Did Obama's $200 Billion Tax Cut Just Light A Fuse Under The Market?

The Business Insider ^ | 9-6-2010 | Joe Weisenthal

[blam]

Obama's $200 Billion Tax Cut Just Light A Fuse Under The Market?

Joe Weisenthal
Sept. 6, 2010, 9:22 PM

Futures have shot straight higher in the last hour. It seems possible that markets are reacting to the Obama's new $200 billion business bailout.

[snip]

[Kansas58]

BS
Obama has little or nothing to do with this.
His proposal is NOT “pro business” it is pro nanny state!

[blam]

Nikkei Dips On Profit-Taking After 4 Day Rally

[Irish Eyes]

Interesting to see what happens tomorrow.

[bareford101]

right... BS

[Marty62]

All of this based on a lying Pres and a Congress that will not go along.

The market is nuts.

[FrankR]

It just came back up to where it was after a big dip, that's all.

Nobody believes a word obama says...

[dartuser]

Not sure where you are tracking futures but Bloomberg has the Dow up 17 points at 22:18.

[muawiyah]

The big three asian markets are dropping like rocks. The European markets dropped late in the afternoon.

Obama's "offer" really doesn't amount to anything ~ unless you are a company with serious layoffs in the past, capacity just sitting around and you want to buy more capacity.

Now who has that "problem".

Markets detect irrelevancy of any idea quickly and discount weeks ahead of the events. Obama just broke the record ~ he proposed something this afternoon and it was discounted this evening.

[PGalt]

The taqiyya-talkin’ collectivist is a con-man.

[Mr. K]

Um.. sure.. at 9PM on a HOLIDAY obammy saved the planet..

nice

[loveliberty2]

Is it not just as likely that any fuse being lit is based on the prospect of the tsunami voting power that will oust Congressional and Senate leadership in less than two months?

Anybody trusting this Administration's word on any pro-business, pro-free enterprise tax or spending cuts is just as gullible and naive as were the KoolAid drinkers who voted for him in 2008.

Does the leopard change his spot? Surely, American citizens, after all that has transpired in the past 18 months are not that ignorant of political fact.

[Pikachu_Dad]

It took him 2 years to come up with this ?!?

[clintonh8r]

The market reacts to everything these days, no matter how insignificant. It goes up on bad news and down on good news. Or not. That’s just one of the reasons I’m 100% on the sidelines.

[spyone]

Question: did the home buyers credit send the housing mkt rocketing upwards?
Answer: No. It pulled demand forward. The credit is now over and volumes are collapsing.

They are very desperate right now. There is an election coming. The public has seen through the happy talk of a recovery.

Beware of a two week Sept. rally. This happens frequently, only to have the last week of Sept. and first 10 days of October turn in a severe downdraft.

It is unlikely this will become law in the near term. S&P futures are only up 1.9 points right now.

Don’t get sucked into buying stocks at this juncture.

[gov_bean_ counter]

Obama's "offer" really doesn't amount to anything ~ unless you are a company with serious layoffs in the past, capacity just sitting around and you want to buy more capacity.

Exactly. Another one of Obie's "Tits on a Boar" proposals.

[pgkdan]

What did I miss?? Obama 2 billion dollar tax cut???

[blam]

"Obama's "offer" really doesn't amount to anything ~ unless you are a company with serious layoffs in the past, capacity just sitting around and you want to buy more capacity."

I just returned from dinner with the owner of the biggest landscaping company in the area. He has absolutely ZERO work and no requests for bids, etc...he cursed Obama the whole time we were out this evening.

[irishtenor]

No. Only 100 shopping days til Christmas. That’s what.

[familyop]

Obama’s delivery style in his speech earlier today was similar to a speech given by the character, “Deacon,” in the silly movie, “Waterworld.”