Posted on 11/07/2008 12:32:51 PM PST by MrFred
Market Update
3:05 pm : President-elect Obama has started a news conference after meeting with his economic team. He said America needs a rescue plan for the middle class, including a fiscal stimulus plan. He will also review the current administration's financial plan.
The stock market gives up half of its gains as Obama makes his statements.
(Excerpt) Read more at finance.yahoo.com ...
I just asked the question on another thread. I think it dropped almost 200 points overall.
B.O.
5K in 70 days.
You heard it here first.
He wasn’t bad. He just didn’t have anything to add, which is not surprising. He was even mostly respectful to GWB. In fact, I expected a lot worse.
He said, “Bush is still your President until January 20th”. That’s what caused to the drop.
So then all we need for an economic recovery is a Secretary of Keep Him Quiet and a big roll of duct tape?
“I just asked the question on another thread. I think it dropped almost 200 points overall.”
I hear that Barbara Streisand liked trading on line. Her eyes must really be crossing as the market drops.
Maybe the press can feed him his answers before the conferences.
“5K in 70 days.
You heard it here first.”
I am a little more optimistic, thinking 6500.
I won’t give too many details, but Obama’s election has cost me in the five figure range in three days. I was actually not doing bad re the previous market crash and a lot of the losses have been made up.
It is the Obama Economy stupid. (why not, they blamed President Bush for the Economy of 2000).
Yea, well what was the jab at Nancy Reagan about? The market reacted because he could not answer the question about raising taxes. He is a louse and can not speak off teleprompter....
The Dow is still green, up over one hundred points. Back when W used to give his early economic speeches, the market would go down many hundred.
“Maybe the press can feed him his answers before the conferences.”
Or he can have his press conferences when the market is closed.
“It is not going to be easy for us to dig ourselves out of the hole that we are in,” Obama said.
I guess Wall Street isn’t looking forward to getting out of a hole by digging it deeper...
I recall he did not say that on September 15th.
Comrade Obama is being disengenuous.
I love that graph. 10% in two days post election. If thats not a clear signal, I am not sure what is. Hide your money, the government is coming for it.
Believe me: you deserve it.
Actually everytime he said “middle class tax cut” the market dropped.
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