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Live Thread: POTUS to speak to country at 1730 ZULU concerning S&P downgrade
08 AUG 11 | dcbryan1

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...


TOPICS: Breaking News; Business/Economy; Government; News/Current Events; Politics/Elections
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To: untwist

NASDAQ, DOW and S&P all losing over 5%.


741 posted on 08/08/2011 1:06:22 PM PDT by mware (By all that you hold dear on this good earth, I bid you stand, Men of the Wes)
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To: All

put on your scuba gear to follow it down


742 posted on 08/08/2011 1:06:28 PM PDT by WashStateGirl
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To: All

put on your scuba gear to follow it down


743 posted on 08/08/2011 1:06:47 PM PDT by WashStateGirl
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To: mware
Looks like folks are dumping their stock.

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%

744 posted on 08/08/2011 1:08:25 PM PDT by mware (By all that you hold dear on this good earth, I bid you stand, Men of the Wes)
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To: mware
Big time bloodbath...


745 posted on 08/08/2011 1:10:03 PM PDT by Justaham
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To: mware

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


746 posted on 08/08/2011 1:10:12 PM PDT by untwist
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To: mware
Big time bloodbath...


747 posted on 08/08/2011 1:10:26 PM PDT by Justaham
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To: mware

NOBODY wants to get caught holding in the morning....
ESPECIALLY FINANCIALS, and Oil stocks


748 posted on 08/08/2011 1:10:33 PM PDT by tcrlaf (PREFRONTAL LOBOTOMISTS FOR OBAMA2012!)
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To: WashStateGirl

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?


749 posted on 08/08/2011 1:11:52 PM PDT by hattend (As always...FUJM)
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To: mware

6 more minutes to prove “how successful” Obama’s speech was. /S


750 posted on 08/08/2011 1:12:37 PM PDT by Justaham
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To: tcrlaf

DOW may recover some before the market closes but I think we are looking at two straight days of -500


751 posted on 08/08/2011 1:13:21 PM PDT by mware (By all that you hold dear on this good earth, I bid you stand, Men of the Wes)
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To: Justaham
I'd love to hear this question asked of him or his lackeys:

"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....

752 posted on 08/08/2011 1:18:13 PM PDT by Bruce Campbells Chin
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To: mware
Thus endeth the lesson.

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%

753 posted on 08/08/2011 1:19:12 PM PDT by mware (By all that you hold dear on this good earth, I bid you stand, Men of the Wes)
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To: mware

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....


754 posted on 08/08/2011 1:20:05 PM PDT by tcrlaf (PREFRONTAL LOBOTOMISTS FOR OBAMA2012!)
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To: mware

Its settling worse than that.


755 posted on 08/08/2011 1:21:40 PM PDT by John W (Natural-born US citizen since 1955)
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To: John W

Yep, late trading all sell offs.


756 posted on 08/08/2011 1:22:59 PM PDT by mware (By all that you hold dear on this good earth, I bid you stand, Men of the Wes)
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To: mware

Again, wow, just WOW! I am going to buy myself a rope so I can prevent myself from jumping off the window.


757 posted on 08/08/2011 1:23:17 PM PDT by Justaham
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To: mware

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.


758 posted on 08/08/2011 1:25:31 PM PDT by John W (Natural-born US citizen since 1955)
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To: tomkat
The clinical term is Pathological Narcissism

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.

759 posted on 08/08/2011 1:34:33 PM PDT by CitizenM (He who is silent is understood to consent)
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To: mware

All major US indexes off at least 5.5%.

Wow.


760 posted on 08/08/2011 1:36:50 PM PDT by FourPeas ("Maladjusted and wigging out is no way to go through life, son." -hg)
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