As Usual, Obama Speaks, And Everything Turns To Shit

February 25th, 2009 (10) Posted By .

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Typically, when a bull artist speaks, his words will have the appeal of pander, but lack substance. In this case, toss in Leftist talking points, and what a wise man hears, will sound like nothing but a recipe for disaster.

Reuters:

Wall St. falls as Obama speech fails to spur

Stocks fell on Wednesday on disappointment President Barack Obama provided few new clues about how his administration would shore up the economy in a major speech before Congress.

Late on Tuesday Obama sought to reassure the country it would emerge stronger from the crisis but investors found little in his speech that could help the market hold onto its attempted rebound on Tuesday from 12-year lows.

The Dow Jones industrial average (DJI:^DJI – News) fell 38.95 points, or 0.53 percent, to 7,311.99. The Standard & Poor’s 500 Index (^SPX – News) was off 5.01 points, or 0.65 percent, to 768.13. The Nasdaq Composite Index (Nasdaq:^IXIC – News) was down 14.73 points, or 1.02 percent, at 1,427.10.

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  • Jarhead68

    Well, let’s see where it ends today, Pat. I’m not optimistic at all. Have you seen the latest Newsbusted video? One of the best yet. Here’s the embed code if you want to link to it:

  • Tennessee Volunteer

    Heres my two cents on this. The baby boomers generation influences most of the trends of our economy. Like myself, they already have pulled most of their money out of the market and have it sitting on the sideline. Many of them may be half rooting for Obama but they won’t put their money in until he begins to do adult like things such as;
    - not threaten higher taxes, and means it
    - reneges on the stimulus
    - has an adult like solution for the banks and mortgages.
    Of course, we aren’t seeing any of this so the market will continue to die on the vine because nobody with money trusts him, except for the few libs who stand to get rich on the countrys bad fortunes , which is very few people. Having said all of that, I am proud of my fellow citizens. “They get it”!
    Obama, Rahm and Gibbs don’t. they think they can whisper in our ear and a thrill will run up our leg. they better save that for chris Matthews.

  • sierrahome

    We may get a dead cat bounce starting about 3 hours into today…that’s just my guess.

  • Earlg

    technically, we should see a short-term rally.

    All else remains the same, it’ll be after a short-term rally when things will really turn to shit and quite possibly with the help of market vigilante’s – as during the 70′s/80′s with the bond boys. The market keeps dropping there’s going to be increasing pressure on Obummer to cut-the-commie crap, the big question becomes, ‘will he pull a Putin and shut the market down as it suits his political whim?’

    The lower this market goes, the shorter the fuse – just think of the upcoming hot summer days and hot humid nights.

  • German Dragon

    60+% of America is invested in Wall St. Wanna bet how they will be voting in 2010 and 2012?

  • prestonbrooks

    :mrgreen: You won’t have 2 years; within 18 mos. there will be no Congress or Supreme Court. Only Obama. Only Chavez. Only Castro.

  • http://tick-tick-booom.spaces.live.com ticticboom (Will Kill For The Constitution)

    After the initial crash in the fall, the market began rebounding.

    Until Election Day.

    I don’t think Wall Street really understood what was coming until they saw the acceptance speech in Chicago. They got it then, though, and every time Hussein or any of his Commisars open their mouths it’s driven home even further. Most Americans, including many who voted for him, get it now. Even the media is starting to get it.

    The best thing the government could have done was get out of the way, but that’s the one thing they’re incapable of.

  • Hawkerdriver(Piss on the Koran)

    :arrow: ticticboom,
    I agree with you BUT don’t see anybody except mabey Glen Beck in the media “getting it” yet.The MSM are the enablers of all this shit.They roll in it like the pigs they are.I thought Matt Lauer’s grin was going to wrap around his head this morning on GMA.Snarky little bastard,I bet he’de be first in line to give ofuck a reacharound :evil: .(I never watch that show but that’s what was on in the gym unfortunatly :mad: )

    I initiate conversation with people on the road all the time about the coup that is taking place at an almost hourly rate and no,they don’t have a clue what is going on.

    The rate that the commie-crats are importing”voters” into our system daily,makes US almost a SHRINKING number.We have our work cut out more than any of us know. I heard on Wilkow this morning that the dems have blocked the Republican bill to place a moratorium on the Fairness Doctrine nonesense.Now,by the end of March talk radio as we know it could dissapear.This is the largest coup in history and the sleeping giant is coatose and from what i can see intends to stay that way. :mad:

    God help us… :shock:

  • JI

    Its like Rush L. says. ob has the power to do whatever he wants, whenever he wants.
    Also Rush L. said if ob really cared about the stock market, he would do something about it. A dictator doesnt need a stock market.
    I work for a bank. What is going to kill the banks is the huge amount of deposits, being pulled out of them.
    People are cashing in CD’s, etc. and pulling all the money out of their accounts. Its too bad, because in a couple of months it will take a hundred dollars to buy a loaf of bread.
    Boy I sure wish I could ask them, if they voted for ob.

  • Sully

    On election day 2008 America opened one of those emails from Nigeria.