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DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 1:12:00 PM   
rulemylife


Posts: 14614
Joined: 8/23/2004
Status: offline 		Maybe Obama's socialist economic policies aren't ruining the economy after all.



Dow Jones industrials cross 10,000 for 1st time in a year


NEW YORK – The Dow Jones industrial average has reclaimed 10,000 for the first time in a year. The Dow crossed five figures in afternoon trading Wednesday, seven months after it hit a 12-year low of 6,547.05 on March 9. The comeback by the stock market's best-known indicator is the most visible sign yet that investors believe the economy is indeed recovering from the financial crisis and recession.
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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 1:14:46 PM   
mnottertail


Posts: 60698
Joined: 11/3/2004
Status: offline 		He will only recieve credit when it goes down.

John F. Kennedy

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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 1:23:16 PM   
servantforuse


Posts: 6363
Joined: 3/8/2006
Status: offline 		The Dow is up today because of the financials and the banks. Lets give Bush the credit for saving the banks with his stimulus over a year ago.

(in reply to mnottertail)
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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 1:39:32 PM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		your kidding me, right?  the conservatives have whined on these boards about how much money OBAMA has spent since being in office... over and over we have pointed out how much they BOTH have spent.. and now you want to claim credit in the name of BUSH when something goes right?

why am i not surprised.

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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 1:39:48 PM   
kittinSol


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quote:

ORIGINAL: servantforuse

The Dow is up today because of the financials and the banks. Lets give Bush the credit for saving the banks with his stimulus over a year ago.




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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 1:44:49 PM   
rikigrl


Posts: 203
Joined: 5/14/2009
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quote:

ORIGINAL: servantforuse

The Dow is up today because of the financials and the banks. Lets give Bush the credit for saving the banks with his stimulus over a year ago.


O
M
G

(in reply to servantforuse)
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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 1:48:48 PM   
Hillwilliam


Posts: 19394
Joined: 8/27/2008
Status: offline 		4.6 Billion years from now, the sun will cool down

The Republicans will blame Clinton

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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 1:53:17 PM   
Mercnbeth


Posts: 11766
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quote:

ORIGINAL: kittinSol
quote:

ORIGINAL: servantforuse
The Dow is up today because of the financials and the banks. Lets give Bush the credit for saving the banks with his stimulus over a year ago.


According to this source These are 'Bush' results.
quote:

rulemylife:
The AIG and bank bailouts occurred under Bush and he also set things in motion for the auto industry bailout.

quote:

US Financial Recovery Plan Passed by CongressUS Financial Recovery Plan Passed by Congress. 07 Oct 2008 ... Troubled Assets Relief Programme (TARP) - the $700bn US recovery plan to buy troubled assets
Who am I to argue?

Personally, I'm grateful the the US government bought out a large portion of the bad debt of the financial institutions. I still had some BoA I couldn't unload until today.

Great Job Bush & of course thanks to the Nobel Laureate - Bush II! (I mean President Obama)

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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 1:55:06 PM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		LOL

at times, you are incredibly cute, Merc

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Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

(in reply to Mercnbeth)
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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 1:57:30 PM   
Thunderbird56


Posts: 87
Joined: 11/19/2005
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quote:

ORIGINAL: Hillwilliam

4.6 Billion years from now, the sun will cool down

The Republicans will blame Clinton


...And the Democrats will blame Bush ... and the circle goes round and round.
Here's a novel idea, lets give the, whatever is left of it that is, free market some credit.

(in reply to Hillwilliam)
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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 2:26:56 PM   
Moonhead


Posts: 16520
Joined: 9/21/2009
Status: offline 		I think everybody's giving the free (and unregulated) market credit for wrecking the economy in the first place.

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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 2:34:52 PM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		i give the market credit for not policing itself more firmly, for being incredibly greedy and putting us in this position to begin with.

i give the government... all of them... credit for allowing this to happen... regardless of what administration... and i also give them credit for stepping in with the attempts to correct, belatedly, the errors of their past.

i also give the people credit for not panicking.  i give the Fed Reserve credit for watching patiently and not giving into knee jerk reactions.

i find fault with both administrations for giving away money to people and companies who abused the monies, and the peoples' trust, without strings.

i give the administration some credit for trying to correct that mistake now.

lots of fault, blame and credit, both ways, to go around for everyone.

_____________________________

Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

(in reply to Moonhead)
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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 2:43:30 PM   
servantforuse


Posts: 6363
Joined: 3/8/2006
Status: offline 		If you guys are saying that the stimulus worked, then it worked. I'm just saying that Bush had the first stimulus. Maybe they both deserve credit, not just Obama.

(in reply to tazzygirl)
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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 2:45:05 PM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		ahem... i do believe that is what i said

_____________________________

Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

(in reply to servantforuse)
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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 2:53:44 PM   
rulemylife


Posts: 14614
Joined: 8/23/2004
Status: offline
quote:

ORIGINAL: Mercnbeth
According to this source These are 'Bush' results.
quote:

rulemylife:
The AIG and bank bailouts occurred under Bush and he also set things in motion for the auto industry bailout.



As long as you are quoting me then realize I have consistently supported the bailout of the banks from the beginning.

I believed then, as I do now, there was no other choice to avoid a complete financial meltdown.

What I disagreed with was the way it was implemented and the lack of any oversight on where the bailout funds were going.



(in reply to Mercnbeth)
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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 2:56:57 PM   
rulemylife


Posts: 14614
Joined: 8/23/2004
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quote:

ORIGINAL: servantforuse

If you guys are saying that the stimulus worked, then it worked. I'm just saying that Bush had the first stimulus. Maybe they both deserve credit, not just Obama.


It wasn't a stimulus.

It was a bailout loan package.


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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 3:04:14 PM   
rulemylife


Posts: 14614
Joined: 8/23/2004
Status: offline
quote:

ORIGINAL: servantforuse

The Dow is up today because of the financials and the banks. Lets give Bush the credit for saving the banks with his stimulus over a year ago.


The Dow has been steadily climbing for months.

The Chase Morgan profit report and Intel's profits (which last time I looked wasn't a financial company) drove it over the 10,000 mark, but it has been hovering between 9,400 and 9,800 for a while.

So let's not pretend this a sudden spike driven by the bank recovery.

(in reply to servantforuse)
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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 3:12:47 PM   
Mercnbeth


Posts: 11766
Status: offline
quote:

As long as you are quoting me then realize I have consistently supported the bailout of the banks from the beginning. I believed then, as I do now, there was no other choice to avoid a complete financial meltdown.
Good for you! My apologies for thinking otherwise. I guess I just never realized until now what a big Bush Administration economic policy supporter you are.

Just in case there is any doubt. I was, am, and will ever be against any bail out and reward for failure. I knew there were many other options, the simplest of which would have been to let the failures fail and have the valuable parts of them sold off to the survivors, enabling both the survivors, and the economy to seek its own level while not burdening the next 3-4 generations with paying off the created deficit. Who knows - maybe a national health care program could have been funded with that money.

Although these bail outs served me well, they didn't serve the country. They are a direct cause of the current state of US economics. Unemployment, dearth of investment capital, devaluation of the dollar compared to world currencies, and the resulting rise in US dollar cost of oil and hard currency; are the consequences.

Hey, being a 'bottom line' kind a guy - I put my money where my opinion was and it's worked out great. I leave for Italy in a week with a nice DP for my retirement property. Hope you did something similar. As far as the stock market goes - those AIG and other executives had to put their bonus money somewhere. I know a few who are grateful for the tax dollars they received, without which they'd have to put their Catalina property up for sale. I'll pass on your congratulations and best wishes.

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RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 3:15:34 PM   
tazzygirl


Posts: 37833
Joined: 10/12/2007
Status: offline 		I beg to differ that they didnt serve the country well.  North Carolina researched how much the AIG failure would have hurt that states economy.  1 billion dollars later, and NC was exceedingly happy AIG was bailed out.  And that was just one state that AIG was underwriting policies in, there are many others.

_____________________________

Telling me to take Midol wont help your butthurt.
RIP, my demon-child 5-16-11
Duchess of Dissent 1
Dont judge me because I sin differently than you.
If you want it sugar coated, dont ask me what i think! It would violate TOS.

(in reply to Mercnbeth)
Profile   Post #: 19
RE: DJ industrials pass 10,000 for 1st time in a year - 10/14/2009 3:20:33 PM   
Mercnbeth


Posts: 11766
Status: offline
quote:

North Carolina researched how much the AIG failure would have hurt that states economy.

I have some very close friends at BB&T. They were prepared to buy the AIG assets in question. Instead they bought over $1 Billion of distressed assets from another troubled Bank at the behest of the Administration. The second bank would have survived anyway albeit at a lower book value. But why do that when tax money is offered instead?

My point is simple. There WERE privately funded alternatives, that wouldn't have cost a dime of tax money. However, when it was offered - the failure companies and their executives took it instead. Can't say I blame them. They were getting payback for their PAC money. They still are.

(in reply to tazzygirl)
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