And the perfect metaphor for the Obama stock market plunge

By Michelle Malkin  •  February 23, 2009 06:14 PM

Obama-capulco Cliff Dive! Look out below…

(Also can be used to accompany news of AIG record loss report.)

No kidding:

Wall Street has turned the clock back to 1997. Investors unable to extinguish their worries about a recession that has no end in sight dumped stocks again Monday. The Dow Jones industrial average tumbled 251 points to its lowest close since Oct. 28, 1997, while the Standard & Poor’s 500 index logged its lowest finish since April 11, 1997.

All the major indexes slid more than 3 percent. The Dow is just over 100 points from 7,000.

“People left and right are throwing in the towel,” said Keith Springer, president of Capital Financial Advisory Services.

Investors pounded most financial stocks even as government agencies led by the Treasury Department said they would launch a revamped bank rescue program this week. The plan includes the option of increasing government ownership in financial institutions without having to pour more taxpayer money into them.

Although the government has said it doesn’t want to nationalize banks, many investors are clearly still concerned that this could be a possibility as banks continue to suffer severe losses because of the recession. They’re also worried that banks’ losses will keep escalating as the recession sends more borrowers into default.

“The biggest thing I see here is the incredible pessimism,” Springer said. “The government is doing a lousy job of alleviating fears.”

But hey, Obama’s pecs are still glistening

See what others have said

Note from Michelle: This section is for comments from michellemalkin.com's community of registered readers. Please don't assume that I agree with or endorse any particular comment just because I let it stand. A reminder: Anyone who fails to comply with my terms of use may lose his or her posting privilege.

Trackbacks

  1. Hussein Obama’s stock market plunge continues. Stock markets reach their lowest level since 1997. | Fire Andrea Mitchell!
  2. Perseverance and diligence through times of tribulation « Riggword Weblog
  3. [VIDEO]: Bobby Jindal’s Big Night « JoHNBRoDiGaNDoTCoM
  4. Three out of four Americans fearful about state of country according to CNN poll ($410 billion omnibus spending bill) « Goodtimepolitics
  5. You can fool some of the people all the time, and those are the ones you want to concentrate on | Right Voices
  6. Reaganomics At Work Thanks To The Stimulus Package — A Quarter Of A Million Washington State Residents Receive One Dollar Foodstamp | THE GUN TOTING LIBERAL™
  7. Obama wants to take from the rich and give it to….the government. « Riggword Weblog
  8. The Citi Sleeps … with the Fishes | BobMaistros.com
  9. My B.O. Dump. Constipated No More! « OutOfTheBlu
  10. Observations Of The Day On America’s Financial Collapse: « Tai-Chi Policy
  11. Michelle Malkin » And the perfect metaphor for the Obama stock … | Stock Capitalist
  12. Michelle Malkin » Another Obama-capulco Cliff Dive
  13. And the perfect metaphor for the Obama stock market plunge « Top Daily Digest Reading

Trackback URL

Comments


  1. #631249
    On February 24th, 2009 at 5:58 am, WaterBoyz said:

    #90 said

    …O’really claims he saw the birth certificate, B$! only if he was having a bad dream.

    Yea, the one that was posted early last year which is not a true BC.

    Are we the only 3 that think that there is a cover-up of the BC?

    On a similar note, some years ago the local chicken processing plant was raided by the INS. The HR department produced copies of the green card for those “suspected” of being illegal. The INS said that those cards were all fake. The HR people said that they were required to accept, by law, the green cards and it was not their responsibility to determine if they were fake cards. The issue was dropped.

    Same with the Dems and the BC.

  2. #631277
    On February 24th, 2009 at 8:01 am, rplatt said:

    Obama has no solutions . . . he is absolutely inept and incompetent and he can expect no help from that gaggle of tax cheats and lunatics he has in the White House. Nevertheless, the congressional leftists will applaud him like good little “rats” as the Pied Piper leads them ever closer to the edge of the cliff. There is absolutely no capable leadership for the country and conditions have gone well beyond frightening.

  3. #631345
    On February 24th, 2009 at 9:42 am, MarkD said:

    Figure it out yourselves, the market is dropping 1000 points a month since the savior took over. I’d better liquidate my 401K and buy Christmas presents before it hits zero.

    So far, Obama’s talking and the money is walking. It’s too early for this to show in the polls yet – most people still have jobs. Lets see what people think when they see next year’s school and property tax bills, where you get asked to make up for your unemployed neighbor’s share.

    Already the unions in NY are crying about the tax cuts affecting the poor. Hey, you voted to kill jobs in the private sector, not me. I’m one paycheck away from poor myself. When I go away, the taxes I pay are gone. I guess they didn’t figure that out yet.

  4. #631349
    On February 24th, 2009 at 9:45 am, frostrt said:

    The biggest thing I see here is the incredible pessimism,” Springer said. “The government is doing a lousy job of alleviating fears.”
    —————————————

    Former President Clinton was absolutely right; President Obama needs to take the gloom and doom down a notch, or more than a notch. The “hope” seems to have disappeared from “hope and change”. Besides, it’s part of the reason he can’t seem to give a speech re: the economy without sending the Dow into a nosedive (it’s on its way back up this morning; we’ll see what happens later on today and tomorrow morning after his speech).

  5. #631356
    On February 24th, 2009 at 9:50 am, wighttrasch said:

    I’m praying that lgm is not sexually active, and that if he is, that he’s not…um, potent.

  6. #631360
    On February 24th, 2009 at 9:52 am, frostrt said:

    On February 24th, 2009 at 9:50 am, wighttrasch said:
    I’m praying that lgm is not sexually active, and that if he is, that he’s not…um, potent.

    —————————————

    Perhaps he’s one of those people who believe that humans need to stop reproducing to, like, you know, save the planet, man!

    Sarc/

  7. #631364
    On February 24th, 2009 at 9:59 am, ITookTheRedPill said:

    rightisright and WaterBoyz,

    O’really claims he saw the birth certificate, B$! only if he was having a bad dream.

    He may have seen the “Certification of Live Birth” produced by the Obama campaign, a document which is no less a forgery than the “Certification of Live Birth” for “Haye I.B Ahphorgerie” (”Hey! I Be A Forgery!”, and shares birth minute and other features with the Obama document).

    O’Reilly has not seen the Original Birth Certificate.

    We’ve never been shown the officially certified document directly by the Hawaiian officials.

    Hawaiian officials never said the Certification of Live Birth produced at the Obama offices in Chicago was authentic.

    Hawaiian officials never said Obama was born in Hawaii.

    The Associated Press lied and claimed that the Hawaiian officials did say that Obama was born in Hawaii.

    The Annenberg Political Fact Check lied and claimed they had examined Obama’s “original birth certificate”. (What they inspected was the fraudulent Certification, not the original Certificate)

    Congress inspected one certificate from the State of Hawaii (the Certification of the Electoral College vote), but didn’t inspect the other certificate from the State of Hawaii (the original birth certificate for Obama).

    No hospital in Hawaii has any record of Stanley Ann Dunham Obama being a patient there at the time of Obama’s birth.

    Kenyans know he was born in Kenya, and the Official Report of the Kenyan National Assembly Wednesday, 5th November, 2008 said

    the son of this soil, Barrack Hussein Obama, has been elected the 44th President of the United States of America…

  8. #631419
    On February 24th, 2009 at 10:50 am, ITookTheRedPill said:

    On February 21st, 2009 at 2:56 pm, happyscrapper said:

    RedPill…what does the newspaper article say about the hospital he was born in?

    No.

    Did it say anything specific?

    Mr. and Mrs. Barack H. Obama,
    6085 Kalanianaole Hwy., son, Aug. 4.

    But as other commenters have noted previously, the Dunham grandparents could have submitted this info to the paper.

    A newspaper announcement does not a birth certificate make.

    Let’s see something official, directly from the state of Hawaii, showing the birth hospital.

  9. #631458
    On February 24th, 2009 at 11:14 am, nail49 said:

    Some famous last quotes…

    “Hey, watch this!” as drunk dives from 6th floor balcony in attempt to land in hotel pool — any guesses where he DOESN’T land!.

    “For my next trick, I will set myself on fire!”

    “The fuze must be wet, I’ll go check it.”

    “Ever notice how these grenade pins can slip out so easily?”

    The market is falling because the stimulus and bailout packages are too small, not because they are too big.

    Yeah, lgm, just watch as the country slips deeper into debt, which, as The One reminds us, he inherited. But, wait, PBO reminds us, “I inherited this debt.” Problem is, his way to get out of debt is to dig a deeper hole.

    Re. the wet fuzes — I am making certain my powder is dry!

You must be logged in to post a comment.

The Stimulus Jobs Inflation Map

November 16, 2009 07:15 PM by Michelle Malkin

31 Comments | 2 Trackbacks

The Stimulus Jobs Inflation Index

October 30, 2009 10:50 AM by Michelle Malkin

67 Comments | 6 Trackbacks

Stimulus efficiency success story of the day

October 28, 2009 11:32 AM by Michelle Malkin

22 Comments | 3 Trackbacks

SEIU leads new banking shakedown campaign

October 25, 2009 11:25 PM by Michelle Malkin

35 Comments | 6 Trackbacks

Punchline of the day

October 19, 2009 10:33 PM by Michelle Malkin

45 Comments | 0 Trackbacks

Wealth redistribution watch: Cash for carts

October 19, 2009 02:22 PM by Michelle Malkin

28 Comments | 2 Trackbacks


Categories: Subprime crisis, fiscal stimulus



Pundit & Pundette

» Various and sundry

Weekly Standard

» Dowd on Palin

TigerHawk

» Negative equity
Follow me on Twitter Follow me on Facebook