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November 11, 2008
Fear of Obama drives Stock Market Down!
How low does the stock market have to go for you Obama supporters to second guess your golden boy?
Fear of his promised eminent tax increases on high earners and business is driving the market to hell.
If you Obama supporters lose half your retirement savings or more, will you admit it wasn't worth voting for somebody with zero relevant experience just because he looks and sounds different from George Bush?
Comments
I'm sorry but I don't think the two are related just yet. You are entitled to your opinion but the market is in trouble for a whole slew of reasons, Obama being president elect for one week not one of them.
Posted by: Adam Dahill at November 11, 2008 1:03 PM
How quickly we forget:
We have already lost half of our retirement savings and according to the news I've read, Bush is still president.
Posted by: SenatorStreet at November 11, 2008 1:07 PM
IB you have about as firm a grasp on what's going on in the markets as you do on your TinTesticles.
Posted by: daveinbedstuy at November 11, 2008 1:10 PM
The stock market is driven by future expectations.
Not to mention, it did very well for most of Bush's term, despite his wars.
Sure, many other factors are at play, but evidently the stock market has zero confidence that Obama will do anything to help.
Obama's first big suggestion as President-to-be, "bailing out the auto-industry," is a perfect example of his complete lack of fundamental business knowledge.
If Obama doesn't see that it's over for the US auto-industry already and that dumping billions into Detroit will merely delay the inevitable, we're in for one hell of a Depression.
Better we face up to the fact that the Japanese and Germans beat us now and focus on other industries we still dominate.
Saving banks is one thing, since our entire economy relies on them. But government Obama picking industries to try and save, like the auto-industry, is the stupidest idea I've heard him utter so far, and it's only his first suggestion since being elected!
Posted by: IronBalls at November 11, 2008 1:21 PM
"How low does the stock market have to go for you Obama supporters to second guess your golden boy?"
Not low at all. Obama nor anyone else can stop what's coming. Only the allowance of the market to find it's own bottom will stop the hemhoraging. He was clearly the best choice for a leader to "find an empty field" to steer this "burning plane" into.
"Fear of his promised eminent tax increases on high earners and business is driving the market to hell."
My handle was golden before Obama was elected.
"If you Obama supporters lose half your retirement savings or more..."
N/A
Posted by: DOW8000SP800 at November 11, 2008 1:24 PM
It will take Obama years to fix what your Bush f.. up so easy there ok!
Your Golden Boy srewed up this country for years to come and it does not seem to me like he gave a damm about you and the rest of his supporters!
700 billion of my money included went to nothing! It was like stuffing a bag without the bottom. Your Boy wants to save everybody but the people that actually spend in this country, read: you me and the guy next door!
Posted by: karo25 at November 11, 2008 1:24 PM
Dave, guess how much money I've personally lost since the stock market started it's descent?
That's right, ZERO.
How much are you down, buddy? How far does it have to drop before you realize what a mistake Obama was for this country?
Posted by: IronBalls at November 11, 2008 1:25 PM
Iron balls lol btw again lol...anyways, so what you are telling me that you support American jobs to be lost in a faster paste than expected, right?
If he won't save the auto industry, where do you think their employees end up???????????
Better do that than bailing out the banks that got us into this grap in the first place, with Bush's guidenance
Posted by: karo25 at November 11, 2008 1:28 PM
karo25,
How many terrorist attacks have there been since 9/11?
Yup, ZERO.
Clearly something we're doing in the Middle East is paying off.
Not to mention THE ENTIRE CONGRESS (DEMOCRATS AND REPUBLICANS) voted to authorize Bush's wars.
Can't you at least take responsibility for your actions and stop blaming Bush?
Posted by: IronBalls at November 11, 2008 1:30 PM
The auto companies need to go through bankruptcy.
Posted by: daveinbedstuy at November 11, 2008 1:34 PM
karo25,
Are you a community activist? (that's a joke) You clearly do not understand economics.
Former auto industry employees will have to be re-trained (I have no problem with the Obama government helping to pay for the re-training) and go out and find new jobs!
Will hundreds of thousand of families be forced to leave Detroit, probably.
But why should the government dump hard earned tax payer money into a black hole that's already a done deal? It's insane.
Posted by: IronBalls at November 11, 2008 1:36 PM
THE CONGRESS VOTED AGAINST THE WAR! BUSH WENT AGAINST IT ANYWAY.
Besides this whole mess started during bushes administration where Obama wasn't even in the picture. It's just easier to blame him for what's going on..I guess you gotta blame someone
Posted by: karo25 at November 11, 2008 1:38 PM
The taxpayers have no more money to give! And this monolog of yours is turning into an argument. I'm out
Posted by: karo25 at November 11, 2008 1:42 PM
Dave,
I should fess up that I pulled out of the stock market several years ago to fund real estate purchases. If the Dow hits 8000 this week, I may buy a few stocks, but I'll sell them as soon as the next short term rally occurs.
I'm no stock market guru, but I know enough about business and economics to know that higher taxes in the midst of a recession will create utter chaos for jobs on main street, not to mention profits on Wall Street.
Obama may "transcend race" as the media loves to say, but he sure as hell does not transcend the stock market, that's for sure.
Posted by: IronBalls at November 11, 2008 1:44 PM
karo25,
Congress did not vote against the war. They overwhelmingly voted to authorize it.
Don't you remember Obama incessantly blaming Hillary for voting for it during the primaries?
Obama's advertising blitz has brainwashed half the country.
It's funny how liberals are like religious fanatics.
Facts mean nothing. . . if you don't believe in the messiah, you're going to hell . . . what a load of crap.
They crazy thing is that I used to consider myself liberal.
Posted by: IronBalls at November 11, 2008 1:53 PM
I really can't even believe you all are commenting on this.
You have to be a REAL idiot to claim that the falling stock market is being caused by the election of someone a week ago, who will not take office for another 2 months.
I mean, like brain dead ignorant.
Posted by: 11217 at November 11, 2008 2:03 PM
The majority votes for Bush and it's "patriotic", the majority votes for a black man and it must be "brain-washing"!
"If you don't believe in the Messiah..." - you mean the way the religious right supported Bush...
Whoa, this is some kind of crazy talk.
Posted by: cobblehiller at November 11, 2008 2:13 PM
"I mean, like brain dead ignorant."
I don't know...
This kind of stupid doesn't just happen through ignorance. This is the kind of stupid you have to work at.
This is the kind of stupid that needs 2.5 years of college and 4-6 years of talk radio.
This is the kind of stupid that pushes right through ignorance and out the other side into a whole wonderful imaginary world where actions and consequences do not have any relationship until a large fat white man spews a string of words between them to bind them together.
This is the kind of stupid only found where people are allowed to learn without being taught to think.
This is an evil kind of stupid. The kind that only recognizes power when it is used to destroy.
This is the kind of stupid that Ignore functions were created for on discussion boards around the internet.
Posted by: northsloperenter at November 11, 2008 2:29 PM
Did anyone else see that story in the Onion: "Obama refines message to exclude area loser...." ? I think this Ironbrains guy might be who they were talking about.....
Posted by: slopenick at November 11, 2008 2:39 PM
Bravo northslope bravo!
clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap clap
Posted by: cobblehiller at November 11, 2008 2:43 PM
The american auto industry really is embarrassing in its ineptitude. they've actively discouraged innovation even though new technology could boost sales. instead, they tried to boost sales w/ giant gas guzzling autos just like they did in the 70s.
Because a lot of the jobs for the auto industry are in the battleground states of the rust belt, obama cant just point out how terrible they've been.
Posted by: slick at November 11, 2008 2:45 PM
Slick,
While you are correct, how about we put some blame on the American consumers who bought these gaz guzzlers like they were giving away free bj's. How many of you drivers out there own cars that are not very fuel efficient. I'd say the majority.
Certainly the U.S. auto Industry is in a huge pickle and should have watched more closely to what Toyota and others were doing, but we need to start blaming ourselves also.
Americans have been GREEDY, overindulgent and downright stupid. It's time WE ALL do something to rectify that instead of the constant placing of blame onto others.
No one FORCED you to buy that SUV.
Posted by: 11217 at November 11, 2008 3:01 PM
Obama supporters unite! Call me names. Insult me. . .
THAT'S CHANGE WE CAN BELIEVE IN!
Obama transcends losers. . . that's for sure
Posted by: IronBalls at November 11, 2008 3:04 PM
Maybe we can blame Obama for Global Warming and the housing bubble collapse too, Ironballs?
The most idiotic part of your post is that you actually think the stock market should continue to go up as it has in perpetuity, along with home values, also I'm guessing.
The stock market was overvalued. It is now doing what it needs to be doing. The fact that you see that as a bad sign (despite the fact that some people are losing money) is really what I find so asinine.
The fact that you had zero input on what anyone said here and simply prefer to say your stupid little child like phrases is evidence of your extremely limited brain capacity.
Posted by: 11217 at November 11, 2008 3:10 PM
Try reason IronBalls.
Show me how the W has taken us to new and wonderful places in this country and out in the larger world. Show me how we are more productive and have more opportunities coming our way due to W's policy decisions. Show me how W has increased the stature and respect throughout the world for the USA. Show me how every American family is better off after 8 years of his failed economic policies. Show me how we are all benefiting from this great President Bush.
Try - lay it out for me.
Posted by: cobblehiller at November 11, 2008 3:14 PM
Nope,
But Obama obviously inspires ZERO confidence in the financial markets.
His agenda is to increase taxes on high earners and corporations, so he can give tax breaks to 95% of the populace..
Unfortunately, the biggest losers will be working folks whose retirement savings plummet as the stock market falls. . . not to mention the millions who will lose their jobs.
Obama will go down in history as a vote pandering politician who's actions turned the Bush Recession into the Great Obama Depression.
Posted by: IronBalls at November 11, 2008 3:17 PM
How did the Bush recession start, dear...do tell, I have a snack...I'm ready to sit and read a good story.
Posted by: cobblehiller at November 11, 2008 3:24 PM
Cobblehiller,
No President will take us to "new and wonderful places." That's something you can only achieve on your own. No government is going to achieve it for you.
The government does not provide opportunities. An open free market economy does. Obama's protectionist agenda will help a few unions, but hurt far more in terms of limiting overall job growth and economic expansion.
Who cares if hundreds of thousands of Germans cheer Obama? This country needs to remain the bastion of free capitalism, not become a pony show for some idealist's empty promises to the masses.
I'm better off than I was eight years ago because I've saved and lived frugally.
The average american family is doing fine. It's the ones who borrowed beyond their means that are in trouble.
You obviously blame Bush. I blame the individuals as well as the banks that gave them the loans.
Obama's tax and spend agenda will fuel economic mayhem, just like Greenspan's low interest rates and lax lending regulations fueled the housing bubble.
Posted by: IronBalls at November 11, 2008 3:29 PM
An open free market economy does: Ok, so...show me.
Who cares if hundreds of thousands of Germans cheer Obama? But you miss the point Iron Balls, the MAJORITY OF THE COUNTRY voted FOR Obama
I'm better off than I was eight years ago because I've saved and lived frugally. - Oh, I thought it was because you were such a rocket scientist in investing and because W deregulated and gave you and Wall Street so many opportunities to create new and important types of wealth that would trickle down and help all Americans. I guess you were wrong.
The average american family is doing fine. Wow, You are so out of touch, it's really impressive. You just keep right on living in that plastic bubble IB.
I blame Bush for not stopping it, and Greenspan and Paulson and the bankers that sold this crap.
Posted by: cobblehiller at November 11, 2008 3:45 PM
Amen, Northsloperenter. Amen! A very welcome change has come to America. Let's help the losers to get lost.
Posted by: Brooklynista at November 11, 2008 3:46 PM
"You obviously blame Bush." Furthermore...using this argument...how can you blame Obama?
Posted by: cobblehiller at November 11, 2008 3:47 PM
11217, I seriously doubt if the majority of Stoner's drive large SUVs. People in NYC (at least Manhattan / Brownstone Brooklyn)tend to be more politically aware. I've never had a truck and never will, and I've owned cars and motorcycles since I was old enuf to do so. That's over 35 years.
It's a damn shame that the auto companies are going to get bailed out, because they have the most incompetent management of any corporate sector going (well, maybe, the financials). The American auto worker has proven his worth in Spartansburg, Bowling Green, and any number of other assembly plants in the USA run by wiser foreign companies.
Nevertheless I suppose we'll have to do it, because the cost in lost jobs would be staggering. And retraining isn't the answer. There's not much left to retrain to.
Posted by: denton at November 11, 2008 3:55 PM
northsloperenter - will you be my new bff?
Posted by: SnarkSlope at November 11, 2008 4:13 PM
I've wondered what idiots outside the red-necked south actually voted for McCain - now I know it's people who are not only knee-jerk but jerks.
Posted by: Arkady at November 11, 2008 4:28 PM
Dag OP, you took all your money outta the stock market a few years ago and put it in real estate? How's that going for you? And you're worried about what Obama's gonna do? You got some special kinda stupid going on...better start worrying about yourself, man.
Posted by: basketball_jones at November 11, 2008 4:38 PM
That's right Arkady.
You're part of the CHANGE that's sweeping America!
Everyone else is a "jerk" except folks like me who see right through Obama and his sappy informercial.
After he decimate's the stock market further, raising corporate taxes to dump billions into failing union dominated industries, like the auto industry, we'll see how long it takes you Obamabots before you abandon your messiah.
The stock market since his election clearly predicts the utter failure of Obama's proposed agenda.
When the shit gets really bad and your neighbors are all out of work, will you still blame Bush because it makes you feel better?
Or will you blame Obama, the guy who killed our economy by raising taxes on businesses and the most financially successful among us at the start of the worst recession in recent history?
Posted by: IronBalls at November 11, 2008 4:40 PM
Basketball Jones,
No, I bought off the market rental buildings in good areas cheap that had been neglected and were full of low rent tenants, but had an enormous upside for renovated free market rentals.
Knock on wood. . . I've never overpaid for a building.
Maybe I've been lucky, but definitely not stupid.
Most of my real estate is completely paid off.
I'm not bragging, just responding to another Obamabot's baseless assertions.
Posted by: IronBalls at November 11, 2008 4:50 PM
Suck on my iron balls. Idiot.
Posted by: MAT at November 11, 2008 5:00 PM
MAT
Thanks for calling me an idiot.
That's Change we can believe in!
What other great ideas has your supreme leader, Obama, tought you?
Posted by: IronBalls at November 11, 2008 5:04 PM
At a base minimum, he wants us all to be able to spell taught...NOT "tought"
Posted by: BedStuyGal at November 11, 2008 5:16 PM
You bought a few years ago, top of the market. You overpaid. Don't believe me? Talk to What, he'll set you straight. "Obamabot", huh? Clever. Did you make that up yourself? Don't be pissed at me and the other folks on this board because you backed the losing horse.
Posted by: basketball_jones at November 11, 2008 9:12 PM
Wow I was real busy today! This post was claptrap...
Ironballs wants attention...
The What (No Comment)
Someday this war is gonna end...
Posted by: Return of The What at November 11, 2008 9:39 PM
What,
You're the Grand Master of craving attention, so you must be right.
Funny, I wouldn't have take you for an Obamabot.
Posted by: IronBalls at November 12, 2008 10:09 AM
The fawning of the mainstream media over Obama since the beginning of the primary season is clearly indicative that he is the chosen one -- of the globalist elites, i.e. the int'l financiers and the military/industrial complex. McCain was their back-up. But now they have "left-wing" cover to advance their sociopathic agenda of worldwide debt-slavery and high-tech totalitarianism. Everyone I know worships at the altar of their black jesus, all the while either ignorant or in disgusting states of denial of who really liquidated JFK, MLK, and RFK, and who orchestrated the atrocities of 9/11
So, if Obama is determined not to be an Uncle Tom -- if he stands up for we the people and against the fascist corporatocracy, he too will be liquidated, and a white-supremacist patsy will be their cover-story, their Oswald, their Atta, their Sirhan Sirhan
Posted by: simplicimus at November 13, 2008 6:35 AM
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