RE: DOW 6,958.59 stock market free fall boys and girls
It's Obama's fault, because the markets are forward-looking, and are pricing in his enormous debt costs to our future versus any positive impact they may have. The markets fell to a low level under Bush, S&P off 30% from its high in October '07, but have fallen another 30% justsince the election less than 3 months ago, when they began pricing in an Obama administration's impact on the economy and business.
RE: DOW 6,958.59 stock market free fall boys and girls
The market's falling because these are the people who deal in mostly hard-fact as
illustrated by numbers. The numbers are telling them the socialists are killing the value
of literally everything they touch. Conversely, the morons in charge in D.C. make literally
all decisions based on panic, emotion, and what do-gooding initiatives make THEM feel good,
no matter the effect. Don't worry about it...let's 'hope'....let's 'have a dream'...
you gotta believe....
RE: DOW 6,958.59 stock market free fall boys and girls
Quote:
ORIGINAL: DougMD
It's Obama's fault, because the markets are forward-looking, and are pricing in his enormous debt costs to our future versus any positive impact they may have. The markets fell to a low level under Bush, S&P off 30% from its high in October '07, but have fallen another 30% justsince the election less than 3 months ago, when they began pricing in an Obama administration's impact on the economy and business.
DougMD: You are correct, but I would like to amend and extend your remarks to put a slightly sharper point on things. The market plummeted to a bottom in October in the 8000s. One day the DOW would be up; next day the DOW would be down; but it traded in a broad range stuck between 9000 and 8000 from late October until after Obama took office -- for three months. Everyone can identify their favored signal date on which the DOW began to drop, but I would like to point out it wasn't the day after Obama's inauguration, or the day after that. My own favored signal date is the date Obama had announced for Treasury Secretary Gaitener (you know, the financial genius who couldn't figure out that the paper he signed four or five years in a row saying he understood that his salery was "grossed up" to address hisobligation to pay his social security taxes directly himself . . . didn't understand he was obligated to pay his social security taxes directly himself) to convey his plan for rescuing the financial institutions. You may notice, if you go back to look at the DOW trends, that the market really took a beating that day -- because Geitener's plan was a dud, absolutely no substance, no details, just generalized abstract goals. The market has been trending downwards steadily since then.
So, indeed, Obama is the guy who is presiding over this brutal ongoing devaluation of the stock market and our 401k's, and our national wealth. The market is responding in clear abhorence of his stimulus plan (inflationary while breaking the bank with awful deficit spending), his BS economic plans directed to wealth redistribution, and his non-plan for restoring the stability of financial markets.
I hope the Democrats enjoy their 15 minutes of domination: the way Obama and the Democrats are running this economy into the ground, the electorate isn't going to make the mistake a second time around. I hope we can all survive until the elections in 2010.
RE: DOW 6,958.59 stock market free fall boys and girls
I just read that since the Dems took control in 2006, the stack market has lost 50 percent of it's value. I don't know if that is accurate but it has to be close. Yeah, the blame it on Bush is starting to be a pretty lame answer. Not even a good joke anymore. I doubt that Bush had anything at all to do with it. Tough times.We got pulled out of the 401 last week, just in time.
DOW 6,837.29 stock market free fall boys and girls
