He said, "the economy is doing well and will continue to do so". That was before today. Did he make a mistake?
2007-02-27 21:36:26 · 8 answers · asked by sassychickensuckerboy 4 in News & Events ➔ Current Events
"Before the stock market plunge"...
2007-02-27 21:38:13 · update #1
Bush can't and does not make mistakes. For him to admit mistake would be end of his presidency.
2007-03-01 00:10:37 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Basically, no. The DOW index is, however, one leading indicator of where the economy is headed (see note #1) and if it continues to gradually decline then there is a possibility of a corrective consolidation (see note #2) which, over a period of 3 to 6 months, could indicate a weakening in the economy overall. That is the basic definition of recession. Now for the good news.
According to this article "Economists Say Recession Unlikely" (see note #3) economists think the probability of a U.S. recession this year is fairly low and the likelihood of one in China is even slimmer. Keep in mind that yesterday's drop was a combination of planetary alignments - the drop hit every sector across the market, there was also a 9 percent slide in Chinese stocks, a Commerce Department report that orders for durable goods in January dropped by the largest amount in three months, and a Standard & Poor's index indicated that single-family home prices across the nation were flat in December - it all adds up.
So, the best analysis is wait. I have lived through 3 "Black Fridays" and none of them were a difinitive moment for the economy. If you are a serious investor you should monitor at least a dozen indicators and always allow for time to sort these big shocks out. This might actually be the best time to buy....
2007-02-27 23:56:57 · answer #2 · answered by maxell_gx_platimun 2 · 1⤊ 0⤋
So 1 bad day on the stock exchange and you think the whole economy is in the tank. Sorry just isn't so. The economy is doing quite well. More people working, fewer people looking for work. The stock market made a correction it happens. Today may be better or the correction may take a week to work itself out.
2007-02-27 22:21:15 · answer #3 · answered by Anonymous · 2⤊ 1⤋
You could have finished your question after - Did George Bush make a mistake? The economy, like the war in Iraq is doing just fine in GW's deluded brain.
2007-02-27 22:29:40 · answer #4 · answered by Debra D 7 · 0⤊ 2⤋
the better question is what has bush done right? isn't he a mistake?
2007-02-28 03:12:39 · answer #5 · answered by Chery 5 · 0⤊ 1⤋
Bush is the Mistake.........
2007-02-27 21:56:07 · answer #6 · answered by bodie 3 · 2⤊ 3⤋
yes, it really spooked the chinese.
2007-02-28 14:03:20 · answer #7 · answered by Anonymous · 0⤊ 0⤋
BUSH made a mistake ??????? !!!!!!!!!!!!!!!!!!!!
NO-WAY !
:P
2007-02-27 21:40:46 · answer #8 · answered by Jester 4 · 0⤊ 4⤋