Skip to comments.Markets tumble as Obama vows to reach across divide
Posted on 11/07/2012 12:29:06 PM PST by Tailgunner Joe
The glow from Barack Obama's re-election as US president was fading already this afternoon as markets tumbled just hours after he declared victory.
The fall in market fortunes came as analysts looked ahead to the so-called US fiscal cliff, and new figures raised fresh concerns over the health of the European economy.
Mr Obama celebrated his win by immediately promising to reach across Americas bitter political divide, as confrontation loomed with Republicans over reducing the countrys deficit.
Striking a conciliatory tone in his acceptance speech in the early hours of Wednesday before thousands of cheering supporters in Chicago, he said Americans had voted for action, not politics as usual".
"I have always believed that hope is that stubborn thing inside us that insists, despite all the evidence to the contrary, that something better awaits us so long as we have the courage to keep reaching, to keep working, to keep fighting," he said.
Despite a stiff challenge by Republican Mitt Romney, who campaigned in swing states even on polling day, the president secured a comfortable win of 303 to 206 Electoral College votes, with only the state of Florida still to be declared.
But Mr Obama's majority in the popular vote was just 1 per cent, and in their other choices on Tuesdays ballot, Americans preserved the divided government that has made major legislation so difficult to pass for the past two years.
Initially, the markets bounced on Mr Obama's win, but by this afternoon the gains had been reversed. The Dow Jones Industrial Average tumbled 1.8pc and the S&P 500 dropped 1.6pc this afternoon. The FTSE 100 is down 1.3 pc, while French, Spanish, Italian and German have all fallen.
(Excerpt) Read more at telegraph.co.uk ...
“reach across the aisle”? Sounds familiar. We’ve heard that promise 4 years ago and saw the opposite. All BS.
exactly, he will do no such thing....all talk.....he has nothing to lose, and it will be wonderful to watch him continue to attempt to drag this country down, and we wont let him....who will he blame now?
“Initially, the markets bounced on Mr Obama’s win, but by this afternoon the gains had been reversed.”
BS, it began dropping before 10 and by 11 it was down approaching 300 points. The rest of the article is equally BS. This guy is not going to reach across any aisle except to strangle anyone who denies his plans.
Bonehead is talking live now. Another BSer.
Reach across the aisle ... with a beheading ax.
Mr. President, it is natural to man to indulge in the illusions of hope. We are apt to shut our eyes against a painful truth, and listen to the song of that siren till she transforms us into beasts. Is this the part of wise men, engaged in a great and arduous struggle for liberty? Are we disposed to be of the number of those who, having eyes, see not, and, having ears, hear not, the things which so nearly concern their temporal salvation? For my part, whatever anguish of spirit it may cost, I am willing to know the whole truth; to know the worst, and to provide for it. — Patrick Henry, St. John’s Church, Richmond, VA, March 23, 1775
Let it burn. There’s no one to blame but the American electorate. People won’t learn until it all collapses. Let’s get on with it.
I could have gone for the short sell but I think it’s unpatriotic to capitalize on Obama’s re-election like that.
He has to reach across the aisle to reach your wallet.
” reach across the aisle “
Is that the same as the “reach around” mentioned by GYSGT Hartman ?
It isn’t only the Fiscal cliff we are facing.
Obamacare starts kicking in and small business will be fined or charged horrendous amounts for Health insurance.
Small business may as well hang it up.
Then we have the debt and the fall of the dollar today on Foreign markets.
The Europeans might be happy with Obama ,but they are dumping on our dollar.
Reaching across, eh? No thanks. When ‘Rats reach across to us, it is for one thing, our money. Other than that, they don’t give a crap about us. When we try to reach across to them, we draw back a stump. I’ve been made a fool of too many times by the ‘Rats playing that game. I’m done with it. They and everyone who voted for BO can go to hell.
Of course obama is lying about “compromise’ he has no intention of helping anyone except himself. Harry Reid has outright said he is going after the R’s and will adopt rules to stop any obstruction by congress. If Obama does steal the rest by Executive order, Reid will just change the rules and bypass Congress.
Let them destroy us now so we can attempt to rebrand and rebuild. It is our fault(collectively) anyway. Obama had 9.35million less votes than in 2008. That is 13.4%. Romney had 2.5 million less than Mccain in 2008 or loss of 4.2%. So where did 11.85 million votes go??? Maybe the cheating was so significant in 2008 they could do as much this time. Obama didn’t need to cheat in 2008. Everyone was so excited to vote for the black guy to prove they weren’t racist.
And, you know he knows a BSer when he sees one/s
Yep. I’ll belive that one when I see it. He is too thin skinned, egotistical and irrational to be able to reach across anything much less the asile.
The real BS is in another lying media narrative that says the sell-off is because of the “fiscal cliff.” The real reason for the sell off is that business thought Romney would win but now they are crapping their pants at the thought of 4 more years of 0bamunism.
“I have always believed that hope is that stubborn thing inside us that insists, despite all the evidence to the contrary, that something better awaits us so long as we have the courage to keep reaching, to keep working, to keep fighting,” he said.
GO F YOURSELF!!!
I pray that everyone here understands what is ahead and has prepared accordinly. The ‘Progressives’ mean to bring this once great nation on par with the EU.
Reach across the isle...
Like he did on health care when he passed it in the dead of night on like a friday with no rebpublican support.
When I look at the electoral maps I still can’t believe he won. Hell the entire country is red except along the coasts
GOP - PLEASE reach across the isle. Reach with a right hook followed by a left upper cut.
Karl Denninger says “watch for market dislocations.”
NO COMPROMISE. NOT NOW! NOT EVER!!!
NO COMPROMISE. NOT NOW! NOT EVER!!!
I propose new voting laws.
If you are on welfare you can’t vote
If you are in prison you can’t vote
If you weren’t born in this country you can’t vote
If you are on unemployment for like 9 years you can’t vote
Too me there is no incentive to vote republican if you’re on the government dime. Get your job back...get off welfare then you can vote.
Yes I know i’m harsh right now....but right now this second this is how I feel. I almost feel like you should have to pass a basic politics test before you can vote. I bet half of the Obama supporters couldn’t name 10 people in government
I’m with this. If you ran in my district on this platform, I’d be with you 100%
The problem when it comes to national elections is that the republican establishment always nominates the guys they think are the most likeable. The reason they do that is because they know how hard the media will be on him/her. That means the electorate is left with the choice of 1A or 1B.
If your gonna vote socialist pig...might as well do it with the best socialist pig...ie obama.
We need a clear choice between them nationally. I felt that our guys once again played too nice meanwhile the bully just said “ thanks for your consideration”while he buried our heads in the sand.