First 10 Month Stock Market

[Moby]

OK, as someone wanted to compare apples to apples I'll bring another economic point of interest. The Dow Jones which many Neocons were complaining about in February of this year. So let's do the comparison.

Let's compare Bush to Obama taking the Dow Jones Industrial Average 10 months before they took office, the day they took office and then roughly 10 months after they took office (we're about 10 days short still).

Bush
10,866 Before
10,578 Day Of
9,750 10 Months Later
Before he took office it changed -3%.
After he took office it changed -8%.


Obama
12,361 Before
8,122 Day Of
10,270 10 Months Later
Before he took office it changed -35%.
After he took office it gained 26%.

According to the comparison requested by Wayers it appears that under Bush the stock market took quite a beating but under Obama it has increased drastically.

I just don't understand what he's complaining about.

[MintJulep]

It's great the stock market has topped 10k, but this is a jobless recovery so that means very little to the average person.

Where are all of the jobs the "emergency" stimulus was going to create? Unemployment wasn't going to reach 8% and that was the reason given for everyone to sign on without reading. Now, we're in the double digits.

[Moby]

It's great the stock market has topped 10k, but this is a jobless recovery so that means very little to the average person.

It's way too early to tell since history shows jobs come after an economic up turn.
I wasn't the one that thought comparing the first 10 months made sense. That was a neonut.
I don't even think that the stock market is a good economic indicator but it was the neonuts that were touting it when it was high, ignoring it went it dropped and then blamed Obama for not fixing it on day one.

Sometimes when people try to use insane rhetoric and false information to support unsupportable beliefs they have to actually look at the facts even if they go against their belief.

[doctordog]

when you rob the taxpayers of millions of dollars the stock market needs to come up a hell of lot more than it has. nuff said Moby, find another pundit argument.

[Socialist_Revolution]

when you rob the taxpayers of millions of dollars the stock market needs to come up a hell of lot more than it has. nuff said Moby, find another pundit argument.
Amazingly I do have to agree with you on one aspect of that comment...I was against the bailouts from the start and just heard today one bailout company is filing for bankruptcy costing us tax payers billions in bailout money and then read that GM is paying back bailout money with BAILOUT MONEY!! WOW!:banghead:

[ILoveObama]

The Stock market will hit 12,000 - Cant Wait.

[Socialist_Revolution]

GM will be begin paying back the TARP money in December [1], the company announced [2] this morning. It’s a statement in need of a little context.

Basically, GM will be using a portion of its $50 billion in TARP bailout money [3] it received to in turn repay another portion of the TARP loans.

The reason GM can do this is because when GM emerged from bankruptcy, it struck a deal with the Treasury Department to carve up its obligation to the government in four different ways.

They are, briefly: 1) $986 million remained an obligation of the old GM, the husk of the company left behind through its bankruptcy restructuring, and will never be seen again, 2) $6.71 billion remained as an interest-bearing loan, 3) $2.1 billion of the obligation was converted to preferred stock, which is a form of equity ownership that pays a fixed dividend, and 4) the rest was converted to a 60.8 percent equity stake in GM.

So, for GM to completely pay back the government, GM would have to completely repay the $6.71 billion loan with interest, purchase the government’s preferred shares (as well as keeping up dividend payments), and Treasury would have to make a pretty penny, in the range of $40 billion, selling its common shares after GM goes public again.

In a comprehensive overview [4] (PDF) earlier this month, the GAO deemed that scenario “unlikely.” The former chief of the auto task force went farther [5], saying that $20 billion of the $50 billion given to GM [3] probably won’t be coming back.

GM’s announcement today was just about No. 2, that $6.71 billion loan—it will begin repaying next month, it said. But the money to repay the loan will come from a portion of the government money it has set aside. In other words, GM has not actually drawn down every dollar of the $50 billion. It has about $13.4 billion [1] sitting in an escrow account, and it’s tagged $8.1 billion [2] of that to repay loans it owes both the U.S. and Canadian governments. (Incidentally, GM also got a $1.3 billion loan from Germany in support of its European unit.)

And there’s your context. Essentially, the good news is that GM thinks it won’t need to draw down more than about $40 billion of the $50 billion the U.S. gave it.

As with all other recipients [6] of the bailout, we continually track GM’s progress towards making the taxpayer whole. Since last December, GM has paid the Treasury $178 million in interest (before bankruptcy) and dividend payments. Meanwhile, about $50.4 billion remains outstanding.

Note: Not dealt with here for simplicity’s sake is $884 million which Treasury used to purchase a portion of GM’s equity in GMAC [7], its financing arm. In exchange, Treasury received a 35 percent equity stake in GMAC.

http://www.propublica.org/ion/bailout/item/gm-announces-it-will-pay-back-govt-loan-with-govt-money-1116

I guess it is not as dumb as it sounds after reading the whole story but it still seems dumb to pay back bailout money WITH bailout money.

[Moby]

when you rob the taxpayers of millions of dollars the stock market needs to come up a hell of lot more than it has. nuff said Moby, find another pundit argument.
I think you've lost your little tiny mind. If it wasn't gone already.

You were the one that wanted to do the comparison. Don't you remember? It's right here. http://dcjunkies.com/showthread.php?p=151010&highlight=months#post151010

The pundits were on Fox News complaining Obama's first week. I don't know any pundits that are doing this comparison. It was just you that wanted it. Can't you even remember a few weeks ago? :confused:

[MintJulep]

The Stock market will hit 12,000 - Cant Wait.I hope so!! I've been waiting for the other shoe to drop with everything else going on.

[doctordog]

I think you've lost your little tiny mind. If it wasn't gone already.

You were the one that wanted to do the comparison. Don't you remember? It's right here. http://dcjunkies.com/showthread.php?p=151010&highlight=months#post151010

The pundits were on Fox News complaining Obama's first week. I don't know any pundits that are doing this comparison. It was just you that wanted it. Can't you even remember a few weeks ago? :confused:

So far you have only posted your opinions, no links, no evidence, just your opinions.

[Moby]

So far you have only posted your opinions, no links, no evidence, just your opinions.
In the other thread I posted the unemployment numbers., Of course Frank wasn't capable of doing the math that most 3rd graders could do.

Do you really think that posting these numbers is opinion?

Do you not know enough basic math to do the calculations yourself?

Do you just not care enough about your country to know where to find this data?

[doctordog]

In the other thread I posted the unemployment numbers., Of course Frank wasn't capable of doing the math that most 3rd graders could do.

Do you really think that posting these numbers is opinion?

Do you not know enough basic math to do the calculations yourself?

Do you just not care enough about your country to know where to find this data?

A simple "no", I don't have the links would have sufficed.:thumbsup:

[Moby]

A simple "no", I don't have the links would have sufficed.:thumbsup:
I thought that you were kidding. It never occurred to me that you really didn't know where to find this. Even for you, that's pretty damn clueless.

Here's the first place you can find
http://finance.yahoo.com/echarts?s=%5EDJI

[doctordog]

I thought that you were kidding. It never occurred to me that you really didn't know where to find this. Even for you, that's pretty damn clueless.

Here's the first place you can find
http://finance.yahoo.com/echarts?s=%5EDJI

This is just 2008 and 2009 Moby which doesn't cover your statements, it appears you are clueless.:thumbsup:

[Moby]

[QUOTE=wayers57]This is just 2008 and 2009 Moby which doesn't cover your statements, it appears you are clueless.QUOTE]
Did you change the data range? Type in a date dumb ass :lmao2: :lmao2:

How clueless can you possibly get? :lmao2: :lmao2:

[doctordog]

[QUOTE=SirMoby][QUOTE=wayers57]This is just 2008 and 2009 Moby which doesn't cover your statements, it appears you are clueless.QUOTE]
Did you change the data range? Type in a date dumb ass :lmao2: :lmao2:

How clueless can you possibly get? QUOTE]

Either support what you say or don't, I could care less.:thumbsup:

[Moby]

Either support what you say or don't, I could care less.:thumbsup:
I just showed you one of many sites where you can get the data. Aren't you capable of actually reading?

[doctordog]

I just showed you one of many sites where you can get the data. Aren't you capable of actually reading?

Excuses and deflection, anything else junior?:lmao2:

[Moby]

Excuses and deflection, anything else junior?:lmao2:
What deflection? The numbers are right there where I linked.

[Bill Cosby]

The Stock market will hit 12,000 - Cant Wait.

Welcome aboard,,,,,,,,,,,,,,,,

One day you will be correct..... Hopefully sooner than later... Not to soon as I am not ready to sell just yet,,,,,,,,,,,, lol

[ILoveObama]

Welcome aboard,,,,,,,,,,,,,,,,

One day you will be correct..... Hopefully sooner than later... Not to soon as I am not ready to sell just yet,,,,,,,,,,,, lol

Thanks :)

I think were not totally clear yet - They claim there will be more forclosure. But hopefully by 2011 we will be back at 12,000. Sooner would be better.

[goldbaker88]

Knowing the current situation of the stock market is crucial especially if you have stocks invested in it. It is better to be up to dated to the situations so that you could know the actions to be taken if some changes in the stock market occur as to secure your stocks to lose. Today, the stock market is unstable so we need to be vigilant to the current market conditions.

[Bill Cosby]

Thanks :)

I think were not totally clear yet - They claim there will be more forclosure. But hopefully by 2011 we will be back at 12,000. Sooner would be better.


Yea but what about 2012??? (Mayan calendar ending) Is the world gonna end???

Should I cash out in late September???