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satanica
07-23-2009, 04:05 PM
Bush watched the DOW fall from 14,000 to about 8100 when he handed it to Obama.

Obama then took action and slowed the dows fall, and then reversed it at 6500.

The republicans cried ..."Obama has destroyed 20% of the market"

The dow now tops 9000, and the GOP is still claiming the stimulus has done nothing.

Talismen
07-23-2009, 04:12 PM
http://townhall.com/blog/g/9e7b12a0-ffd0-43fd-9dd9-c079c58bae07
(snip)

Wednesday, November 19, 2008

President-elect Obama's Baseline, and His Silence On the Big 3 Bailout

Posted by: Hugh Hewitt at 8:59 AM


When Barack Obama was elected:
The inflation rate was 3.7%
Unemployment was 6.5%
The prime was at 4%
The Dow closed at 9,625
The NASDAQ closed at 1,780
The S&P closed at 1,005
Oil was $60 a barrel.
U.S. monthly domestic oil production: appx 155 million barrels
U.S. proven oil reserves: 21.3 billion barrels
U.S. offshore proven reserves: 3.9 billion barrels



These were the facts as polls closed on 11/4. His domestic success or failure should be measured against them.

noonwitch
07-23-2009, 04:14 PM
What were the facts on January 19, 2009? I believe Bush was in office until then.

BadCat
07-23-2009, 04:15 PM
Wow, 9000.

Sure am glad I saw this idiot coming and got out of the market when it was at 13400.

Now everybody, get ready for RAMPANT INFLATION, coming to your bank account soon.

asdf2231
07-23-2009, 04:16 PM
IIRC the Dow and the others started tanking right about the time the Libs chose Obama over Hillary as their candidate. And things really slid in the gutter when he got elected. It's a damn shame what this Obama Economy has done to our nation. :(

Talismen
07-23-2009, 04:19 PM
What were the facts on January 19, 2009? I believe Bush was in office until then.

Don't have 01/19/09, but there's this for 01/20/09:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aOYw.awwsNSg&refer=worldwide

U.S. Stocks Slide in Dow Average’s Worst Inauguration Day Drop

By Elizabeth Stanton


Jan. 20 (Bloomberg) -- U.S. stocks sank, sending the Dow Jones Industrial Average to its worst Inauguration Day decline, as speculation banks must raise more capital sent financial shares to an almost 14-year low.

State Street Corp., the largest money manager for institutions, tumbled 59 percent after unrealized bond losses almost doubled. Wells Fargo & Co. and Bank of America Corp. slumped more than 23 percent on an analyst’s prediction that they’ll need to take steps to shore up their balance sheets. The Dow’s 4 percent slide was the most on an Inauguration Day in the measure’s 112-year history, according to data compiled by Bloomberg and the Stock Trader’s Almanac.

“All the banks are going to have to recapitalize,” said Greg Woodard, portfolio strategist at Manning & Napier Advisors Inc., which manages $16 billion in Fairport, New York. “That’s not done. That’s in front of them, and we don’t want to try to get in front of that trade.”

The S&P 500 plunged 5.3 percent to 805.22. The S&P 500 Financials Index fell 17 percent to below its lowest closing level since March 1995 as concern European banks need more capital also weighed on the group. The Dow average slid 332.13 points to 7,949.09. Both the Dow and S&P 500 retreated to two- month lows.

The S&P 500 is off to its worst start to a year, shattering the biggest rally since World War II, as analysts cut earnings estimates by a record 83 percentage points and companies signal worse to come.

The S&P 500 is down 11 percent in the first 12 trading days of 2009, exceeding last year’s 9.2 percent drop, according to data compiled by Bloomberg going back to 1928. The decline helped erase more than two-thirds of a 24 percent rally since Nov. 20 as optimism that government spending would revive the economy evaporated.

‘Effectively Insolvent’

U.S. financial losses from the credit crisis may reach $3.6 trillion, according to New York University Professor Nouriel Roubini, who predicted last year’s economic and stock-market meltdowns.

“If that’s true, it means the U.S. banking system is effectively insolvent because it starts with a capital of $1.4 trillion,” Roubini said at a conference in Dubai today. “This is a systemic banking crisis.”

Europe’s Dow Jones Stoxx 600 Index retreated 2.1 percent today, led by banks and technology companies. It fell almost 2 percent yesterday after Royal Bank of Scotland Group Plc forecast the biggest-ever loss by a U.K. company. The MSCI Asia Pacific Index retreated 2.1 percent today.

Obama Sworn In

Barack Obama became the 44th U.S. president today, inheriting the most severe economic crisis since Franklin D. Roosevelt was sworn in 76 years ago. The turmoil has dragged the world’s largest economies into recession, caused more than $1 trillion of losses at financial institutions and prompted a sell-off in global stock markets.

Treasuries fell for a second day on speculation Obama will sell record amounts of debt to battle the recession. The dollar strengthened for a second day against the euro.

State Street lost $21.46 to $14.89 for the biggest drop in the S&P 500 and the stock’s steepest tumble since at least 1984. Unrealized losses on fixed-income investments rose to $6.3 billion at Dec. 31 from $3.3 billion at Sept. 30, the company said. Unrealized losses on assets held in conduits increased to $3.6 billion from $2.2 billion.

Bank of New York Mellon Corp., the world’s largest custodian of financial assets, fell 17 percent to $19, its lowest closing price since 1997.

Financials Tumble

Financial companies posted the biggest drop among the S&P 500’s 10 main industry groups as all 81 shares fell.

Wells Fargo, the largest bank on the U.S. West Coast, slid 24 percent to $14.23. Friedman Billings Ramsey Group Inc. analyst Paul Miller lowered his earnings estimates and price target, in addition to predicting a dividend cut.

Bank of America, the biggest U.S. lender by assets, fell the most in the Dow average, sliding 29 percent to $5.10. FBR’s Miller estimated Bank of America needs at least $80 billion of additional capital.

“You don’t want to be anywhere close to these common stocks because you don’t know how much new stock is going to be issued,” said Wayne Wilbanks, who oversees $1.1 billion as chief investment officer at Wilbanks Smith & Thomas in Norfolk, Virginia. “If one wants to invest in this space I would focus almost exclusively on the preferred shares,” he said, because that’s the same type of stock the government is purchasing.

The U.S. government has taken preferred equity stakes in at least 257 banks including Bank of America, Wells Fargo, Bank of New York and State Street since October under its Troubled Asset Relief Program aimed at stabilizing the banking system.

‘Aggregator’ Bank

Regions Financial Corp. fell 24 percent to an almost 24- year low of $4.60 after reporting a record fourth-quarter loss. JPMorgan Chase & Co. lost 21 percent to $18.09, the lowest since October 2002.

Obama’s advisers are considering options for dealing with troubled assets still clogging banks’ balance sheets, according to people familiar with the matter. Among alternatives: setting up a government-backed “bad” or “aggregator” bank to hold the securities, or leaving the assets on banks’ books and providing a government guarantee.

‘Atmosphere of Cynicism’

“The risk of investing in financials remains relatively high,” said Alan Gayle, senior investment strategist at RidgeWorth Capital Management in Richmond, Virginia. “There’s an atmosphere of cynicism and disbelief with regard to a lot of these turnaround stories.” RidgeWorth manages $70 billion.

Polo Ralph Lauren Corp. slid 9.4 percent to $37.25. Goldman Sachs advised selling the designer of the U.S. Olympics team’s official uniform as consumer spending shifts from “aspirational to desperational.”

Alcoa Inc., the largest U.S. aluminum producer, sank 11 percent to $8.35. Aluminum declined for the seventh straight day in London on speculation that demand will weaken as the housing slump worsens.

ralph wiggum
07-23-2009, 04:21 PM
President Bush also was in office when the Dow skyrocketed to over 14,000. I don't think he had a ton to do with it reaching that level, nor did he have much to do with it dropping. Neither does President Obama. Moving on...

BadCat
07-23-2009, 04:22 PM
IIRC the Dow and the others started tanking right about the time the Libs chose Obama over Hillary as their candidate. And things really slid in the gutter when he got elected. It's a damn shame what this Obama Economy has done to our nation. :(

Funny how when Bush was prez, blarch and his pals HATED the stock market - those evil capitalists ripping off the "truly deserving" people.

Now they LOVE the stock market.

Hey and notice I'm not out buying a bunch of stock...

satanica
07-23-2009, 04:30 PM
IIRC the Dow and the others started tanking right about the time the Libs chose Obama over Hillary as their candidate. . :(

Not true. Obama was nominated in August. The Dow tanked in early October, almost exactly when Bush signed his 700 billion dollar stimulus.

Look for yourself http://www.arturmarques.com/images/blog/20090101_dow_2008.jpg

The dow crashed 680 points days after Bush signed the bill, but you tell yourself what you have to.

http://www.google.com/search?hl=en&rlz=1T4GGIH_enUS287US287&q=dow+679&btnG=Search&aq=f&oq=&aqi=

I have posted links and sources, and as usual, you have nothing.

Molon Labe
07-23-2009, 04:33 PM
Bush watched the DOW fall from 14,000 to about 8100 when he handed it to Obama.

Obama then took action and slowed the dows fall, and then reversed it at 6500.

The republicans cried ..."Obama has destroyed 20% of the market"

The dow now tops 9000, and the GOP is still claiming the stimulus has done nothing.

Wow! Obama did this all by himself. Will you tell me another story. What did Obama do next?

satanica
07-23-2009, 04:40 PM
Wow! Obama did this all by himself. Will you tell me another story. What did Obama do next?

Then he did alot of things, including...

Getting Russia to allow over flights for our war in Afghanstan, something Bush couldn't do in 7 years.

Molon Labe
07-23-2009, 04:42 PM
Then he did alot of things, including...

Getting Russia to allow over flights for our war in Afghanstan, something Bush couldn't do in 7 years.

Oh....So the war in Afghanistan is now a good thing.

Liberal Math

GWOT + Afghanistan + Bush = Bad

GWOT + Afghanistan + Obama = Good


Tell me another story about Obama

Rebel Yell
07-23-2009, 04:44 PM
Come on everybody. Sing along!!!!!!!!


What would Barrack Obama do

If he was here right now,

He'd make a plan

And he'd follow through,

That's what Barrack Obama'd do.


When Barrack Obama was in the olympics,

Skating for the gold,

He did two sow cows and a triple lutz,

While wearing a blind fold.


When Barrack Obama was in the alps,

Fighting grizzly bears,

He used his magical fire breath,

And saved the maidens fair.


So what would Barrack Obama do

If he were here today,

I'm sure he'd kick an ass or two,

That's what Barrack Obama'd do.


I want this V-chip out of me,

It has stunted my vo-ca-bu-lar-y.


And I just want my mom

To stop fighting everyone


For Wendy I'll be an activist, too,

Cos that's what Barrack Obama'd would do.


And what would Barrack Obama do,

He'd call all the kids in town,

And tell them to unite for true

That's what Barrack Obama would do.


When Barrack Obama travelled through time

To the year 3010,

He fought the evil robot kings

and saved the human race again


And when Barrack Obama built the pyramids,

He beat up Kubela Kong.


Cos Barrack Obama doesn't take shit from an-e-y-body


So lets all get together,

And unite to stop our mom's

And we'll save Terrance and Phillip too,

Cos that's what Barrack Obama do.


And we'll save Terrance and Phillip too,

Cos that's what Barrack Obama dooooo,

That's what Barrack Obama do.

BadCat
07-23-2009, 04:44 PM
Then he did alot of things, including...

Getting Russia to allow over flights for our war in Afghanstan, something Bush couldn't do in 7 years.

You're saying the Russians are allowing US MILITARY aircraft to fly over their airspace?

Hope I'm never on one of those planes.

satanica
07-23-2009, 04:45 PM
Oh....So the war in Afghanistan is now a good thing.



It isn't a good thing, but it has to be done. I seem to remember the Democrats voting FOR the war in Afghanistan.

Where are you getting this math ?

satanica
07-23-2009, 04:46 PM
You're saying the Russians are allowing US MILITARY aircraft to fly over their airspace?

Hope I'm never on one of those planes.

Thanks for paying attention. I guess Hannity didn't bring this up.

http://www.google.com/search?hl=en&rlz=1T4GGIH_enUS287US287&ei=7ctoSpKSD4WwMOWjgNAM&sa=X&oi=spell&resnum=0&ct=result&cd=1&q=russia+overflights+afghanistan&spell=1

Molon Labe
07-23-2009, 04:50 PM
It isn't a good thing, but it has to be done. I seem to remember the Democrats voting FOR the war in Afghanistan.

Where are you getting this math ?

Why does it have to be done?

Lars1701a
07-23-2009, 04:51 PM
You know whats sad? everyone trying to persuade him.


He begs for something then you give it to him then he says what you provided is a lie so whats the point of doing it?

Rockntractor
07-23-2009, 04:51 PM
Come on everybody. Sing along!!!!!!!!
Catchy. I like it! What music do you use with it?

satanica
07-23-2009, 04:51 PM
Why does it have to be done?

The 9-11 attacks, perhaps you recall this event.

satanica
07-23-2009, 04:52 PM
You know whats sad? everyone trying to persuade him.


He begs for something then you give it to him then he says what you provided is a lie so whats the point of doing it?

Provide just one example of this.....

I predict nothing, balls in your court.

Molon Labe
07-23-2009, 04:54 PM
The 9-11 attacks, perhaps you recall this event.

Sorry my memories kinda fuzzy.
What about Iraq? How many attackers were Afghani?

BadCat
07-23-2009, 04:55 PM
Thanks for paying attention. I guess Hannity didn't bring this up.

http://www.google.com/search?hl=en&rlz=1T4GGIH_enUS287US287&ei=7ctoSpKSD4WwMOWjgNAM&sa=X&oi=spell&resnum=0&ct=result&cd=1&q=russia+overflights+afghanistan&spell=1

Like I said, hope I'm never on one of those flights.

Sounds like a good place to get an SA-13 up the ass.

satanica
07-23-2009, 04:56 PM
Sorry my memories kinda fuzzy.
What about Iraq? How many attackers were Afghani?

The Iraq war will wind down, our troops are clearing the cities and moving to the bases. The end is near.

Rebel Yell
07-23-2009, 04:56 PM
Catchy. I like it! What music do you use with it?

http://www.youtube.com/watch?v=pB-oiuPDnco

Lars1701a
07-23-2009, 04:57 PM
Provide just one example of this.....

I predict nothing, balls in your court.

Here you go


in reply to someone posting the truth this is your response:


"Your proof is a cut and paste from a unknown internet forum from an unknown internet author ?

You don't even link to where you pulled it from ?

Debate between you and I has ended."


it was a pdf of page 16 but since someone pwnd you you had to be a douche about it

Lars1701a
07-23-2009, 05:00 PM
Before the dems took over in 06



gas was somewhere around 2 bucks


the Dow was way over 10k


unemployment was around 5%


So Satanica the dems did something to screw it up


discuss what they did

Molon Labe
07-23-2009, 05:01 PM
The Iraq war will wind down, our troops are clearing the cities and moving to the bases. The end is near.


On numerous occasionions during President Obama's campaign he promised to withdraw two brigades per month, with all US combat troops out by 2009

wanna see video evidence of the lie?

Lars1701a
07-23-2009, 05:01 PM
wanna see video evidence of the lie?

He will just make some excuse or just ignore anything that goes against Obama.

satanica
07-23-2009, 05:05 PM
wanna see video evidence of the lie?

The facts changed and he listened to his generals on the ground, the withdrawl was delayed a bit.

This isn't a lie. The plan was modified.

Lars1701a
07-23-2009, 05:06 PM
The facts changed and he listened to his generals on the ground, the withdrawl was delayed a bit.

This isn't a lie. The plan was modified.

I told ya!!11!1!

Lars1701a
07-23-2009, 05:06 PM
The facts changed and he listened to his generals on the ground, the withdrawl was delayed a bit.

This isn't a lie. The plan was modified.

Same thing with club gitmo too?

satanica
07-23-2009, 05:13 PM
I told ya!!11!1!

Yep.

And Bush never ever would write a 700 billion dollar check to the banks when he so strongly believes in the free market.

But the situation changed, and he changed with the situation. Does that make Bush a liar ?

Bush said "no nation building" ...but the situation changed, and he changed his mind. Does this make him a liar ?

Lars1701a
07-23-2009, 05:16 PM
Yep.

And Bush never ever would write a 700 billion dollar check to the banks when he so strongly believes in the free market.

But the situation changed, and he changed with the situation. Does that make Bush a liar ?

Bush said "no nation building" ...but the situation changed, and he changed his mind. Does this make him a liar ?

Bullshit he had no intention of leaving Iraq, he said what he had to say to get saps like you to vote for him.

Again I dont like Bush so whats your point? we are talking about the Magic Negro he is the pres I am pretty sure Bush wont run again but if he did I am sure I would vote against him. ;)

But Obama was supposed to be a becon of light and truth why did he lie? lie about closing gitmo ASAP?

satanica
07-23-2009, 05:18 PM
Bullshit he had no intention of leaving Iraq, he said what he had to say to get saps like you to vote for him.

Again I dont like Bush so whats your point? we are talking about the Magic Negro he is the pres I am pretty sure Bush wont run again but if he did I am sure I would vote against him. ;)

But Obama was supposed to be a becon of light and truth why did he lie? lie about closing gitmo ASAP?

Looks like we can't have a debate.

Obama lies, and Bush changes his mind.

*yawn*

Lars1701a
07-23-2009, 05:19 PM
Why is he dragging his feet on closing Gitmo?


Why is he not pushing for more nuclear power plants?


Why did he lie about rasing taxes on people making less then 250k? (cap and trade is a tax that would be borne on the backs of the lower and middle class)

please discuss

Lars1701a
07-23-2009, 05:22 PM
Looks like we can't have a debate.

Obama lies, and Bush changes his mind.

*yawn*

I am not into having a debate with you, bush is the past the magic negro is teh present.


Bush did some dumb things but Obama was supposed to tell the truth and have a transparent adm. I am not really seeing it.

lacarnut
07-23-2009, 05:24 PM
Bullshit he had no intention of leaving Iraq, he said what he had to say to get saps like you to vote for him.

Again I dont like Bush so whats your point? we are talking about the Magic Negro he is the pres I am pretty sure Bush wont run again but if he did I am sure I would vote against him. ;)

But Obama was supposed to be a becon of light and truth why did he lie? lie about closing gitmo ASAP?

Obama has lied so many times, it is hard to keep track of all of them from Gitmo, to unemployment, the stimulus bill, to the economy, to the 100 million in Admin. cuts of all agencies, to transparency, to lobbyist being banned in his Admin., etc. This turkey makes Bubba Bill look like a piker.

Lars1701a
07-23-2009, 05:28 PM
Come on answer guy I asked 3 very important questions, try to answer them if you are an honest debater.

Molon Labe
07-24-2009, 11:30 AM
Yep.

And Bush never ever would write a 700 billion dollar check to the banks when he so strongly believes in the free market.

But the situation changed, and he changed with the situation. Does that make Bush a liar ?

Bush said "no nation building" ...but the situation changed, and he changed his mind. Does this make him a liar ?

I guess if what Obama is doing makes him the savior of the Iraq deboggle and the GWOT, then we need to rewrite history cause that makes what Nixon did after the election the savior of the Vietnam war.......you moron.:rolleyes:

satanica
07-24-2009, 11:48 AM
I guess if what Obama is doing makes him the savior of the Iraq deboggle and the GWOT, then we need to rewrite history

Who ever made such a claim ?

I notice you read things that are simply not there.

Can you link to the quote ?

Molon Labe
07-24-2009, 11:50 AM
Who ever made such a claim ?

I notice you read things that are simply not there.

Can you link to the quote ?

That's the same b.s. Nixon gave for not immediately withdrawing from Vietnam. I can't teach you to make valid associations and interpret history correctly.

satanica
07-24-2009, 11:55 AM
That's the same b.s. Nixon gave for not immediately withdrawing from Vietnam. I can't teach you to make valid associations and interpret history correctly.

Who said this... "the savior of the Iraq deboggle"

Besides you ?

Thats what I thought.

Molon Labe
07-24-2009, 12:12 PM
Who said this... "the savior of the Iraq deboggle"

Besides you ?

Thats what I thought.

Err' the people who voted for him did dickmunch. You have a short attention span.


http://www.youtube.com/watch?v=4WYTKj8pU5M