When Obama Speaks, the Market Tanks

[Mistermj]

When Obama Speaks, the Market Tanks
RED STATE
By Robert Bluey(Profile) on Wall Street

The best thing President Barack Obama can do for the economy is keep quiet. A day after delivering an address that won widespread praise from the chattering class, Obama's big-government policies were rejected by traders on Wall Street.

Wall Street's negative reaction to Obama is nothing new. Ever since Election Day, Obama's words have failed to inspire investors. "When the President speaks, the market listens … and crumbles," said Family Research Council chief Tony Perkins, who outlined the following pattern of the Dow's drop after notable Obama addresses:

* Nov. 5, 2008 (Wednesday after Election Day): -486 (5.0%)
* Jan. 9, 2009 (one day after Obama speaks at George Mason University on "need" for $800 billion stimulus package): -143 (1.6%)
* Jan. 20, 2009 (Inauguration Day): -332 (4.0%)
* Feb. 10, 2009 (one day after Obama declares that without a stimulus, "an economy that is already in crisis will be faced with a catastrophe"): -382 (4.6%)
* Feb. 17, 2009 (market opens for the first time after Congress passes $787 billion stimulus on Feb. 13; Obama signs bill into law, declaring, "The stimulus lets Americans claim destiny."): -298 (3.8%)
* Feb. 19, 2009 (one day after Obama announces potential mortgage relief plan): -90 (1.2%)
* Feb. 25, 2009 (one day after Obama's first speech to the full Congress): -80 (1.1%)

 

[3peet]

When Obama Speaks, the Market Tanks
RED STATE
By Robert Bluey(Profile) on Wall Street

The best thing President Barack Obama can do for the economy is keep quiet. A day after delivering an address that won widespread praise from the chattering class, Obama's big-government policies were rejected by traders on Wall Street.

Wall Street's negative reaction to Obama is nothing new. Ever since Election Day, Obama's words have failed to inspire investors. "When the President speaks, the market listens … and crumbles," said Family Research Council chief Tony Perkins, who outlined the following pattern of the Dow's drop after notable Obama addresses:

* Nov. 5, 2008 (Wednesday after Election Day): -486 (5.0%)
* Jan. 9, 2009 (one day after Obama speaks at George Mason University on "need" for $800 billion stimulus package): -143 (1.6%)
* Jan. 20, 2009 (Inauguration Day): -332 (4.0%)
* Feb. 10, 2009 (one day after Obama declares that without a stimulus, "an economy that is already in crisis will be faced with a catastrophe"): -382 (4.6%)
* Feb. 17, 2009 (market opens for the first time after Congress passes $787 billion stimulus on Feb. 13; Obama signs bill into law, declaring, "The stimulus lets Americans claim destiny."): -298 (3.8%)
* Feb. 19, 2009 (one day after Obama announces potential mortgage relief plan): -90 (1.2%)
* Feb. 25, 2009 (one day after Obama's first speech to the full Congress): -80 (1.1%)

This is so stupid. I watched Greta Van Susjackjaw yesterday on Fox talking about the market going down when he spoke yesterday. Obama spoke yesterday with a minute left to close showing the market going from -79 to -82 at the close. What slackjaw failed to note was the market started to slide in the final 30 minutes from positive territory.

why don't they talk about Obama's speech this morning at the market open? Obama starts his speech and the market was at +56.00. got up as high as +104. Obama finishes his speech market was at +82.00.

So now what?

 

[gtc08]

the market is what got us into trouble to begin with. the market going up or down means nothing when its run by crooks.

 

[D2bets]

Obama has done or said something every friggin day. Not to hard to cherry pick the bad market days, there are plenty of them.

 

[paftraft]

This Obama figure is admirable in a lot of ways. He speaks well, gets right to the point and has an uncommon way of getting his point across.
Aside from that his policies are so untraditional and more than likely counter productive. Many Pied Pipers have come down the pike like Obama but few have led the rats out of Hamlin.

Only the obvious failures of Bush and thus the tarnishing of the Republican brand could have swayed the country to putting their hopes
in the hands of this doctrinaire socialist. It's a pity.

Of all the blunders of Bush by far the worst was that his lowering the bar in the oval office paved the way for probably a more damaging four years than the last eight have been.

 

[tiznow]

unfortunately for obama the markets weren't pretty much already bottomed out when he came into office

like was the case with FDR

that makes his job a bit tougher

 

[Mistermj]

This is so stupid. I watched Greta Van Susjackjaw yesterday on Fox talking about the market going down when he spoke yesterday. Obama spoke yesterday with a minute left to close showing the market going from -79 to -82 at the close. What slackjaw failed to note was the market started to slide in the final 30 minutes from positive territory.

why don't they talk about Obama's speech this morning at the market open? Obama starts his speech and the market was at +56.00. got up as high as +104. Obama finishes his speech market was at +82.00.

So now what?

The Dow is now at -50 and sliding...LOL.

So now what? ;-)

 

[punter]

Yep! and the fish aren't biting damn his ass.

 

[brucefan]

For Immediate Release
Wednesday, February 25, 2009
Markets offer vote of no confidence in Obama spending spree

Stocks plunge in response to Obama address



WASHINGTON, D.C. -- America’s job creators offered the Obama administration’s economic plans another resounding vote of no confidence, with stocks plunging once again as President Obama refused to change the failed big-spending, big-government policies responsible for the current economic stagnation, Libertarian National Committee Communications Director Donny Ferguson pointed out Wednesday morning.
When markets opened after Obama’s economic address to Congress Tuesday night, the Dow Jones industrial average fell 90.64 points, or 1.23 percent, to 7,260.30. The Standard & Poor's 500 Index plummeted 9.41 points, or 1.22 percent, to 763.73. The Nasdaq Composite Index lost 16.26 points, or 1.13 percent, to 1,425.57.
“Each drop in the market represents real pain inflicted on working Americans by Obama’s dedication to policies that have been proven failures,” said Donny Ferguson, Libertarian National Committee Communications Director.
“Not only are they resounding votes of no confidence in Obama by the very people who create jobs, they are robbing Americans of their retirement savings and employment prospects.”
The stock market has lost more than 10 percent of its value since Obama took office, usually plunging on days when the administration announces more plans to make government bigger and more expensive.
“Americans are suffering through unemployment, underemployment, bankruptcy and foreclosure, and President Obama is adding to their pain by sticking with big spending that has never revived an economy. Americans don’t want welfare handouts financed by crippling tax hikes on their children, they want the kind of good-paying careers that only the free market can provide,” said Ferguson.
“Obama should stop exploiting our economic woes as a reason to expand government and make Americans dependent upon voting for him to put food on the table. Both Republicans and Democrats have put us in this situation by pushing bad home loans, racking up debt and regulating small employers out of business. The only prescription for economic recovery is tax relief for employers and taxpayers and to get the government out of the way of recovery,” said Ferguson.
“No nation has ever spent itself into prosperity. The Libertarian Party is the only party supporting the kind of fiscally responsible change America needs to empower employers and get our economy moving again,” said Ferguson.
For more information on this issue, or to arrange an interview with the Libertarian Party, please call Director of Communications Donny Ferguson at 202-333-0008, x. 225, or email Donny.Ferguson@lp.org.
The Libertarian Party is America's third-largest political party, founded in 1971 as an alternative to the two main political parties. You can find more information on the Libertarian Party by visiting www.LP.org. The Libertarian Party proudly stands for smaller government, lower taxes and more freedom.

<EMBED src=http://www.campaignforliberty.com/flash/banner.swf width=580 height=120 type=application/x-shockwave-flash allowscriptaccess="always" allowfullscreen="true">

 

[rolltide]

purely coincidence MJ

sort of like that crazy coincidence that within 5' of losing a bet you see the damn available balance drop on your account. two completely unrelated events

 

[doomsdaycult9]

unfortunately for obama the markets weren't pretty much already bottomed out when he came into office

like was the case with FDR

that makes his job a bit tougher

No this is nonsense..Its obama tanking the market. Its all his fault! he is hitler.. Obama Osama. Cant you see the connection there? He is the anti christ.

Its all his fault... things were ok when Bush was in power!

 

[rolltide]

No this is nonsense..Its obama tanking the market. Its all his fault! he is hitler.. Obama Osama. Cant you see the connection there? He is the anti christ.

Its all his fault... things were ok when Bush was in power!

a nearly perfect sheeple response!

1) avoid the issue by use of sarcasm
2) bring up George Bush

but you forgot #3 which is some sort of Joe the Plumber, Sarah Palin, or Halliburton reference

you really need to read Doc Mercer at eog as he'll teach you how to correctly form each forum response

 

[Mistermj]

When Obama speaks...Home prices crash as well.

All markets are voting "No Confidence" to Obama's plans.

The Census Bureau reported that the median price of new homes fell by 10.0 percent in January from December.

 

[3peet]

MJ whats the apartment complex you own worth now from last year?

 

[Mistermj]

MJ whats the apartment complex you own worth now from last year?

I'd estimate if I had to sell it right now...it would be 40% off its highs in 2006 or so....

Just from last year ...roughly 15-20% loss in value from 2008 to spring of 2009.

I had it for sale until late Fall. I know whats going on in the market. I didn't get an offer ...or even any walk throughs at 20% from its 2006 high.

I consider the 2006 high about 20% above its true value...so now its 20% below true value...in rough terms. I think thats fair.

 

[JudgeWapner]

Yeah I can't believe he hasn't turned things around in 1 month. Impeach him.

 

[punter]

No we cant, No we cant.

 

[tiznow]

I'd estimate if I had to sell it right now...it would be 40% off its highs in 2006 or so....

Just from last year ...roughly 15-20% loss in value from 2008 to spring of 2009.

I had it for sale until late Fall. I know whats going on in the market. I didn't get an offer ...or even any walk throughs at 20% from its 2006 high.

I consider the 2006 high about 20% above its true value...so now its 20% below true value...in rough terms. I think thats fair.

LOL the biggest housing bubble in american history and was only 20% overvalued at the peak

uumm....ok....

obviously talking about a specific property is a bit different

but overall the housing market was most overvalued in 2006 than it has ever been in american history

 

[Mistermj]

LOL the biggest housing bubble in american history and was only 20% overvalued at the peak

uumm....ok....

obviously talking about a specific property is a bit different

but overall the housing market was most overvalued in 2006 than it has ever been in american history

Tiz...this is upper Midwest...the heartland.

We never bounce as hard or get as crazy as the coasts.

You can still make a very very nice living here on $50,000 / yr....and buy a very nice house for $120,000...and only drive 5 minutes to work...and keep your doors unlocked at night.

It's a much different world than crazy Calif or Florida.

 

[tiznow]

Tiz...this is upper Midwest...the heartland.

We never bounce as hard or get as crazy as the coasts.

You can still make a very very nice living here on $50,000 / yr....and buy a very nice house for $120,000...and only drive 5 minutes to work...and keep your doors unlocked at night.

It's a much different world than crazy Calif or Florida.

upper midwest kinda screwed going forward as far as housing not really due to a bubble but rather due to auto/manufacturing industry going down the tubes as they are heavily unionized unlike the southland and abroad

if there ain't no jobs around there's no need for homes either