Community | August 04, 2011 | 18 comments

Obama Talks the Market Drops. God Save America

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congoboy
NEW YORK (CNNMoney) — Poof! There goes any progress stocks made in 2011.

Stocks plunged Thursday, with the Dow tumbling 400 points to hit its lowest level since December, as global economic fears gripped the market.

U.S. markets were already sharply lower on widespread worries, including the weak job market. But the selling gained momentum as Japanese and European policymakers stepped in with dramatic measures to shore up their financial markets.

There’s “total fear” in the market, said Bob Doll, chief equity strategistat the world’s largest money manager, BlackRock.

All three major indexes tumbled more than 3% Thursday and erased all their gains for the year. The indexes have also pushed into ‘correction’ territory – defined as a 10% drop from their highs earlier this year. Over the past 10 days alone, the Dow, S&P 500 and Nasdaq have dropped more than 8%.


Read more: http://dailycaller.com/2011/08/04/stock-market-drops-all-gains-made-in-2011/#ixz...
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18 comments // Obama Talks the Market Drops. God Save America

  • COMMONSENSEFORCOMMONGOOD_COM
    • -1
      COMMONSENSEFORCOMMONGOOD_COM  

    • yeah! Obama gives it up to the corporate right, and then the corporate right goes ahead with the plan they've had for the day after the debt crisis, to trash the market so they can once again come in after and buy it all up cheap. It's the cyclical reaping of the harvest from the seeds of fraud which they seasonally sow. They get a double benefit now, because they can keep the market in the tank until after they get the black man out of the Oval Office. So while I agree with you that the economy is in the tank, I have sympathy for you that you might not actually have a clue about the systematic and organized ravaging of the market by market makers. Of course, I allow for the possibility of your customary disingenuousness, and I write this in lieu of something far more appropriately vitriolic.

    • 10 months ago
  • JohnA
  • COMMONSENSEFORCOMMONGOOD_COM
  • congoboy
    • 0
      congoboy  
    • COMMONSENSEFORCOMMONGOOD_COM:

      no one cares about a black man in office, we just care about the wrong man in office. its the left thats so fixated on the illusion that folks on the right dont like a black man in office. sure youve got some racists gnashing their teeth but they are a minority, sorta like the progressives. the obama administration is destroying america, he nearly doubled the u.s. debt in two years, nearly 10% unemployment a shitty economy due to his lack of experience and ability to run a country. its not about color its about lack of character and a bunch of really bad ideas. i am not discounting the market manipulation by the power brokers but there is more to a market than just a few rich fat cats.

    • 10 months ago
  • congoboy
  • COMMONSENSEFORCOMMONGOOD_COM
    • 0
      COMMONSENSEFORCOMMONGOOD_COM  
    • congoboy:

      It only takes the right one fat cat to turn the market upside down, and you represent hundreds of them. You seem to be intent on keeping your head in the sands of denial that your men fucked the economy and are still doing so. The economy was ruined while Obama was still running for office. The nation's public wealth had already been transferred to WAR PROFITEERS while Obama was running for office. Once the money is spent; which virtually all of it was from the average taxpayers, it's gone. That was your homie's plan. It wouldn't matter what person was president, they all have to dance to the criminally militant corporate and banking cartels tune.

    • 10 months ago
  • COMMONSENSEFORCOMMONGOOD_COM
  • congoboy
    • 0
      congoboy  
    • COMMONSENSEFORCOMMONGOOD_COM:

      lots of low and middle class america have 401 k's and similar programs which rely on stock market investing and returns. so yes the market does affect plenty of ordinary folks and their ability to survive after retirement as well as those who have the money to invest in job creation to keep the best country in the world healthy and productive. peace

    • 10 months ago
  • congoboy
    • 0
      congoboy  
    • Image
    • COMMONSENSEFORCOMMONGOOD_COM:

      like the billions spent by your brother obama on a stimulus plan that did absolutely nothing to help the economy recover? Dont forget he's nearly doubled u.s. debt in only two years, because of bush? get real...Expect to hear a lot about how much the Iraq war cost in the days ahead from Democrats worried about voter wrath against their unprecedented spending excesses.

      The meme is simple: The economy is in a shambles because of Bush's economic policies and his war in Iraq. As American Thinker's Randall Hoven points out, that's the message being peddled by lefties as diverse as former Clinton political strategist James Carville, economist Joseph Stiglitz, and The Nation's Washington editor, Christopher Hayes.

      The key point in the mantra is an alleged $3 trillion cost for the war. Well, it was expensive to be sure, in both blood and treasure, but, as Hoven notes, the CBO puts the total cost at $709 billion. To put that figure in the proper context of overall spending since the war began in 2003, Hoven provides this handy CBO chart showing the portion of the annual deficit attributable to the conflict:
      But there is much more to be said of this data and Hoven does an admirable job of summarizing the highlights of such an analysis:

      * Obama's stimulus, passed in his first month in office, will cost more than the entire Iraq War -- more than $100 billion (15%) more.

      * Just the first two years of Obama's stimulus cost more than the entire cost of the Iraq War under President Bush, or six years of that war.

      * Iraq War spending accounted for just 3.2% of all federal spending while it lasted.

      * Iraq War spending was not even one quarter of what we spent on Medicare in the same time frame.

      * Iraq War spending was not even 15% of the total deficit spending in that time frame. The cumulative deficit, 2003-2010, would have been four-point-something trillion dollars with or without the Iraq War.

      * The Iraq War accounts for less than 8% of the federal debt held by the public at the end of 2010 ($9.031 trillion).

      * During Bush's Iraq years, 2003-2008, the federal government spent more on education that it did on the Iraq War. (State and local governments spent about ten times more.)

      Just some handy facts to recall during coming weeks as Obama and his congressional Democratic buddies get more desperate to put the blame for their spending policies on Bush and the war in Iraq. For more from Hoven, go here.

      Read more at the Washington Examiner: http://washingtonexaminer.com/blogs/beltway-confidential/little-known-fact-obama...

    • 10 months ago
  • congoboy
  • COMMONSENSEFORCOMMONGOOD_COM
  • COMMONSENSEFORCOMMONGOOD_COM
    • 0
      COMMONSENSEFORCOMMONGOOD_COM  
    • Image
    • congoboy:

      "The Washington Examiner is a free daily newspaper published in Springfield, Virginia, and distributed in the Washington, D.C. metropolitan area. It is owned by Denver billionaire Philip Anschutz.[2]"

      "Who is Anschutz? More than just a businessman, that's for sure. He's active in Christian fundamentalist and Conservative political causes, including funding a campaign to support Amendment 2, Colorado's 2006 ballot initiative to overturn gay rights, the Institute for American Values, the Center for Marriage and Families, and Morality in Media.

      Invariably described as "secretive" or "reclusive" in the press, he is nonetheless involved in media. He just bought the Weekly Standard for a reported $1 million from Rupert Murdoch's News Corporation, which funded the small—but for a time, highly influential—conservative magazine since 1995. Add this to his other conservative media holdings, which includes the Washington Examiner, a free tabloid, and the 101 locally targeted Examiner-branded sub-sites and it's no wonder Forbes described Anschutz as "The Stealth Media Mogul."

      That's one of the nicer things that has been publicly said about the 69-year-old mogul. Fortune once called him America's "greediest executive,"

      Read more: http://www.portfolio.com/companies-executives/2009/08/07/who-is-philip-anschutz-...

      You can't game me, you best go back to the Congo boy! You have the audacity of suggesting the trolling and shilling for the likes of Anschutz is "honest work"? Only the self deluded sociopaths could.

    • 10 months ago
  • COMMONSENSEFORCOMMONGOOD_COM
  • congoboy
    • 0
      congoboy  
    • COMMONSENSEFORCOMMONGOOD_COM:

      well i guess if you take into account those who are currently unemployed because of poor fiscal management, the lack of regard for the common folks, and inexperience at running a country that your president has thrust upon the avrage american as being the ones that "used to be" then you have a point. but most of thoses who are still working who had 401k and other retirement benefits before obamas failed social experiment are seeing it dwindle right along side the fat cats who manipulate the market. the thing is even when the market is being manipulated most folks prosper. so you and your mislead uneducated progressive friends can either join the rest of the majority that want to see the country prosper again or go hide in a cave because for the most part even with all its flaws most of us prefer america the way it used to be and thats mr. troll to you lackofsense

    • 10 months ago
  • congoboy
  • COMMONSENSEFORCOMMONGOOD_COM
    • 0
      COMMONSENSEFORCOMMONGOOD_COM  
    • congoboy:

      LOLOL..., at least u are adroit enough to make me laugh occasionally. In the vein of arguing with an insane person being even more insane, it's really pointless to debate you, because you abandon facts for the ease of fiction. You might be an enjoyable person outside of the political arena, but your aversion to reality makes your assertions nonsensical. My response to your initial comments were for the benefit of those looking on, and I do believe that most of them see your posts as mere marketing. If you were sincere about them you wouldn't be marketing them here. It's by virtue of this fact that declares you're trying to make a living here, "honest" or otherwise. But I have real fish to fry. Bye.

    • 10 months ago
  • congoboy
    • 0
      congoboy  
    • COMMONSENSEFORCOMMONGOOD_COM:

      just be sure george soro's and al gore are thrown into the pan as well, yum yum! dont be so blind as to believe all of those who claim to represent the "people" are altruistic with only your best interests at heart. beware of prophets seeking profits. my mission here is only to expose people to realities that they are either ignorant to or choose to ignore. as is the case with other posts on here sometimes those realities may or may not contain truth but if i post something untrue it is not my intent to mislead, it is that i may have been mislead myself. there are those in all partys of the political arena who make a living out of misleading and intentionally confuse the sheep, but that is not my game. when i am proven wrong i am willing to admit it but it takes more than someone elses rhetoric to change my mind. i am not trying to make a living here, i just come for the food, and what does sincerity or the lack there of have anything to do with marketing and where one might post? we both have our strong beliefs but what makes yours or mine right or wrong? its all really very subjective my friend. la chaim!

    • 10 months ago
  • congoboy
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