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Re: How Low Can It Go?
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Originally Posted by 70Chip
Of course Obama cannot yet be held responsible for the bulk of the nasty economic indicators we see, but the stock market is a little different. It tends to react more to events in real time - Fed action, earnings reports, wars and natural disasters, etc. That is not to say that the underlying fundamentals are not shit, but I do think the feckless response of Geithner for example, has not been helpful. It's also why all the Democrats are talking about Rush Limbaugh right now. They would prefer to wait for some sign of recovery and THEN talk about the economy. That's the way it goes.
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But the Democratic controlled Congress (that approves all spending) sure can.
The basic fundamentals of the economy (productivity per worker, etc) are still sound. The mortage/housing crisis was the cause of the mess up until the election. The market appeared stabilized even after Obama's election at about 9K. After he began announcing his economic policies is when the market tanked to under 7K.
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