As The Obama Turns

Great, either Obama hasn't a clue what he really thinks. Or perhaps he ran so he could pull the world's largest ever stock scam over the next four years.

Q: Would you put it past him at this point?  

Now you tell us: What do you know? The crisis is not as bad as we think! (DIRE EMERGENCY CANCELLED, comments Drudge). I feel better already! (this is more of that poor salesmanship at work) Talk about unsteady!

Comments

[mark l.]

"The crisis is not as bad as we think!"

so when limbaugh said he wanted obama to fail, it was in the face of the next great depression.
but when obama wants to market to stabilize, everything's gonna be alright?

let me take a wild guess...
he didn't have a teleprompter. he wasn't sugesting the fundamentals of the economy are getting stronger in the face of rising unemployment, was he?

[mark l.]

as a long shot for correlation, my guess is that when the dow hit 10k and holds, unemployment will also peak, and begin to decline.

a reasonable goal might be for the obama admin to do everything they can to push the dow back up, including major policy shifts. The markets are the barometer of how the country at large is doing, moreso than the conditions in 1930's. Over half the country holds stock in some from or the other, a significant improvement, and vulnerability, to FDR's crisis.

The problem is that obama has already laid down markers on carbon tax, universal healthcare, and increased taxation.
Too much pride for him to life even one of these onerous ventures.

[Philip McDaniel]

I sense a short circuit somewhere in the android. Either
1. His teleprompter link to the mainframe is broken.
2. He has inadvertently gotten his frambulator wet.
3. He has gone nuts.
4. All of the above.

[WBestPresidentEver]

The carbon tax issue really bothers me. I cannot even image how much my power and gas bills will be it passes. I just got my two bills in yesterdays mail.
300.00. And, I live in th south where it has not been that cold this year.
We have one power company in the state and all our energy comes from coal fired plants. We do not have a choice in the matter. I try not to run my gas furnice for heating as it requires electricty to run. I have a gas water heater, dryer and stove. I just do not see how people are going to make ends meet if this damn tax passes. The power company will just pass it on to the consumer.
All those so called tax reductions people are supose to get, will not even cover the difference people will be charged.
Things will only get worse.
Wish this clown could be impeached along with the house and senate.

[13yankeebravo]

I saw some bloggers wondering if this is someone setting up the market as a sucker market to suck in as much uncommitted money and then short the market.

[seekeronos]

I've of a mind now to keep a good portion of my savings in gold and energy infrastructure (pipelines and transport, not in mining and extraction)... and the rest in very liquid cash funds - for trading on the very short term as needed.

I think the pitfall has been dug, the snares set, and after the markets recover to around 8500 or maybe even 10k... everything will get shorted and tumble us down to around 2500-3000, taking most of the planet with us.

Dr. Takahiko Soejima predicted last year that we'd see a 3000 point DJI, and a dollar trading at 60 yen or less... and the yen, folks... is by no means a stellar currency (but compared to the dolar, it will be smelling like roses).

Then, the only safe bet will be gold and silver, especially coinage which seems to be a bit more fungible than bullion.

Or worse... guns, ammo, canned food and purified water.

[anon]

I thought that these Bear Market rally were already unofficially known as sucker's markets, and that anyone who goes back in during one of these short lived rallies was asking for it, so to speak...that you had to see several months of stability and/or uptick before you could be certain the bottom would hold.

I think it goes to show how bad things are that a 3 day rally which only makes up some of the losses over the last 3 months is being latched onto as a great/wonderful sign and turning point.

Seek, I don't think the Dow will falsly rally back that high, hell, if it gets back up to 8000 I will pull ALL my money out for good. But I agree, it may not bottom out until it hits 3000.