It was a bloodbath on Wall St. today?

Question

So much for the market highs being touted as a mark of success for this administration's economic policy. Was today's market correction Clinton's fault or a sign that voodoo economics just doesn't work?
BTW. I am not a liberal. So don't start liberal bashing with me. I am a very unhappy fiscal conservative who has never supported Bush.

Answer 1

Nothing to worry about yet . And the president can never take credit for what I do with my money .
Now had a large sell off been followed by a increase in gold prices or speculation in foreign currency ,we might be looking at things differently . By the way watch the yen to see if it losses more then 4% of its value and if it does then buy some yen . It will bounce back to its full value in several months .

Answer 2

It has more to do with Greenspan's prediction of a coming recession in our economic cycle. The economy good or bad has very little to do with Presidential policy. I heard very little "touting" from true intelligent conservatives about the market upswing, only used in defense from the Liberal bashing of Bush. The dow is still very high today was merely a market correction.

Answer 3

Funny the DNC was taking credit for the gains just before the elections based on polls showing they would win. My point is every one is fast to accept the accolades when the market is up and fast to pass the blame when the market is down. (both parties that is)

The fact is 35% of Americans have adjustable mortgages on fixed incomes...what you saw today is nothing compared to what is gonna happen if the rates don't come down. We are talking about massive foreclosures and thousands of working class families losing everything. Yet the only laws passed are those that make bankruptcy tougher to declare. Protect the banks and ignore the real problem looming on the horizon.

Answer 4

Recession unlikely in 2007 By JEANNINE AVERSA, AP Economics Writer
15 minutes ago



WASHINGTON - Alan Greenspan and the Wall Street nosedive aside, economists think the probability of a U.S. recession this year is fairly low and the likelihood of one in China is even slimmer.

ADVERTISEMENT

Greenspan, the former chairman of the Federal Reserve, warned this week that the world's largest economy — the United States — could slip into recession this year. That would be bad news for the global economy, too.

However, many economists put the probability of a recession at about one in five.


kinda ironic? this article was from yesterday.

Answer 5

In fact it has a lot to do with Bush's less than fiscally conservative practices that helped to contribute to steep decline today. He is way worse than Bill Clinton ever was. Clinton was more fiscally conservative than Bush has ever been.

Answer 6

The Bush Market rally is real base on growing corporate profits unlike the Clintoon rally which was based on dot.com promise of profits that never materialized coupled with the corporate excess of WorldCom, Enron et. al.

Answer 7

its just a cooking of the books to scare all the small time investors out of the market so that the big cats can scoop up everything...come on you know how it works in the bush years

Answer 8

The house of cards is starting to colapse. Even Alan Greenspan said he thinks we're headed for a recession. Look out!! I think we're headed for a depression that will make the 1930's look like prosperity. Thanks Bush, again. That incompetent idiot can't get anything right !!

Answer 9

Why worry it was just a bad day. Its way up compared to the clinton years. 12216 is not a bad number.

Answer 10

I don't pay much attention to Wall Street, and I pay less attention to the idea that a President has very much to do with it. It's primarily consumer confidence that drives the economy.