President Obama has reveresed the Bush depression

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Onceler said:
That's not the comparison I was making. I wasn't talking about GM's stock. I was talking about how their health as a company affects so many small businesses.

It's the same with all of the businesses on the Dow. Their fortunes are tied directly to a huge number of small businesses. Like it or not, people do make forecasts & hiring/firing decisions based on the fluctuations of the market, and this is something that ends up affecting most Americans in some way.
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The stock market is down almost 300 points today.

Does that mean the economy has reversed itself again and we're back in the "Bush depression?"

No, it doesn't because the stock market is not the economy.

Neither are 401k's, neither is the false speculation people engage in because they don't know what they're talking about .. and anyone who believes the stock market is an indicator of the economy doesn't know what they're talking about.

This article was simply an over-reach.
 
When Stagflation sets in and we have 10% unemplyment and 10% inflation we'll see whos pumping up the Obama economy.
 
Obfuscate said:
When Stagflation sets in and we have 10% unemplyment and 10% inflation we'll see whos pumping up the Obama economy.
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Most economists are now predicting that unemployment will get to 10% before all is said & done, but that we'll see a solid rebound in 2010.

The measures that this admin have taken will either get the credit or the blame, but I'll bet the rest of my 401K that it's the former.
 
China is the largest holder of US dollar-denominated assets in the world. The bulk of its $2 trillion worth of foreign reserves is in US dollars.

So, Beijing is frightened that the fast pace at which the US Federal Reserve is printing dollars could lead to inflation, a fall in the dollar's value, and loss to China.

Premier Wen Jiabao told reporters "We have lent a huge amount of money to the United States. Of course we are concerned about the safety of our assets."

That was followed by an essay published by the governor of China's Central Bank proving that the scale of the current global economic crisis was a result of the US dollar's status as the world's top reserve currency. He proposes a new, internationally managed global currency to fill that role. The Central Bank's deputy governor, Hu Xiaolian, suggests that the International Monetary Fund (IMF) should henceforth monitor the US economy as closely as it has traditionally overseen other struggling countries.

In the current circumstances IMF should regulate the financial policies of countries issuing reserve currencies.
 
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