The market tanks at Obama's approach to revive credit because the market knows Obama's approach will not revive credit. What Washington, thunderdog and apparently you do not understand is that credit comes from savings. You need money to actually lend money. Before Americans can borrow money somebody needs to save it. The walmart greeter is not going to solve the global credit crisis with their 13 dollars. What we need is for the credit/savings to go to the producers/businesses. Aggressively cutting taxs for individuals and businesses will create 10x the amount of savings then spending on pet projects and Obama's bullshit middle class tax that is merely just a loan to pay less this year and to pay more next year. Unfortunately Obama thinks if we print enough money and then put it into the banking system the banks will give out loans and we will have economic growth. Unfortunately all we get out of that is massive inflation. Obama is determined to create credit out of thin air. That spells inflation and no savings. Not only are you guys blind to the method of solving the credit crisis but you also ignore the horrible consequences of such spending which equals huge amounts of inflation and heightened taxes for years upon years.
Just trying to get you to say something of substance instead of hiding in your little elite shell all day long. It's also weird how you chimed in at the spot you did. Omega said the market tanks because Obama dumbs down his economic statements. I said that dumbing down an economic statement does not change the statement. Then you chime in with an awfully defensive post while of course bashing Bush as well. Interesting...
I only mention Bush because his administration had a big hand in the current economic fiasco. You asked about credit and I am giving it where it is due.
What I meant was Obama isn't as concerned with speculators as he is with the economy. I know neither of us are going change the others mind but how about not misrepresenting what I say?
Bush 1 and Clinton were part of it too, with their religion of globalism The house of cards is coming down, because that's what houses of cards do
Does it? Or is the market merely responding to increasingly dismal economic data as it surfaces with remarkable regularity? Regardless, I guess it's not much fun cleaning up after a wild frat party, courtesy of the frat prez who's now sleeping it off.
Oh really? Your argument basically claims that Obama is the only source of economic data. No wonder you are so confused. The market doesn't tank because Obama is enlightening all of us traders about how bad the economy is. The market tanks because we don't like what Obama is planning on doing to the market you flaming idiot.