Will Obama fix the economy?

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To all the people that said Obama will fix the economy: you make me laugh

As for making the economy recover, Obama so far has not done a thing that will help (his stimulus package is garbage). Not only that, but we're so deep in the muck, that nobody could "fix" this in 4 years.

Our horrible debt-based financial system has given the economy quite a bout of diarrhea that won't pass for quite some time. I know Obama isn't going to fix our financial system, either. So in no sense of the word will our new president "fix" the economy. If he did something to get rid of fractional reserve banking though, THEN I'd have some hope (but everyone knows he won't).

If anyone still doubts that the White House can have a negative effect on the stock market, I remind you to take a look at the performance of medical stocks in reaction to the Obama budget. Up till now, they've been outperforming the economy, but in the past few days they've gone doooown. Merck, holding fairly steady till now lost 7% just yesterday and 13% since opening on Thursday. Pfizer? Down 10% from close on Tuesday. I'm not sure how the Alternext Biotech and Pharmaceutical indexes are done, but they decline well ahead of the rest of the other major indexes yesterday (except for one for banks of course), despite performing significantly better YTD. Reason for this is being widely attributed to the anticipated damage that 'Bam's healthcare reforms will do.

Now, one might argue that this is entirely acceptable, but I think it pretty well demonstrates that at this point the White House is having a very real effect on the way the stock market is going.

This is a mistake I see far too often.

Obama does nothing of the sort, OP. He is the President. His job is to enforce the law.

Congress makes the law. Congress has the power. Whatever happens as a result of the most recent gov't spending, it's entirely, and wholly, Congress's fault.

The inevitable question of veto is a funny one, and my response is as follows: George Washington made it a point to never veto anything unless it was unconstitutional. He saw it that congress is the voice of the people, and if it's the people's will, then the people's will be done - to whatever end. So, I can never blame Obama for not vetoing something unless it's unconstitutional, as I agree with Washington's stance. If you don't like what Congress does, vote for a different congressmen in 2010.

DJIA at 6924 now, 100 points lower than when I started this thread.

The problem with Obama's philosophy (and it's certainly not his alone) is that he sees important businesses with financial deficits, and thinks, "Well, they need more money. If they get money to replace their losses, everything will normalize." Sounds okay in theory, but the flaw in that reasoning is that America's economy survives on confidence, not a few random infusements of cold hard cash, however great. So, by giving out these random infusements of cash to failing businesses, Obama is actually eroding America's confidence in the health of its ecomony, and, thereby, eroding the ecomony itself. And so, down goes the Dow. Obama's and the reigning Democrats' policy is the filling-a-leaky-barrel-with-water solution. It just won't work until you actually fix the holes.



http://www.foxnews.com/politics/2009/03/02/pumps-b-aig-insurer-posts-biggest-loss/

Dow below 7000!
*Sings* It's the end of the world as we know it...

6849....

If things don't turn around, then we may end up in a Rush Limbaugh dictatorship.

Should The Government Stop Dumping Money Into A Giant Hole?

[youtube]http://www.youtube.com/watch?v=JnX-D4kkPOQ[/youtube]

That was a good one

I think we've finally identified the problem.

the poll is biased. it takes the basis that obama has made it a goal to fix the economy, and that he is failing as a president.

obama is not trying to fix the economy. its not in his power to fix.

down over 200 points today... before now, I could always tell myself "At least the Dow hasn't broken 7000". And the S&P 500 is doing even worse.

6800

I'm hearing a SSSSSSSssssssss, and seeing a giant red, white, and blue raft deflating.

Down 300! But there's still 15 minutes left! Who knows what'll happen!

It's like a train wreck; I can't stop looking. Cursed snow days