Skip to comments.Dow, Fearing Obama's Socialist Policies, Dives Another 445 Points
Posted on 11/20/2008 2:25:59 PM PST by Bill Dupray
The Dow has dropped from 9625 to 7552, a total of 22%, since Barack Obama was elected 16 days ago.
The (soon to be bankrupt) New York Times never acknowledges that Socialist policies are anti-capitalist and cause great damage to economies where they are implemented. So we will point it out just to be sure everyone is aware that Obama's election has direct and dire consequences. The Dow lost another 5% today after finishing yesterday at the lowest level since 2003.
More . . .
(Excerpt) Read more at patriotroom.com ...
from ‘spreading the wealth’ to ‘destroying the wealth’ in a few short weeks. Same end game, I guess.
Excellent — keep up the good work. Yes, the public is TERRIFIED of the Marxist policies coming out way. Nobody of any consequence, especially financial consequence, has been fooled. IMHO, that is why the market is tanking and Marxists will DO NOTHING to restore a healthy CAPITALIST system.
Kick his ineligible butt to the curb.
This brings up an interesting question to me..
its pretty obvious that the stock market responds SOOO MUCH to simple consumer confidence, but we also know that in a very real sense, the stock market represents real capital which companies need to continue doing business so where does the stock market’s role as an ‘idiots scale on the health of our economy’ intersect with a real meltdown
just my curiosity
in any case it speaks volumes that confidence in our economy has plummeted and yet most of these people probably still voted for Obama. His rhetoric has changed accordingly too remember how he said it might take longer than 4 years!
The market and most businesses have zero confidence and dread of Obama. I know business owners who would have toughed it out if McCain had won. They had layoff plans in case O won. The day after the election they laid people off.
Ping. I’m still out, thank God and thank you for your insight.
I think this is what they have wanted all along.
The Obama Rally
You're very welcome. And stay out...it's going to be getting a lot worse.
Don't even think about equities right now unless the credit market truly heals - which it's not showing any signs of.
Also, for those in bonds - watch out for the coming bond market implosion.
We're also going to see dislocations in the world currency markets, and commercial real-estate will begin having the same problems that residential real-estate is experiencing.
We still have a long ways to go folks. Buckle your seatbelts.
This isnt Obama’s market. He is not President.
When he takes office, if it comes back they will say it was all his doing. And the rise will be a greater percentage gain than the loss. (If that makes sense.) He is being set up to be a hero.
This economic crisis is a direct result of a very powerful financial instrument that wasn't fully regression tested - called Credit Default Swaps.
The exposure to CDS contracts has brought down the economies of the world, and we're just getting started.
U.S. Presidents - past, present, or future are powerless to stop it. It has to play itself out.
Congress is just standing in the path of a runaway train. They need to let insolvent corporations go bankrupt. They're just prolonging the financial agony for all Americans.
Change has started sooner than we thought possible.
Let’s see. We’ve stopped blaming Clinton for W’s economic mess, and now we’re blaming Obama.
You're all reading this wrong.
This market is not going to be healed by Obama. We are heading into a deflationary depression.
And if governments don't stop following Keynesian economic principles then we have a good chance at seeing a hyper-inflationary period after we exit the depression many years from now.
Zero could be a hero if he’d just issue a statement saying that he will not seek or endorse any tax increases and he now favors reducing the capital gains tax rate.
What you said! I hope SCOTUS recognizes the cause-and-effect issue here. The phony COLB is the perfect reason to get rid of this traitor and get our economy back on track.
Just before the election, when the Dow was up-and-down, Kudlow said that if McCain won, we’d have the “biggest rally in the history of history”. Sadly, McCain didn’t win, and now we’re all suffering.
Tend to agree with you.
And the more government intervention, the longer this nightmare is going to last. IMO
Would people like Warren Buffet have expected to be seeing assets evaporating?
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