Posted on 11/06/2008 12:20:37 PM PST by DoughtyOne
The current two day drop of the DJIA figure is the largest post election crash in U.S. History.
The DJIA figure was off 915.92 a few minutes ago, that's 9.5% since Obama became President elect.
Pundits who just days ago were saying that U.S. Citizens had more faith in Obama when it related to the economy are now having to hurriedly work up stories reassuring the public that this drop isn't related to public fear that Obama is not up to the task of managing the current economic problems.
Silly me, I thought the downturn was due to several dreadful earnings reports that were released Monday and the jobs report due out tomorrow showing a net loss of 200,000 jobs for October.
Just got back from shopping , cant believe some of the items thats disappearing from shelves.!! reminds me of Y2K
I purchased cigs and diet pepsi..
BE Prepared !!
How many trillions have disappeared now?
Look on the bright side, how many trillions will not/cannot be distributed to the lazy undeserving Obamabots.
They wanted something for nothing, well they are going to get less of nothing for nothing.
I didn’t “thunk” that’s for sure. Did some more buying the past 2 or weeks, hoping to smile when Mac came in-looking at DJIA up 1,200 by tomorrow.
I’m not an avid gambler, especially with investments. But I gambled a bit doing this, thinking my country wouldn’t be stupid enough to vote this fool into office.
Ask me how I feel today...
I’m a little unclear what constitutes breaking news if this isn’t breaking news. Do we have to link to post news that is clearly valid, and of interest to the forum?
It seems to me there is value in holding Obama’s feet to the fire as much as we can during this next four years. That was the practice under Bush.
As we speak the market is now down very close to 10% down in two days, and sliding as we speak. Isn’t that a factoid that is important to herald as it relates to Obama?
My 401(k) is becoming “change” I can believe in.
Yes who? ;-)
Slly me to think that the feared economic policies proposed by Obama are additionally piling on to those dreadful reports.
Let’s see - we have a man assuming the presidency who has no executive experience, shows no evidence of anything more than superficial knowledge of economics, ran on a promise to raise capital gains taxes and redistribution of wealth, has promised additional federal spending of at least another trillion dollars and promised to punish Wall Street for its “greed”. We also have a congress coming in that will dominated by far-left ideologues champing at the bit to regulate and tax everything they can get their hands on and that just a few weeks ago intruded government into financial institutions to a degree never before seen.
Nope, no reason to believe this has anything to do with market fluctuations. None at all.
My 401(k) is becoming “change” I can believe in.
Oops. Seems I’m not the only one with this thought.
LOL
Just living up to lowered expectations.
The adults in the room are anticipating the effects that an Obama administration will have on the general state of economic and financial considerations over the coming months. Someone predicted a stock market DJIA standing at about 5500 as of the day of inauguration, that may be optimistic.
Now would not be the time to be instituting higher tax rates on capital gains or net incomes of any level. Revenues to the US Treasury are going to really crash over the next few months, years maybe, before they get back up to the current levels. This does not bode well for any expansion of schemes for “spreading the wealth around”.
Enforcement of these new government issued orders may be a little hard to carry out.
By eliminating wealth prior to redistributing it, it makes the job much easier. Sort of like a moving sale.
915pts => $1.6 Trillion loss in two days.
If only one variable was different-Mac elected Tuesday instead of BO-what do you think the market would look like today? The same?
The “pie” people are gonna be mad...real mad. It is all about them, isn’t it?
I love it!
Obamanomics, the definition of; The U.S. based National Bureau of Economic Research (NBER) defines Obamanomics as “a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP growth, real personal income, employment (non-farm payrolls), industrial production, and wholesale-retail sales.”[3] A sustained recession may become a depression.
LOL
I don’t see this as an Obama anything much at this point, but how would the media spin this if Bush, McCain, Palin, or anther Republican had just been elected? We all know the answer of that, so I think it’s time to start using hard hitting reporting against them.
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