"The only common sense in the government lies with a group of individuals in the house (mostly Republican)..."
For a brief moment, when I found out that they were among the few in congress standing up against the first TARP fiasco, I was of a similar opinion. But then I found out their main gripe was that they thought the solution was to undo even more of the little regulation of corporations left on the book or still enforced.
Clearly, these guys are the blindest of the blind bats leading our government. They have sailed the ship of state off the face of the earth and are now blaming Obama for not being able to steer it back to calm waters.
PeakOil is You
Dow index value less than half its peak
Re: Dow index value less than half its peak
by dohboi » Sat 28 Feb 2009, 15:40:15
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dohboi - Harmless Drudge
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Re: Dow index value less than half its peak
by yesplease » Sat 28 Feb 2009, 18:26:01
$this->bbcode_second_pass_quote('Fishman', 'E')xcellent post Cid. The market, looking for any leadership, any stability, sees Obama. Every time he speaks the market crumbles. The best stim plan would be for him to take another Hawaii vacation. Though no fan of the rich, the simple fact is the market creates jobs. We are so screwed.
It tends to be the other way around. The market is a good indicator of the economy and jobs, as opposed to the economy and jobs indicating the performance of the market because it creates them. If the market was really that good at creating, and conversely losing, jobs, then when the market fell to ~25% of it's value in 1932, employment should've also fallen to ~25%, but it's low was at ~75%. While the market does create some jobs, since every business endevour does, it's performance for the most part is based off of how the economy as a whole is doing.$this->bbcode_second_pass_quote('Professor Membrane', ' ')Not now son, I'm making ... TOAST!
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yesplease - Intermediate Crude
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Re: Dow index value less than half its peak
by joewp » Sat 28 Feb 2009, 21:01:03
$this->bbcode_second_pass_quote('TWilliam', '')$this->bbcode_second_pass_quote('joewp', 'J')ust to inject some reality...
You are of course right, Joe. Tho' that doesn't stop a goodly number of of idiots from insisting that it has absolutely nothing to do with anything. After all, math is "just more leftist alarmist conjecture." What a f*cking moron...
Oh, you read that post on my site.
If you read further you'll find out that guy works at a refinery and is convinced that we just need more refining capacity to handle all the heavy crude in Venezuela and that will solve all our problems and it'll be back to steady growth.
Speaking of the Dow(n), I just read Buffet's letter to shareholders, and he seems to think this downturn will last a couple of years at most, and we'll be back happily growing again. Even fairly intelligent people are taken in by the growth addiction.
Joe P. joeparente.com
"Only when the last tree is cut; only when the last river is polluted; only when the last fish is caught; only then will they realize that you cannot eat money." - Cree Indian Proverb
"Only when the last tree is cut; only when the last river is polluted; only when the last fish is caught; only then will they realize that you cannot eat money." - Cree Indian Proverb
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joewp - Intermediate Crude
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