Posts Tagged ‘dow

08
Jul
14

President Barack Obama: Doing So Much Good For The Country

Obama New Yorker

****

Keith Boykin: Why Obama May Be The Best President Since WWII

I woke up this morning to a disturbingly silly headline. President Obama is the worst president since World War II, according to a plurality of voters in a Quinnipiac University poll released Wednesday. When you look beneath the numbers, it’s not what it looks like. Only about 33 percent of those polled called Obama the worst president, but that number roughly mirrors the percentage of Americans who identify themselves as Republicans, a group which has tried to sabotage, block, sue and impeach the president in recent years. So for the moment, forget what the polls say. The facts tell the real story of the Obama presidency, and the facts are damn good, especially compared to his predecessor. Under President Obama, the unemployment rate has fallen from 10 percent in 2009 to 6.3 percent today. Under George W. Bush, on the other hand, the unemployment rate rose from 4.2 percent to 7.8 percent. Under President Obama, the U.S. economy is gaining 200,000 jobs a month.

When Bush left office, however, we were losing 700,000 jobs a month. Under President Obama, at least 24 million people have gotten health insurance. The rate of uninsured has declined from 18 percent to 13.4 percent and the rate for Blacks has dropped dramatically from 20.9 percent to 14.7 percent. And despite all the exaggerated GOP claims that Obamacare would be a “job killer,” we’ve actually added more than 9 million new private sector jobs since the president signed the law. Under President Obama, businesses are also booming again. In the first few weeks of his presidency, the Dow Jones Industrial Average was sitting at 6547. Today it’s close to 17,000, a 10,000 point increase in five years!

Brk46CiCIAEhF34.jpg-large

And corporate profits hit an all-time record high just last year. President Obama ended the war in Iraq, drew down troops in Afghanistan, captured Osama Bin Laden, averted a second depression, helped to rescue the financial sector, stabilized home prices and saved more than a million jobs in the auto industry. At the same time, he enacted the most sweeping health care reform legislation in 50 years, something Richard Nixon, Jimmy Carter and Bill Clinton couldn’t do, and which Ronald Reagan and the two Bushes never wanted to do. as a student of history, as an unapologetic liberal, as an African-American, as a gay man, as a supporter of equal rights for women and as someone who knows what it’s like to lose a job and live without health insurance, I’d say President Obama has done more good for this country than any president before him.

More here

****

Obama-50-first-term-accomplishments

04
Jul
14

Happy Birthday, America And Thank You President Obama!

Brn5kRqCMAA_TBr.jpg-large

****

Spandan Chakrabarti: Not Just A Bull Market, Obama Recovery Points To A Strong Bull Economy

After employment data for June showed Barack Obama besting Bill Clinton’s record on sustained private sector job creation and June’s employment numbers crushing estimates, the DOW rallied to a historical high of over 17,000. To put it in perspective, the day Barack Obama took office in the midst of the greatest recession in (most of) living memory, the DOW lost over 330 points and closed at 7,949. the DOW wasn’t the only stock index to more than double its value over Obama’s presidency. In fact, all three stock indexes economists observe did. The NASDAQ more than tripled its value, going from 1,441 to 4486, and the S&P 500 closed at 1985 on Thursday, nearly 2.5 times its value at closing on January 20, 2009.

Consider a quick summary of yesterday’s jobs report: The economy has now gained private sector jobs for 52 months in a row, the longest ever on record, besting even Bill Clinton’s previous record of 51 months of sustained private sector job growth. In those 52 months, the economy has added 9.7 million private sector jobs. Adding 288,000 jobs, June not only blew past estimates, it marked 5 consecutive months of over-200,000 job additions for the first time since 1999. In the past year, the stubbornly high long-term unemployment rate has finally begun to drop. The last 12 months saw a 1.4 percentage point drop in unemployment, with fully half of that coming from the previously long-term unemployed finding work. The truth – and I know I keep repeating it – is that if any white president had accomplished Obama’s record on the stock market alone, let alone the rest of the recovery, they would be well on their way to be canonized as a bona fide American saint.

More here

****

firework

03
Jul
14

The Obama Economy Roars Ahead

****

Market Watch: The Great Obama Bull Market Will Roar Till 2016

Yes, it’s time to celebrate. We’re in a historic bull market. GOP conservatives keep fighting the wrong war, against the Obama economy. Meanwhile, the Obama bull market keeps roaring ahead!. And the long term looks even better: Bullish pundits predict stocks will continue climbing into the 2016 presidential election. Folks, this stock market has been roaring since March 2009 when the DJIA bottomed at 6,547, a painful 53.9% drop from the October 2007 high of 14,164 during the Wall Street bank credit crash in Bush’s last year as president. The S&P 500 also bottomed, at 676, a 56.6% drop. However, since March 2009 the stock market has been steadily climbing. Over five years. And the DJIA’s made a remarkable recovery, to just under its next big milestone, 17,000. While the S&P500 is nearing 2,000, headed up. Yes, market gains over 250% … and still climbing!

Brn6KDRCQAI8FBf.jpg-large

So what can we expect from the stock market by 2016 and the election of the next American president? More! Fabulous 250% gains so far. And bigger gains possible coming in the next couple years till we elect a new president. Maybe over 300%. Gains likely to favor a Democrat. Get it? GOP conservatives may have been successful in slowing America’s economic recovery. But the stock market is actually getting surprisingly stronger from this political war. With every Obama progressive move — Obamacare, ERA regulations, equal pay for women, gay rights, minimum wages, stem-cell research, immigration, Osama bin Laden, deficit cuts and so much more — GOP conservatives and the tea party learn little, only hear enough for another attack on Obama, offer no solutions, just opposition.

Brn6xZzCcAETdUX.jpg-large

Yes, the Great Obama Bull Market would be one for the history books. So, yes, in spite of the relentless GOP opposition, the attacks, legislative gridlock, economic headwinds, and global macroeconomic land mines put in his path, in spite of the ever-possible, unpredictable black swan, the Great Obama Seven-Year Bull Market, as financial history books will likely call it, may just keep thriving, overcoming obstacles, and roaring ahead predictably, hopefully till the next presidential election on November 3, 2016. And that label will stick no matter who gets elected the next president

More here

****

26
Dec
13

News Of The Day

BccS_t2CIAAdQFw.jpg-large

President Barack Obama signs the FY2014 Budget Bill this afternoon in Hawaii

****

****

****

Continue reading ‘News Of The Day’

06
Mar
13

Rise and Shine

Sign up!

****

Today:

The President has no scheduled public appearances

12:0: Jay Carney briefs the press

****

USA Today: Rain, snow, and heavy winds have forced a change in President Obama’s schedule for Wednesday: No Alabama football. The Crimson Tide, prepared to celebrate their third national championship in four years with another White House ceremony, canceled their flight from Tuscaloosa on Tuesday because of bad weather. Instead, Obama will have a string of private meetings while riding out the storm today.

****

Reuters: Private employers added 198,000 jobs in February, the biggest increase in a year and another sign of improvement in the labor market, a report by a payrolls processor showed on Wednesday.

Economists surveyed by Reuters had forecast the ADP National Employment Report would show a gain of 170,000 jobs. January’s private payrolls were revised up to an increase of 215,000 from the previously reported 192,000.

****

TPM: President Obama will hold a signing ceremony Thursday for the Violence Against Women Act, which recently passed Congress. He and Vice President Joe Biden, the original author of VAWA in 1994, will make remarks.

They’ll be joined, according to the White House, “by women’s organizations, law enforcement officials, tribal leaders, survivors, advocates and members of Congress.”

****

****

Jonathan Chait: Michael J. Boskin – former George W. Bush economic adviser, Hoover Institute fellow, and staunch advocate of conservative anti-tax doctrine – appears today, as is his wont, in The Wall Street Journal op-ed pages to warn that the Democratic president’s economic policies will lead us to misery.

If you are an investor, Boskin’s doomsaying is a sure sign of a coming bull market. Four years ago, Boskin penned a Journal op-ed whose thesis was captured in the headline, “Obama’s Radicalism Is Killing The Dow.” That was the signal for the Dow to go on a tear, doubling over the next four years…..

One might suppose that Boskin has simply suffered a single unfortunate coincidence. In fact, his career is a mighty testament to the power of enduring, invincible wrongness…..

Full post here

****

****

NYT: With Republican leaders in Congress forswearing budget negotiations over new revenues, President Obama has begun reaching around them to Republican lawmakers with a history of willingness to cut bipartisan deals.

Mr. Obama has invited about a dozen Republican senators out to dinner on Wednesday night, after speaking with several of them by phone in recent days, according to people familiar with the invitation. And next week, according to those people and others who did not want to be identified, he will make a rare foray to Capitol Hill to meet separately with the Republican and Democratic caucuses in both the Democratic-controlled Senate and the Republican-controlled House.

More here

****

****

****

Washington Post: Some of the gun lobby’s strongest allies are breaking with the National Rifle Association to support proposals that would expand background checks for private firearm sales.

In behind-the-scenes talks with congressional staff members and others, gunmakers, dealers and other Second Amendment advocates have offered support for more instant criminal background checks, buoying the hopes of gun-control supporters, including President Obama, who has put a top priority on extending criminal checks to private sales.

More here

****

****

****

USA Today: President Obama’s trip to Israel this month is just about set except for one big thing: A new Israeli government. Israel’s Channel 10 is reporting that Obama’s trip may be pushed back if Prime Minister Benjamin Netanyahu is unable to form a new coalition government by March 16.

More here

****

See here for full infographic – and more here

****

TPM: A number of Republican senators Tuesday either didn’t know or wouldn’t say if they consider the Voting Rights Act to be constitutional, even though many of them voted to reauthorize it in 2006 and the Supreme Court is currently considering whether to invalidate a key section of it.

As they entered and exited weekly party luncheons Tuesday afternoon …. Every one of them dodged the questions, some more artfully than others.

“Uh,” said Sen. Lindsey Graham, before a long, awkward pause, “I haven’t even thought about it.” He laughed and said, “I’ll leave that to the courts….”

More here

****

****

Make sure you add the Pragmatic Pundit to your daily reading – it’s the blog of our TOD friend FayPax. It’s in the blogroll on the right if you ever need to find the link

****

Missed this yesterday:

The First Lady’s interview on Univision’s Primer Impacto airs today – check your listings

****

MoooOOooooOOorning!

22
Feb
12

evening all

President Barack Obama and First Lady Michelle Obama talk in the Green Room of the White House before hosting a Smithsonian Museum of African American History reception in the East Room, Feb. 22, 2012. (Official White House Photo by Pete Souza)

****

****

President Barack Obama listens during the groundbreaking ceremony of the National Museum of African American History and Culture, February 22

****

****

Don’t miss Liberal Librarian’s latest post at The People’s View

****

Business Week

****

The Hill: The Congressional Budget Office said Wednesday that President Obama’s 2009 stimulus package continues to have a significant effect.

The bill raised fourth-quarter 2011 gross domestic product by as much as 1.5 percent, it states, and lowered the unemployment rate by as much as 1.1 percentage points.

The package reduced the rolls of the jobless by up to 2 million people in the last three months of 2011.

More here

****

*****

LA Times: Sales of previously owned homes rose 4.3% in January and inventories fell to nearly seven-year lows as lower prices, unusually warm weather and an improving economy lifted demand.

….. January sales were at a seasonally adjusted annual rate of 4.57 million …. Sales rose in all four major regions, including an 8.8% pop in the West.

Job creation, mild weather, rising rents and increased household formation contributed to the sales gains, according to Lawrence Yun, chief economist of the Realtors group. “Things are genuinely improving,” Yun said.

More here

****

****

Slate

****

****

Link

****

****

One photo, two cool cats.

Thank you Pam!

(You can buy the PBO poster here – thank you Donna Dem)

27
Oct
11

good evening, people

President Obama has dinner with campaign donors and winners of the “Dinner with Barack” contest at The Liberty Tavern in the Clarendon neighborhood of Arlington, Va.

****

MSNBC: Medicare’s basic monthly premium will rise significantly less than expected next year, the government announced Thursday. That could pay political dividends for President Barack Obama and for Democrats struggling to win over seniors in a close election.

…. In a statement accompanying release of the Medicare premiums, Health and Human Services Secretary Kathleen Sebelius asserted that seniors have nothing to fear from the new health care law.

“The Affordable Care Act is helping to keep Medicare strong and affordable,” she said. “People with Medicare are seeing higher quality benefits, better health care choices and lower costs.”

Full post here

****

Crooks and Liars: …. why in the hell does Pat Buchanan still have a job at MSNBC?

Color of Change would like to know the answer to that and ask for your signature on a petition to MSNBC (you can sign the petition here)

…..There’s no excuse for lending legitimacy and a national platform for such archaic and hateful attitudes. MSNBC has fired others for much less. Pat Buchanan needs to go.

More at Media Matters

****

****

ThinkProgress: Republican presidential candidate Rick Perry released a tax plan this week that he and many media reports called a “20 percent flat tax.” But Perry’s new alternative tax scheme is hardly “flat”.

Leaving aside the fact that it is layered on top of the existing tax code, it establishes not one but two different tax rates: 20 percent for wages, and zero percent for investment income. Because capital gains and dividends would be sheltered from taxes under Perry’s plan, some of the wealthiest Americans would wind up paying nowhere near 20 percent overall.

In fact, billionaire Warren Buffett, who has lamented the fact that he currently pays only 11 percent of his adjusted gross income in federal income taxes, would pay as little as 0.2 percent under Perry’s plan.

Full post here

****

Clever Google:

;-)

*****

ABC: Today’s New York Times story … includes an intriguing reference to a staff memo directing those traveling in a car with Mr. Cain, “Do not speak to him unless you are spoken to.”

Could the affable Mr. Cain really have a “don’t-talk-to-me-unless-I-talk-to-you” policy?

Yes. He does. Really.

A top aide to Mr. Cain explains to me why.

“It’s the same policy for any Secretary of Defense or four-star general,” a senior Cain staffer explained to ABC News. “You don’t talk to them unless they talk to you, generally. Sometimes you get guests in the car and they want to talk and talk and talk, and then Mr. Cain wants to prepare for the next interview or the next speech and he’s very engaging, so it can be a distraction. After a while, he gets to the point where he doesn’t want to talk, but wants to prepare for what he’s doing next.”

****

More excellent comedy from Dick Halperin today in Time. He magnificently ignored all the polls that show President Obama leading RomPerryCain in swing states, and concluded that if the election was held today he’d lose.

It’d be nice, though, if Halperin had an original thought:

Mark Halperin (today): Is President Obama on the ropes? …. The coalition that helped elect the President …. has been disbanded.

Mark Halperin (December 2010): The coalition that got Barack Obama elected President just two years ago has been shattered ….

:roll:

Last year, Alex Pareene of Salon (which I seriously hate linking because it’s become Firebagger Central) did a series on “the worst columnists and cable news commentators America has to offer …. the most predictable, dishonest and just plain stupid pundits in the media.” Halperin had to settle for the runners-up prize, behind Richard Cohen. It’s worth a read again:

Alex Pareene (2010): Mark Halperin – The Drudge-loving political analyst who gets everything wrong …. his belief in the unerring political instincts of Karl Rove and the godlike omniscience of Matt Drudge ….

…. Halperin’s worst quality is actually that he is constantly wrong. He is a professional political analyst, yet he often seems to be completely, 100 percent wrong about even the horse-race aspects of politics that he specializes in. He kept promising, in 2006, that Bush’s approval ratings would once again surge past 50 percent. Remember when John McCain “suspended his campaign” to fix the economy? Mark Halperin said McCain won the week.

The book Halperin wrote …. “The Way to Win,” his preview of “the way to win” the presidential election in 2008. His advice was to emulate Karl Rove and worship Matt Drudge – the key to victory seemed to involve a lot of Matt Drudge – and the 2008 election as it actually happened made the whole book (which he co-wrote with Politico co-founder John Harris!) look utterly ridiculous.

… All we ask for is a little accountability. At the very least, Halperin’s TV chyron should read, “ALWAYS WRONG ABOUT EVERYTHING.”

Repeat offenses: Obsequious relationship to power, Drudge-baiting, awfulness, self-promotion, getting everything wrong.

Representative quote: “To see what the future could look like, click here.”

(The link, posted the night before the selection of Joe Biden as Barack Obama’s running mate, led to a photo of Sen. Obama with Sen. Dick Lugar.)

Full article here

When you click that link now, you get:

Oh dear.

****

Saintroscoe? I think I love you:

:lol:

****

Marketwatch: With a little more than two trading days left in the month, it is shaping up to be the best October ever for the Dow Jones Industrial Average. And that is saying something, since the Dow has existed since 1896, 115 years ago.

As of mid-day trading on Thursday, the Dow INDU is ahead more than 11% for the month. The previous record for the month of October was held by 1982, when the Dow turned in a 10.7% return. That’s an auspicious historical precedent, since that month came very early in that decade’s spectacular bull market which, arguably, didn’t end until nearly 20 years later.

****

Link

****

****

President Barack Obama talks with Mike Froman, Deputy National Security Advisor for International Economic Affairs, in the Oval Office, Oct. 27, 2011. (Official White House Photo by Pete Souza)

01
Feb
11

‘dow closes above 12,000 for first time since 2008′

Washington Post: The Dow Jones Industrial Average closed above 12,000 Tuesday for the first time since June 2008. The milestone was another mark of recovery from one of the worst financial crises in the nation’s history – and a sign that investors expect the economy to keep growing instead of taking a second dip into recession.

….The news raised hopes on the economic front. “We have issues; we have problems,” said James W. Paulsen, chief investment strategist at Wells Capital Management, an arm of Wells Fargo. “But I don’t think they’re as overwhelming as what everyone thought, and that’s why we’re back here as fast as we are.”

The Dow, an index of major corporate share prices, has now risen more than 83 percent in less than two years….Companies such as IBM, Apple, Netflix and Caterpillar have contributed to the momentum with encouraging year-end reports or upbeat financial forecasts…..

The symbolism of a Dow 12,000 could be as much political as economic. In his recent State of the Union address, President Obama noted that the stock market had “come roaring back.”

More here

And…..

AP: The best month for U.S. factories in nearly seven years is brightening the outlook for job growth.

Companies are exporting more construction and mining equipment, and Americans are buying more cars, appliances and computers.

The Institute for Supply Management, a private trade group, said Tuesday that its index of manufacturing activity rose last month to 60.8. It was the highest reading since May 2004 and the 18th straight month the sector has grown. Any reading above 50 indicates expansion.

The strong data on manufacturing activity was a major reason the Dow Jones industrial average closed above 12,000 for the first time since June 2008.

More here

04
Jan
11

‘if this is socialism, call me comrade’

Ritholtz.com: No politics or partisanship here, “just the facts ma’am”.  The stock market, as measured by the S&P500 (a capitalization-weighted index, published since 1957, of the prices of 500 large common stocks actively traded in the United States) is up just about 50 percent since President Obama’s inauguration …. only Eisenhower comes close, but not even in the same zip code. A 50 percent stock move does a lot “spreading the wealth around” and Joe the Plumber’s pension is in much better shape today than it was in November 2008.

Washington Monthly: For about the first two months after President Obama was inaugurated …. Wall Street indexes were dropping sharply … conservatives said the declines were evidence that the White House’s economic policies were a mess, if not an outright failure, and that the president didn’t know what he was doing.

…..The drop in the Dow, the Wall Street Journal insisted, was a direct result of investors evaluating “Mr Obama’s agenda and his approach to governance”. Karl Rove and Lou Dobbs made the same case. So did Rush Limbaugh, Sean Hannity, John Boehner, Mitt Romney…..

That was nearly two years ago, and wouldn’t you know it, they’re not saying that anymore.

….a chart like this one (see above) comes with all kinds of caveats … the value of a stock market index is hardly the best metric for measuring the strength of the economy …. and it’s easier to generate major gains like these when one starts from a very low point – and after eight years of disastrous Republican policies, Bush bequeathed an economy in shambles.

That said, there are some relevant angles to results like these, too. For example, it’s hard not to notice that the right seems awfully selective about when Wall Street indexes count – when the markets are down, Obama deserves the blame; when the markets are up; Obama doesn’t deserve the credit. It’s funny how that works. It’s also tough for unhinged conservatives to continue to insist that the White House is comprised of radical socialists, intent on destroying private enterprise, when major indexes have soared under Obama’s watch.

Full article here




@BarackObama

@WhiteHouse

@FLOTUS

@blog44

@PeteSouza

Enter your email address to receive notifications of new posts by email.

@TheObamaDiary

@NerdyWonka

@DaRiverZkind

@Lib_Librarian

@amk4obama

@zizii2

Categories

Blog Stats

  • 26,528,433 hits
July 2014
M T W T F S S
« Jun    
 123456
78910111213
14151617181920
21222324252627
28293031