Live Thread: POTUS to speak to country at 1730 ZULU concerning S&P downgrade

08 AUG 11 | dcbryan1

[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...

[Justaham]

Right on, Clove!!!

[Girlene]

CNBC said that DOW fell 602 at one point.

Fell to 10,840 at one point. It's currently around 10,950.

[John W]

Right after the clown prince spoke it seemed to be bucking the days trend.

[Justaham]

I think so too. “They” want to stop the nosebleed. Maybe Soros and his rich friends????

[markomalley]

[Madame Dufarge]

Rush suggested the Fed might do this.

[EBH]

Well of course they are....

http://www.wealthdaily.com/articles/plunge-protection-team/1848

[WashStateGirl]

if thats what ‘they’ did, prop up the market at the -600 point today, then tomorrow they will dump it and we will see another -500 day probably

[no-to-illegals]

You are correct and those printing presses have to be used to do something ... even if printing more money is wrong.

[commish]

Definately looks like the plunge protection team is trying. But, there was about the same 150 pt range rebound around 11 this morning also, and just like this morning there was one sharp uptick and now it is turning back negative again.

[Scott from the Left Coast]

They wanted Obama to come on and mumble the Democrat talking points/blame game and have the market to go up by flooding it with borrowed/printed government money. There won’t be a true market any longer, it’ll all be government money, the private money has fled.

[markomalley]

The banks eating each other now?

[Varsity Flight]

Message to the fascio-stalinists:

You cannot force us to purchase EVERYTHING!

Try to COME and make us.

“Thou shall not steal.” Exodus 20:15

“Thou shall not covet.”

[Palladin]

Thanks! It was just as funny watching it the second time.

West uses his wit to good advantage to make a point about Timmy G.

[tcrlaf]

Jumped?? HELL NO!
I sold my PCLN investment last week before Thursday’s crash , and have made a STINKING KILLING today on my shorts!

You just KNEW this was coming, and I think a lot of people bought in to the Democrat/Media “this is no big deal!” spin over the weekend.

[101voodoo]

What we are seeing here is capitulation

[Justaham]

55 more minutes to prove Obama’s incompetencies. Private Investors fleeing as fast as they ca.

[shield]

Yes, WEST IS GREAT.....

[Red Steel]

Dow Jones Industrial Average

(DJI: ^DJI )

Index Value:	10,937.04
Trade Time:	3:01PM EDT
Change:	507.57 (4.44%)

[Tonytitan]

At this point, he’d be better off just saying, “It’s not my fault”

"It's not my fault! It's not my fault!"