"The dreadful policy proposals will continue until the market rallies."
Posted on 03/06/2009 10:24:06 AM PST by IrishMike
The numbers paint a grisly picture: The market’s drop post-stimulus now is bigger than it was post 9-11. Food for thought, reasonable people would think...…
Considering that the “stimulus” as envisioned by Washington was to serve as a confidence booster, the one valid gauge of success that we have indicates that it is anything but:
The Dow Jones Industrial Average closed at 7,933 on Feb. 12, the day before Congress passed the bill. As I write, it is at 6,612, a decline of more than 16% in a tad more than two weeks.
I took the liberty to compare these numbers to the last time the market went into a similar tailspin. On September 7, 2001, the Dow Jones closed at 9,605. By September 21, at the bottom of the post-9/11 drop, it closed at 8,235.
A loss of 14.26% in two weeks.
Let me say it how it is: The effect of the stimulus bill on investor confidence has been worse than the terrorist attacks of 2001!
But that’s not the half of it. Because by September 21, 2001, we had plumbed the depths of the market’s drop.
With Congress only beginning the tax-and-spending free-for-all… there is plenty of room for it to get worse!
With anti-business, anti-investor types defining the political climate in Washington, you may argue that any equity investing these days is automatically contrarian investing. Worse, that buying stocks is an irrational gamble that reason will prevail and the political superstitions of the 19th and 20th centuries will be fumigated for good.
But as Washington is buffing the tarnished bronze calf of socialism back to life, there are some opportunities left to those of us who still believe in the free market. It just takes more to get at them
"The dreadful policy proposals will continue until the market rallies."
nice title!!!
6,515.11
Change: -79.33
1:25pm 03/06/2009
This was an interesting observation. Another interesting point is how Bush talked up the markets to help us recover, and how Obama talks down the markets to help us recover.
I think Bush’s tactic was more on target.
“Let me say it how it is: The effect of the stimulus bill on investor confidence has been worse than the terrorist attacks of 2001! “
I don’t even want to imagine what would happen to the market once the terrorists are emboldened by Eric Holder or an Iranian nuke.
Now that Obama fixed the economy he can move on to health care.
Under Zero, in actual dollars,
we have witnessed unprecedented wealth destruction.
And there’s more on the way !
Dow now scraping at the very bottom of the 6500 floor. 6511 @ 1:35 EST
0-pression
Once again: The 9/11 hijackers attacked the US military, US economy, and US civilian government.
Barry Hussein has attacked the US military, US economy, and US civilian government.
Infiltration from within has succeeded in damaging these United States far more effectively than external terrorist attacks.
I wonder if the military is on our .....*stops...remembers Jim Robinsons post*
6505 @ 1:40
CORRECTION: Obama is a FOLLOW ON to the 9/11 attack..
Obama is clearly the enemy of everything that made America possible!
Obama and the DNC are the “enemy within” - and folks really need to acknowledge that reality...
Remember - Barry Hussein and Osama bin both have friends who bombed the Pentagon.
Hey a rally! 6520 LOL
With the Market on the Slide, Are We Stuck On Obama’s Wild Ride?
Political Lore.com | March 6th, 2009 | Dominic Tartaglia
Posted on 03/06/2009 9:58:48 AM PST by DecoyJames
http://www.freerepublic.com/focus/f-news/2200802/posts
WSJ article says “Obama’s Radicalism Is Killing the Dow”
IHateTheMedia.com | 03./03/09
Posted on 03/06/2009 9:09:17 AM PST by slomark
http://www.freerepublic.com/focus/f-bloggers/2200766/posts
Barack Obama and the Strategy of Manufactured Crisis (important enough to repost)
American Thinker | September 28, 2008 | James Simpson
Posted on 03/06/2009 9:05:32 AM PST by Stayfree
http://www.freerepublic.com/focus/f-news/2200764/posts
LOL!
B.O. wash hyping his so-called jobs for police today. It is nothing more than renewing the one-year Clinton COPS grants that put a burden on local departments to take over paying for the cops after one -year. The last time this was done under Clinton police departments had to fire hundreds of cops that it could no longer afford.
The money is part of $2 billion in Recovery Act 2009 funding that is being allocated through the Edward Byrne Justice Assistance Grant (JAG) Program.
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