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Poll: Americans more-optimistic about U.S. economy, president's performance

Posted Apr 7th 2009 3:50PM by Joseph Lazzaro (RSS feed)
Filed under: Forecasts, Good news, Headline news

Despite a deepening job slump and few signs that the recession that began in December 2007 is nearing an end, Americans have grown more optimistic about the U.S. economy and the country's direction in the 11 weeks since the inauguration of President Obama, the latest New York Times/CBS News poll shows.

Further, Americans approve of President Obama's handling of the economy, foreign policy, (wars in Iraq and Afghanistan), and two-thirds said they approved of his overall job performance.

Continue reading Poll: Americans more-optimistic about U.S. economy, president's performance

Serious Money: Frustration is not apathy!

Posted Mar 3rd 2009 2:00PM by Sheldon Liber (RSS feed)
Filed under: Management, Rants and raves, Scandals, Politics, Serious Money, Recession

One of our reader's who blesses us with frequent comment's, B. Harrison, left the following tidbit for us recently (responding to: Buffett suffers big losses at Berkshire Hathaway) and I thought I would share it because this sentiment comes to us frequently.
  • "And the American people are simply apathetically sitting back while our CORRUPT Congress who enabled and allowed all of the corporate FRAUDS, continues to allow the CORRUPT CEOs and Boards of Directors run those corporations, and to keep their ill gotten "weath" that they amassed while mismanaging the corporations, and orchestrating and perpetuating all of those FRAUDS."
I do not agree that the American people are "apathetically sitting back".... They are voicing their opinions on the web, in letters and emails to their representatives, they take to the streets and protest, they sell the stock of poorly run companies and file class action suits. The truth is that they are frustrated because our representatives have an unwavering singular focus, and that is to sustain themselves in office. Nothing takes a higher priority then that; it's called political self preservation.

Continue reading Serious Money: Frustration is not apathy!

Bailed out bank executives, if smart, will accept Obama's $500k cap

Posted Feb 4th 2009 7:30PM by Joseph Lazzaro (RSS feed)
Filed under: Politics, Recession, Financial Crisis

With the Obama administration's $500,000 executive pay cap for bailed out companies imposed, the more important and more determining question concerns how the American people respond.

Ironically, the public's reaction may hinge on how Wall Street and the broader financial community reacts.

Historically, Americans have opposed pay caps and generally looked unfavorably on government -- particularly federal government -- efforts to interfere with market-based valuations of talent / labor. In a nutshell, the public favors a minimum wage but believes "the sky's the limit" regarding compensation; if a board of directors, business partner or negotiated contract says you're worth $10 million a year in salary and bonus, then you deserve $10 million year.

Continue reading Bailed out bank executives, if smart, will accept Obama's $500k cap

When evaluating economic polls, subtract 15-20%

Posted Jan 20th 2009 1:10PM by Joseph Lazzaro (RSS feed)
Filed under: Politics, Recession, Financial Crisis

A note on economic polls: when evaluating them, subtract 15-20%. Case in point: U.S. public opinion toward outgoing President George W. Bush.

A CNN/Opinion Research Corporation poll taken in December 2008 found the following:

Despite the worst U.S. recession in decades, rising unemployment, declining median incomes, unprecedented home foreclosures, massive U.S. government borrowing to bailout / rescue the bank sector, and the lowest job creation of any eight-year president in the modern era, the poll found that:
  • 23% of the American people said they would miss Bush, 25% said Bush managed government effectively, and about a third said he would go down in history as a good president.
Roughly a third of Americans viewing Bush as a good president?, with 25% saying he managed the government effectively? What's going on here?

Who are these people? Upper-income Americans or strong Republicans?

Exactly: either, or possibly both, which is why you need to deduct 15-20% when reading a poll, to gauge a president's support, particularly on economic issues.

Continue reading When evaluating economic polls, subtract 15-20%

Economists: Pass bailout bill with an equity stake for U.S. taxpayers

Posted Sep 24th 2008 2:15PM by Joseph Lazzaro (RSS feed)
Filed under: International markets, Forecasts, Other issues, Politics, Financial Crisis

The U.S. Treasury's $700 billion bailout bill is winding its way through the Congress.

To say the situation is dynamic and fluid would be the understatement of the year. The Congress, led by U.S. Rep. Barney Frank (D-Mass.), chairman of the House Financial Services Committee, and U.S. Sen. Chris Dodd (D-Conn.), chairman of the Senate Banking Committee, is likely to propose and obtain substantial changes in the legislation, changes it believes will better protect the U.S. taxpayer and more efficiently deploy the. funds allocated.

The American people, if public opinion polls are an accurate gauge, are skeptical of the plan at best, and at worst view it as rewarding large financial institutions and other companies whose flawed practices both perpetuated and magnified the crisis.

In addition, with an election up ahead in about a month, Congress (particularly the 435 representatives and 35 senators up for re-election) will be especially sensitive to public opinion, with many not wanting to go against it for fear of being voted out of office.

Is the bailout bill a solution?

With the above as a backdrop, BloggingStocks Wednesday asked three economists, David H. Wang, Richard Felson, and Peter Dawson, for their policy recommendation.

Continue reading Economists: Pass bailout bill with an equity stake for U.S. taxpayers

As housing prices go, public's verdict on economic policies follow

Posted Jun 9th 2008 6:42PM by Joseph Lazzaro (RSS feed)
Filed under: Economic data, Politics, Housing

Are public attitudes toward the U.S. government's economic policy linked to housing prices?

There are other factors involved, but over the past three decades there has been a correlation between the two conditions, The New York Times reported.

When home prices are rising at a pace moderately faster than inflation, consumers tend to think well of the U.S. Government's economic policies, The Times reported, citing Haver Analytics.

For example, during the U.S. housing market's two, prior housing booms, 1984-1987 during the Reagan Administration, and 1996-1998 during the Clinton Administration, consumers, on average, approved of the government's economic policies, The Times reported.

Continue reading As housing prices go, public's verdict on economic policies follow

Symbol Lookup
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DJIA-154.4810,309.92
NASDAQ-37.612,138.44
S&P 500-19.141,091.49

Last updated: November 28, 2009: 05:31 AM

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