Zero: Gee - did I do that?
Adding a whole new meaning to "Vomit Comet." ;)
Posted on 03/05/2009 9:19:19 AM PST by Red in Blue PA
NEW YORK (AP) -- The Dow Jones industrial average dropped another 200 points today on fresh concerns about banks and about General Motors. In midday trading, the Dow is down 219.11, or 3.19 percent, to 6,656.73, a low not seen since April 1997.
he Standard & Poor's 500 index dropped 26.09, or 3.66 percent, to 686.78. The S&P has not traded below this level since October 1996. The Nasdaq composite index fell 42.29, or 3.12 percent, to 1,311.45.
Investors are having another change of heart and are selling stocks once again after a one-day burst of optimism fizzled.
(Excerpt) Read more at finance.yahoo.com ...
move... now...
No, we would have to do three things. The first is to decide that we WANT to rebuild this party. With "leaders" like Steele and candidates like McCain, I say to hell with it.
Bingo!
Now, what about today. I am scared to see what the Dow Futures are right now, been trying to conjure up the courage to check the markets this morning but with the February Jobs data being released today I just can't master my fear.
I didn't sleep at all last night worrying about it.
I am hoping for a miracle today, and then I realize we have a false prophet in charge of the government.
That was the Slim Pickens character, riding the bomb down? Sometimes I feel like that's all there is left to do.
I could post that same graph and put data points on it about things occurring in Iraq, in Europe, things that the Supreme Court ruled on, whether or not Britney Spears had underwear on that day and say see....look, it affected the stock market.
And sell to whom?
The Obama economy..
And as people become more familiar with the tax evading felons of Obummers administration, it will become increasingly difficult for the IRS to get a jury to convict anyone of tax evasion. :o)
6,550.71
Change: -43.73
11:00am 03/06/2009
We need to be careful calling this an Obama falling market. When the market comes back (and it will) do we want to give the Obamanation the credit?
Since the Main Street Media will give Obama the credit for any recovery, we need to credit him for the collapse, starting when he took the lead for the Presidential Election in September.
“When the market comes back”
It won’t be coming back in any meaningful way, esp with cap and trade, higher taxes etc etc.
Zero: Gee - did I do that?
Adding a whole new meaning to "Vomit Comet." ;)
No thanks to that ride, I’ll pass.
Many people prefer self-delusion to reality, and even if Pres. Obama's election were responsible for the drops, the key is what the electorate believes. The blame is on GWB, but many FReepers prefer putting their heads in the sand, rather than admit that we have to deal with perceptions.
I’ll back you up on the concept you are trying to get across. This crisis was already coming long before Obama was nominated for president. Most people here can’t see that and cling religiously to their dream that this is all Obama’s fault. Ignorance is bliss. You will never convince them. It is futile to try. I should know. I am constantly engaged in that futility.
Obama may be making things worse faster, but he is not the blame for this collapse and he is not the cause of it.
For example, Robert Prechter saw this coming back in 2002 by using Elliott Wave theory and found that the massive runup in liquidity flooding the economy from 1982 to 2000 mirrored a similar massive runup in 1921 to 1929. In 2002, he called a similar crash and that is precisely how this market crash is playing out.
Most people are nice but clueless to these things and they need a boogeyman. We all hate Obama here as we should, as he is a dangerous communist who wants to socialize America from top to bottom and destroy the God given liberties identified to us and protected for us by the Founding Fathers.
But is he to blame for this economic collapse? Of course not. Greenspan and Bush are far more culpable for this collapse by opening the floodgates and letting liquidity absolutely flood the system. Even they are not “to blame” per say as history was going to repeat anyway. If not them, then someone else soon.
It is just the system we have. As long as the government is going to try to prevent economic downturns by turning on the liquidity tap, they are going to create bubbles that end up in a depression sooner or later. Well, it’s later.
Don’t bother with those who have no knowledge about these principals and just want to blame Obama for the collapse. You will never convince them. Ignorance is bliss.
There was no escaping this crash no matter who was elected and what their policies were. Freeper jackmercer is right in his statement that this crash was coming independent of any action by Obama. He is right. If Obama is successful in creating the USSA, then going forward our economy will look a lot different. A lot worse. But as of this time, with the DOW down 50%, he is right that Obama did not cause this collapse and he is right to correct the MASSES of Freepers who want to pretend this is all only Obama's fault. It is like blaming the guy who took you over the waterfall when you have been enjoying the white-water rafting trip for the past 10 miles.
I think Conservatives are generally on the right track, but they can be dead wrong as well. It is not Conservatives but liberals who forced the clean up the environment when the sky over Los Angeles was a black cloud and when Lake Erie was flammable.
Credit where credit is due.
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