Posted on 08/08/2011 8:31:48 AM PDT by DCBryan1
CNBC just broke in and told the audience that the President has requested airtime and will speak to the nation at 1300hrs EST (12 noon central, 10 AM PST) on the US national debt downgrade.
Developing...
NASDAQ, DOW and S&P all losing over 5%.
put on your scuba gear to follow it down
put on your scuba gear to follow it down
Dow 10,835.28 -609.33 -5.32%
Nasdaq 2,378.96 -153.45 -6.06%
S&P 500 1,124.64 -74.74 -6.23%
Yep, it’s an Obama rally!. He said there are no more discretionary cuts possible, need to work on Medicare cuts, have a long-term plan with lots of tax increases. I just don’t see the problem. /s
NOBODY wants to get caught holding in the morning....
ESPECIALLY FINANCIALS, and Oil stocks
You know, even Obama butt lickers have to have their pensions tied up in Mutual Funds and the market in general.
They are going to have to re-think this whole “re-elect the Won” aren’t they?
When does the left begin to feel what we are feeling?
6 more minutes to prove “how successful” Obama’s speech was. /S
DOW may recover some before the market closes but I think we are looking at two straight days of -500
"When the President began his term, one of the phrases we kept hearing was 'never let a crisis go to waste.' Does the Administration have a new spending program it is planning on pushing to take advantage of this crisis?
That "never let a crisis go to waste" sounds much worse now than it did even then. I hope someone rams that mantra up his teleprompter....
Dow 10,830.66 -613.95 -5.36%
Nasdaq 2,363.90 -168.51 -6.65%
S&P 500 1,123.03 -76.35 -6.37%
10 Yr Bond(%) 2.3390% -0.2190
Oil 83.58 -3.30 -3.80%
OMG... DOW Down Over 631 At the close. S+P500 and the Russell 2000 ARE EVEN WORSE....
I thought it would be a bad day, but even I didn’t think it would be THIS BAD....
Its settling worse than that.
Yep, late trading all sell offs.
Again, wow, just WOW! I am going to buy myself a rope so I can prevent myself from jumping off the window.
Have the mainstream media’s talking point. The great and powerful speechifier kept the close at eight one-hundredths of a point off the day’s low.
Oh, indeed, I know the condition quite well. In fact, Obama is a malignant narcissist. I have posted about it quite often, ever since his campaign the signs of his emotional dysfunctions have always been there. It just surprises me that he hasn't had a typical narcissistic breakdown by now and tried to run away from the reality of being found out for the fraud that he is.
I am actully quite sure he will be relieved to end his term, and has no problem with that. He has already mentioned it a couple of times, laying the groundwork, so to speak by saying that "my family doesn't care if I run for re-election, they support me either way," months ago. And, once in an interview he proclaimed that if he hadn't fixed the economy in three years of his term, he knew he would be a one term president. He has been prepared, and truly has found the job too hard.
Facing the people who no longer adore him is just too painful for a troubled, tormented narcissist. They can't bear to fall from favor in the eyes of the ones they have hoodwinked. Actually, I am sure he is in a depression and is being medicated by the people closest to him who are pulling the strings and pretending that the man they support is mentally strong. All the while, I am sure they know there are real problems with "the won" and his capabilities.
All major US indexes off at least 5.5%.
Wow.
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