2/17/2009

For Those With Eyes to See

DOW -297.81 -3.79%
7,552.60

NASDAQ -63.70 -4.15%
1,470.66

S&P 500 -37.67 -4.56%
789.17

Of course, the duckling will say this has nothing to do with us throwing $787,000,000,000 into the rancid winds of change today. It's interesting to me that this is how the market reacts to EVERY major step in Barack Obama's presidency.

18 comments:

Pinky said...

How long ago was it that the Dow was over 11,000?

wow.

Papa Frank said...

Pinky -- the answer to that would be ONE president ago. ;0)

Chuck said...

Wish he would stop "fixing" things, I would like to retire someday.

Brooke said...

Gee, do you think the market sees massive inflation on the way?

Nah, nothing to see here, huh, Dems?

Pinky said...

Exactly.

Z said...

I don't think we'll ever get used to seeing quite that many o's, do you? MAN.

I guess this is what a guy who's a great big ZERO perpetuates and wastes....lots more O's.

Michael said...

On the plus side, if this continues or another 4 years, we can rid of him....

Takes a real squint to see the silver lining....

Ducky's here said...

How long ago was it that the Dow was over 11,000?

--------------------

That was at the end of the Clinton administration. Then we got a ride due to the bubble economy and the over valuation of the banking sector. It was all smoke.

So now, what people like yourself and Frank, DO NOT UNDERSTAND is that we are returning to a more realistic valuation of assets.

In order for the market to gain value we have to create real assets, not the fake paper that Bush created. The stimulus package can do that but IT TAKES TIME.

Okay, got it. Now I don't expect the right to listen to reason but I try. I know that the right lives scared and they are going to want a quick fix to this freakin' mess their heroes created.

Sorry, THERE ARE NO MORE SUGARPLUMS! (Samuel Beckett)

Either start trying to understand this or continue to support the policies that got us hear and will create a LARGER bubble if you try to reflate it quickly. Act in your own interest for once.
Right wingers make me crazy.

FJ said...

A more realistic valuation of assets...?

Every time a commodity is traded it's traded price represents a 'realistic' albeit almost instantaneous 'unrealistic' and outdated valuation of assets, mr. ducky.

Nobody knows what the future will bring, mr ducky. And a 'realistic valuation' absolutely depends upon such foreknowledge.

It's always ALL smoke, mr. ducky, only yours is a little thicker at the moment than most.

FJ said...

They could let in three or four million immigrants tomorrow, and the current housing glut would instantaneously transform itself into a housing shortage. Now if you did your financial background checks right and made "good" loans and didn't have too generous a Section-8 housing support program and welfare program for new immigrants, you might be able to temporarily support current housing prices and prevent further mortgage market collapse while foreclosing on all the bad loans and replacing them w/good ones.

But hey, what are the REAL chances of THAT ever happening?

FJ said...

Nope There wasn't much immigration in the years leading up to 1930 and through the 40's, was there. I wonder if THAT had anything to do with the "Great Depression".

Ducky's here said...

Nobody knows what the future will bring, mr ducky. And a 'realistic valuation' absolutely depends upon such foreknowledge.

-----------------------

So we value home mortgages in the belief that housing values, defying all experience, will continue to rise at a rate never before seen?

The scammers knew that was bullshit.

Ducky's here said...

But hey, what are the REAL chances of THAT ever happening?

----------------------

You mean artificially reflating the bubble? I think it's at least 50-50.

Pinky said...

Good for you, FJ.
I was just gonna tell Ducky to go change his underwear.

I'm listening Ducky, but you sound like Charlie Brown's teacher.

So Bush created fake paper..not real assets? Hmmmm. And this trillions of dollars of 'stimulus' is WHAT exactly? Hard earned?

::good grief::

YOU drive ME crazy!

Hey, I don't blame our entire economic meltdown on Obama. That would be silly. But to think that the stimulus (PORK) package is going to set us straight is just insane.

Create real assets with the stimulus package? How? Those jobs will be temporary and you know it. Dumb people will go out and buy some piece of crap from China, which won't help our economy at all. I plan on making an extra house payment. I don't see how that will help our economy, either.
How's it gonna help?

It's so frickin' stupid it makes me wanna spit. :spit:
There, I spat. ;-)

WomanHonorThyself said...

subsidies for everyone!..good grief!!!!!!!!!!

cube said...

I'm with Pinky. It makes me want to spit. When there is no work for people who fervently want to work, now that's a problem. This dopey bill doesn't create enought jobs.

Ducky's here said...

Pinky, let's say part of the package goes to developing high speed rail. You know, the stuff they have in Europe, Japan and generally advanced countries?

Now, streamlining our transportation system makes us more efficient, no?

The projects are permanent, private capital couldn't have built them and they represent a long term benefit.

Now, you don't blame the economic meltdown on Obama, a man who has been in office for a month. Duh!!!! Really, are you new?

Papa Frank said...

I guess you haven't seen the market's opinion of Obamanomics, duckling? Sheesh you are amazing at ignoring actual tangible facts that sit right before your eyes. Numbers don't lie, duckling. Socialism is bad business pure and simple.