I dunno. His approval rating is still really high. There's a big disconnect between expert opinion and public opinion as I'm finding out reading the econobloggers out there.
Over time, as Obama can no longer blame someone else for the problems, his approval rating will drop into W-like numbers.
There is one thing that strikes me when looking at the long-term DJIA, though: look at the curve here, making sure to select "Max" for the range. What I see is that the DJIA was increasing more or less linearly from about 1982 to 1994, and then it abruptly took off as the "tech bubble" hit, followed by a sharp dip, and another rise for the "housing bubble". The thing is, if you extrapolate that linear portion from 1982-94 up to the present, you hit - right about 6500, which is pretty close to where we are now.
I think stocks have been overvalued to a more-or-less outrageous extent since at least 1995, and we are *just now* coming back down to reality. As investors panic, they may dump stocks to an even lower value for a bit, but I think that when all the dust settles the DJIA will be right around 6500 - 7000, and that this is where it should have been all along.
wow.
ReplyDeleteThe boys math teach said that Obama's approval rating is lower than Bush's was 8 years ago.
Is that true?
I dunno. His approval rating is still really high. There's a big disconnect between expert opinion and public opinion as I'm finding out reading the econobloggers out there.
ReplyDeleteOver time, as Obama can no longer blame someone else for the problems, his approval rating will drop into W-like numbers.
Hey, don't sweat the daily ups and downs and downs and downs and we'll be just fine.
ReplyDeleteThe One says we shouldn't base policy on the market, but apparently missed the reality that the market is being driven by policy.
(goodying)
There is one thing that strikes me when looking at the long-term DJIA, though: look at the curve here, making sure to select "Max" for the range. What I see is that the DJIA was increasing more or less linearly from about 1982 to 1994, and then it abruptly took off as the "tech bubble" hit, followed by a sharp dip, and another rise for the "housing bubble". The thing is, if you extrapolate that linear portion from 1982-94 up to the present, you hit - right about 6500, which is pretty close to where we are now.
ReplyDeleteI think stocks have been overvalued to a more-or-less outrageous extent since at least 1995, and we are *just now* coming back down to reality. As investors panic, they may dump stocks to an even lower value for a bit, but I think that when all the dust settles the DJIA will be right around 6500 - 7000, and that this is where it should have been all along.