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| President Obama Signs the American Recovery & Re-Investment Act of 2009 |
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The Dow was lower on
28 Sept 2008
by only .49 points
On Sept 28th. talks of
"Financial Rescue" began.
Financial Rescue or Bail-Outs "says"
that some businesses will get help while others will not.
The Banks and Wall Street or Certain Big Corporations
are going to be "protected"
no matter what they do
.... and so ends any pretense of:
"A Level Playing Field"
&
being interpreted as:
"The Game is Rigged"
(more than usual)
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| The Dow Continues to Drop as Wall Street calls for a New Boston Tea Party & Rick Santelli leads a Trader-Mortgage Revolt ... The Chicago Tea Party .... et al |
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| At its lowest level in more than 6 years ... the Dow ... on Day "2" of the "Stimulus Bill" One Reason:
- Worries that Bank Stock will plummet even more; never to rise again. Some bank stocks already at rock bottom.
- Also: Mortgage Owners who struggle every month to make their payments are upset that those who haven't been able to make their payments will have those payments made for them ....
- ,,,,, while they, (Mortgage Owners who are current) will continue to struggle without any help. Everybody could use that extra mortgage payment money to buy other necessities.
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The problem thus far is the average "Joe" see no help on the horizon
No jobs (they're all in the Phillipines, China, India or "somewhere else"
The Threat of more T A X E S
The Idea that if the U.S. has nothing to look forward to that resembles the
"good 'ol "U. S. of A." .... suggesting that innovation & independence is going to be replaced by government-backed Institutions be they Banks, Unions, or Ideology-driven businesses;
is this end of the spectrum any better or maybe even worse?
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| Going on Day Three ... |
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If the Banks become
"Nationalized"
then the stock being held by the stock holders becomes
.... worthless...
Wall Street is Plenty Worried!
Note: 02-23-2009 [Politico's Jonathan Martin is reporting that as of]
5:57 PM EST
Future Citigroup Chairman Richard Parsons was "moments ago"
at the Northwest Gate to the White House.
After identifying himself to the Secret Service, he announced
he was there for a meeting with Valerie Jarrett
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Fed Chairman Bernanke
says "NO" to Nationalizing Banks
and
says "YES" to the Recession being over in 2009
The Dow Responds →
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| DOW - 24 Feb 2009 |
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| President Obama Addresses Joint Session of Congress |
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| President Obama's 1st Address to a Joint Session of Congress: Obama seeks Public confidence and support for his Stimulus Bill: 9:00 PM EST - 24 Feb 2009 |
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| The DOW: 2-25-09 vs 2-27-08 ... |
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President Obama spoke to a Joint Session of Congress and to the American People to gain support for; and, confidence in ... his Stimulus Bill.
So far ... Wall Street still has
"The Jitters"
→
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| Dow - 2/27/2009 |
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| Shades of 1983! or: ... No, wait a minute, ..... better make that -1984- ...oh, & Click Image to Enlarge |
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- Wall Street is not happy after Citigroup, Inc turned over part of itself to "the Government"
- General Electric cut its quarterly dividend by 68%.
- On Friday's close: 02-27-2009, the Dow was down 50.1% and at its lowest since May 1, 1997 (the Clinton Years).
- The Dow's Record High was at 14, 164.53 in October 2007 (the Bush years).
- In general, for every one stock that rose on the NYSE, 2 stocks fell. Bond prices vary. 10 Yr Treasury Notes are up; 3-Month T-Bills are down.
- Health Care Stocks are down. (The White House Budget has included some cuts in health care spending) .
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- Gold Prices are down
- Light, Sweet Crude (oil prices) are down
NOTE: President Obama released his Budget and it hit 4 TRILLION Dollars (3.7 Trillion).
That amount of money .... which can only be obtained at this point by literally printing it ... is unheard of to date.
China owns the U. S debt to the tune of some 40%+ and the U.S. is off the Gold Standard. There wouldn't even be enough Gold to back that up.
Speaking of Gold .... what if the present government decides to "nationalize" gold? Just like the Bank Stocks ( if nationalized, the stock becomes worthless) .... Gold would then not be the safe haven it once was.
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President Obama's Stimulus Bill
[American Recovery & Re-Investment Act of 2009]
This bill is said to contain almost 9000 earmarks
.... "pork" ....
under different terminology
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BAIL OUT BILL
# "2"
[Note: No one in Congress actually read this Bill Before it was Signed and that includes the American People]
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What's Actually In the Bill?
→
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| Obama's Rescue Plan |
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| Military & Veterans |
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| TAXES |
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| ENERGY |
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| Labor, Health & Education |
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| URBAN DEVELOPMENT |
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| HEALTH INSURANCE ASSISTANCE |
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| Agriculture, Nutrition & Rural Development |
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| Defense & Security |
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| Unemployed & Struggling Families |
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