Why is Bush's "booming" economy still failing after being put on the Fed's life support system?

Question

NEW YORK - Stocks extended their losses Thursday after Federal Reserve Chairman Ben Bernanke warned he expects a raft of economic troubles will cause business growth to slow
http://news.yahoo.com/s/ap/20071108/ap_on_bi_st_ma_re/wall_street

Johnny 2 Times (below) lol, Yea right. Please take note of the QUOTATION marks around the term "booming". This means that I didn't say that. I only quoted it.

PNAC ~ Penelope (below) HI GORGEOUS! 4.6% unemployment simply means that Walmart has expanded

PNAC ~ Penelope (below) HI GORGEOUS! 4.6% unemployment simply means that Walmart has expanded

Answer 1

Did you read the entire article or did you stop at the 2nd paragraph to jump to your conclusion?

"Bernanke acknowledged the market's recent jitters but said he believes the economy will rebound from recent problems by the second half of next year. But he added that rising prices for oil and other commodities had stoked concerns about inflation and repeated the Fed's assessment made last week that monetary policy seemed well-balanced to allow for growth while curtailing inflation."

Anyway, the economy and markets are far from failing. Even though the Nasdaq and Dow have dropped over the past few sessions, they are still both up for the year. The Nasdaq is up 270 pts or more than 10% since the beginning of the year and the Dow is up almost 800 pts or more than 6%.

Another article on Yahoo!
http://biz.yahoo.com/ap/071108/bernanke_economy.html

Of course, we can always compare today's economy to the 1970s when inflation was over 10%, unemployment was over 10%, and gas prices were close to $4 per gallon in today's dollars. Today, inflation is close 3 or 3.5%, unemployment is 4.5% and gas is high at $3.50 or so. While the economy could be better, the blame really should go to the people who bought into mortgages they couldn't afford and the lenders who sold them.

Answer 2

i've got not got something against libertarians. i assume at times some human beings would evaluate ME a libertarian. in all probability by way of fact i do no longer care if human beings of a similar intercourse get married, whilst additionally helping a plenty smaller federal government and decrease taxes. yet what I surely have additionally come to locate is that maximum libertarians are only unsure. and that they use the term "libertarian" to attack the two those on the left AND the excellent, whilst balancing on the fence between the two. no longer elementary to be held responsible once you play the two facets. and not elementary to be responsible once you declare to help neither one nor the different. yet i could quite opt to be certain a likely third occasion candidate emerge to take the two the republican occasion AND the democrat occasion down a peg. We had a actual shot at that returned in 1992 with Ross Perot. yet threats to his kinfolk compelled him to withdrawal. finally in spite of the undeniable fact that, we desire a president which will do what's ultimate for the TAXPAYERS of the country. you already know...........the interior maximum sector that fuels this usa and this economic device.

Answer 3

Raising taxes and high interest rates have more to do with the economy than most things do. A promise made by the dems if they take control next year has put businesses in a wait and see attitude.

Answer 4

It was never Bush's economy when it was doing OK ("booming" would be an overstatement - the global economy was doing well, that's what the stock market was reflecting), and it's not his now that the stock market has taken a dip. The tech bubble wasn't Clinton's either.

The economy is mostly market driven, with some dramatic, but really not overwhelming influence from fiscal and monetary policy - neither of which are in the hands of the President.

Answer 5

I will make this real clear for you, pinhead. You are so wrapped up in wanting the economy to fail because you hate Bush. The truth is the economy is strong and vibrant and 4.5% unemployment. The market goes through little things called cycles (I am sure you did not learn this in your Philosophy program in college, because you sound stupid) and these cycles come from every form of business. Whether it be lower than expected sales reports, to interuptions in the supply of oil. Now that you have been learned, try and fight back, I dare you, wimp

Answer 6

You can toss a life preserver out to someone drowning ,but if they are being pulled under by a 2000 pound squid you are just going through the motions .

Now matter what happens we have no economy really . Yes we have a service economy which is collapsing under the pressure for those who managed to make a few dollars to continue to spend them . Every good paying job is under attack except government jobs .
We all know what that leads to .

Answer 7

So then by your logic, the economy has been fantastic for the past four years. Right?

At least we finally have a liberal admitting that the economy has been performing fairly well in the recent past. Thank you for your honesty.

Answer 8

Bush is a believer of trickle down economics...and the hard times being felt by Wall street today will trickle down to all of us soon.

Answer 9

Bush is a terrorist himself. He's been wasting the countries money in Iraq, therefor, the little businesses are booming out because they have to pay higher taxes than the big buisnesses. All of them, generally, charge more because of the lack of money and the raise of tax rates. If you haven't noticed, there were tax cuts for the rich and the middle and low class have to pay up for it. It's sickining and it makes me want to throw up what I just had for my lunch.

Answer 10

The white house screams all the time about how great the economy is...yet economists tell us other wise.

You can liken it to "scientists" that work for cigarette companies telling you that smoking is harmless.