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Wall Street briefly cuts losses on Obama briefing
Reuters ^ | 11/14/12

Posted on 11/14/2012 11:30:07 AM PST by Jean S

NEW YORK (Reuters) - Stocks briefly trimmed losses on Wednesday as President Barack Obama pushed for his proposal to have the wealthy pay more in taxes as a way to tame the federal deficit.

Taking a hard line in his opening bid before he begins fiscal talks with U.S. lawmakers later in the week, the president also said he was encouraged that some Republicans have agreed to raising new revenues.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS:
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1 posted on 11/14/2012 11:30:12 AM PST by Jean S
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To: Jean S

Raising taxes will not tame the deficit. Even if it did bring in a piddling bit more in “revenue,” Obama and the socialist democrats would not only continue spending, but they’ll bump it up to new records. We’re already spending over 100% of GDP every year. Confiscate ALL of the wealth and the socialist government would still spend us over the cliff!!


2 posted on 11/14/2012 11:35:41 AM PST by Jim Robinson (Resistance to tyrants is obedience to God!!)
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To: Jean S

Nonsense. Stocks increased losses after his speech.


3 posted on 11/14/2012 11:36:54 AM PST by what's up
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To: Jim Robinson
Confiscate ALL of the wealth and the socialist government would still spend us over the cliff!!

Bingo!

Welcome to Cloward-Piven hell.

4 posted on 11/14/2012 11:37:20 AM PST by TChris ("Hello", the politician lied.)
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To: Jean S

Pravda would be proud.


5 posted on 11/14/2012 11:37:46 AM PST by ilgipper (Obama supporters are comprised of the uninformed & the ill-informed)
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To: Jean S

13,245.68 11/06/12
12,656.12 now

Some rally...

The market is near lows for the day too.


6 posted on 11/14/2012 11:38:50 AM PST by DoughtyOne (Hurricane Sandy..., a week later and 48 million Americans still didn't have power.)
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To: Jean S

That would be news to the markets I’m watching.


7 posted on 11/14/2012 11:39:35 AM PST by ReleaseTheHounds ("The problem with Socialism is that eventually you run out of other people's money." M. Thatcher)
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To: Jean S

13,245.68 11/06/12
12,643.88 now

That’s down 601.80 in a week.

Some rally...

The market is near lows for the day too.


8 posted on 11/14/2012 11:40:35 AM PST by DoughtyOne (Hurricane Sandy..., a week later and 48 million Americans still didn't have power.)
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To: Jean S

Wow...The Dow was green before he started talking. Now it is down over 100 points. Are the American people really that stupid that they can’t see the mainstream media lying so blatantly.


9 posted on 11/14/2012 11:41:18 AM PST by Revel
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To: ReleaseTheHounds

Exactly!

We’ve got a liar for a president.

We have a press made up of liars.


10 posted on 11/14/2012 11:41:37 AM PST by DoughtyOne (Hurricane Sandy..., a week later and 48 million Americans still didn't have power.)
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To: what's up
Stocks increased losses after his speech.

Exactly right.

S&P 500 11/14/2012


                     2pm

11 posted on 11/14/2012 11:42:49 AM PST by Servant of the Cross (the Truth will set you free)
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To: DoughtyOne; All

12,641.76
-114.42


12 posted on 11/14/2012 11:45:51 AM PST by stephenjohnbanker ((God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.))
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To: Servant of the Cross

Reuters blatantly lying as usual.


13 posted on 11/14/2012 11:49:04 AM PST by what's up
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To: Jean S

Well for those of us who missed the opportunity to be laid off in the fall of ‘08, we’ll be getting another chance soon. Just like FDR, unemployment should begin going back up again with the next term of the new savior.


14 posted on 11/14/2012 11:52:46 AM PST by throwback (The object of opening the mind, is as of opening the mouth, is to shut it again on something solid.)
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To: Revel

Dow’s been down all day except for the first hour.

The market was waiting for the Fed Minutes, not the speech.


15 posted on 11/14/2012 11:56:26 AM PST by steve86 (Acerbic by Nature, not NurtureĀ™)
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To: what's up

They did say ‘briefly’. LOL


16 posted on 11/14/2012 12:00:10 PM PST by skeeter
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To: DoughtyOne

-126


17 posted on 11/14/2012 12:09:29 PM PST by stephenjohnbanker ((God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.))
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To: skeeter
Losses were cut briefly in advance of the speech in hopes that he would be conciliatory.

When the market found out it was all going to be typical Obama junk it dove.

18 posted on 11/14/2012 12:13:59 PM PST by what's up
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To: stephenjohnbanker

Hello,

-152

Mogirl


19 posted on 11/14/2012 12:15:23 PM PST by MOgirl (STAND)
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To: Jean S

The only explanation -

Economics is racist...


20 posted on 11/14/2012 12:16:57 PM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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