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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: michael97123 who wrote (461035)	3/4/2009 12:14:42 PM
From: bentway	1 Recommendation Read Replies (1) \| Respond to of 1576171

I think we're in for some bottom testing gyrations until Obama's stimulus begins to really come online. Investors have to begin to have confidence in bank stocks, and banks have to begin to have the confidence to lend to people without 800+ FICO scores and above average jobs. THEN it'll be over and we'll be in recovery. My goal is capital preservation followed by depressed equity purchases, including a new (used) house.

To: michael97123 who wrote (461035)	3/4/2009 1:39:40 PM
From: longnshort	Respond to of 1576171

MESSAGE OF DISMAY "As 2009 opened, three weeks before Barack Obama took office, the Dow Jones Industrial Average closed at 9,034 on January 2, its highest level since the autumn panic. [On Monday] the Dow fell another 4.24 percent to 6,763, for an overall decline of 25 percent in two months and to its lowest level since 1997. The dismaying message here is that President Obama's policies have become part of the economy's problem," the Wall Street Journal said Tuesday in an editorial. "Americans have welcomed the Obama era in the same spirit of hope the President campaigned on. But after five weeks in office, it's become clear that Mr. Obama's policies are slowing, if not stopping, what would otherwise be the normal process of economic recovery," the newspaper said. "From punishing business to squandering scarce national public resources, Team Obama is creating more uncertainty and less confidence - and thus a longer period of recession or subpar growth. ... "So what has happened in the last two months? The economy has received no great new outside shock. Exchange rates and other prices have been stable, and there are no security crises of note. The reality of a sharp recession has been known and built into stock prices since last year's fourth quarter. "What is new is the unveiling of Mr. Obama's agenda and his approach to governance. Every new president has a finite stock of capital - financial and political - to deploy, and amid recession Mr. Obama has more than most. But one negative revelation has been the way he has chosen to spend his scarce resources on income transfers rather than growth promotion. Most of his 'stimulus' spending was devoted to social programs, rather than public works, and nearly all of the tax cuts were devoted to income maintenance rather than to improving incentives to work or invest. ... "The market has notably plunged since Mr. Obama introduced his budget last week, and that should be no surprise. The document was a declaration of hostility toward capitalists across the economy."