It was down 450 at one point of the day. They say that the opening day determines the way the market will go for the year. That would make it the worst day since 1932 if it had closed that way. http://www.zerohedge.com/news/2016-01-04/market-pace-worst-opening-day-loss-past-century The policies of the Obama administration are clearly not working. Not domestically or in foreign policy. China's markets were shut down by the new "circuit breakers" installed by the government there before the US market opened today, after they fell 7%.
yellens fed and the interest rate hike had a lot to do with it.. http://www.cnbc.com/2016/01/04/why-fed-will-backtrack-on-rates-in-2016-jim-grant.html
Well I'm glad to see you're giving Obama credit for the Dow average. Let's take a look at how it's been doing shall we. During Obama's terms it has more than doubled and has reached historical levels. Thanks Obama. Oh and as for this bit of market illiteracy... ...no actually they don't say that.
Here's one that includes 2015. As you can see the Dow, which according to theunbubba is controlled by Obama, did very well in 2015 as well.
US factory orders were dismal in Dec, too. Worst in years. Read jobless claims jumped up, but not not sure how much. I guess we could look at this way, if we start out really bad , any good news will seem like Xmas all over again, right?
According to theunbubba the President controls the Dow average. So let's see how the Dow has done under Republican and Democratic Party Presidents. Here's a graph showing growth by party for the past 15 years.
It's about a 1.5% change, not the end of the world and probably not a sign of things to come. Just another day in the market.
The Dow drops by 1.5% in a day and theunbubba has a stroke but somehow doesn't notice it increased 251% during Obama's Presidency.
Uh, the policies of the Obama administration are the same neoliberal policies that were brought back from the 1920s in 1981. Of course this will crash and burn, and 08 was just the taste of it. You cannot do what has been done to this nation, and NOT have it implode as it did in 1929. So stop the stupid partisan politics and understand WHY we are where we are. Free trade globalization, deregulations of wall street and banking, which turned our economy over to the greed of our oligarchs. As Perot tried to tell the people of what free trade would do to our jobs, others tried to tell the people what would happen if you deregulated banking, which has to be regulated or they crash economies as they become too big to fail. This economy will crash and burn. Neoliberalism embraced by both parties now, is a failed ideology. And if we did not be devoid of a memory, we would have known this and never allowed it to be brought back. So you voted for it, now, you get to suffer for your stupidity. Perhaps this time, the lesson will be learned.
Brilliant analysis. Well except that Obama wasn't President in 2008 and he hasn't had a 1929 crash and burn. Aside from those bits you're spot on. More brilliance. Well except for this pesky bit which seems to contradict your dire prediction. Also the fact that the US currently enjoys the highest GDP in history and one of the highest in the world. Other than that you're on a roll.
Overall Ive lost money all year but this latest blip is just that. Its been far worse (for me) over the last few months but its slowly ticking upwards and Im hoping get back what I put in by spring but who knows.
Dont forget folks that China unfreezes its stockmarket this week after its six month freeze imposed in July...watch the sh1t hit the fan then.......
So you expect to make money every month of every year in the market? Here's a hint. Get out of the stock market. - - - Updated - - - So you're blaming the Chinese stock market on Obama as well? I wonder how that works...
A lot of people think that a growing stock market is a sign of a healthy economy. Unless the fundamentals are right, it's more likely to be a sign of inflation and a lot of government intervention.
Honestly I love studying the leftists brain. Please enlighten us as to how you inferred that out of what I said. I have to know for my book. This is a great example under my financial chapter. Go...
Well, Doug, not really. The pump from the federal reserve is responsible for the run up. The market is responding to Obama's inability to do anything to complement that pump. My prediction: Dow down for the year by 20% Cruz becomes President. Panthers vs Broncos for the superbowl. Manning goes out on top if his body holds out.
That China Question is funny. The Chinese economy is following the standard pattern despite meddling by their communist party apparatchik. Just look at what happened in Japan. They had cheap labor they could exploit for an export market. This drove their economy until the workers demanded more money to come to work. This drove Japan's prices higher and slowed their exports. This put their economy into a 20 year slide fueled by stupid interventionist policy from their central bank. Had the central bank not intervened there, the slide would have been cut short by 15 years. But go figure. Politicians don't want to bite the bullet. They want to "fix it" and get re-elected. And yes OBAMA is an idiot when it comes to economic policy. He followed the Japanese model right down the line.
Yet the drop has been successive since interest rates went up, and the increase was minuscule to say the least. Goes to show how much the federal government has been propping up the markets since Obama took over. Couple this with other recent events and perhaps there is some truth to the doom and gloom, or not...
