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Posted on 10/01/2002 4:57:03 PM PDT by Recovering_Democrat
Edited on 04/29/2004 2:01:20 AM PDT by Jim Robinson. [history]
NEW YORK (CNN/Money) - The Dow Jones industrial average made a fighting comeback with a triple-digit rally Tuesday, posting its strongest gain in six weeks at the start of a new month and new quarter.
The 30-share Dow, the world's most widely watched stock average, jumped 347 points, with much of the gains coming late in the session, after news that Iraq had agreed to allow the return of U.N. weapons inspectors; an advance team is due in Baghdad in about two weeks.
(Excerpt) Read more at money.cnn.com ...
When the market goes DOWN, Democrats trample on each other to get in front of a camera to say it is because of Bush tax cuts, Bush budget, Bush "recession"...and no one in the press challenges them.
What a joke.
The stock market goes down because valuations are too high. Stocks are too expensive, and people are lightening up on expensive stuff.
Does anyone ever wonder why 9/10 biggest moves in the DJIA have happened on this side of 12000? It's called "short squeeze." People who short stocks have to buy them at some point to close their position, so when there is any stupid move up, the shorts buy to trim their potential losses or lock in profits and that sends stocks up and up and up.
Shorts are the only ones (beside mutual fund managers that have to "be in on the bottom") that buy this crap.
Pubbies in power might produce a stupid political rally, but when valuations are at nosebleed levels, the pressure is to sell and reduce the valuations to levels which are sustainable.
Anyone who thinks otherwise should expand their historical perspective beyond 1982.
Keep buying this crap. I love taking money from FReepers just as much as I do others. How many bottoms have we had since the winter of 2000? How many rallies that were "the real deal?"
In today's news we had reports of economic contraction, a computer company which spins a different yarn than every other company in the business (both suppliers and customers), an uptick in the unemployment, and some Mid-East dictator bought another month to get his weapons and terror cells in line - showcasing Western stupidity.
If the Pubbies get a clean sweep in November, our taxes will still be sky high (and probably going higher), social spending will skyrocket (to show that we are 'compassionate conservatives'), downward pressure on American wages will continue with the amnesty of 4million mestizo lawbreakers (and millions more when the word gets out), the debt ceiling will increase, causing foreign flight from the dollar, and all of the attendant troubles from that, and yada yada yada.
In short, Dems or Pubbies will do essentially the same thing. If the Pubbies get in, there will be a monster short squeeze followed by the short opportunity of a lifetime.
FReep on,
-Orion
Dead cat bounce.
The big boys are still trying to draw in the suckers who will take out a second (or third) mortgage and put that money in the market, which has "reached its bottom".
My thoughts exactly. Wonder why the media doesn't report it this way???? ;o)
The same line was being spouted (even by myself) during the 2000 election aftermath.
There are many fundamental problems (immigration, regulations, taxes, education, loss of Freedom) with our economy which will not be solved by simply winning a Republican majority.
These problems require action, and the GOP isn't running on ANY of the issues, so what makes you think they will act once elected?
If the GOP doesn't win the Senate, conservatives will be blamed, and the establishment Republican leadership will use it as an excuse to move even further to the left.
If the GOP does win the Senate, they'll just use some other excuse to not advance a conservative agenda. Or they'll just tell us to wait until 2004, so they can have a mandate.
I've been around long enough to see just how the Liberals have gotten away with what they have. For the past 40 years this country has been under assault by them and slowly they have managed to get elected and take control of the media.
A strict constitutional conservative will have a hard time getting elected to the Presidency for many years. There is no way we can expect this President to reverse 40 years of liberal influence and control in one or two terms. Just how much support Rush Limbaugh would get in a Presidential election? We have to slowly reverse the course of this country and appoint as many conservatives to the judiciary as we can while slowly changing the educational system we currently have.
You have to be able to get elected to be President and you have to be the President of all the people to get re-elected. To think anything different will only insure a RAT in 2004. Now you can toss your vote away by voting for a true conservative who will get as many votes as Harry Browne and sit here on FReeRepublic and bitch about where we are headed if you want. I want to vote against the democrats who I feel is the real threat. If it means electing someone who I don't always agree with.. SO BE IT. I would rather see a few changes in the right direction than none at all.
But as usual it's your choice
Yeah. Opinions are like....well, you know.
Have another drink.
The closest Republicans to being "constitutional conservatives" were Reagan and Gingrich. They (and more importantly, their ideas) both won landslide elections.
If you think it's hard to win now, just wait 10 years when all these illegal or illiterate immigrants are voting. But Bush is going to turn them all into staunch Republicans, right?
There is no way we can expect this President to reverse 40 years of liberal influence and control in one or two terms.
After witnessing the first 2 years of his administration (CFR, Farm Bill, federalization of airport security, Patriot Act, Education bill, UNESCO, no guns for pilots, etc....), I don't expect it either.
Most rational folks understand that 70 years of the welfare/police state will not be repealed overnight by executive fiat. It takes time, but it also takes vision, which involves convincing people, and a plan.
First, it involves convincing people to the support conservative/constitutional issues. A strong argument can be made that a majority of the American people already support these issues based on the landslides of Reagan and Gingrich, two very different personalities but with similiar ideals.
In order to convert people the constitutional side, it is imperative to address things at the fundamental level (Freedom and the Constitution). Reagan and Gingrich excelled at this and made frequent references to both. Today's GOP does not address issues at their basic level. Instead, they throw around platitudes which serve only to annoy conservatives, contribue to the ignorance of the sheep, validate the arguments of the left, and fail to energize the dissaffected voters.
The next thing is to have a plan. Many Republicans have done this in the past and present, but it is sorely lacking from today's top-level Republicans. Reagan's plan was to slash and reform the income tax system. Gingrich's plan was to abolish 4 cabinet departments and return power to the states. A good present-day example is Mark Sanford, who is running for gov. of SC. He proposes to abolish the state income tax over 18 years (that's too long, but at least it's a step in the right direction). What is the plan today at the federal level? There isn't one.
But as usual it's your choice
I hope the GOP does retake the Senate, because that will prove if they are for real or not. No more excuses.
Maybe if you're in gold ;-)
Hard to read the political import of these kinds of news items.
The reason why the Market picked up today was because of the latest poll results showing the Republicans will most likely take over the Senate and retain the House.
OK, OK, OK...
If the market likes the Pubbies so much, why has it been going down the entire time GWB has been in the WH?
If the market went up because of Torch's problems, why didn't it go up when it was announced rather than several trading hours later?
If the market went up because of the Pubbie gains, please explain the first hour of this morning's trading?
Answer: The market doesn't care about politics - just valuations, emotion, and speculation. We are overvalued, and are selling off.
This market has run on the greater fool theory for almost a decade, and fools with money are becoming harder to find, thanks to the bear market.
Reading politics into the market is a dicey endeavor. It makes you look like a hack or a spin doctor. What will all the FReeper Pubbie cheerleaders say when the market tanks when the Pubbies hold the WH, House, and Senate? I know - they will still blame The UNIBANGER. In twenty years, they will blame Billzebubba. All market good news (going up) is attributable to the Pubbies; all market downers are the fault of the Demoncrats.
Amazing...
Either way, the market doesn't care who the Senate Majority Leader is.
Does anyone remember Lott? Anyone? Anyone at all...?
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