Posted on 11/06/2008 12:20:37 PM PST by DoughtyOne
The current two day drop of the DJIA figure is the largest post election crash in U.S. History.
The DJIA figure was off 915.92 a few minutes ago, that's 9.5% since Obama became President elect.
Pundits who just days ago were saying that U.S. Citizens had more faith in Obama when it related to the economy are now having to hurriedly work up stories reassuring the public that this drop isn't related to public fear that Obama is not up to the task of managing the current economic problems.
Wait until the the zero has his press conference tomorrow!
That’s a good idea. Have a runoff election a month after the original vote between the two highest vote getters.
Where can you track the status (never invested in the market)? This is two days in a row post election.
They are reacting to the payroll numbers, looks like the report shows 200,000 jobs down, announces tomorrow. This is a is a leading indicator as to how long and severe the recession will be.
If the market stays where it is at right now, it will be the largest two day drop since 1987, that’s 19 years ago.
If anything confidence in a new leader would have prevented this drop. Instead we see almost a panic.
This isn’t just industry related IMO. There has to be an Obama factor in there. The news just isn’t that bad today.
We could easily have a 10 to 11% drop in two days, by the end of the day.
Add insult to injury, the Obama Admin is going to make their Inauguration theme “A New Birth of Freedom”
That is knee slapping funny.
“Can you say Dow 5000?”
Can you say Dow 2000?
I’m a fan of Ayn Rand, while well aware of the shortcomings of Objectivism. There’s an Atlas Shrugged ping list on FR now, it was just started. Ping me back if you want to be on it and in the meantime I’ll figure out who owns the list.
Obama and his minions killed the golden goose. States are laying off and raising taxes to meet budget short falls.
They wanted change and they sure have gotten it, I predicted that we would see buyer remorse for obamabots within 6 months of Jan 20th, may actually see within couple of weeks.
I have no sympathy for 0 or his followers, they have sown there downfall now let them reap.
Obama is about to experience shortest honeymoon of any president.
And he is not up to the challenge.
Maybe this will destroy that evil contigent for all eternity
Actually, the dreadful reports were released Tuesday. My mistake.
down 447 now
There have been a number of informative posts on this thread. Thanks to all of you. I have to take care of other matters now, so I’m not going to be able to discuss this with you, or even address each reply, something I always try to do.
Take care.
Actually, I'd agree with the author on that point.
It's related to the fact that Obama is a radical socialist who has promised to raise capital gains taxes.
buy on the dips sell on the rips, to me this is a trading market, not my cup of tea. So I am out, may do some shorting with etfs if I can find a broker I like.
I like this site http://www.marketoracle.co.uk/Article6773.html for info only not opine on US politics.
I am still researching at this time am leaning toward bonds but it is going to take me a long time, so I am staying in cash for now.
Down 500
Thanks!
The payroll numbers are down - the entire economy is down and falling specifically because of the democrats. The market already reflected the anticipated recession. Seeing Obama and the democrat's proposals ensures that it will be longer and deeper than had been anticipated.
Thinking that this major election has nothing to do with the DOW is just wrong. One would have to be blind to not see how bleak the economic outlook is for this country with the left in such a potent position.
Amazing...blew right past 8666....tomorrow will suck.
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