"don't ask me,I'm still working on that internet number thingy"
Posted on 08/08/2011 7:47:42 PM PDT by advance_copy
The historic downgrade of the United States engendered by political gridlock in Washington caused one of the worst days ever on Wall Street Monday, with the Dow Jones industrial average plummeting more than 600 points in its sixth-biggest drop.
Standard & Poor’s cut in the once-untouchable U.S. credit rating to AA+ from AAA late Friday night shook global markets and added to worries that the world’s largest economy is sinking inexorably toward a double-dip recession.
In a panicky day of tumultuous trading on Wall Street, even a pledge by President Obama to double down on efforts this fall to come up with a major debt reduction plan that would satisfy ratings agencies did nothing to console markets.
“Markets will rise and fall,” the president said at an impromptu White House appearance in midafternoon. “But this is the United States of America. No matter what some agency may say, we’ve always been and always will be a AAA country.” But the Dow, which was down about 400 points when Mr. Obama appeared, only deteriorated further and lost another 200 points.
(Excerpt) Read more at washingtontimes.com ...
This is not 2008. There is Obama, not Bush in the White House. There's no money, no bail to bail out with.
A negative credit rating should not have been able to do this. But, with second rate rats running the executive branch right now, what's left of the economy cannot survive.
This taking down the whole world. This is Moscow 1990, worldwide.
He could shut the Hell up. That might help.
(Pssst. He doesn’t want to. He wants it to slide to the point that everyone demand he spend up to the new debt ceiling.)
This is absolute drivel. Bailout is not the solution and Bush was no hero for bailing out Wall Street. That was theft of our hard earned money. The line used against Obama that he has accumulated more debt than all previous presidents put together was valid for Bush as well. Nothing to be proud of. Bush's friend Karl Rove is an anti-Tea Party RINO.
"don't ask me,I'm still working on that internet number thingy"
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Spot on P-Marlowe.
Obama Blames Politics (TP) for S&P CutWith the additional $238 billion the Treasury immediately borrowed when the debt ceiling was raised on August 2, total current debt now exceeds the US GDP for 2010! (GDP in 2010 was $14.5265 trillion.)
I say: |
No need to fear a double dip recession. We never left the first one.
The S&P was down 6.66% today on the day he decided to make a speech about it.
He is governed by Satan and George Soros...
Biden would then be president. I don't think the markets would react favorably.
There was no money to bail out with in 2008 either. Uncle Ben simply created all those non-existent trillions with a few strokes of his keyboard. And it continued...QEI, QEII, and now, God help us, he's talking about QEIII. If Americans only knew just how much purchasing power their dollars have lost through all this debasement, there would be riots to make London look like a picnic.
Dow Futures off 300 already tonight.
Will we see QE3? We’ll know tomorrow, but I’m thinking not or else the Futures would not be so far down. People in the know would be shoving money in.
You can bet the telephone lines from the White House to the Fed are burning hot tonight.
Please, no Barackolypse presser tomorrow!
The only thing that Obama could do to help would be to resign — but only if he took Biden out with him.
When it comes to the economy he has the Midas touch in reverse. Everything he touches turns to fecal matter.
Better yet he could resign and take Geitner, Bernanke and every Congress person that has been there for more than 4 years with him.
Look at the picture of the lunatic who would take over in post #5...
Americans should have been very afraid of this regime back in 2008 when Joe the Plumber was told that the goal was to redistribute the wealth.....
You know what’s amazing and getting no play in the Obama owned media....
The Republican House passed the bipartisan Cut/Cap/Balance plan, that plan would have met the requirments of the S&P and there would not have been a downgrade. Democrats in the Senate refused to even bring the measure up for a vote. So who are the economic terrorists? The hostage takers that will not even consider a measure that the house but forth? The Democrats played politics with this from day one, they had no plan, no plan, no plan and when presented with a plan they refused to take responsibility. The downgrade falls squarely on in the laps of the RATS.
He doesn’t want to stop the slide....it’s part of his agenda.
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