A day like all days except the DOW closed at the highest level in the history of the dow. President obams was left with an economy in shambles. Our involvement in two wars, Osama Bin ladin still on the loose and employment levels tanking and the major banks on the brink of closing.
Now if a republican president had lifted the economy from the brink of a depression, Killed osama bin ladin and the dow climbd to record levels they would be nominating their repulican president for sainthood or installation on Mt Rushmore. Instead this democrat president doesn't get one whisper of credit for what has happened in the past 5.5 years. Nothing ,nada, zippo for the progress since his inaugeration in January of 2009.
Instead of gratitude for the enrichment of stockholder and the success of the attack on Bin ladin, there is nothing positive but silence or more criticism from the right. No recognition no credit only criticism.
I watch part of th eulogy comment of the the late Tom Foley the former speaker of the house. A good and decent man and th eulogies presented by our current and former leaders along with congressional leaders of the past. Notable amongst them was Bob Michels former minority leader at the time of the Foley's reign as speaker of the house. Michels, himself a decent and respected republican in house gave aglowing report of the attributes of tom foley. many of the same attributes deserved by congressman michels. While opposing each other vociferously they came together respectfully to lead the congress throughthe legislative process.
How times have changed when people of mutual respect ruled the halls of congress and it has been turned over the unappreciative politico with no respect offered to anyone. We have come a long ways down hill in that the halls of congress have become a vindictive sort instead of partners in progress. There is little to no good will in the political arena and it is our fault that we do not reject those that are indecent in the halls of congress.
Perhaps we will next time!
Actually Don, I wouldn't sell it too hard.
But yeah, as I posted a few minutes ago, when the economy had cardiac arrest under Bush at least Obama came in and kept the corpse warm and all us out here in the waiting room are still stayin' positive.
Hard to know what to do with the multitude who deny that simple and mostly true narrative, though.
Here`s the truth if you want it Don, (you don`t, but I`ll tell you anyway and backup what I say). Okay ...George W Bush INHERITED a slowing economy http://en.wikipedia.org/wiki/Dot-com_bubble see? the econmy was slowing in late 1999 and the Nasdaq peaked in the spring of 2000...Bush was sworn in 1 year later.
If 2001,9,11 had never happened, Bush would`ve went down in history as the greatest financial reformer of all time, better than Reagan. If those 3,000 killed on 9/11 had been treated as just a "drunk driving tragedy" and if we didn`t have a "$1 trillion, decade long vengeance war" our economy would`ve boomed. I understand the human desire for revenge, therefore since it was "necessary" a $1 fuel tax should`ve been implemented to pay for it, then when people got sick of it, we`d quit fighting and come home....probably after a year or 2, tops.
The fact is with the Dow going up, that doesn`t help the so-called poor people that are 0bama fans. It helps rich old white guys with stock portfolios. The reason the Dow is going up is that $45 billion a month that the Fed prints out of the $85 billion/mo finds it`s way indirectly into the stock market. Don`t believe me? look at the Zimbabwe stock market in about 2007 http://mises.org/daily/2532 ...we`re on the same path, right now. You do know that the Zimbabwe government printed $1 Trillion dollar bills, I suppose that you could say that the Zimbabwe government made everyone trillionaires? 🙂
Fact is unemployment was under control for Bush. Bush gave Obama a $10 Trillion debt and Obama turned it into a $17 Trillion debt...and what do we have to show for it? we`re just treading water. If the fed tapered, even a little we`d go right into a recession.
Best financial reformer in history! your just kidding right? And how was he going to bring that about. Tax cutting our way to prosperity? Unemployment was not undercontrol when Bush left the white house. It was in a downward swoon with no bottom in sight.
Inflation does not maximizes gains in the market. It is earning that carry the market higher. As evidence comparethe marklet winners against the losers. More than likely it's the earers that are doing better. Inflation will not make a winner out of a loser.
I had some of that nasdaq stuff in 2000 and most of my portfolio evaporated. Luckyily Icashed in the remainder and bought farm land. You might have shared in that good fortune. I hope you did. A little $5K stuff worth $10K or more.
Clinton left a blaanced budget and a slowing economy. Bush left a tanked economy and 10 trillion in debt and no possibility of recovery in sight. That is the fact of the matter if you choose to be honest. Bush plucked defeat out of the jaws of victory. What he left was a calamity with few prospects for advancement on the horizon.
american ingenuity, underlying philosophy to be productive drives.
how does obamma matter?
PLUS look at the record GWBush economy was very good, 2000-2008.
Complete misnomer to say otherwise.
Fear of obama, taxes, regs caused much of the 09 crash.
FED went to all lengths to save it and
we are VERY productive. 8Xs that of a chinese.