Thread: Obama Speech #149 - Pitches Jobs Bill in Ohio

Originally Posted by soot

Or 6000 points higher than it was at the lowest point during his term?

I don't think one really has anything to do with the other.

President Obama hasn't really done anything to terribly hurt the economy other than to not have done anything to really help the economy.

It's just been kind of lumbering along beneath him and slooooooowly climbing because that's the natural condition of the market.

In the lead up to one of his economic/jobs speeches it spikes a little, as investors will always be hopeful that something he'll say might be beneficial to the economy. He's the President of the United States after all and as such wields considerable power.

But once it becomes clear that he's just given another campaign speech, devoid of any real substance, folks pull back again.

Soon thereafter folks dip their toes back in the pool and then inch in.

In my opinion anyhow. But I'm not really a "right winger" and I don't think the president has as much influence over the markets as many people seem to attribute to him. He could, but he generally doesn't, and this goes for all presidents, not just President Obama. Except for a few exceptions it seems to be that when the president lets the market do it's own thing it does just fine and when the president applies artificial forces to the market he either fucks it up or he inhibits growth.

I actually don't get the sense that Obama's speeches on the economy have any actual effect on the stock market, one way or the other... nor should they. As to the most recent one, the plan offered by the president recently is actually pretty good — smaller than it should be, but it would help... except, of course, it will, like anything and everything he proposes, be shot down by Republicans who have no interest whatsoever in an economic recovery at this point in political time, so it's pretty much an exercise in futility.

And credit where credit is due: Obama did save the U.S. economy from complete meltdown, averted a depression (so far) and successfully rescued the U.S. auto industry. Not enough, but not nothing, either.

Originally Posted by Forplay

I beg your pardon, Obscure, Dodd Frank bill, no control over the EPA and the NLRB, they have run wild under Obama. No drilling policy, giving money to states to keep union members employed, adds to our national debt like no president before him, this yr another 1.5 trillion added on the debt. I could go on but you get the idea. When it comes to the economy everything he as done has been a failure, that in itself is dragging the economy down. The best thing Obama could do is stay on vacation for the rest of his term and don't sign anything.

I'll second that. All in favor? (Now just making it stick )