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Thread: BREAKING: Dow Jones Closes Above 13,000 For The First Time Since May 2008

  1. #101
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    Re: BREAKING: Dow Jones Closes Above 13,000 For The First Time Since May 2008

    Quote Originally Posted by Sheik Yerbuti View Post
    What you are calling a "sell off" was really the market collapsing in response to the economy collapsing. Something turned that around in early 2009. What was it?
    The same thing which happens at the bottom of every selloff.
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    Re: BREAKING: Dow Jones Closes Above 13,000 For The First Time Since May 2008

    Quote Originally Posted by Sheik Yerbuti View Post
    What you are calling a "sell off" was really the market collapsing in response to the economy collapsing. Something turned that around in early 2009. What was it?
    QE1 and QE2.

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    Re: BREAKING: Dow Jones Closes Above 13,000 For The First Time Since May 2008

    Quote Originally Posted by Tucker Case View Post
    Time had passed.
    Yep. Do I think a President can have an impact on the economy? Absolutely. However, I think that save for some massive exceptions, the impact is generally not much greater than a great number of other factors. The Senate and House both can have an impact on the economy. The media and the way things are reported can have an impact on it. The price of gas itself can impact all kind of parts of the rest of the economy. Not to mention random factors like the bursting of the housing bubble or the tech boom of the 90’s and on and on. I think in general a President has a better ability to affect short term fluctuation in the market than anything else. And I think, as shown by Bush, that trying to declare that a President’s policies singularly, or largely, are responsible for economic recovery without having any knowledge of what the future will bring is a questionable venture.

    I’ve had a variety of issues with Obama, and in general I don’t believe that his polices have significantly aided in helping the economy recover. That said, the fact our economy was bad and got worse as he came into office or the fact there are still significant troubling economic factors are not things that are a large reason for my opposition to him because I don’t place those type of things on the President to such a level that would make it greatly significant.

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    Re: BREAKING: Dow Jones Closes Above 13,000 For The First Time Since May 2008

    Quote Originally Posted by Sheik Yerbuti View Post
    What you are calling a "sell off" was really the market collapsing in response to the economy collapsing. Something turned that around in early 2009. What was it?
    ‘Sell off’ or ‘market collapse’ is merely a semantic description. What caused the reversal? That’s simple, the bear market forces yielded to the bull market forces, nothing more. EVERYTHING influences this political environment, financial issues, foreign issues (military, fiscal, social, etal), the weather, etc. You can cherry pick the one you feel most substantiates your opinion but the causes are broad.

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    Re: BREAKING: Dow Jones Closes Above 13,000 For The First Time Since May 2008

    Errr, the lower the stock market goes, the more viable investment becomes, which, of course, shoots up the stock market.

    Eventually, the potential for investment is reached. Almost every knowledgeable investor sells stock when it's value stagnates or goes down. This then reduces the market's value. The stock goes as the tide. There are, of course, influences, such as investors not wanting to purchase say Banana stock if there is a threat that bananas are going to be outlawed or regulated more heavily, but often these changes are as temporary as the threat that sparks them.

    So basically, no president has anything substantial to do with the stock market. And no, I'm not being a partisan hack, I said the same thing when other conservatives were celebrating the market under Bush. Of course, Bush wasn't even a conservative but that's beside the point.

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    Re: BREAKING: Dow Jones Closes Above 13,000 For The First Time Since May 2008

    Quote Originally Posted by Dickieboy View Post
    The end of the selloff by those who were protesting the results of the ’08 election...which coincidently happens every presidential election year…get ready for the next one...
    The selloff started well before the election. From it's high point from Oct 9, 2007 to Oct 9, 2008 the DJIA had dropped from about 14,165 to about 8,579 a total drop of 5,586 points.

    The bottom of the market occurred March 9nd, 2009 and that low point was about 6,547 points. This means that overall there was an additional drop of 2032 points form Oct 9 2008 to March 9 2009. I don't think protesting the election results can actually be blamed for much here. The market was tanking well before the election was even really being discussed.
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    Re: BREAKING: Dow Jones Closes Above 13,000 For The First Time Since May 2008

    Quote Originally Posted by Zyphlin View Post
    The price of gas itself can impact all kind of parts of the rest of the economy.

    The price of gas is related to how good the economy is doing these days. Generally speaking, the better teh economy's doing, the higher gas prices are. The worse it's doing, the cheaper gas is.

    High gas prices aren't really a bad thing, economically speaking, since hte price of gas is driven by the investor market.
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    Re: BREAKING: Dow Jones Closes Above 13,000 For The First Time Since May 2008

    Quote Originally Posted by Tucker Case View Post
    The price of gas is related to how good the economy is doing these days. Generally speaking, the better teh economy's doing, the higher gas prices are. The worse it's doing, the cheaper gas is.

    High gas prices aren't really a bad thing, economically speaking, since hte price of gas is driven by the investor market.
    The economy has not improved anywhere near the rate that oil has risen.

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    Re: BREAKING: Dow Jones Closes Above 13,000 For The First Time Since May 2008

    Quote Originally Posted by Tucker Case View Post
    The price of gas is related to how good the economy is doing these days. Generally speaking, the better teh economy's doing, the higher gas prices are. The worse it's doing, the cheaper gas is.
    Which is kind of my point.

    So much of our economy is tied together. Corn prices go up, the cost of feed could go up, which could make the amount of meat produced possibly go down, which could cause the amount of meat being shipped on trucks decrease, which would reduce consumption of gas, which could lead to higher gas prices, which could lead to people driving less, which could lead to fewer people visiting tourist locations, which impacts local businesses, and on and on...

    The various sectors of our economy aren't a bunch of stand alone parts that are disconnected. Get a few on a downslope and everything gets drug down along with it. However, on the flip side, a few things getting up and rolling again can pull all the rest along with it. That's part of what I meant by the engine of the American Economy and why I don't tend to give huge props or huge slams against any particular externral entity for its success or failure. There are SO MANY interconnected factors at work that trying to largely put the success or failure of it on a singular source is ridiculous narrowly focused.

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    Re: BREAKING: Dow Jones Closes Above 13,000 For The First Time Since May 2008

    Quote Originally Posted by 1Perry View Post
    The economy has not improved anywhere near the rate that oil has risen.
    True, but the DJIA has risen at approximately the same rate because both things are driven by investing.

    But oil, as a commodity, will increase with or without the economy improving. If the economy had not tanked, our gas prices would be a good deal higher right now than they actually are.
    Last edited by Tucker Case; 02-29-12 at 01:29 PM.
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