Not Since Jimmy Carter

Discussion in 'Politics' started by bugscoe, Aug 5, 2011.

  1. What a coincidence!

    Dow’s losing streak now in ninth day
    Commentary: Dow’s losing streak unmatched since 1978
    By MarketWatch

    CHAPEL HILL, N.C. (MarketWatch) — The stock market is poised today to do something it has not done in over 33 years: Decline for nine straight sessions.

    The last time the Dow Jones Industrial Average DJIA -4.31% did that, in fact, was Feb. 22, 1978, when Jimmy Carter was president and the country was struggling to come to grips with a period of anemic economic growth and high inflation.

    Isn’t it comforting to know that we’ve made such progress over the last three decades?

    Actually, about the only thing that is comforting in the historical data on Dow losing streaks is that many of them have occurred near major bear-market bottoms.

    For example, before February 1978, the previous time the Dow declined for nine straight sessions was in October 1974. That came just two months prior to the end of the punishing 1973-74 bear market.

    Does a streak of nine losing sessions in a row increase the odds that the market will rise on the 10th? Unfortunately not.

    In more than a few of the past cases in which the market dropped that many days in a row, the market continued dropping for at least another day.

    In fact, the all-time record for number of days in a row in which the Dow fell appears to be 14 — a streak that ended on Aug. 13, 1941, as the rumblings of World War II were reverberating through Wall Street.

    One can only hope that we’re not playing out that historical parallel.

    — Mark Hulbert
  2. Max E.

    Max E.

    Hopefully Obama doesnt have enough time left to follow through on Jimmy's other legacy, stagflation, and the all time high of the misery index. At this point we are in damage control, we just need to slow down the damage Obama is doing for 18 more months and hope the next jackass who is in charge is not as incompetent....though i have my doubts in terms of competency given the current field of challengers..... and the previous 12 years of incompetence....
  3. The debt to GDP ratio, which is probably the most important statistic long term, hit it's post WWII low during Carter's term. In fact, the total debt was less than $1T at the end of the last budget signed into law under Carter. I'm sorry, but all of this "prosperity" since Carter left office has been paid for by over $13.5T in debt that will need to be paid back with interest. Business cycles and recessions happen from time to time. It's best to just ride them out, as Carter tried to do, instead of piling up trillions in debt for tax cuts and stimulus.
  4. Tsing Tao

    Tsing Tao

    This is the only chart that anyone needs when comparing whether or not anything Obama is doing is working. The only one.

  5. Ricter


    Pull the chart for the so-called "nanny" states of Europe.
  6. Wicked looking chart. Problem is he isn't doing anything at all, and neither is congress. They all have the standard line, we must create jobs. No shit! HOW? Repubs say cut taxes. Wrong! Taxes are irrelevant as demonstrated once again last December when they got their precious Bush tax cut extension. So where da' jobs? Corporate America still slashing jobs by the thousands.
    Dems say spend more. ON WHAT? More bullshit bureaucracy? Bailing out failed companies? Kissing the bankers asses? Being too stupid to realize that there were no "shovel ready" jobs to use the money as fast as their idiotic policy dictated. It's takes time and planning, so all we got was a few resurfaced roads. Nobody in that god damn city has a plan at all, other than, let's hit the campaign trail boy's, election is right around the corner.
  7. Lucrum


    What for? We're NOT Europe.
  8. Ricter


    Now that is a good example of head-in-the-sand.
  9. Tsing Tao

    Tsing Tao

    I have to agree with Lucrum here. What the hell does it matter what Europe looks like? What has that got to do with what is going on here?

    Are you saying "Europe is far worse, we should be happy!" or "europe is worse off, we still have a long way to go!"

    What IS your point?
  10. Ricter


    The point is that you cannot dismiss another society, currently performing better than our own, as being too "nanny" to emulate, and then present data showing our own society being even more nanny (which is what your graph shows).
    #10     Aug 5, 2011