Comments for Obama Elected! DOW TUMBLES 500 Points »
Posted By pc25 1 year, 1 month ago in NewsNEW 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, 1 month ago
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RedRiverJ1 year, 1 month ago
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pc251 year, 1 month ago
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I am going to take all my money out of the bank and put it into the government backed mortgage derivative sub prime securities that I have heard so much about.........cant' be selfish now and think only about myself........I've seen the light.......what did Obama say the other day in a speech "He Calls it SOCIALISTIC"
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PsychoHosebeastComment removed: Spammer, Abusive
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ind061 year, 1 month ago
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Yeah, you should do that. Because the DOW hasn't plummeted a few times these past few weeks and CLEARLY this is all because of the election.
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If the headline was "Oklahoma Gets Tennis Ball-Sized Hail! DOW TUMBLES 500 Points" would you rush off to divest yourself? -
PsychoHosebeastComment removed: Spammer, Abusive
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Teech1 year, 1 month ago
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And the Dow will continue to plummet, as a direct result of Bush economic policy, until January 20. By then it may be at 5 or 6 thousand. Mission accomplished! Dumbya and his cronies will then start to buy, you should too, because it will soar to new heights under Obama.
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Bush and Cheney will be buying from Dubai or South America. Bush's best pal, Osama Bin Laden will also be buying big, but from Afghanistan, or Dumbya's ranch in South America.
A cushy future for Osama Bin Laden. Martinis in Dubai with Dickie, or buggering sheep on some ranch with George W. It DOES pay to have friends in high places.-
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jimdoze1 year, 1 month ago
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Sorry, Teech. This is a direct result of the real estate bubble which was created at it's root, by Fannie Mae, Freddie Mac and its palm-greased social-engineering, legislative patrons, Barney Frank, Chris Dodd and Barack Obama. Don't go laying this on George Bush. He ain't guilty!
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kevinmc31 year, 1 month ago
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Teech,
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You're a bit clueless. Go to Youtube and watch the video yourself, Bush actually warned congress PRe-9/11 of an impending Fannie Mae/Freddie Mac crisis. I realize you are so deep seeded with your Bush hatred , WHY not just blame everything on Bush. And as someone else replied you can also watch the videos of Barney Frank and Chris Dodd saying "Are you crazy, with this housing boom and you want us to regulate Fannie Mae?". And, these same fools pretended to be heroes when the crisis hit, Ultimate Hypocracy. Teech, you could always gone around fabricating and blaming Bush, but too bad we got the videos to prove you wrong...;}
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Dionys1 year, 1 month 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!).-
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chevydog1 year, 1 month ago
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At least three possible theories (take your choice):
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The stock market isn't rational, never has been, never will be.
Developments in the business world haven't stopped for the election.
The stock market truly doesn't like Sen. (now Prez-elect) Obama.
That must be the same black cat I chased away from the garbage can. -
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MotiGui1 year, 1 month ago
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Market went up 800 points the day of the election and went down the day after and today so far. Nothing unusual, investors are selling and taking profits. Time to buy is now when the market is down, it will recover in 2009 but Obama MUST make this a priority NOW and not in January. January is the time to implement the change that is being discussed now.
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nostalgia1 year, 1 month ago
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"Nothing unusual, investors are selling and taking profits."
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Wouldn't you take profits now when Obama already said he was going to increase the capital gains tax?
"January is the time to implement the change that is being discussed now"
What change would that be?-
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jovial1 year, 1 month ago
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"“The top capital-gains rate for families making more than $250,000 would return to 20% -- the lowest rate that existed in the 1990s and the rate President Bush proposed in his 2001 tax cut. A 20% rate is almost a third lower than the rate President Reagan set in 1986,” wrote Obama advisors Jason Furman and Austan Goolsbee in Thursday’s Wall Street Journal. "
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It sits at 15% now. -
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PsychoHosebeastComment removed: Spammer, Abusive
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pc251 year, 1 month 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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you need to ask Obama about his present vote when Freddie Mac/ Fannie Mae reform legislation came up in the senate and while you are at it ask him about the $140,000 in contributions he received from them.........-
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Dionys1 year, 1 month ago
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You need to stop trying to blame Democrats for the craphole job of managing the country the GOP has done.
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I mean seriously. The economy goes into the craphole and it's somehow Clinton's fault.. it just took years to surface.. but the Obama's elected and it's instantaneously his fault? You can't have it both ways.-
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tchef1 year, 1 month ago
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Here! Here! Things are going to get worse before they get better. We have only just begun to see the effects of this financial disaster. Wait until Christmas when all the stores are going to be screaming because of the low sales. I'm sure all the Cons will be blaming Obama even though this mess has been caused by their boy Bush.
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ugagentorange1 year, 1 month ago
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typical of someone who has NO CLUE how business works. Listen up. When the government has to deregulate, it has to REMOVE the regulations put in before. Clinton is the one that REGULATED banks and FORCED them to give loans and mortgages to undeserving people and people who cant afford it. BEFORE Regulation, you needed 20% down payment to get a mortgage cuz banks were more responsible. That was with Reagan. Clinton ADDED regulation to force banks to give out mortgages like candy. The GOP saw the mess that was occuring, and REMOVED it. This problem STARTED with Clinton. Period. Barney Frank who was in charge of the Housing Committee since Jan. 2007.....said NOTHING about the BS at Mae and Mac, and said everything was SWELL and hunky dory. THAT is the problem. Toothless freak barney Frank should've WARNED people that they were about to CRASH. Anyone who blames Reagan for any fiscal failure just doesnt have a clue.
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libsRfunnyComment removed: Hard Banned2 Replies
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BB641 year, 1 month ago
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Actually if you read the market, there is a pretty close comparison in drops the market to bad news for McCain. So what are you guys going to now? Blame Bush? Oh, no he's a lame duck. The whole show is yours and it's already collapsing around you. Bummer. Barry could blame congress. Oh no you have that too. Well in the end I'm sure it's all the racists taking their money out of the markets. Yea the racists, blame them.
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refinanceComment removed: Spammer
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DaneL1 year, 1 month ago
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ybdogsct1 year, 1 month ago
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http://www.venturacountystar.com/news/2008/nov/05/...
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"Dow posts biggest Election Day rally. It was the biggest Election Day rally for the Dow, which rose 3.28 percent and topped the 1.2 percent gain seen in 1984 when Ronald Reagan defeated Walter Mondale. Broader market indexes were also up more than 3 percent Tuesday.
Some analysts said the market rose on relief that the presidential election was about to be decided. Still, some analysts say the gains might not be sustainable. Although uncertainty surrounding the election will be cleared, they said there are still many challenges, and some of the market volatility seen in October, in the weeks and months ahead.
The Dow rose 305.45, or 3.28 percent, to 9,625.28. The Dow last closed above 9,500 Oct. 6. he broader indexes also rose. The Standard & Poor's 500 index gained 39.45, or 4.08 percent, to 1,005.75, its first close over 1,000 since Oct. 13. In the past six sessions, the S 500 has rallied 18.3 percent. The Nasdaq composite index rose 53.79, or 3.12 percent, to 1,780.12, its longest winning streak of the year."
Only a great fool would blame the current economic crisis on someone who hasn't even assumed office yet. LOL. Bush apologists are really something else -- everything is either Bill Clinton's fault or Barack Obama's fault, nothing is every BUSH's fault.
Pathetic.-
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DaneL1 year, 1 month ago
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ybdogsct1 year, 1 month ago
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DANEL: "I just stated a fact. Lay off the caffine."
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Just stating facts, huh? Well, chew on this:
FACT - The Dow posted its biggest Electon Day rally on the very day Barack Obama was elected president.
Lay off the Kool-Aid.
No wonder you and your ignorant ilk were voted out of office. America has had enough of the likes of you.
Pathetic.-
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MotiGui1 year, 1 month ago
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Right, it posted a gain of 800 points. The next two days it posted a loss of over 900 points resulting in a negative gain overall. Today it posted a negative 443 which so far for the week that's a 10% loss. Unless some miracle happens tomorrow - Friday - then it's really a rotten week, or a good week if you're a buyer/seller.
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BB641 year, 1 month ago
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Since the polls closed well after the market did, that doesn't mean anything. Perhaps it was investors that thought McCain had a chance. Because the next two days were clearly Obama's time and this is clearly a different story. Major indexes have lost about 10 percent since Barack Obama was elected president — a vote preceded by a steep rally — and the losses represent the Dow’s worst two-day percentage decline since the October 1987 crash. Wow, 1987. That's a big drop again.
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ybdogsct1 year, 1 month ago
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BB64: "Perhaps it was investors that thought McCain had a chance."
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Now you're really reaching. Oh, how desperate Bush's apologists have become. LOL.
BB64: "Major indexes have lost about 10 percent since Barack Obama was elected president — a vote preceded by a steep rally — and the losses represent the Dow’s worst two-day percentage decline since the October 1987 crash."
Now, do you have any actual FACTS to present to support your unsubstantiated argument that Obama's election alone has caused the Dow Jones' recent losses? Or is this unsubstantiated bloviating all you really have to offer?
It's laughable that Bush apologists such as yourself excuse Bush's economic policies for the current crisis and can provide ZERO EVIDENCE of a causal relationship of Obama's election on the Dow's performance. The FACT of the matter is that the Dow is down not because of Obama's election, but because of the unemployment numbers recently released by the Labor Department, reported layoffs, decreased consumer confidence, and continuing housing slump.
It's time for YOU to put up or shut up. Post your evidence showing a direct and irrefutable causal relationship between Obama's election and the Dow's performance today.
http://news.yahoo.com/s/ap/20081106/ap_on_bi_st_ma...
"Wall Street plunged for a second day, triggered by computer gear maker Cisco Systems warning of slumping demand and retailers reporting weak sales for October. Concerns about widespread economic weakness sent the major stock indexes down more than 4 percent Thursday, including the Dow Jones industrial average, which tumbled more than 440 points.
Comments from Cisco that it saw a steep drop in orders in October and reports from retailers that consumers are skipping trips to the mall provided fresh evidence of the economy's struggles.
Adding to investors' list of worries, the Labor Department said the number of people continuing to draw unemployment benefits jumped to a 25-year high, increasing by 122,000 to 3.84 million in late October. It marked the highest level since late February 1983."
http://money.cnn.com/2008/11/06/markets/markets_ne...
"Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams, said that the steady stream of bad economic reports and weak corporate earnings and forecasts was taking its toll. In particular, the number of companies announcing layoffs was unnerving investors, especially ahead of Friday's big monthly jobs report.
October retail sales from the nation's chain stores were mostly abysmal, with some discounters such as Wal-Mart Stores escaping the fray. The housing market collapse, credit crunch and strained labor market have all taken their toll on consumers' wallets. Most retailers saw October sales in line with the bruised economy. Thomson Reuters estimates the monthly sales could be the worst in eight years.
The number of Americans filing new claims for unemployment last week topped forecasts. The weekly number followed a pair of monthly reports Wednesday that showed the labor market continued to get hammered in October. The reports were especially worrisome ahead of Friday's big government report. That report is expected to show that employers cut 200,000 jobs from their payrolls in October.
Stocks aren't likely to move higher until at least the second quarter of next year, as investors start anticipating an economic recovery six or nine months out."
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DaneL1 year, 1 month ago
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"FACT - The Dow posted its biggest Electon Day rally on the very day Barack Obama was elected president."
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Now you see I can accept this fact without even calling names, you seem to have serious problems. Maybe try yoga or something.
And the DOW lost another 441 today. Try not to freak.-
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ybdogsctComment removed: Spam
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ybdogsct1 year, 1 month ago
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You need a broader perspective. Instead of looking day-to-day, examine how the markets performed during the entire tenure of Bush's term and compare it to how the markets performed during the entire tenure of the last Democratic President, Bill Clinton.
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http://finance.yahoo.com/q/hp?s=^DJI=00=20=1993=00...
Note that the DJIA rose steadily during the Clinton Presidency from 3300 in Jan 1993, to 11,500 by December 1999, before settling back at 10,600 by the time Bill Clinton left office.
http://finance.yahoo.com/q/hp?s=^DJI=00=20=2001=10...
Now, here are the monthly Dow Jones closing averages since George W. Bush has been President. The average was about 10,500 when he took office, and today it's at 8,695.
http://www.usatoday.com/money/markets/us/2008-11-0...
"In election cycles since World War II, the Dow Jones industrials have posted bigger average returns under Democratic presidents, the Stock Trader's Almanac says."
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BB641 year, 1 month ago
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Unless you're homeless living on SSI it certainly does. That reduces the short term credit used by most companies to stock and maintain the business. Free that or move to cash up front and you will see business after business cut back. Less stock, less staff.
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Talking economy, the president doesn't have much to do with the economy. That's the job of the House. As to the failures of Fannie and Freddie, the path leads directly to Dodd and Franks.
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ybdogsctComment removed: Spam
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ybdogsctComment removed: Spam
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ybdogsct1 year, 1 month ago
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That's right, a member of the Democratic Party who happens to be more educated than their Republican counterparts. Lucky for me, the health care sector is generally regarded to be recession-proof.
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http://www.gallup.com/poll/106381/Obama-Education-...
"Barack Obama leads John McCain by a significant margin among voters with the most education. McCain leads Obama among those with the least education. Thus, it appears that Obama's strong showing among educated voters in the Democratic nomination contest would extend to the general election as well.
http://www.cnn.com/ELECTION/2006/pages/results/sta...
College graduates are more likely to vote Democrat than Republican by a 53% to 46% margin. Those with postgraduate degrees are more likely to vote Democrat than Republican by a 58% to 41% margin.
http://www.pubmedcentral.nih.gov/articlerender.fcg...
"U.S. medical students are considerably more likely to be liberal than conservative and are more likely to be liberal than are other young U.S. adults. Among these medical students, 5% self-characterized as politically very conservative, 21% conservative, 31% liberal, and 9% as very liberal.”
You're a Republican, aren't you? A member of the same Republican Party who was just booted from office? Well, don't let the door smack your ass on your way out.
LOL.-
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DaneL1 year, 1 month ago
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It's very nice that you have learned to cut and paste in college. I'm sure you are on the public dole to get thru school. I too am in the recession-proof sector, I'm retired. Yes retired at 52. Education is great but if you don't know what to do with it, it's worthless. Everything I learned was learned when I left school. Those that can, do. Those that can't, teach. And by the way I was a math teacher for a short while.
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ybdogsct1 year, 1 month ago
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DANEL: "It's very nice that you have learned to cut and paste in college."
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Actually, developing a coherent argument includes the presentation of documented FACTS to support one's conclusions -- a skill I first learned not in graduate school, not in medical, not in undergrad, and not in high school, but in primary school. Judging from your unsupported argument, your formal education is severely wanting. Just as the data above shows.
LOL.
Now, if you'll excuse me, I need to go save lives. You see, some of us have fulfilling jobs and can't spend all day on a website with anonymous strangers.
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libsRfunnyComment removed: Hard Banned2 Replies
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ybdogsct1 year, 1 month ago
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UGAGENTORANGE: "The problem with your long winded response....is we are talking about the day AFTER the election."
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Yes, the day after the election which happens to be a couple months BEFORE Obama has even been sworn into office -- i.e., a couple months BEFORE Obama even has a chance to execute his economic policies.
It's laughable that Bush apologists such as yourself excuse Bush's economic policies for the current crisis and can provide ZERO EVIDENCE of a causal relationship of Obama's election on the Dow's performance. The FACT of the matter is that the Dow is down not because of Obama's election, but because of the unemployment numbers recently released by the Labor Department, reported layoffs, decreased consumer confidence, and continuing housing slump.
It's time for YOU to put up or shut up. Post your evidence showing a direct and irrefutable causal relationship between Obama's election and the Dow's performance today.
http://news.yahoo.com/s/ap/20081106/ap_on_bi_st_ma...
"Wall Street plunged for a second day, triggered by computer gear maker Cisco Systems warning of slumping demand and retailers reporting weak sales for October. Concerns about widespread economic weakness sent the major stock indexes down more than 4 percent Thursday, including the Dow Jones industrial average, which tumbled more than 440 points.
Comments from Cisco that it saw a steep drop in orders in October and reports from retailers that consumers are skipping trips to the mall provided fresh evidence of the economy's struggles.
Adding to investors' list of worries, the Labor Department said the number of people continuing to draw unemployment benefits jumped to a 25-year high, increasing by 122,000 to 3.84 million in late October. It marked the highest level since late February 1983." -
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ybdogsct1 year, 1 month ago
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http://money.cnn.com/2008/11/06/markets/markets_ne...
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"Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams, said that the steady stream of bad economic reports and weak corporate earnings and forecasts was taking its toll. In particular, the number of companies announcing layoffs was unnerving investors, especially ahead of Friday's big monthly jobs report.
October retail sales from the nation's chain stores were mostly abysmal, with some discounters such as Wal-Mart Stores escaping the fray. The housing market collapse, credit crunch and strained labor market have all taken their toll on consumers' wallets. Most retailers saw October sales in line with the bruised economy. Thomson Reuters estimates the monthly sales could be the worst in eight years.
The number of Americans filing new claims for unemployment last week topped forecasts. The weekly number followed a pair of monthly reports Wednesday that showed the labor market continued to get hammered in October. The reports were especially worrisome ahead of Friday's big government report. That report is expected to show that employers cut 200,000 jobs from their payrolls in October.
Stocks aren't likely to move higher until at least the second quarter of next year, as investors start anticipating an economic recovery six or nine months out."
Go ahead. Post your data. Until then, your unsubstantiated bloviating "means SQUAT."
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4thchance1 year, 1 month ago
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I'm conservative and I disagree. Right now many of the things that have gone wrong are in one part or another the fault of Bush. Remember now, it happed under Bush's watch.
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So then, it's only fair that when Obama is sworn into office, from that day forward all that goes wrong will be the fault of Obama. Like if we have another horrible hurricane and many die and have no food or water for a few days, then Obama will be at fault for that, right?
I'll bet most of you will say NO, THAT'S NOT HOW IT WORKS. In other words, the blame game is a one way street!!!!!!!!!!!!!!!
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slate1 year, 1 month ago
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TcarosComment removed: Hard Banned12 Replies
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jovial1 year, 1 month 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, 1 month 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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jovial1 year, 1 month ago
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pc251 year, 1 month ago
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yeah but the markets are reacting to him today according to the article.......
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and he hasn't actually endeared himself to wall street with his wealth redistribution and economic plans because the naked reality is they have no idea who this guy is as he has talked in circles for 22 months now...he has promised everything but has laid out nothing about his plans throughout the whole election cycle all he has done is get in front of people and pontificate, saying nothing, but saying it very well....very akin to Nancy's Pelosi's common sense approach to high gas prices that she promised in 2006. Well we finally learned what that common sense approach was 'lets bankrupt our economy as well as the rest of the worlds with this housing bubble due to the sub prime fiasco and energy prices will come back down to earth.........Good move Nancy, and Harry, and Barney, and you too Barack.....-
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jovial1 year, 1 month ago
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He got elected yesterday. He doesn"t take the oath until January 20th. You and a bunch of Wall street speculators want to blame him on the first day for catastrophe that was in placebefore he even got elected. I think you and the speculators and author of this story are jumping the gun. It seems downright vindictive.
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pc251 year, 1 month ago
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I am wondering if anyone caught one of Obama's economic advisers on Fox today. apparently one of the plans the Obama people are thinking about to get Americans back to work is to build new roads and infrastructure. A new WPA project in the offing.........now we have a new Administration who would love nothing more than to wean people out of their cars and into public transportation wanting to build new roads, highways, and repair bridges and tunnels as a way of jumpstarting the economy. DUHHHHH
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that's bright isn't it, lets build new roads,tunnels and bridges that no one will use because no one can afford $10/gal gas since I have become President
http://www.guardian.co.uk/world/2008/oct/14/uselec...
In an echo of the New Deal in the 1930s, Obama proposed embarking on programmes to repair bridges, roads, schools and other infrastructure projects that have been on hold for decades.
To provide immediate relief for struggling families he suggested allowing people to dip into their retirement funds and imposing a three-month moratorium on mortgage foreclosures.-
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pc251 year, 1 month ago
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http://www.washingtonpost.com/wp-dyn/content/artic...
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As congressional Democrats push for billions of dollars in new spending on roads, bridges and schools to create jobs and revive the economy, many economists are skeptical of the proposal, saying that public works spending is likely to trickle out too slowly to ease the effects of a recession.
we are going to build new roads and bridges for people to use but at the time we are going to wean people into public transportation.....
you cant make this stuff up-
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Tangent0011 year, 1 month ago
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Dude, people use long-haul interstates mainly for vacation and business travel. The Over-the-Road trucking industry is the primary way goods get to markets. Trains and ships do some of the heavy hauling into ports and major centers, but from there, it's pedal to the metal all the way.
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Public transportation is great for relatively short commutes in metro areas and more trains would help between, say, Denver and Colorado Springs. Those long-distance commuter projects are YEARS away.
You're really off-base here.
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italymeetsdixie1 year, 1 month ago
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And when taking anyones advice in this mess, I would probably not choose someone who has been directly helped by the bailout, and was in no small part a cause of the meltdown to begin with. But thanks for sharing what Wachovia had to say. Silly.
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slate1 year, 1 month 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, 1 month ago
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Our illustrious leader you defend by attacking Obama had many opportunities over the years with a rubber stamp Congress to do basically whatever he wanted. He chose to follow failed policies. Now you're crying because the new Congress has to try to undo and save our economy so they can take the responsibility, whilst our President continues to sign things into law rather quickly before he leaves office. The result is he's leaving even a much bigger mess that adds to the problems that already exist. Admit you eff'd up! Stop trying to align yourself with a party that has such a dismal track record.
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nostalgia1 year, 1 month ago
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"the new Congress"
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How can you describe them as "new" They have been there 2 years?
So you don't mind that they take a 3 month vacation in the worst economic situation since the Depression (according to Obama)?
That is the type of leadership we will continue to get from Pelosi and Reid?
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jovial1 year, 1 month 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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JaimieM1 year, 1 month 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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jpc2891 year, 1 month ago
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Awesome election? How about incredulous election? We now have a president-elect: a) who refused to prove he is in fact a natural born U.S. Citizen (Berg vs Obama); b) whose trip to Hawaii to be with his gravely ill grandmother before she passed away not only just happened to coincide with the Clinton appointed Judge's dismissal of Berg vs Obama but immediately following which the Director of Hawaii's Department of Health also just happened to announce that the vault copy of Obama's Hawaiian Birth Certificate had just been put under lock and key; b) who put his college admission paperwork, student loan applications and college senior thesis under lock and key just prior to announcing his candidacy; c) whose own web-site biography indicates he didn't have a full-time job during the 13 years between graduating from Harvard and being elected an Illinois State Senator, therefore raising the question as to how/if he paid back his student loans; d) who for 20-years was endeared with TUCC's Black Idiology and Reverend Wright's "God Bless America?, No, GOD DAMMMN AMERICA!" diatribes, and; e) whose long-time friendship and working relationship with domestic terrorist William Ayers would have made him ineligible to run for POTUS if he had had to undergo the same FBI security clearance background investigation prior to running for POTUS that I had to undergo prior to being eligible to attend the U.S. Army's "Nike Hercules Missile and Radar Field Test Equipment Operation and Repair" school in 1965. Absolutely, completely, positively, totally and utterly incredulous!
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Hmmmm...since Obama says he wants to help entrepeneurs start and operate small businesses, he should jump at the chance to help me start a healthcare business then contract with my business as the sole provider of healthcare to him and his family after they enter the White House (in lieu of the government/military healthcare historically provided to POTUS and family). When he asks to see my medical degree I will refuse to show it to him. When he requests any information about me from the college I attended he will find that I put everything under lock and key just before I asked him to help me start my business. When he researches my post-college employment history he will see a couple decades of "community service" but no full-time paid employment at all. When he investigates my personal background he will find out not only have I been a card-carrying member of the KKK for 30-years but that David Duke has been my personal mentor and close family friend. When he asks me to explain any/all the foregoing I will either deny, obfuscate, lie or change the subject. And when he refuses to help me start my healthcare business because of one/all the foregoing I will sue his friggin' arse in Federal Court for discrimination!
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icono11 year, 1 month 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, 1 month 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, 1 month 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, 1 month 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, 1 month 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, 1 month 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, 1 month 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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pcknowledge1 year, 1 month ago
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Let's see:
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Bin Laden (?) attacked us on our soil, a few months after Bush became President.
The economy took a dive while Bush is President.
Iran threatens to build nuclear weapons, while Bush is President.
We invaded Iraq (a country that had nothing to do with 9/11) while Bush is President.
We are stuck in 2 wars we can't seem to finish off, while Bush is President.
Putin threatens Polland, while Bush is President.
Home foreclosures throughout the US, while Bush is President.
Dow tumbles 500 points, while Bush is still President.
Putin threatens to move missiles into Poland, while Bush is still President.-
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oneironaut4201 year, 1 month ago
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"Bush is president, but you can bet your ass that the GOP will try to blame Obama for every single one of those things and more."
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Considering that the Republicans are already trying to blame everything politically, socially, and economically wrong with our country on a 2-year Democratic Congress that was saddled with a hostile Republican president -and- a Democrat who hasn't even taken office yet, I'd be willing to bet way more than my a$$ on that... 8)
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europus-041 year, 1 month 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
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antibrainwasher1 year, 1 month 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, 1 month 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, 1 month 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, 1 month 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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Dionys1 year, 1 month ago
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Just because some white guy got scared because he'd never seen a black person before and started yelling "black panther" when he saw two security guards who happened to be black, it doesn't mean there was any intimidation.
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What a silly little man (or woman.. or man-woman) you are. -
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pboccuti1 year, 1 month ago
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Black Panthers still exist? Maybe in some South American jungle. They were not black panthers. I live in Philly. I live in the neighborhood that this "happened in" although it was not my polling station. They were not doing anything. People are just full of crap. If you watched the video, you would see people walking right by these "intimadators" and paying them no mind.
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What was funny is in one article related to these "Black Panthers" was that the person writing the article claimed that they were going to vote for Obama until they saw this. What a joke.
If someone is intimadating or trying ti intimadate you, just call the Cops. Plain and simple.
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antibrainwasher1 year, 1 month 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, 1 month 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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Eagle_Eye1 year, 1 month ago
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"IF I HAD ANY MONEY,", that's just it, you don't have any money so you don't understand what has happened over the last 8 years in the market.
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AND the market started going down lonnnnnng before Obama was even nominated as Dem. candidate.
Idiot Sock Puppet..... -
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antibrainwasher1 year, 1 month 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, 1 month 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, 1 month 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, 1 month 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, 1 month ago
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Dionys1 year, 1 month ago
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Yep. I'm in the same boat. Anyone who bought anywhere near the peak shouldn't be in the market. Anyone near to retirement who had a crapload of money in the market and volatile securities while it was peaking instead of conservative stocks, bonds, et cetera has no one to blame but themselves.
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Well. They can probably blame some of the banks and securities firms a little bit for playing loose with the rules.
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draperks1 year, 1 month ago
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Outland THANK YOU!!!! I am a registered repulican and I am white and I voted for OBAMA. If McCain had the same values as Obama did and wasn't a clone of Bush I would of stayed with my party. I voted for the issues not color. It amazes me how in 2008 we still have so much hatred against african americans, and if it was for african americans we wouldn't have so many items we use daily. Last time I looked his mother was white and he was raised by his white grandparents. So tell me why he isn't a white man. Why did everyone vote for McCain? because he was white?? because I sure hope it wasn't for what he planned for this country. I would love to go on a family trip again, or see my daughter go to college next year. I WOULD LOVE A RAISE!!! I work for a company that pays my health care and under McCain I would lose that. To the person that stated we will now be solialist country HELLO!!! where have you been?? this county has been solialist forever, do you have any say to where your tax dollars are spent. The government uses our money as they see fit that is socialism people. Grow up and embrace the change because a year from now when your 401k has recovered and everyone has settled down and started spending again i'm sure your words of disgrace will turn into OH I KNEW HE COULD DO IT.. as if you were behind him the whole time.
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cmkx4diamondsComment removed: Spam
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frctm51 year, 1 month ago
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Predictably the bitter conservatives will begin to blame economic problems that they caused on Obama who hasn't even started his term yet. We're going to move forward with or without you. The Republicans have put the economy so far in a hole its going to take time to fix this problem. Their massive borrow and spend policies have bankrupted the country and we have nothing to show for all the money spent except for a few fat cats getting rich on the publics nickel. Republicans are going to be out of power for a long time. Get used to it.
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krystaleahs1 year, 1 month ago
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Seems like your the bitter one here. I have no problem placing blame on the republican party and democrat congress majority for that matter. This is the titile of the article "Anxiety Over Obama, Recession Hits Dow" it's not like we are coming up with this, it is stated in the title. I am interested to see where Obama will take this country. You don't create more investments by raising the capital gains rate. You don't create jobs by punishing the businesses that provide the jobs. We'll see.
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frctm51 year, 1 month ago
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No, I am cool. If McCain had won, then I would be upset. As for the anxiety of the Dow, you may or may not have noticed but it has been tumbling long before this election. Its current tumble is barely even significant compare to where it was and how far it has already fallen.
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krystaleahs1 year, 1 month ago
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Don't forget the Dow also hit its record high during this administration also. I am aware the market has been up and down a lot these past few months. I truely believe the government should never intervened into the mortgages, going back to the CRA. Yes, loans would be harder to get, but then we wouldn't see all this subprime and bad paper/cooked books BS that's ruined it for our market.
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frctm51 year, 1 month ago
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Or it could have something to do with the rising unemployment figures, decrease in retail sales in October, and poor earnings reports that were released today. The market is responding to more bad economic news and this has nothing to do with Obama or the election.
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Karlyc1 year, 1 month ago
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The stock market is anticipatory. The decline indicates investor sentiment concerning the election. Historically, the market recovers after the new president comes in, since it declined to the low in anticipation. I hope that pattern holds, so at least there is a recovery in the stock market and the present crash is not permanent.
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Dave591 year, 1 month ago
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Wow some of you people are amazing. I remember some on this very message board were talking about how great Geoge W did when the DOW went over 1400. How about his involvement in the drop? The election has very little to do with this. The fact that people are in panic mode has much more to do with it. Things will not get better until we stabilize the job market and get people back to work. Consumers cannot buy things unless they have money. Many do not have that right now. If people don't buy companies can't grow. That is pretty basic economics. That why the market falls and rises in fits and starts right now.
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That aside, I'm bargain basement shopping the market right now. Made two grand in the last four days just from holding on and waiting plus buying some real good stocks that are under valued right now. If you jump out you lock in the loss. Wait it out it will come back. My losses have plus some.
It pretty plain that some of the UH..conservatives here aren't too good at the stock market I think. Not that I care I made more in the market this week than I make at work. I can stand getting paid twice for working once. And by-the-way I'll take all that money any of you want to throw away selling at a loss. -
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Will13131 year, 1 month ago
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could also be that many portfolio managers are shifting their priorities..
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stocks that did well under a Clinton presidency did not necessarily do well under a Bush presidency and stocks that did well under a Bush presidency may not do well under an Obama presidency.. -
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donald51Comment removed: Hard Banned
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babysdaddy021 year, 1 month ago
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lol did you even watch the election? You are obviously dumb as hell, or have really bad math skills because unless i'm mistaken, Obama won in a landslide. Let me put it in simple terms for you, most of the US voted for Obama, only you few retarded trailer trash hicks voted for McLame. Obama brought the good people of America together in record numbers. Go back to school buddy.....Jesus.
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oldgringo1 year, 1 month ago
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The DOW is tanking again because third quarter financial information is just coming out. News tomorrow will be that unemployment may be as high as 7.5%. It has nothing to do with Obama. By the way, congratulations to all of you who voted for him. Obama gave one of the most moving speeches I've ever heard in my life. I wish my new President well, and may God bless him in all of his endeavors.
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bubba21 year, 1 month ago
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Well, this story is 1 day old now so no one may notice, but --
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The market is NOT falling this week because of ANYTHING to do with Obama's election.
Here is some info for you all as to WHAT is influencing the drop in the DOW ...
November 6 -- The number of U.S. residents collecting state unemployment benefits reached the highest level in 25 years, rising by 122,000 to a seasonally adjusted 3.84 million in the week ending Oct. 25, the Labor Department reported Thursday.
http://www.marketwatch.com/news/story/continuing-j...
November 6 -- Slumping retail sales, poor corporate earnings and trouble in the auto industry conspired to darken the outlook for the American economy on Thursday. But investors bet that the worst was yet to come.
http://www.nytimes.com/2008/11/07/business/07marke...
November 6 -- Just ahead of the crucial holiday shopping season, most of the nation’s retailers reported double-digit declines in October sales on Thursday, underscoring how the financial turmoil has touched all stores, be they discount or luxury.
http://www.nytimes.com/2008/11/07/business/07shop.... -
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saneman1 year, 1 month ago
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Its a no brainer. If all the money is concentrated in a few people, then very few people have the money to buy any goods. Prosperity comes by being able to sell your goods to a large market not to a few rich people. I make and sell products and I need more than a few people to buy my products. My situation is no different than any other company making and selling products. I will be very disappointed if Obama doesn't get us out of Iraq asap. The USSR went bankrupt under very similar conditions when it was in an endless war in Afghanistan.
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frctm51 year, 1 month ago
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Amen. The rich don't get rich by selling to other rich people. It is the mass market where fortunes are made and lost. I get tired of hearing these ignoramuses saying when is the last time a poor man offered you a job? The poor and the middle class are the market that create jobs. When is the last time people living in Martha's Vineyard went shopping at Wall Mart or took their children to McDonalds or Disneyland? How many Chevy's are bought by the nations wealthiest versus the workers and toilers who create wealth by their labor, and their consumption. There is a fundamental disconnect in the minds of conservatives on where their money comes from. No one gets rich alone. Absolutely impossible. You need employees and consumers or your products are worthless. Intelligence is always trumped by jingoism in their camp. They don't see how their fortunes and those of the average American are ultimately intertwined. They're stuck on stupid.
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babysdaddy021 year, 1 month ago
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Oh, and I guess Obama was responsible for the dow when it plummeted almost 800 points a month or so back huh? This is why Obama is now the President elect, because the rest of the country isn't stupid enough to vote in more of the same policies that are still failing. I guess the boys on wall street were full of panic long before Obama was elected huh? Did you even go to school?.....like ever? BUB, it's unfortunate that you can't see past your own pathetic ignorance
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