Posted on 06/30/2010 1:14:20 PM PDT by Mad Dawgg
NEW YORK (MarketWatch) -- U.S. stocks intensified their losses Wednesday afternoon, nearing the end of what is likely to be Wall Street's worst quarterly performance since the first quarter of 2009.
(Excerpt) Read more at marketwatch.com ...
Apparently the Obama elevator only goes down................
The market was up slightly for most of the day, then I saw the headline “Obama attacks GOP over Wall Street bill.” Market dropped over 1% as soon as started shooting off his fat mouth. Typical.
My guess ~ George Soros and his funny little friends couldn't keep pumping it up so the BUBBLE POPPED.
This is going to go all the way back to FALL QUARTER 2008.
The market doesn't go up unless there are profits because, ultimately, it is built on profits and their expectation.
Secondly, when you have continuing DEFLATION that's going to reprice equities ~ so sayeth BONDS ~ and they been saying that for several years now.
Credit ain't there. Inflation ain't there. Profits ain't there. There ain't there.
Buy short.
Or was that "They (Soros) took it in their shorts".
>Next, what happens when the Gold Bugs face melt-down ~ nobody wants that stuff anyway!
WIMPS!!!
QE 3 (trillion) is to finance what T-shirt guns are to basketball games, free junk.
When it's back down to $16 an ounce you'll see what I'm saying.
NOTE: to self, hide the gold ~ they're sniffing around again.
Gold will get to 16 bucks an ounce about the time Obama becomes Pope.
Deflation will be driven by everybody pinching pennies to survive (no spending) when Taxes necessarily skyrocket in 2011.
The market was up slightly for most of the day, then I saw the headline “Obama attacks GOP over Wall Street bill.” Market dropped over 1% as soon as started shooting off his fat mouth. Typical.
He is the perrenial buzz kill. After two years, I don’t have a clue what actually makes the man happy. I remember a story about Gen MacArthur. He would hire hookers not to screw but to have on their knees telling him how great, handsome and intelligent he was. Don’t know if this story was true, but oddly I could see Obama doing the same.
Ratzinger better start sweating then!
Imam maybe, Pope never.
He's the archetypical leftist in that. Ever seen a happy leftist? Hell, Stalin and Mao weren't happy even when they were killing millions of "state enemies".
Yeah, nobody wants that stuff...uh... except countless investors large and small and a few giant nation states like China and India - both of which bought hundreds of tons of the stuff.
Nobody wants paper (stocks, bonds, currencies, IOUs whatever). The money's gotta go somewhere.
Why would The One take a demotion?
Heck, I didn't even know he was running for Pope.
In fact, after his pre-election European tour, I think Obama was certain he had "World President" in the bag.
Watch what you say. I never would have guessed he would have been elected President let alone awarded the Nobel Peace Prize all within a year and a half.
Just about every day it seems the last hour tells the tale. I'd sure like to know what's really happening behind the curtains in that last hour.
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