When Obama Speaks, the Market Tanks

Red State ^ | 2-25-09 | Robert Bluey

[smoothsailing]

When Obama Speaks, the Market Tanks

Wall Street investors send White House a message

Posted by Robert Bluey

Wednesday, February 25th at 10:29PM EST

The best thing President Barack Obama can do for the economy is keep quiet. A day after delivering an address that won widespread praise from the chattering class, Obama’s big-government policies were rejected by traders on Wall Street.

Wall Street’s negative reaction to Obama is nothing new. Ever since Election Day, Obama’s words have failed to inspire investors. “When the President speaks, the market listens … and crumbles,” said Family Research Council chief Tony Perkins, who outlined the following pattern of the Dow’s drop after notable Obama addresses:

• Nov. 5, 2008 (Wednesday after Election Day): -486 (5.0%)
• Jan. 9, 2009 (one day after Obama speaks at George Mason University on “need” for $800 billion stimulus package): -143 (1.6%)
• Jan. 20, 2009 (Inauguration Day): -332 (4.0%)
• Feb. 10, 2009 (one day after Obama declares that without a stimulus, “an economy that is already in crisis will be faced with a catastrophe”): -382 (4.6%)
• Feb. 17, 2009 (market opens for the first time after Congress passes $787 billion stimulus on Feb. 13; Obama signs bill into law, declaring, “The stimulus lets Americans claim destiny.”): -298 (3.8%)
• Feb. 19, 2009 (one day after Obama announces potential mortgage relief plan): -90 (1.2%)
• Feb. 25, 2009 (one day after Obama’s first speech to the full Congress): -80 (1.1%)

[Just A Nobody]

The Obama presidency is going to be a radical presidency.

Gee, ya think? Radical and unconstitutional, go figure.

[Just A Nobody]

Outstanding back to back posts, smooth! Thanks!

[Just A Nobody]

Not that y'all axed me, but .....

Smooth, your thoughts on the matter are correct from my understanding of the con job being proposed. Although, I think it is $7.00 per week or 13.00 e/o/w.

Jaz said; In fact if you come up too much short on withholding I believe there’s a penalty.

Many years ago when I was doing taxes that law went into effect. IIRC, if you owe, or they owe you, more than 10% of your tax "obligation" there were indeed penalties involved. I can't imagine that has changed.

[jazusamo]

Hey, Smooth! We’re in the dog house cuz we didn’t ax Justa. I’m safe because I’m on the other side of the country but you’re NOT. LOL!

Thanks Justa, I’m glad someone posting here knows the score. Also glad the one posting is you! :)

[Just A Nobody]

We’re in the dog house...

LOL! NEVER! Not you guys!!! Lest ye forget...YOU ARE THE BEST!

Thanks Jaz. I'm happy to be amongst old FRiends again. ;*)

[smoothsailing]

Hey, Smooth! We’re in the dog house cuz we didn’t ax Justa.

[jazusamo]

LOL! Great pic, we had a black lab for 11 years that could have been a twin to that one.

[smoothsailing]

Then I picked the right one for you! And guess what, we had a golden lab!

[jazusamo]

Labs are great dogs. Both our daughter and son have black labs and the grandkids love them.

[smoothsailing]

They really are great dogs. Our’s made to 11 also.