The Dodge Retort

Tech, media and other interesting stuff

Poll: Has the Dow Hit Bottom?

Posted by jdodge349 on February 25, 2009

I was so optimistic when Barack was sworn in and I am still am, but he needs to tone down brutal frankness thing. We don’t need to hear every other day that we have yet to hit bottom. Coupled with Hillary’s trip to China to bolster Asian confidence in U.S. treasuries that only reminded us how indebted we are, Obama’s gloom has soured the markets in a big way.

No one is asking for a sugar coating — you know, the flying is safe lecture after a disastrous crash. Word is we’ll get a sober but hopeful message tonight. That sounds about right.

But we do want hopeful signs. Hey, Ford just won some key concessions from auto workers. Bill Ford and Alan Mulally are taking 30 per cent pay cuts. Mortgage rates are low. No president has ever accomplished so much in so little time. The skiing has never been better in New England.

We need positive signs, even small signs that stimulus is yielding results and that the mortgage rescue program is turning the tide on toxic loans. Once the tide starts to turn, momentum will build and we’ll pull out of this swoon. My take is no one other than a cool and fiercely-bright Obama  is the guy who can pull this off. So with that, please respond to my poll:

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One Response to “Poll: Has the Dow Hit Bottom?”

  1. Patrick said

    In reality neither Obama or McCain were prepared to address that actual problems with our economy. It will stumble along and “recover” despite ineffective gov’t intervention.

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