Obama Elected! DOW TUMBLES 500 Points »
Posted By pc25 1 year ago in News
NEW YORK (Nov. 5) - A case of postelection nerves sent Wall Street plunging Wednesday as investors absorbed a stream of bad economic news and wondered how a Barack Obama presidency will help the country weather a possibly severe recession. Volatility returned to the market, with the Dow Jones industrials falling nearly 500 points.
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pc251 year ago
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RedRiverJ1 year ago
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Dionys1 year ago
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So how come the Dow plummeted a few thousand lately? I'm pretty sure Obama wasn't elected then.
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Blaming Obama for the Dow dipping when the Dow is already having fits is like saying the Dow dipped because a black cat crossed in front of me today (it did! I swear!). -
refinanceComment removed: Spammer
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DaneL1 year ago
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slate1 year ago
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Tcaros1 year ago
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Slate nearly everyone knows that Bush tanked the economy. It may have been purposefully tanked so that the rich could cash-in before Bush leaves office. It's called "stealing everything that's not nailed down."
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The economy can be manipulated by the rich elite and world bankers.
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jovial1 year ago
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Wow let the new games begin. The market has been falling and rising like this for weeks. There were many factors that this could be attributed to. To blame Obama is over reaching I think. Remember, the ball is still in Bush's court right now. He should have had the foresight to see this coming and counteract it. All that aside, Americans aren't the only ones in a bad way right now. It's a global recession. Here's some examples. Ukraine, Hungary, Iceland, are all facing complete bankruptcy. (that's not a complete list)
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In Germany the fear of recession is great.
German Chancellor Angela Merkel is putting up a lot of money to try to quiet hysterical markets. At the same time, though, Germany and Europe appear to be sinking quickly into a recession. Experts believe a massive economic stimulus package is needed to stop the slide. Russia is in trouble in their markets as well. The one thing that I fear the most is if China moves away from the dollar standard. This article though lengthy talks about this.(if you're interested)
http://www.atimes.com/atimes/China_Business/JJ02Cb...-
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pc251 year ago
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Jovial
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so good to hear from you........the honeymoon was very brief was it not...........
the ball is in Bush;s Court right now
FTA
The celebration is over. Today we saw a bit of reality," said Al Goldman, chief market strategist at Wachovia Securities in St. Louis. "President-elect Obama is coming into a situation with limited experience, having to handle an economy in serious trouble, a couple of wars and terrorism. It's an extremely tough job."
Obama's victory means that industries such as oil and gas producers, utilities and pharmaceuticals may face greater regulation and even taxes, while labor unions and automakers are expected to benefit.
"The market has to go through a period of figuring out if they are going to gain confidence in Obama and the Congress or lose it,"
In addition to monitoring the direction the next administration will take, investors continue to heed the state of the credit markets. The paralysis in the credit markets that began after the bankruptcy of Lehman Brothers Holdings Inc. in mid-September has been alleviated somewhat by a series of government interventions, but they still show some signs of strain.
I don't see anywhere in the article that the ball is still in Bush's court........ -
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slate1 year ago
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I wasn't blaming Obama I was just pointing out what has happened over the years. I do wish Obama well and hope his is left safe an unharmed by some nut. I also hope he can deliver what he has promised in a way that is non divisive and that he thinks of country first over party. The last eight years have been proof that the party first thought process leads to disater for the party and the country.
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jovial1 year ago
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Here's a good link showing the what the markets did after elections from all Presidents. Obama has the highest percentage drop, but that could be a direct indicator of the economic times we live in.
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http://uk.reuters.com/article/usMktRpt/idUKN053197... -
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MotiGui1 year ago
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Bush will be gone in another month-1/2. This "landing in Normandy" won't occur over night, will take most of 2009 depending on how fast Obama's economy plan is put into effect AND if it works. That is what's driving Wall Street right now, not what Bush did. Stop blaming Bush for what might occur. Cross your fingers that Obama will set it straight.
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JaimieM1 year ago
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Putting politics aside, this is the clearest indicator of investor reaction. However, the pattern usually is after a Democrat gets elected, the market goes down in anticipation, and reaches a low just prior to inauguration. Then it starts to recover.
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icono11 year ago
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As I sit here reading all of these wonderful posts the INDU is at approx -278.21(CNBC). The Big Three US Auto makers are in DC to talk to Madame Peglosi for more tax payer bailout money and Transition President 0Bamo is for another stimulus package in the Billions for the economy, via tax payer dollars, early next year.
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Has the redistribution of wealth already started?
Now the INDU is down -281.79 (CNBC).
Could this be a trend?????-
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Dionys1 year ago
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"Has the redistribution of wealth already started?"
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Well duh. It started under Bush. The redistribution of the taxpayer's wealth to the CEOs and corporations that will offer Bush, Cheney and RoveCo jobs after they're kicked out of the White House onto their asses. -
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MotiGui1 year ago
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Investors are taking advantage of the fluctuating market. The market makes a big swing upward 800 points first of the week and then down 500 yesterday and already down 350 as of this writing. Investors are cashing in the profits is why the downward swing. It's not because of Bush or Obama, it's the way the market works.
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pc251 year ago
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the rwo are related because despite receiving tens of billions of dollars in bailout money the banks are now sitting on that money and not underwriting any loans.......the simple reason for that is you people have elected a president that no one knows anything about.......a Fairy Tale won the election not policy......you can thank the MSM for that. The hot fashion accessory for 2008 was either an Obama lapel pin or bumper sticker elevated to the status of a Gucci or Prada hand bag thanks to the likes of the Keith Olbermanns and Chris Matthews. Style over substance
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Dionys1 year ago
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" bailout money the banks are now sitting on that money and not underwriting any loans.......the simple reason for that is you people have elected a president that no one knows anything about......."
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The simple reason is that BUSH shoved that bill through congress without any limits or demands. Frankly they all should have let those companies collapse and then rebuild new, strong foundations. -
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lnefouse1 year ago
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Whenever a Democrat has taken office...the Market HAS ALWAYS GONE UP....Obama, with his socialistic views has dampened the spirits of investors...you know the ones paying 70 percent of the taxes collected in the US and the ones hiring, putting money in research and development..Read the Rise and Fall Of the Roman Empire....see where the liberal train of thought brought them. They do make great clothes now don't they. I only hope President Obama doesn't fall prey to these liberals and force this country in being a 3rd world power...Oh yes, and he's friends with the Unions...look where they've taken the Automobiles in this country..to Japan Germany and now Korea..Where have all the flowers gone...
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Dionys1 year ago
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Obama hasn't taken office yet, idiot.
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Blaming the unions for taking Automobile production to Japan, Germany and Korea is ridiculous. When America can make a car that is similar in quality to Japanese cars, then they'll sell a crapload. But as long as they're making crap that breaks down the first year you buy it, they'll only sell to devoted 'US CRAP' only people. -
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europus-041 year ago
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The stock market is totally irrational as always. Fear, negativity and lack of regulations is the reason why everything
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is so bad there. It will settle and rise by spring. But,
meanwhile those of us who are just waiting it out; are the
ones that belong in the stock market; not the greedy sob's
who are causing the downfall right now. day trading should NOT
be allowed period. If you buy any shares; you cannot sell
for six months. These are rules I would institute if I could
do that. The govt is doing absolutely nothing to help us; this
will not change with new administration.-
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antibrainwasher1 year ago
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Its casino capatilism, and I haven't heard one single conservative speak out against it. YOu are correct euro, its gone from quarterly profit, to daily profit. Forget long term, how much did you make on options today?
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Where are the rational decent conservatives, speaking out against this, which is killing the country? Is there any conservatives left, who give a flying crap about this country our children will inherit? Or all you all just gambling casino operators?
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pc251 year ago
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http://thepeoplescube.com/red/viewtopic.php?t=2417...
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Obama's WealthSpread™: I Can't Believe It's Not Earned! -
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outland1961 year ago
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Ha! The stock market has been tumbling back and forth for weeks, our economy is a mess after 8 years with Bush and now that Obama is elected, its all his fault the stocks are dropping (even though he hasnt even been sworn in yet). You guys are all morons...yes including the ones who wrote this article!
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BUB1 year ago
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OBAMA WILL SORT IT ALL OUT RIGHT AFTER HE SENDS BILLIONS TO KENYA AND OTHER CRAP HOLE AFRIKAN CESSPOOLS. WHATEVER HAPPENED TO IF YOU FEED A MAN A FISH YOU FEED HIM FOR A DAY, TEACH A MAN TO FISH AND..........FORGET IT, THESE BASTARDS ARE TOO LAZY TO FISH, WHY THE ***** SHOULD THEY FISH WHEN ALL THEY HAVE TO DO IS BREAK INTO THE FISH MARKET...TELL ME WHAT THE ***** ARE THEY GOING TO DO WHEN THE FISH MARKET IS EMPTY?
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antibrainwasher1 year ago
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How are conservative republicans ever to gain power when the american majority is non white, and repubican racists like BUB are driving away all decent voters?
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News flash: joe the SCAB plumber represents a minority now. BUB the racist represents a minority now. Can you still afford to emprace this?
Do decent conservatives really want these vote killers in the republican party?
We'll see.
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Albmore1 year ago
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There are several factors here 1. Obama and Biden are two of the top men that recieved money from Fanny may which means no one will be going sfter those responsible. 2. Its not Obama alone but the Dems have control of the house and senate. Stocks never do well in such a situation be it a rep. control or Dem. there must be a counter balance.
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antibrainwasher1 year ago
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Casino capitalism, not based on any standard, money lenders placing unregulated bets on unregulated bets on unregulated rogue insurance products, in unregulated over the counter markets which were illegal before 1999 based on law from the depression when the exact same thing happened.
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Lets just collectively grow a set and start thinking like adults here. All we can hope for is to learn from our mistakes, and to move on. The market needs regulation, america needs some kind of manufacturing base, we need to have an automobile industry making some new form of cars, the old system is dead. We need a new energy economy, the old import the oil or drill baby drill thing is dead. We need to stop polluting the atmosphere with CO2 somehow.
Instead of casino capitalism, we need to invest in the future, and basically grow up. Drop the ideology and do what works. -
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antibrainwasher1 year ago
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Conservatives, america needs you. You need to stop the ideology and start leading, doing what you do best, inovating and creating wealth. You need to stop unregulated gambling and drop the cheap ideology, and start investing long term, instead of always looking for some easy score quarter after quarter. You need to police your CEO's who are running company after company into the ground for personal gain.
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Where are the decent conservatives, who would sacrifice and work to grow this economy and this country? Where are the decent conservatives who would shed their moral arrogance, trying to con the religious zealots into voting republican, just to win an election? That game is up, you conservatives need to grow a set, and grow up. We need the republican party, but the brains and money have deserted it, we need some grown ups to take the reins, to kick out the Tony Perkins, the James Dobsons, who are the shepards for the herd of religious bigots. Why do educated conservatives think you need to have these morons in your party? Its not worth the lies you have to tell. They have brought the once great GOP down to nominating Caribu Barbie.
Who are you and what did you do to the republican party?-
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Lucibelle1 year ago
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I LOVE your last two comments here. The republican party has turned into politics for Jesus, and the reality is that Jesus isn't even happy about it. The Bible is something that is supposed to enrich your daily and spiritual lives, NOT used as a weapon in politics or as a tool to generate more votes. But let's not forget fear. How many people voted for McCain simply because they are AFRAID of Obama? Fear is a great controller, as can easily shut off rational thought. (Patriot act, anyone?) Maybe if we can get the fear out of the republican party, it will start functioning again. To me, it seems quite clear that Obama was voted in by people who are sick and tired of living in constant fear. Only time (more than 24 hours after the elections) will tell the results, but republicans and conservatives need to lay off the fear tactics before they are taken seriously again.
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Bruedaddy1 year ago
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It's funny how everyone proclaims..OH GOD the dow dropped 500 points....
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don't forget the DROP thanks to Bush and the Republicans...
funny thing about the market it ALWAYS drops then it ALWAYS goes back up.
If you're so chicken sh*t that you want to "sell it all before you lose it all" then you have NO BUSINESS playing around in the market that you obviously don't understand.-
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GWHayduke1 year ago
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