Saturday, April 10, 2010

Obama. Market polls are good, People polls not so good.

While the markets may have recovered certainly the unemployment rate is still quite high and no doubt many consumers are struggling with debt and mortgage payments. Companies have been slashing expenses, and shedding workers while there will be little pressure on wages. Not surprisingly profits are bounding back. This is what the markets see not the suffering of the unemployed and debt ridden workers. This is from msnbc.


Why ‘Obamanomics’ is working
Ignore polls, watch the markets: Economy is perking up



By Mike Dorning


A Bloomberg national poll in March found that Americans, by an almost 2-to-1 margin, believe the economy has gotten worse rather than better during the past year. The Market begs to differ. While President Obama's overall job approval rating has fallen to a new low of 44 percent, according to a CBS News Poll, down five points from late March, the judgment of the financial indexes has turned resoundingly positive. The Standard & Poor's 500-stock index is up more than 74 percent from its recessionary low in March 2009.

Mortgage rates are low. "We've had a phenomenal run in asset classes across the board," says Dan Greenhaus, chief economic strategist for Miller Tabak + Co., an institutional trading firm in New York. "If Obama was a Republican, we would hear a never-ending drumbeatWhile the markets may have recovered certainly the unemployment rate is still quite high and no doubt many consumers are struggling with debt and mortgage payments. Companies have been slashing expenses, and shedding workers while there will be little pressure on wages. Not surprisingly profits are bounding back. This is what the markets see not the suffering of the unemployed and debt ridden workers. This is from msnbc.


Why ‘Obamanomics’ is working
Ignore polls, watch the markets: Economy is perking up



By Mike Dorning


A Bloomberg national poll in March found that Americans, by an almost 2-to-1 margin, believe the economy has gotten worse rather than better during the past year. The Market begs to differ. While President Obama's overall job approval rating has fallen to a new low of 44 percent, according to a CBS News Poll, down five points from late March, the judgment of the financial indexes has turned resoundingly positive. The Standard & Poor's 500-stock index is up more than 74 percent from its recessionary low in March 2009.

Mortgage rates are low. "We've had a phenomenal run in asset classes across the board," says Dan Greenhaus, chief economic strategist for Miller Tabak + Co., an institutional trading firm in New York. "If Obama was a Republican, we would hear a never-ending drumbeat of news stories about markets voting in favor of the President."

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