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Prepare for severe disappointment.
Obama should have done what President Hoover did when he saw the economy going down the toilet. Laissez faire fixes everything.
Prepare for severe disappointment.
i will if it happens. i'm cynical, but will give credit where it's due.
Oh, he signed the Lily Ledbetter Fair Pay act. That was a good move, as the court case that led to the law seemed to be a dumb judgment.
Good thought, but that result is not logical considering the means being used to try and get us there.
Inside secret to blow your mind in 3...2....1....
Recovering the economy is not their goal.
Yeah, massive government spending is dumb. I mean look how bad it failed to get us out of The Great Depression. WWII cost us around 5 trillion (300ish billion at the time, inflation's a ). Crushed us didn't it?Good thought, but that result is not logical considering the means being used to try and get us there.
Inside secret to blow your mind in 3...2....1....
Recovering the economy is not their goal.
Obama thought like everyone else the economy would naturally recover. He bull ed everyone on that stimulus bill, played chicken little, threw in all the earmarks to help his buddies out and now that is has gotten worse he will not get that benifit of the doubt he has been getting from the common folks. There thinking he should have actually put together a stimulus package instead of putting together a bill to fund policy changes the dems could not get past over the years. Plus no way in the 5 million votes that put him over McCain thought Obama was this far left. Cap and trade equals BULL . That health plan is ing BULL .
The more I know about the stimulus bill, the more I realize we were duped. The more I know about Obama's health care the more I feel we are headed in the wrong direction.
He is not the moderate Dem I thought he would be when me and my spouse mistakenly jumped party and voted for him. Never again will we jump party to follow tax and spend liberals. This president is more socialist than I ever dreamed possible.
You forgot to throw a phobic slur into this post.
Dow tops 9,000 as home sales rise for 3rd month
Stocks extend rally after jump in home sales; Dow crosses 9,000 for first time since January
By Tim Paradis and Sara Lepro, AP Business Writers
On Thursday July 23, 2009, 12:02 pm EDT
NEW YORK (AP) -- The Dow Jones industrials are back above 9,000 for the first time since the beginning of January.
Investors are snapping up stocks across the market Thursday, sending major indexes up about 2 percent, after a report showed existing home sales jumped for the third straight month.
A 3.6-percent increase in June home sales has investors excited that the hard-hit housing market might be improving. The National Association of Realtors said sales came in at 4.89 million last month, above the 4.84 million analysts had been expecting.
Several better-than-expected earnings reports also helped boost investor sentiment. Ford Motor Co. surprised the market with a second-quarter profit of $2.3 billion due mainly to a huge gain for debt reduction, while drug maker Wyeth, cigarette maker Philip Morris International Inc. and candy maker Hershey Co. all raised their profit forecasts for the year.
Investors were able to look past a government report showing a bigger-than-expected rise in new jobless claims. The Labor Department said the number of new claims for unemployment benefits rose by 30,000 last week to 554,000, slightly above analysts' estimates. However, a Labor Department analyst said the report was distorted by the timing of auto plant shutdowns.
Also, total unemployment benefit rolls fell to the lowest level since mid-April.
After a month of wayward trading, stocks restarted the market's spring rally early last week after companies like Goldman Sachs Group Inc. and Intel Corp. got earnings season off to a good start with solid reports.
"Things are getting much better and the market is pricing it in," said Phil Orlando, chief equity market strategist at Federated Investors.
In midday trading, the Dow rose 174.20, or 2 percent, to 9,055.46. The blue chips last traded and closed above 9,000 on Jan. 6.
The Standard & Poor's 500 index rose 21.79, or 2.3 percent, to 975.86, while the Nasdaq composite index rose 43.64, or 2.3 percent, to 1,970.02.
Advancing issues outnumbered decliners by about 6 to 1 on the New York Stock Exchange, where volume came to 491.8 million shares, compared to 414.6 million traded at the same point Wednesday.
A wave of merger-and-acquisition activity also supported the market. Bristol-Myers Squibb Co. said it plans to acquire Medarex Inc. for about $2.1 billion, the latest in a string of acquisitions by the drug maker. Medarex surged $7.47, or 89 percent, to $15.87, while Bristol-Myers rose 35 cents to $20.64.
Meanwhile, Amazon.com Inc. agreed to buy Zappos.com Inc., a privately held online shoe store, in a deal worth about $850 million. Amazon rose $4.72, or 5.3 percent, to $93.51.
Ford's profit was a huge improvement over the record $8.7 billion loss the company reported the same quarter a year earlier. Without one-time gains, the car maker would have lost $424 million, or 21 cents per share. That is still smaller than the loss of 50 cents per share analysts had been expecting. Ford rose 63 cents, or 9.9 percent, to $7.01.
Wyeth posted a better-than-expected 13 percent jump in second-quarter profit, as cost cuts overshadowed lower sales. It rose 29 cents to $47.15.
Philip Morris said earnings fell 9 percent as the stronger dollar shrunk profit earned in other currencies. The stock jumped $2.64, or 6 percent, to $46.52.
And Hershey said its quarterly profit leapt 72 percent thanks to a price hike and a new advertising effort. The shares rose $2.18, or 5.6 percent, to $41.13.
AT&T Inc. and 3M Co. reported drops in earnings, but their results exceeded analysts' expectations. AT&T rose 21 cents to $26.11, and 3M rose $3.60, or 5.6 percent, to $68.27.
Bond prices fell, pushing their yields higher, as money flowed back into the stock market and out of safe-haven investments. The yield on the benchmark 10-year Treasury note, which is closely tied to home mortgage rates, rose to 3.65 percent from 3.55 percent late Wednesday.
The dollar mostly fell against other major currencies, while gold prices dipped.
Oil prices rose $1.44 to $66.83 a barrel on the New York Mercantile Exchange.
The Russell 2000 index of smaller companies gained 14.46, or 2.7 percent, to 543.16.
Overseas, Japan's Nikkei stock average closed up 0.7 percent. Britain's FTSE 100 rose 1.5 percent, while Germany's DAX index jumped 2.5 percent and France's CAC-40 rose 2.1 percent.
Since the dead enders have stated this is Obama's economy now shouldn't they be celebrating his economic policies? The economy is getting better regardless of what anyone states..
So let's see if any of you kool aid drinkers have any intellectual integrity to give Obama's policies props...
Or maybe you need to rethink this It's Obama's economy now' mantra...
Of course its getting better short term, I don't think that is the real concern with any of this, we threw hundreds of billions of dollars at the problem, lets see whether the economy actually gets fixed, with business models changing to match the change in peoples spending, or if we just continue on our path of being a credit driven society, where no one really pays off their debts. Long term, I still think that we are screwed economically, and the fall is just going to be that much harder now.
Although, for getting better, we still aren't seeing any real uptick in consumer spending, and we are still losing jobs, with not much if any increase in hiring.
How or when will we ever know if the economy is fixed? I am not trying to be a smart ass but seriously will we ever know?
From what I read, looks like a good law. I just hope it had no pork attached to it.
We won't. Its not like people can agree that the New Deal fixed the economy, or if WWII fixed it...
Things to look for in a fixed economy IMO, increased saving, moderate spending, decrease in debt, both government, corporate and personal. Increases in production of goods, starting to export more than we import. Increases in jobs. Gradual increases are better IMO.
The stock market isn't a great indicator to me... It was high for a long time, with a bad economic model that was doomed for failure, so if it increases, who cares.
Of course, I'm not an economist (cause they do such a good job), so my opinion very well could be wrong... I'm just going by gut feeling of what should be fixed, and how we can tell
The economy is all better now.
I think this president has told more bald-faced, demonstrable lies than any previous president in modern history -- including Bill Clinton.
This guy has absolutely no relationship with facts.
No, he loves f.A.C.T.s:
Fabrications to Actively Control the ' s
Well let's just hope he has a better grasp of facts than the previous guy..the one who started a war based on 'facts'...
Well, this president seems intent on continuing that policy. So, maybe there was more to the previous administration's position than this lying bas is willing to admit.
you mean dealing with the mess that was left him by a couple of lying bas s?
What mess?
What lies?
I'm gonna say his heart is in the right place when it comes to healthcare. It's just not a realistic approach and there are definitely too many loose ends.
Decent hoops game.
And he has no shame in the mom-jeans.
Obama knows about Chicago community organizing. He knows what it is to achieve the American dream, especially as a black man in this country.
He knows absolutely nothing about health care or how it works. This bill is a mess, and he just wants to be known as the president who passed health care despite the consequences of it for our country.
Why do people come to the US for health care?? Because they don't like the care they receive in their respective countries, including Canada and Great Britain. This bill is not about quality it's just about giving everyone some sort of base health care. But Obamacare will affect the way the rest of us receive health care.
While everyone gets basic health care, the rest of us will get lower quality care at a severe cost. Don't even think about your parents' health care. Our medical choices will be taken away from us and by the time we know it it will be too late for us to get our individual choice back. Americans will have to follow what the government says we can and cannot have.
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