becomes too obviously wrong...
 
2013-01-17 08:26:38 PM

El Pachuco: StrikitRich: It's the same as when they try to claim that gasoline prices have spiked since he took office, they just recovered along with the economy. The continuing devaluation of the Dollar by the Fed hasn't helped, though.

'Splain, Lucy.

If the dollar were being devalued we'd have above-normal inflation.

[2.bp.blogspot.com image 340x224]

And the government would have to offer higher and higher interest rates to be able to keep borrowing.

[l3.yimg.com image 310x219]

Is it possible you're, I dunno, WRONG?


When you make the rules for how inflation is calculated, it is easy to keep the numbers low. RE: Unemployment.
Look around you. Food prices are up. Rent is up. Education is up. Healthcare is way up. Utilities are up. The money supply is demonstrably increased. Savings are down.

That is inflation. The average joe 6-pack isn't able to make billion-dollar purchased of T-notes to offset the rising prices of food, gas and rent.
 
2013-01-17 08:43:57 PM

MrSteve007: Contents Under Pressure: I'm not rich, however, I could see the writing on the wall in Feb of 2009. I put 5K into the stock market and that stock has gone up 22%. Not a lot, but noticeable and enough to make me very obnoxious with my conservative FB friends.

I started at my new firm at about 2007, and started getting company matching on my 401k in 2008. I decided to go with "super risky" overseas investments at that time. I've averaged between 26% and 35% annual returns since then. Thanks to the Bush recession and Obama boom, I now have more money put away for retirement, at age 30, than most Americans have at 65.

/no snark


What's volatility?
 
2013-01-17 09:01:24 PM

Grand_Moff_Joseph: Dow Jones Industrial Average
Then: 7,949.09 (close as of Jan. 20, 2009)
Now: 13,534.89 (close as of Jan. 15, 2013)

Gross Domestic Product
Then: -5.3% (1st quarter of 2009)
Now: +3.1% (3rd quarter of 2012)

Consumer Confidence (1985=100)
Then: 37.4 (Jan. 2009)
Now: 65.1  (Dec. 2012)


Clearly, this has been the worst four years of Wall St.'s life.  I can't see how it can get any worse for them.


Yeah, inflation from pumping all our children's futures into the banks really helps the stock market. And I suppose if he can own the gain in the S&P since 2009 he can own this too:
www.powerlineblog.com
 
2013-01-17 09:19:47 PM

o5iiawah: When you make the rules for how inflation is calculated, it is easy to keep the numbers low. RE: Unemployment.
Look around you. Food prices are up. Rent is up. Education is up. Healthcare is way up. Utilities are up. The money supply is demonstrably increased. Savings are down.

That is inflation. The average joe 6-pack isn't able to make billion-dollar purchased of T-notes to offset the rising prices of food, gas and rent.


So it's the double-secret invisible inflation that really matters, you say? The kind you can't demonstrate quantifiably, but you know it in your GUT?

/conspiracy theory means never having to show proof
//faith-based economic theory is a kind of economic theory
///there's a reason I have you tagged as "austrian school dipstick"
 
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