Wall Street welcomes Obama with a 486 point drop.
People that voted for Obama actually thought he would be better for the economy then McCain? I guess these people never stopped to consider that the economy and the stock market are linked. It was when the stock market started it's huge declines thanks to the housing/financial crisis started by the socialist stupidity of Democrats. In a way it's good that Democrats have control of congress and the White House. They were the genesis of this mess, and who better to deal with their mess then the very people that created it. It was bad enough that Bush had to fix the economy after Bill Clinton's dot com bubble economy went bust right after he left office. Anyways, the day after Obama gave his speech to the sheepletude, the Dow Jones Industrial Average plunged 486 points. The reason for the sharp sell off is because Obama won the election. When George Bush won in 2000 and 2004, the markets enjoyed sharp RALLIES afterwards. This goes back to what I've been saying repeatedly. Free market economies don't like socialist and liberal rules, excessive regulations and more importantly burdensome taxes. The stock markets not just in the United States but in the world fear an Obama administration and rightfully so. If Obama does go through and let the Bush tax cuts expire as well as hike the taxes on dividends and capital gains from investments, he will single handily guarantee a stock bear market and a massive rise in the unemployment rate. Oh well, it's all about "change" is it not? A 486 point drop is impressive for only being President elect for not even 24 hours yet, I meant impressive in a bad way of course.
posted by Alpha Conservative Male at 11:31 PM
11 Comments:
DJIA dropped over 400 again today.
Hey, I just came across your blog. Excellent. Thanks for spreading the truth instead of the wealth!
I am fearing what our economy will look like after Obama is through with it in four years... the media will prolly still blame it on Bush
The media is going to blame the stock market crash on earnings reports for as long as they can get away with it. On the bright side, firearms sales are up.
From now one, I will refer to the stock markets declines as "BOMDI" which stands for the "Barack Obama Market Decline Index"
pamela " DJIA dropped over 400 again today".
Yup pamela, the stock market has declined over 946 points since he was declared the winner. I don't know if the poor fools were crying because of Obama's win or were they crying knowing their stock portfolios were going to start to sink faster then the Titanic. I wonder is this the "change we can believe in"? If it is, it's not working out very well, and hussein hasn't even been sworn in yet. This is going to be fun.lol
ano nHey, I just came across your blog. Excellent. Thanks for spreading the truth instead of the wealth!"
Thank you.Just remember that truth is the wealth of the free thinkers, No wonder Obama cultist are so poor.
stefan ming "I am fearing what our economy will look like after Obama is through with it in four years... the media will prolly still blame it on Bush"
Stefan, they can try to blame Bush all they want, but it won't work. In 2010, Democrats will have controlled congress for four years and Obama will have been in office for two years. There is going to be a cut off point in the American people's mind that says that they no longer blame Bush and they will want to see results from Obaam, which will never come. Democrats can only milk the "bush cow" for so long, and on Jan 20th the clock officially starts ticking. So hang tight stefan, the pressure is clearly on the Democrats not us.
roadhouse "The media is going to blame the stock market crash on earnings reports for as long as they can get away with it. On the bright side, firearms sales are up."
I don't think so roadhouse. The American people don't follow the stock market like regular investors do. Most people just know to open up their 401k every quarter. If regular people understood the markets, they would have know that Democrats created the mess to cause the stock market to decline like it has over the last few months. I'm banking on the fact that Obama and his Marxist hords don't have a clue how to fix the mess his party created. The deeper Obama gets into his term, the more the focus of outrage is going to shift to Obama. I expected gun sales to be up in advance of Obama taking office roadhouse. His devoted followers swear up and down that Obama is so smart, yet the so called educated fool doesn't understand the 2nd amendment which is very easy to understand. If he starts to infringe on the rights of citizens to own firearms, he will have a severe fight on his hands.
Have fun with this. This shows how much you care about America.
Ever since I heard Obama was president elect, I've been having a hard time sleeping.
Last night, I literally had nightmares about living in a marxist country, and they were pleasant.
Heck, with the bank buyout, the government now has a controlling interest in one of our most important industries.
Wait until Obama gets his hand on it.
I just want to cry when I think about it. I just found out I was pregnant not too long before the elections and all I could think about after is "what kind of life is this child going to have?"
This world is getting scarier and scarier by the day.
Come on dark, you should know better that trying to paint me as the villain isn't a good strategy on your part. Let me explain something to you. I cared about America while most blacks hated it. Since Obama won, NOW ALL OF A SUDDEN THEY LOVE AMERICA. Sorry dark, I'm not a johnny come lately patriotic American. I love my country because of what this country represents. Blacks that claim to love America NOW are doing so just because a black man was elected.So who's the one who cares about this country for the right reasons darkstar?hmmm
anon "Ever since I heard Obama was president elect, I've been having a hard time sleeping.Last night, I literally had nightmares about living in a marxist country, and they were pleasant.Heck, with the bank buyout, the government now has a controlling interest in one of our most important industries.Wait until Obama gets his hand on it.I just want to cry when I think about it. I just found out I was pregnant not too long before the elections and all I could think about after is "what kind of life is this child going to have?"This world is getting scarier and scarier by the day."
I understand perfectly what your saying. If Obama governs like I believe he will, I don't believe we will have to worry about an Obama administration for very long. Actually him winning is perfect to get the conservative movement back on track within the Republican Party. 57 million of us voted against Obama, and those voices will not be silenced. Those voice will be responsible for conservatives regaining congress to keep Obama in check, then those voices will rise up again to remove him in 2012. So don't worry, We had to go through Carter to enjoy Reagan, and this is no different.
Anon says;"Last night, I literally had nightmares about living in a marxist country,
This world is getting scarier and scarier by the day."
I haven't heard this much fear since the start of the Cold War. Fear has become a brand name commodity among those who disagree with the outcome of this election.
Fear breeds anxiety, anxiousness, and can fuel hate for that which is feared. Just look at how Arabs and Muslims have been vilified since 911.
Now we have a faction of "U.S. citizens" who now accuse the "President-Elect" (aka "the Government") of being all those things that was once (during the Cold War) shunned and castigated by a faction of THE GOVERNMENT!
If one knows the history, you will remember that at a certain time in American history, a faction of the "government" held public hearings. Americans were black-listed, spied upon, arrested, and a loss their lively hoods. Secret wars were fought to so-called "thwart" the spread of idea's. Military campaigns were carried out to prevent other countries from taking certain course's that were not in the interest of those in government.
Mistrust is whats occurring here. Clear MISTRUST! No evidence has been found to assume that Obama is no more than what he says he is.
This, in my opinion, is the legacy that Bush leaves after 911. A war in Iraq perpetrated on LIES and DECEIT. That LIE is now transforming itself into fear of a newly elected president that disagrees with Bush began.
You were told that Saddam Hussein was "out to get you" and you believed it. Even though he never fired a shot at America, you believed Bush and his LIES about his intent concerning your home, your family, your life!
You were sacred...But now that Saddam is dead, your fears have no where else to manifest itself.
You've masked your political views in your religion. You've pushed hard to put in place someone that could calm you fears by joining you in your religious beliefs. But, it did not work out that way. You candidate lost his way, lost his bid, and you've lost all hope.
Thus, your fears are now "TOWARD YOUR OWN PRESIDENT"! You now feel that "he" is the enemy. He is not to be trusted. You will refuse all efforts to make it easy for him to make any changes that could effect your life. No matter what, you will not conform!
The question now is, how far are you willing to go to make yourself feel safe again. What are you willing to do to "turn back" the hands of time. You feel as though you must do something before you and your loved ones are overcome by the evils of MARXIST COMMUNIST MUSLIM TERRORIST!
Oh..did I forget to mention that he's.... Black?
You can rest assure that Karl Marx, Vladimir Lenin, Saddam Hussein and Benito Mussolini are all "laughing in their graves"!! (Stupid Americans...)
C'mon buddy:
Ronald Reagan: Tax cuts, trickle down economics, de-regulation, etc. Free-trade.
Alan Greenspan: Low interest rates, underneath inflation; fed credit bubble.
Dik Cheney: "Reagan proved that 'deficits don't matter.'"
Paulson / Bernanke: Too late to act and engage this fiscal debacle.
Even Bill Clinton fell in line with the G.O.P Kool-Aid, with his free market / free trade pact.
I would say that the entire world shifted to the Right from Jimmy Carter through the Bush dynasty. Even Clinton, was a dem cloaked in G.O.P rhetoric. How can this meltdown be blamed on the Left?
Please explain.
The stock market is falling due to the uncertainty of the transition. Investors don't like uncertainty. The Treasury Secretary appointment is key.
Certainly, your man Paulson will be dismissed. Volcker, Fed Chair under Reagan has emerged to talk tough.
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