Total Lack Of Confidence!!

@rodney850 (2145)
United States
February 25, 2009 12:22pm CST
Wall street has voted and has almost unanimously rejected president Obama's stimulis plan(s) to the tune of the DOW being at it's lowest since the 70's. As long as this administration and his congress try to force feed America liberalism and socialism, Wall street will continue on it's downward spiral. Personally, I believe we will see the stock market indexes reach lows below the 4 digit down into the 3 digit realm, maybe as low as 500 for the DOW. Here is an opinion that give some insight into just how investors see this playing out: http://townhall.com/Columnists/DonaldLambro/2009/02/25/investors_unimpressed_with_obamanomics Just what will it take for Wall stree to regain it's confidence? In my opinion, it will take much more creativity than we have seen from this congress an president so far because so far, all we have seen is liberal politics as usual!
1 person likes this
3 responses
• United States
25 Feb 09
It will take real fiscal responsibility to fix this. Bush told people to go shopping and spend money while Obama tells poeple to tighten their belts because the gov is going to spend tons of money for them. Either way tons of money is being spend without a real lasting way to pay it all off. Of course wall street has no confidence.....neither plan will work. Wnat to know what will solve this? Well people....put yourself on a budget...don't live beyond your means, pay off your bills.....gov...same thing.
1 person likes this
@rodney850 (2145)
• United States
25 Feb 09
Lilwonders, What's amazing is that America knows how to get out of a financial crunch but so far most people are buying into this "spend to stimulate the economy" fantasy! I've never been able to spend my way out of a financial crisis, have you?
1 person likes this
• United States
25 Feb 09
Nope I haven't. I am struggling along with everyone else. So should I go out and buy a new expensive car? or how about a huge house? Oh or maybe I should take my family on a world tour vacation. Will that get me out of debt? Of course not. It would make my debt problems worse not better. The same goes for our gov.
1 person likes this
@Destiny007 (5805)
• United States
25 Feb 09
The best way to get the economy running again is cut taxes... you cannot talk about increasing taxes on the very people and companies that provide the jobs for everyone else and expect the economy to work. Along with tax cuts, there needs to be massive spending cuts... something that Bush failed miserably in. Finally, we have to eliminate the Fed... they are a major cause of our economic problems.
1 person likes this
@ladyluna (7004)
• United States
26 Feb 09
Greetings Sir Rodney, I share in their lack of confidence. Some may not have been around long enough to know better, though many of us have. Everything that this administration is 'trying' has been done before, elsewhere on the planet. Each time, with disastrous results. So, this line of mularky that we're being fed that "no one really knows if it will work" is just that -- garbage. We do know; history is a very dedicated tour guide if only we'll pay attention. What'll it take? Well, before the addition of many trillions of dollars worth of debt and guarantees it would have only taken a one-two-three punch. One - a no tax increase guarantee for all Americans, two comprehensive assurances to get out of the way of the steamroller of small business development and three - fiscal discipline! Cut taxes, cut spending, and get out of the way of entrepreneurship! If Obama announced a 36 month moratorium on all proposed tax increases, and announced a comprehensive plan to review and rescind overly burdensome regulations affecting business development, while committing to seriously slash spending -- the market would rebound in a New York minute! Though, now the one-two-three punch cannot begin to overcome the damage that this administration (and the triangle of disaster from last Fall Bush-Paulson-Bernacke) have caused. What's been done might still be undone. It'd be a matter of using Executive Order to send the stimulus bill back to the House. Which I believe might legally be undertaken. The question of whether Obama would even consider re-considering this very, very foolish move is a no-brainer -- literally. This nightmare is part of the Alinsky strategy, which means that this is what they sincerely believe that they want for America. Which of course portends very badly for all us 'little guys'. The bad news is that the market will NOT regain a sense of confidence as long as these little tyrants in DC continue to treat all business like the spawn of satan! How sad is that?