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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (85114)	11/8/2010 2:47:39 PM
From: tejek	Respond to of 149317

I give him lots of credit. But I also can see he has big blind spots. We all do and they must be pointed out. You have NO objectivity on this subject at all. I guess not.

To: koan who wrote (85114)	11/8/2010 3:03:46 PM
From: tejek	Respond to of 149317

This is what Cramer has to say about Obama.....and trust, Cramer and the rest of Wall Street are not fans. If you don't think Obama has had a negative impact on Wall Street and health care companies, you are very mistaken. "What's going to happen in Congress? Just watch the stock market. The stock market has been so right about what will happen that it's uncanny, as uncanny as the prognosticators have been wrong. I get a huge amount of input from hedge fund managers about what they think Washington will do. There are a huge number of services that provide people with insight about how politics will impact stocks. Almost all of it has been worthless. For example, almost every single predictor who emailed or spoke with me said not to worry about how health care reform would work out. Health care reform was a disaster for the health care companies. An effective no-holds-barred evisceration of these companies, even as the people who said it wouldn't happen insisted it wasn't happening or it didn't matter. Classic obfuscation when you are wrong. They still deny it. But the stocks didn't lie. Then when financial regulation came along, a new group of prognosticators told me not worry, that it couldn't really hurt the banks. That there would be no structural changes. Again, totally and completely wrong. Again, a total evisceration and a breakup and tossing of some of the most serious profit-making divisions, something that set back the group severely. Again, rather than admit they were wrong, they simply said it didn't matter or that everything is still hunky dory. Nothing could be further from the truth. The stocks didn't lie. They wrecked peoples's performances. The managers are still trying to recover. (I think the reason the banks seemed to have bottomed is that they are sold out and volumes for businesses are now better, coupled with quantitative easing that gives them net interest margin. But there is no denying that Congress hurt profit margins SEVERELY.) Now we are told that there could be compromise in Washington and that everything will be better for stocks. But that's not why stocks are going up. They are going up because of international earnings. There will be no compromise, and the market is saying it doesn't even matter -- that's how strong profits are. Of course, now we are hearing that the Republican governors are going to make it better for health care providers. The stocks are not saying that at all. They are saying that Obama is still very powerful and the Dems' work cannot be undone. Again, I believe the stocks. The commentary is simply unhelpful; the stocks, a great beacon to the truth. Still the seers won't stop. They are a continual source of misdirection. They tell you that there will be tax breaks or that the companies overseas may be able to repatriate profits ... blah blah blah. I reiterate that as long as Obama is president, nothing good will come out of Washington. But because of the Republican reach in the House, much will not get done. That's pretty much what stocks are saying. I simply wish SOMEONE would admit that they got it wrong -- someone in the food chain. I guess it's not going to happen. It simply pays not to listen. That's the best way to make money."