George W. Bush: The economy's motivational speaker for 3 more months

Discussion in 'Politics, Religion, Social Issues' started by Anuba, Oct 10, 2008.

  1. Anuba macrumors 68040

    Anuba

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    #1
    People tend to forget that the future doesn't start on November 4. Sure, the election may be 4 weeks away, but the new president won't be sworn in until January 20th.

    I was listening to Bush's speech half an hour ago, and it almost made me wish I had some stock so I could sell them. This guy has no leverage whatsoever, he couldn't even inspire a squirrel to climb up a tree. He had basically packed his bags when this crisis was dropped in his lap, and he loathes having to drag himself out of bed every morning to deal with it.

    With the economy getting worse by the hour, what's it gonna be like in 3 months with Curious George running the show?
     
  2. iShater macrumors 604

    iShater

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    #2
    much worse than the previous 93 months? :D
     
  3. Anuba thread starter macrumors 68040

    Anuba

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    #3
    Actually, yes. These will be the 3 worst months of his presidency as far as the economy is concerned. The situation on Wall St. is worse than after 9/11, which is saying something. :eek:
     
  4. sushi Moderator emeritus

    sushi

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    Government policy generally does not turn on a dime. It usually takes a long time for policies to change.

    So regardless of who is elected, the current administration's (including Congress) policies will still be in effect at least 6 months, if not longer, after they take office. So while we may see an emotional change in the markets, policy changes will take much longer to affect things.
     
  5. iShater macrumors 604

    iShater

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    You are 100% correct. But a lot of what is happening in the stock market is the result of the emotional side. Always has been unfortunately, so there is only hope that whoever takes the next presidency, people will settle down. :eek:
     
  6. sushi Moderator emeritus

    sushi

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    Yeah, currently the market is very emotional.

    I am sure when the election results are released, and the new president is determined, we will see change. What that change will be, is the 64 dollar question.

    If Obama is elected, I would expect an initial positive movement, but then negative, or flat, when his "changes" don't occur fast enough -- which will happen since it is the nature of the beast.

    Not sure what we will see with McCain. Maybe we will see a market that slowly gets better.

    Regardless, the recent market move should be a wonderful lesson for the youngsters getting into the market. Usually the tortoise method is the best way to invest over time. Diversification is key.

    Getting back to policy. Simplistically, maybe for every new law passed an old one needs to be removed from the books. :)
     
  7. iShater macrumors 604

    iShater

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    #7
    Diversification and NOT PANICKING! Amazing how many people are pulling out when their stock is low vs. waiting for the long term recovery.

    Can you imagine if they removed old laws from the books? :eek:
    1) that would work wonders
    2) that would piss off a lot of special interests (on both sides)
     
  8. Anuba thread starter macrumors 68040

    Anuba

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    #8
    Yeah, that was my point.

    I'm not under the delusion that things will turn on a dime the minute a new president is sworn in. I'd be surprised if he's even able to clean up this mess in one 4-year term. But the economy is built on confidence, and I can't think of anyone who inspires less confidence than GWB. The mere sight of him is depressing. Is there any theoretical chance of GWB stepping down prematurely for the good of the planet? If so, what's the procedure? Would Cheney take over until January 20th? Assuming he won't -- he did say "If nominated, I will not run; if elected, I will not serve", after all -- who's third in command?
     
  9. iShater macrumors 604

    iShater

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    #9
    I surely hope he doesn't step down. He better go down with the ship!

    At this point whatever he does or says is probably NOT that big of a deal. Unless of course he starts another war.
     
  10. Anuba thread starter macrumors 68040

    Anuba

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    #10
    What if some other country declares war on the US on January 15, 2009? Will the new guy still be sworn in on the 20th, or will some law kick into effect that makes Bush commander-in-chief until further notice?
     
  11. Anuba thread starter macrumors 68040

    Anuba

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    #11
    A lesson from history...

    http://us.cnn.com/2008/POLITICS/10/09/eichengreen.depression/index.html

     

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