Obama took office on January 20th...the Dow Jones Industrial Average closed that day at 7,949. Today was six months and one week later and the Dow Jones closed at 9,108.
That's getting close to a 15% increase in about half a year.
Quote from: RecycleMichael on July 27, 2009, 06:43:40 PM
Obama took office on January 20th...the Dow Jones Industrial Average closed that day at 7,949. Today was six months and one week later and the Dow Jones closed at 9,108.
That's getting close to a 15% increase in about half a year.
Confidence certainly helps. But unemployment will continue to hinder growth while this market is polarized like everything else in society. Dubya caused most of this....so expect a W shaped recovery.....
What's this got to do with development and new biness?
People that fled the market are reentering it. I hope it indicates a larger shift economics, as some earnings reports seem to show, but the market is not the economy. It does, however, show that confidence in the economy is growing among investors.
Which is a good start.
A couple thoughts:
1. I don't care if the president is republican or democrat, they have no influence on the stock market.
2. 6 months does not a stock market make.
3. We'll still need to hold on. Those I know in the money business say it isn't over yet. Everyone is saying foreclosures on commercial real estate will make the foreclosures on residential properties look tiny. We're still a couple months away, but once it hits, it will be ugly.
But, I'm still pouring money into the market. Remember, buy low, sell high.
Wilbur, #1 doesn't make sense. Of course a president has an effect on the market. Practically everything does. Are you laying the groundwork for making sure the Obama administration doesn't receive any recognition for improving markets? If so then he certainly has no responsibility for its decline.
The market is usually a leading indicator, jobs are a lagging indicator. The market doing well recently and job losses seemingly bottoming out are good signs that we may be about to climb out of the recession.
Quote from: swake on July 28, 2009, 05:56:26 PM
The market is usually a leading indicator, jobs are a lagging indicator. The market doing well recently and job losses seemingly bottoming out are good signs that we may be about to climb out of the recession.
Tell that to six of my co-workers that got laid off today. I thought I was gonna get it too....
???
Quote from: swake on July 28, 2009, 05:56:26 PM
The market is usually a leading indicator, jobs are a lagging indicator. The market doing well recently and job losses seemingly bottoming out are good signs that we may be about to climb out of the recession.
No way. If health care fails the nation's confidence goes down hard.
Call those politicians ..... never mind. They only do as their corporate puppet masters pull them.
Angry white Americans want Obama to fail big time. What better way to bring the economy down further.
Dow 4000 and then a very slow march back while unemployment reaches to %20?
Hoss, keep all options open. Tulsa is a laggard economy that does not start to come back until the rest the nation has been out of recession for 2 years. Could be worse. This could be Phoenix which will not rise again for our lifetimes....
Quote from: waterboy on July 28, 2009, 05:34:07 PM
...the Obama administration doesn't receive any recognition for improving markets? If so then he certainly has no responsibility for its decline.
I agree.
Quote from: FOTD on July 28, 2009, 07:27:37 PM
No way. If health care fails the nation's confidence goes down hard.
Actually I think the markets are improving because it's now becoming clear that the lefty-loony plan from the House won't pass
Quote from: FOTD on July 28, 2009, 07:27:37 PM
No way. If health care fails the nation's confidence goes down hard.
Call those politicians ..... never mind. They only do as their corporate puppet masters pull them.
Angry white Americans want Obama to fail big time. What better way to bring the economy down further.
Dow 4000 and then a very slow march back while unemployment reaches to %20?
Hoss, keep all options open. Tulsa is a laggard economy that does not start to come back until the rest the nation has been out of recession for 2 years. Could be worse. This could be Phoenix which will not rise again for our lifetimes....
I am actually thinking that Tulsa may be able to beat its usual routine to a large degree. Usually when the rest of the economy tanks, Tulsa does well, then your right, as the rest of the country goes up, its Tulsas turn to go down then try to rise up,,, only to falter when the rest of the country comes crashing down again lol.
But I am hopefull that Tulsa has some momentum this time which will keep things moving along. Our economy is more diversified than in the past which will help. And I think we are turning the corner and starting to mature a bit as a city. Plus I dont see us crashing like many other parts of the economy did, mostly because we didnt see the same extent of over building, bad lending, state isnt in as much trouble as Cali is, dont have Detroit in our backyard, etc. And we have been investing in lots of things which have improved our cities prospects and desirability, invested in colleges, have continued momentum in turning around downtown, still have some big money folk like Kaiser who can keep making some improvements, our suburbs are getting big enough to be competitive economic drivers in the region, and if oil does go back up it adds icing to the cake so to speak.
If Tulsa hangs in there and keeps plugging along, I think we are going to be in a good position to take advantage of the next upswing for a change. It seems like there is a growing, positive, attitude change in the air. I keep seeing lots of little signs that we are getting our mojo back. 8)
+1 Artist.
Hang on there Tulsa. Then take off. You can do it!
Quote from: RecycleMichael on July 27, 2009, 06:43:40 PM
Obama took office on January 20th...the Dow Jones Industrial Average closed that day at 7,949. Today was six months and one week later and the Dow Jones closed at 9,108.
That's getting close to a 15% increase in about half a year.
You forgot to mention that the market lost an additional 1400 points or so while President Obama, Secretary Geithner, and the rest of his team continued to diss the economy like they were still campaigning for the next six weeks. Market bottomed around 6500 under Obama's watch. A lot of lemmings and sheeple continued to bail out and take huge losses in those six weeks thinking no bottom was in sight with rumors of a bottom at 5000.
Very good buying opportunities in those months. I'm not complaining, just saying you left out an important detail if you ascribe to the belief that Presidents affect the stock market one way or the other. Certainly, their level of confidence makes a difference in the mood of investors.
FWIW, there's still plenty of people who believe this is a sucker's rally right now. Invest carefully.
Quote from: FOTD on July 28, 2009, 07:27:37 PM
Hoss, keep all options open. Tulsa is a laggard economy that does not start to come back until the rest the nation has been out of recession for 2 years. Could be worse. This could be Phoenix which will not rise again for our lifetimes....
Do you mean Phoenix as in the bird or as in the city? I just want to be sure before I respond to it.
Quote from: dbacks fan on July 29, 2009, 05:25:58 PM
Do you mean Phoenix as in the bird or as in the city? I just want to be sure before I respond to it.
The city .... it's screwed.
Quote from: FOTD on July 29, 2009, 05:28:53 PM
The city .... it's screwed.
Actually it's not. Home prices are starting to actually go up, the job market is starting to stabilize. Yes the next hit will be commercial realestate properties, because like the housing market, it got way overbuilt, but we're not screwed.
So tell me your thouyghts on how Phoenix will never recover.
Quote from: dbacks fan on July 29, 2009, 05:35:14 PM
Actually it's not. Home prices are starting to actually go up, the job market is starting to stabilize. Yes the next hit will be commercial realestate properties, because like the housing market, it got way overbuilt, but we're not screwed.
So tell me your thouyghts on how Phoenix will never recover.
Service industry is all they have....too many houses....fewer retirees able to move....just know what the bankers tell me. You're screwed. sorry...
Quote from: FOTD on July 29, 2009, 05:37:20 PM
Service industry is all they have....too many houses....fewer retirees able to move....just know what the bankers tell me. You're screwed. sorry...
So you must think that we're all hotel and restaurant workers. Let's see, Motorola, Honeywell, US Airways, Intell, Apollo Group, Dial Corp, American Express, the division of BF Goodrich that makes the emergency slides for aircraft and the division that makes ejection seats for military aircraft, CVS Caremark the largest prescription benefits management company, Phelps Dodge, Best Western Hotels, Tri West America the insurance benefits for the US Military, Cox Communications, Qwest Communications, Go Daddy, Boeing, USAA, Taser International, Discount Tire, and several other large corps have headquarters here.
http://en.wikipedia.org/wiki/List_of_corporations_in_Phoenix (http://en.wikipedia.org/wiki/List_of_corporations_in_Phoenix)
Quote from: dbacks fan on July 29, 2009, 05:48:41 PM
So you must think that we're all hotel and restaurant workers. Let's see, Motorola, Honeywell, US Airways, Intell, Apollo Group, Dial Corp, American Express, the division of BF Goodrich that makes the emergency slides for aircraft and the division that makes ejection seats for military aircraft, CVS Caremark the largest prescription benefits management company, Phelps Dodge, Best Western Hotels, Tri West America the insurance benefits for the US Military, Cox Communications, Qwest Communications, Go Daddy, Boeing, USAA, Taser International, Discount Tire, and several other large corps have headquarters here.
http://en.wikipedia.org/wiki/List_of_corporations_in_Phoenix (http://en.wikipedia.org/wiki/List_of_corporations_in_Phoenix)
Dback, none of that is relevant. FOTD has spoken, you are doomed, doomed I tell you!!!!
Quote from: dbacks fan on July 29, 2009, 05:48:41 PM
So you must think that we're all hotel and restaurant workers. Let's see, Motorola, Honeywell, US Airways, Intell, Apollo Group, Dial Corp, American Express, the division of BF Goodrich that makes the emergency slides for aircraft and the division that makes ejection seats for military aircraft, CVS Caremark the largest prescription benefits management company, Phelps Dodge, Best Western Hotels, Tri West America the insurance benefits for the US Military, Cox Communications, Qwest Communications, Go Daddy, Boeing, USAA, Taser International, Discount Tire, and several other large corps have headquarters here.
http://en.wikipedia.org/wiki/List_of_corporations_in_Phoenix (http://en.wikipedia.org/wiki/List_of_corporations_in_Phoenix)
I don't mean to back up FOTD too much, but what you are posting is just plain wrong. Most of these companies aren't based in Arizona, they may have offices there, but not headquarters.
Off the top of my head Motorola and Boeing are based in Chicago, Intel is in the Bay Area, American Express is in New York, USAA is based in San Antonio, Cox is based in Atlanta and Qwest is in Denver.
Quote from: swake on July 30, 2009, 09:10:59 AM
I don't mean to back up FOTD too much, but what you are posting is just plain wrong. Most of these companies aren't based in Arizona, they may have offices there, but not headquarters.
Off the top of my head Motorola and Boeing are based in Chicago, Intel is in the Bay Area, American Express is in New York, USAA is based in San Antonio, Cox is based in Atlanta and Qwest is in Denver.
Those companies do have a large presence here although they are not based here, sorry if I mis-stated. My point was that Phoenix is not a service industy based city, althougha portinof the population is in that area. Job losses have stabilized, and the current predictions are for a 3 to 5 year time line to get back to where Phoenix was before the bottom fell out.
Quote from: Conan71 on July 30, 2009, 08:58:58 AM
Dback, none of that is relevant. FOTD has spoken, you are doomed, doomed I tell you!!!!
Doomed? Naah, I used to chase storms years ago in OK, I think I can handle FOTD.