President Obama’s 2,000-point tumble
On Nov. 4, after Barack Obama clinched the White House, the market closed at 9,625.28.
In mid-morning trading today, the day President Obama signs his massive Generational Theft Act into law and a day before he unveils a massive new mortgage entitlement, the Dow dropped to to 7,606.53.
Now, imagine if President Bush had presided over a 2,000-point stock market tumble in the same time period — during the first few months of his presidency.
Great start, O.
Just saying…
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Way to go, Obama….
This is change we can believe in
Uh huh–now tell me about the swamp land in the desert you want to sell me
Let us also note the jump in unemployment since he won the election.
heckofajob obama,, to be fair, he wasn’t sworn in till 1/20/09. But the market droped like a rock both 11/5/09 and 1/20/09 so….
They still blame it on “the failed economic policies of the Bush administration”.
WOW! 2,000 point fall already??!! And none of the provisions has been implemented yet.
As they say, “You ain’t seen nothing yet.” This is only the beginning.
Well you see all was sweetness and light from the time FDR was elected till Bush jr was elected. What followed was a dark hell like existence of war and poverty for 8 years. Now obama will save us!!!
/sarc off
Just part of the plan to bankrupt the USA and for nationalization (socialism) to take over…by this time next year we will all be card carrying commies.
Down 240 this morning…
According to the MSM, nothing to see here move along to the “free” gifts the Messiah is giving away.
Just saying, didnt stocks go from 12,000 to 9,600 on Bush’s watch?
Let’s see, roughly 3 1/2 months to drop 2000 points to 7606. I guess that means that sometime next spring the market will be at zero. Wow, that’s change alright, but not much hope. Guess I better start looking up phone numbers for some bullion dealers.
There was funny activity in the overnight currency markets. Dollar up against the Yen, which was up against the Euro. Post I read said it didn’t appear to be computer triggered, and billions of dollars were involved.
I smell Soros.
http://www.nwtmint.com/
My husband and I retired a little over a year ago with plans to travel, enjoy our grandchildren, and live in comfort. We didn’t retire with a ton of money, just good investments that were working for us. We invested wisely and have a good portion of our money in “safe” accounts (which aren’t so “safe” any more). Thanks to the liberals, we may both be passing out carts at Wal Mart when we are 80! Great job, a$$hats! You are really looking out for the people!
Michell, it’s all about the Love, you and I both get a shout out from Cinie, African American Woman also Blogging PUMA issues. Not an Obama Groupie
The Obama Markters know “Sex Sells”
http://cinie.wordpress.com/2009/02/16/selling-obamalove/
This is exactly what the socialists/fascists/statists/collectivists want.
Just as they root (as they have for 45+ yars) for America to lose in struggles across the globe; they root for economic turmoil; and collapse, because it gives them an opportunity to acquire/increase/consolidate power.
These parasites want and need a host that is sufficiently weakened so as to supply a continuous food source:
if the host is too weakened, it dies, and the parasite is S.O.L.;
if the host is too strong, it can eliminate the parasite, and, again, the parasite is S.O.L.
To repeat, this is exactly what the socialists/etc want.
The MSM’s cries of catastrophe and calls for impeachment – led by the NYT – would have had half the citizens running rampant in the streets, pillaging and looting, while the other half barricaded themselves in their homes, paralyzed by fear.
But with Obama in the WH, the media seem to be content just accepting things as they occur.
Well, the panicked response of Bernanke et al didn’t help.
But from the minimum end 2002/2003 at about 8,000, after the Clinton-Gore slowdown that started in Summer 2000 and officially became a recession in March 2001 when Bush had been in office a month, made much worse by the 9-11 attacks, Bush was essentially neutral.
And, all the recent slide started after the 2006 mid-terms when the Demonrats regained Congress.
Lets put it this way, Bush had some mildly socialistic tendencies, the Dem description that he was some sort of arch-conservative is quite laughable. The budget deficits, lack of discipline, and poor response to the Democrat created sub-prime mortgage crisis didn’t help.
But a full bore Marxist (or is he actually a Fascist or a national socialist) in the White House can’t be good for the markets. And the markets know it.
Woohoo! If this keeps up my single gold coin should be able to buy the entire stock market soon!
Yep, and I smelled Soros during the obnoxious run-up on oil prices — in time, of course, for the elections.
It will never be known, but it would have been interesting to see what the Dow would have done from November 4 to today, if Obama and the Congress had not done or said anything.
My thought is that the Dow would actually be up slightly by now.
This is like treating an anemia patient with leeches.
After 4 years they will probably still be blaming Bush.
The social democrats forced banks to make risky loans beginning around 1977. Thirty years later when the loans came due, certain people defaulted and wanted more welfare money.
You forgot, it is Bushes fault still, not Obama’s.
Yep.
Been saying that for a few months.
Too much “coincidence”, to be coincidences.
BTW, I imagine Obama has about a year to engineer a humiliating defeat in Iraq and/or Afghanistan, and still be able to rely on his faithful aides in the MSM blaming it on Bush.
Just a funny feeling I got. For example, why did two Congressional Demonrats, including Feinstein, decide to leak classified info that we had Predator bases in Pakistan?
Just a funny feeling.
southsideironworks said:
Just saying, didnt stocks go from 12,000 to 9,600 on Bush’s watch?
Yes, but Obama is the savior. It should be all better now.
Wait a minute. It was supposed to all sunshine and lollipops once Obama was elected. Now put on a happy face…
…or it’s off to the reeducation camps for you.
And all this financial vulnerability feeds right into Al Queda’s plans:
Read this.
Oh but you see, we must give our terrorists at Gitmo their “rights” and we need to “talk” to Iran and make nicey nice.
And Cheney has already warned. It’s not a matter of if anymore, it’s a matter of when.
Gird your loins, conservatives.
Very, very bad things are going to happen soon.
Liberals don’t need to do anything. As soon as the Obamessiah signs the Porkulus he’s going to start sending you money. (I have actually been told that by several liberals.)
In May of 2008 during a speech in Oregon, obama said, “We can’t drive our SUVs and eat as much as we want and keep our homes on 72 degrees at all times…and then just expect that other countries are going to say OK…That’s not leadership. That’s not going to happen.”
This man is now president and of course the stock market is going to sink as our economy sinks because he wants it to.
Exactly!
No. You see, if McCain had been elected, the market would’ve gone to zero. The Obama-siah staved it off by the force of his charisma. Right, lgm?
All you conservatives have been warned.
Now the beatings will continue until morale improves.
biglee444 #32
Recall also that Obama liked $4/gallon gasoline, because it would cut down on our driving.
And he wants to bankrupt the coal industry.
The dems own it. They’re the ones who think one can spend more money than one has and still be prosperous.
All of the money (and more) that I might get in tax breaks from the porkulus package will go to tax increases in California to pay outrageous salaries and benefits to state union workers. The money the feds will borrow for this will be financed by the Chinese. Ain’t America great. Mr. Obama, do me a favor; get a 401B visa immigrant to take my job and then send me to a rice commune in China. My life would be a lot more stress free.
“I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
Thomas Jefferson
or in work/re-education camps for those who dare to resist.
The
progressivescommies now running our government must have a total colapse of the engines of capitalism to succeed.As heard on Bill Bennett this morning: Socialism works… until you run out of the other guy’s money.
It is a “heck of a job” so far by Barry O – devastating the privately held retirement accounts of millions of Americans enables the Fascist (yes, look at Michael Ledeen’s column) economic regime to expand its reach into Americans’ lives.
Wow; glad I kept my Krugerrands….
Fixed it for you.
Fixed it for you.
http://www.thebulliondesk.com/
Metals are holding thier vslue and are even increasing in value.
Krugerrands (1oz) are not worth 969 each. In gold content alone.
..and they wonder why the American people have lost confidence.
Japan’s GDP shrunk by 12.7% last year. Funny how they can never explain exactly how Bush accomplished that.
I was being facetious; but whatevah.
It’s actually much more than 2000. Wall Street was fretting about the impending Obammunist win many weeks before the election.
Investors in the know pull their investments from an impending Marxist/collectivist/confiscationalist environment early on.
Thanks for the link. Interesting and enjoyable reading..the truth is in the back story and thanks to people like this, the truth is being told.
What he meant to say was, “YOU can’t drive your SUV’s, but I can fly in Air Force One to Valentine’s dinners with my wife (apparently the White House food wasn’t good enough, so they had to go to Chicago). YOU can’t eat as much as you want. But I can dine on arugula and $100/lb steak. YOU can’t keep your home on 72 degrees at all times, But I can turn up the heat in the White House any time I want! Because elections have consequences and I won! Also I am a member of the “prominent” class and YOU are a member of the “loud, chattering, gun toting, Bible thumping” class! A true President for ALL the people! Gag. And by the way, are other countries supposed to say O.K. before we can do these things? Since when? Oh yeah, since January 20, 2009.
***
History repeats itself–like Yogi said, “Deja Vu all over again!”
***
The financial collapse in Weimer Germany gave Adolf Hitler control of Nazi Germany. Inflation of the money supply was rampant.
***
But don’t worry–the (pick one or more) MESSIAH, LIGHTWORKER, THE ONE can still wave his magic wand and fix our economic problems. This is easy compared to his making the seas recede and the global warming problems go away.
***
As President Obama said, “This is just the beginning!” Wait until full amnesty for 20 million? ILLEGAL ALIENS (not “undocumented workers”) and their families kicks in. And just wait for the no growth high cost green energy boondogles!
***
Hope and change my A**! The stock market is the handwriting on the wall, and is the referendum on the Obama democratic / liberal / socialist / marxist / communistic plans that are coming to the new U.S.S.A.
***
John Bibb
***
This is all going exactly the way Obama intends.
One lesson the Democrats taught us and which they were so good at during the Bush years, is we can now start hyping the Failed Presidency of Obama or the Failed Economic Policies of the Democrats. It doesn’t take a prophet to see the direction we’re headed.
Also, we don’t want to let the libs forget about their Culture of Corruption that keeps blosoming like an apple tree in the spring.
Not sure how a community organizer is qualified to fix the economy.
I’m starting to succumb to bunker mentality. I’ve even drawn up a list of names of the people I trust and need.
So far, bailing out the auto industry doesnt seem to have worked. We have no energy security, so even if the economy rebounds, fuel prices will shoot up, and push us right back off the cliff, just a $1Tril more in debt than we started.
Porkulus may give courts the right to force banks to modify mortgages of those with otherwise good loans simply because their property values have declined significantly over the last two years.
ABC News has been touting a young couple from Tucson AZ I believe. Their only fault was buying into a development that never sold out and are stuck with a $300K home thats worth about $120K now. They seek relief on their mortgage, not because they got a lousy loan, its because their home VALUE plummeted. Porkulus will artificially prop up the value homes and people wont buy, because they dont trust the market.
Never forget…THE DEMOCRATS OWN THIS!! Never forget that! This is going to bite them! You know, those women’s fantasies…something about Barack and handcuffs? I too have a fantasy. I dream he is being led out of the White House by the military police and he is in handcuffs.
Personally, I wish Hannity would quit calling Obama the “Messiah” and referencing some “love affair” he says is going on in this country. Hannity is doing the MSMs work for them. I guess he’s trying to be sarcastic but it’s having the opposite effect.
The saddest thing about this is that this loss in capital goes to noone. It helps NOONE,poor or rich. It has vanished into thin air, making everyone feel poorer and furthering the decline. Why can’t Obama see the era in his thinking? I guess this is his desire, to wipe out the investor class and make us all workers for the state. My fears have been realized and justified.
So how come I can’t go to some community & buy what had been a $300,000 house for $120,000? If the value has fallen that far, why don’t they just offer the empty house to me for the lower price? I don’t get it.
(Can you tell I’ve been house shopping?)
I so hope your are right HS. My husband believes this country will be going gang busters in 2 years if nothing would have been done. But now that this stimulus package has been passed, Obama will take credit (excuse the pun) for the upturn. I’m with you on this though…Obama escorted by military police. Pelosi, Reid, Barney Fife, Schumer, all of them…tar and feathered.
He is the communist b@#$#$@ I suspected. I’m sure he is so proud of Chavez and his work.
Nobody wants to live on a block full of vacant homes.
Ah, but you see, he is smart. He is trying to create a dependent society – dependent on government to come to the rescue, so that the makeup of this country is forever changed — of course, towards a socialist society.
Why else do you think a vote’s coming up again to put a representative (Democrat, of course) in DC? Anything that adds to the Democrat majority, they have to do…
Why do you suppose Rahm is going to be in charge of the Census?
This is all part of “the plan”.
Now that Facebook says it owns all comments and content on it’s site even if you ask to be removed, I guess I should be careful what I say here because it is probably monitored and they will be coming to get me instead of getting the gang mentioned above
its obvious, the markets are RACIST!!!
its a conspiracy of right wing christians and neocons (jooooos)
to ruin the economy
we need a final solution for the christianist and jewish problem..
<blockquoteOn February 17th, 2009 at 11:28 am, Misscheryl said:
This is all going exactly the way Obama intends.
absolutely true. the saul alinsky playbook…create a crisis….increase control by ‘solving’ it…while creating a new crisis…
BTW, my kids are looking for houses in the DC area and a house that previously sold for over 600 is being offered for under 400.
I do.
Wighttrasch – (rhetorical question)-would you sell your $300,000 home for $120,000 if you knew or suspected that Uncle Sugar was going to prop up the price?
The better option (for the bank) would be for the bank to foreclose if payments are late, kick the consumer out of the house and hold on in the hopes the bail out will cover their losses – not only on the loan but from the market depreciation. What a win win situation for them.
Anyone wonder why the auto industry has to pay their stimulus “loans” back with interest but the banks don’t. They just get pots of money handed to them gratis with no accountability.
I think it reads more accurately this way.
“The Legacy of the Failed Policies of the Bush Administration”(TM) is something we’ll be able to put to music before 2012, especially once it becomes impossible even for his media sucklings to deny what Hope-a-Dope really is: a Vaudevillian nightmare of Jimmy Carter in blackface.
The silver lining is that those who yearn for Ronald Reagan will soon be able to paraphrase one of his wonderful quips from 1980:
“It’s a ‘recession’ when your neighbor loses his job; it’s a ‘depression’ when you lose yours; and it’s a ‘recovery’ when Hope-a-Dope loses his.”
You’re right – until this nation has true energy security, the economy will never fully stabilize and experience sustained, efficient growth.
Of course the Appalachian people could provide the nation with decades of secure energy (and according to Diane Sawyer, the folks here could really use the money), but the black gold beneath our feet may soon be off limits: it appears the Obama administration only likes clean coal.
Well, ummmm, uhhh, I inherited it from the disastrous Bush administration.
Oh, by the way. Did you know I Won!
The “plan” is working and Americans go forth like sheep to the slaughter. I don’t see a way out.
Jack Kinsella wrote on July 25, 2002:
The 19th century philosopher Georg Hegel outlined the crisis management dialectic that bears his name.
Hegel concluded that conflict creates history. Therefore, he concludes, history can be shaped by conflict. Hegel concluded that a population can be convinced to work against its own best interests via the application of a logical three stage program.
The Hegelian Dialectic offers a thesis, an antithesis, and resolves the argument between the two with a synthesis, which is presented to avoid a crisis. The crisis is often designed for the purpose of getting acceptance of the synthesis.
Thesis: Americans will blame the incumbent for an economic downturn and vote against the incumbent party.
Synthesis: Identify a connection between the party in power and the market downturn, continuing to talk down the market, talk up corporate fraud and scare small investors out of the stock market.
Antithesis: If enough people pull their money out, the market will head south, jobs will be lost, causing a ripple effect across the lower socio-economic strata [that the Democrats claim as their base] and those injured by the economy will vote for the Democrats.
They’ll worry about how to undo the damage they are doing in order to win votes after they accomplish their primary goal. Which is not to help the economy, by the way. It is to get elected.
It took the Dems longer than they planned and they may have gone too far and can’t fix the problem they and the MSM created.
Go read the Declaration of Independence, you’ll see the way clearly then.
Not just following Saul but look at the Protocols of Zion!
The Protocols of Zion? REALLY???
Democrats, building a constituency, one artificially manufactured crisis after another.
I can read it till I’m blue in the face, but it will make little difference if a majority of Americans don’t agree with it or me.
iamsaved: I also would not try to sell my $120,000 house for an overinflated price.
But everyone is a gangster nowadays–stupid gangsters too.
Case in point–I live in a small, rural farming community town (less than 5000 pop.). There is a large, historic home for sale in town. A couple of years ago it was up for sale (the first time) for something like $395000. Nobody bit. A new agent has it now & it is listed at nearly a million. Forgive me, but that has got to be pathological stupidity right there.
Wait…
I thought water levels were supposed to fall with the One.
If you go back to when he gained an insurmountable lead in the polls, the DOW is down about 5,000 points. I hope I have some change left in my portfolio in 4 years.
Just bought 4 bars of silver. Its gone up about 30% this week and demand for metals is growing. BTW that is NOT a good sign for the economy as a whole.
I firmly expect the DJIA will approach 5000 in the next 18 months. All the government spending and meddling in the markets and the economy will prevent the market from correcting itself.
We cannot make rational decisions with the government changing the rules every two months. If the market cannot make rational decisions it will behave irrationally.
I feel very sorry for all of us who have had our retirement accounts looted by George Bush. But Obama is going to double down on Bush’s mess and things will get worse. I will never retire. I will work right up to the time the government decides to euthanize me unless we take back the government in the next few years. Serfdom rots!
I’m wondering how long Obama will use the “Blame Bush” card before America will realize that Socialism is not the cure that Obama thinks it is? Three months? Six?
Of course at that point, all the debt that was racked up to steal the next two generations will have been purchased by China and we will be known as “East China.”
the socialists of new york city and california are as responsible for this mess as anyone. they contributed mightily to the one, so if new york and california go bankrupt, oh well. you keep spending opm and hoping no one notices. the one republican in california is being villified for not going along with the block democrat vote to raise taxes and keep on spending what they don’t have and can’t possibly get. at what point do these tax and spend socialists recognize the well is dry? we already have socialist commitments from our government that equal the entire gdp of the world, and these morons want to keep offering 20 year pension plans to government workers when the non government worker has a 43 year social security deal. teachers have bribed the political class into giving them guaranteed for life jobs with a pension after 25 years plus health care, which is only 5 years longer than we give soldiers. i see a reason for soldiers to retire at 40 – 50, charging that hill is a young man’s game, but teachers? now our generous government wants to convert the autoworkers pension plan into a government pension plan, but what taxpayer signed the gm contract transferring that debt load in the unfortunate event gm goes belly up.
I believe the course our nation is on is the course the Titanic took into the iceberg. Obama mania is to big to turn in time to avoid a deadly crash. We just need to find the lifeboats, realizing there are not enough for everyone.
- The propagation of ideas, such as Darwinism, Marxism, Nietzsche-ism, Liberalism, Socialism, Communism, Anarchism, and Utopianism, with the task of undermining established forms of order. Check
- World government strong>Check
- Staging catastrophes against one’s own people, then claiming a moral high ground for leverage (False flag) Check
- The destruction of Christianity and other religions and cultures, followed by a transitional stage of atheism Check
- Undermining financial systems by foreign loans, creating national bankruptcy, destroying money markets and replacing them with government credit institutions Check
should I go on ?
The irony of course, is that this is the same playbook that loudmouths like Al Gore accused Bush 43 of running with 9/11. The major difference being that Bush didn’t manufacture 9/11 (I don’t care what Rosie’s Troofers say), and it was a real crisis. So what I’m saying is, it’s nothing like the current situation.
Well, if somebody’s going to own my thoughts and words, it might as well be Michelle Malkin (not that she would want to own my senseless banterings.)
So Herbert Hoover is finally off the hook? Yes, they will blame Bush, Rush or Michelle, Laura Ingrahm or Ann Coulter and such for all their failures.
At what point does BHO ask for martial law and the elimination of term limits? Everyone let’s sing:
“So comrades, come rally
And the last fight let us face
The Internationale unites the human race.
So comrades, come rally
And the last fight let us face
The Internationale unites the human race.”
In spite of the propaganda, the markets know that Socialism doesn’t work. Now if Voters would learn.
Cosmo,
Are you calling me a Troofer of some kind? Heh. I may be giving Dems too much credit for trying to build a constituency through crisis, but their meddling sure did cause a mess.
D.I.T.T.O.
Actually, not so much irony. Human nature. Pretty base human nature, but human nature all the same.
About the same time they nationalize banks, wiping out shareholder values and 401k’s.
Sambo, the protocols of zion were writen by anti-jewish russians to provide a cover for progroms against jews. This has been established fact for quite a while. Now what you have there is a commuinist checklist, not anything from the mythical protocols of zion.