Take a grain, readers, because this is the same guy who said this is a "No-Bailout" Bailout and that this bear market just like any other.
"To the victor goes a market opportunity" by Steven Syre, Globe Columnist | November 4, 2008
The next president is about to inherit an economy in a nose dive and a stock market flat on its back. That's painfully bad news for most of us, but a big opportunity for him.
Like 9/11 was an "opportunity," as Rice and Rumsfeld described it?
Compared with other daunting challenges that will face either Barack Obama or John McCain as president, the economy in general and the stock market in particular are fixable. Markets are notoriously difficult to predict, but they almost always rebound from plunging corrections over time. Four years should be plenty.
Yeah, but do the American people have four more years to wait?
The current stock market decline is not historic, but it has been wrenchingly bad.
After a while, you just get tired of the lying.
Other presidents who took office with the nation in financial turmoil benefited from the stock market's resilience. Franklin Roosevelt, Ronald Reagan, and even Gerald Ford saw a troubled market begin to rebound in less than four years.
The stock market roughly tripled in value during the first Roosevelt term. The Ford stock market lost ground at first but eventually climbed about 20 percent. The Dow Jones industrials earned a total return of 60 percent during the first Reagan term, which turned out to be the launching pad for one of the 20th century's great bull markets despite the crash of 1987.
One safe bet: We will still be looking at real economic problems at the end of the coming administration's four-year term. But, stock prices will also be significantly higher than today's levels.
Seriously, is there EVER a "SAFE" BET?
Yes, readers, I do get sick of business page liars like Syre here!!!
History offers a few stock market lessons for the next president. He can help, by trying to stimulate the economy and projecting leadership at a time when confidence matters more than usual. The next president could exercise real power by doing both. But he will also discover the limits to his influence over the market.
Yup, IMAGE matters more than SUBSTANCE!!
Well, lipstick on a shit still smells!!
"The president is not responsible for the stock market," says Richard Sylla, a market historian and economics professor at New York University. "But if they appear to be in charge and do things to address the country's economic ills, people will rally behind them a little bit. It's almost a psychological thing. People feel good about a new president anyway."
This guy friends with Phil Gramm or what?
Roosevelt certainly projected leadership as a new president, as did Reagan. What each actually did - launching the New Deal, cutting taxes - also made a difference. But other factors beyond their control were at work, too.
Yeah, and WE KNOW WHOM THEY ARE, right, Zionist money men?
The stock market had fallen so dramatically by the time Roosevelt took office in 1933, it was almost impossible for it to go lower. In fact, stocks had actually bounced off the bottom before he took office. The market soared during Roosevelt's first term, but fell hard after he won reelection. Call that good political timing all the way around.
The first "dead cat" bounce?
Reagan came to office in early 1981 pursuing change his admirers called a revolution, but Federal Reserve chairman Paul Volcker was more important to the economy and markets. Volcker drove interest rates sky high to curb dangerous inflation. The strategy worked and the stock market advanced, but the high rates inflicted real pain along the way.
Yes, I remember those days quite well.
Sylla says Reagan advisers worried about the political fallout and initially urged the president to blame everything on Volcker, which he declined to do. Volcker is remembered for bold action, but Reagan also benefited from the stock market boost.
Translation: The bankers control the economy.
The Ford presidency is such a strange historical period it's hard to know what to make of the stock market's relationship to the White House in those years. After taking office in the summer of 1974, Ford labored to right the economy, campaigning to "Whip Inflation Now," but never seemed completely effective.
Ultimately all three benefited from timing, too. The ups and downs of business are just as important to the stock market as decisions made in the White House. Policies are important, but timing helps.
And as Roosevelt said, nothing in politics happens by accident!
"An administration can make some difference at the margin with policies," says John Carey, a veteran portfolio manager at Pioneer Investments in Boston. "But I think it's the business cycle that drives the market over long periods of time."
Timing may have helped the stock market of Bill Clinton, who arrived in and departed from Washington under ideal economic circumstances.
That guy could walk through a shit storm without getting a flake on him!
And perhaps timing hurt President Bush, whose terms spanned the technology stock bust, the Sept. 11, 2001, terrorist attacks, and now this latest financial collapse that can be blamed on so many culpable parties.
Aww, poor president Bush!! Look at the Zionist flak absolve him of responsibility for this!!!
Today, financial institutions are under stress around the world. Companies, consumers, and even municipalities find it harder to borrow money. Unemployment is rising and economists worry about a serious recession.
But it isn't a historic decline or anything. Sigh!
Oh, and the borrowing? ON PURPOSE!!
Facing all that, Obama or McCain will also exercise a limited power over the direction of the stock market. But their timing couldn't be better. --more--"
Translation, this president ain't gonna do shit except raise taxes!!
See: Bush Staying in Office Even if He Leaves
Bush's Bailout to Raise Taxes, Slash Services
