Obama Stock Market Part Deux

[89Hen]

Off another 400+ today, and bank stocks (Citi, BAC) are really taking it in the cojones.

Thanks, President Bush and the lack of regulation!

FTFY


This has been years in the making...

And there it is.

[blueballs]

Hey D-Back... you know who's really escaping accountability here?

Geithner.

He was Governor of the NY Fed during the MBS fiasco, Bear & Merrill's collapse, and the default swap clusterfuck that led to the insanely expensive AIG bailout... all the major banks, bond traders and broker houses were under his watch.

He also was a proponent and player in the TARP fiasco, where the major banks took the money, bought US Treasury Bonds to shore up their balance sheets (which boosted their stock prices and they made a boatload of $$$$), and never loaned the money out as the government had intended (but didn't expressly require).

However, despite this track record of gross incompetence, Obama chose to make him Secretary of the Treasury, which further demonstrates Obama's absolute cluelessness. Regardless, Geithner has authored real damage to all of us and has largely escaped scorn.

I won't even get into Bernanke, who has been an absolute trainwreck as Fed Chair...

[Ivytalk]

Hey D-Back... you know who's really escaping accountability here?

Geithner.

He was Governor of the NY Fed during the MBS fiasco... all the major banks were under his watch. He also was a proponent and player in the TARP fiasco, where the major banks took the money, bought US Treasury Bonds to shore up their balance sheets (which boosted their stock prices and they made a boatload of $$$$), and never loaned the money out as the government had intended (but didn't expressly require).

However, despite this track record of gross incompetence, Obama chose to make him Secretary of the Treasury, which further demonstrates Obama's absolute cluelessness. Regardless, Geithner has authored real damage to all of us and has largely escaped scorn.

I won't even get into Bernanke, who has been an absolute trainwreck as Fed Chair...

And, despite that woeful track record, Geithner -- who bears an uncanny resemblance to the white bad guy (there was a black one, too) in Ghost -- agreed to Obama's pleas to stay on for the rest of the term!

[dbackjon]

FTFY


This has been years in the making...

Really, Jon?

This is a direct response to the debacle of gov't we've seen in the last 3 weeks. Any attempt to spin to the contrary is truly laughable.

The downgrade/subsequent crash is directly tied to Tea Partiers threats, for the first time in history, to allow the US to default.

the deficit debacle has been years, if not decades in the making.

[travelinman67]

Really, Jon?

This is a direct response to the debacle of gov't we've seen in the last 3 weeks. Any attempt to spin to the contrary is truly laughable.

The downgrade/subsequent crash is directly tied to Tea Partiers threats, for the first time in history, to allow the US to default.

One of the most flawed "ergo hoc propter hoc" statements ever made.

Unbeknownst to you, jon...

...it's directly tied to the repeal of Don't ask, don't tell.




[youtube][/youtube]

[Ivytalk]

Federal Reserve predicts two more years of economic weakness, leaves interest rates the same.

Morning market rally fizzles out.

Thank you, President Obama!

[Ivytalk]

325 down as of 1:20 p.m. The "relief rally" was short-lived. Let's see if the market's volatile enough to end the day in the black. I doubt it.

Thanks again, BHO! We're all behind ya!

[AZGrizFan]

Down 430 right now.

Nice performance by Obama here...

[89Hen]

Damn Obama.

[AZGrizFan]

Damn Obama.

Now down over 500.

[BDKJMU]

Closes -519.83

FU Obama.

[BDKJMU]

So the market has been down what, 12 of the last 15 days?

Last 7:
Tues, 8/2: -265.87
Wed, 8/3: +29.82
Thur, 8/4: -512.76
Fri, 8/5: +60.93
Mon, 8/8: -634.76
Tues, 8/9: +429.92
Today: -519.83, closing at 10,719.94

So thats down 1412 in the last 7 sessions.....

[houndawg]

Amazing. Play a suckers game and surprised when you lose.

[BDKJMU]

Well, was up last 2 sessions of last week & Mon. Today, -487 to close 10,922.

Meanwhile:

"Jobless Claims in U.S. Top Forecast

More Americans than forecast filed applications for unemployment benefits last week, signaling the labor market is struggling two years into the economic recovery.
Jobless claims climbed by 9,000 to 408,000 in the week ended Aug. 13, the highest in a month, Labor Department figures showed today in Washington. Economists surveyed by Bloomberg News projected a rise in claims to 400,000, according to the median forecast. The number of people on unemployment benefit rolls rose, while those receiving extended payments fell......"
http://www.bloomberg.com/news/2011-08-1 ... 8-000.html" onclick="window.open(this.href);return false;

"Morgan Stanley slashed its global growth forecast for 2011 and 2012, saying the U.S. and the euro zone were "dangerously close to a recession", and criticized policymakers in Washington and Europe for not acting more decisively to contain the sovereign debt crisis......."
http://www.cnbc.com/id/44186209" onclick="window.open(this.href);return false;

Meanwhile Obama says he's too busy vacationing in Martha's Vineyard to release his jobs plan....

[89Hen]

Amazing. Play a suckers game and surprised when you lose.

You keep saying that, but my 401k is doing just fine. Maybe not the past two weeks, but I'm not a day trader. Give it a rest.

[bulldog10jw]

You keep saying that, but my 401k is doing just fine. Maybe not the past two weeks, but I'm not a day trader. Give it a rest.

If you kept buying as the market was heading south in 2008 and 2009, you bought a lot of cheap shares and should be doing fairly well.

[89Hen]

You keep saying that, but my 401k is doing just fine. Maybe not the past two weeks, but I'm not a day trader. Give it a rest.

If you kept buying as the market was heading south in 2008 and 2009, you bought a lot of cheap shares and should be doing fairly well.

Yup. The funny thing is I don't think houndawg has any money to begin with, so for him to constantly bitch about the stock market is rather comical.

[Grizalltheway]

If you kept buying as the market was heading south in 2008 and 2009, you bought a lot of cheap shares and should be doing fairly well.

Yup. The funny thing is I don't think houndawg has any money to begin with, so for him to constantly bitch about the stock market is rather comical.

Careful, your elitist is showing.

[Skjellyfetti]

Seriously... the stock market drops at the beginning of last week. Thread inevitably gets bumped by BDK.

Late last week, early this week it regains all of those losses.

Thursday of this week... Market tanks. Thread inevitably gets bumped by BDK.


And the Conks will cry like babies if I say BDK is hoping the market fairs poorly until after 2012.

[TheDancinMonarch]

Seriously... the stock market drops at the beginning of last week. Thread inevitably gets bumped by BDK.

Late last week, early this week it regains all of those losses.

Thursday of this week... Market tanks. Thread inevitably gets bumped by BDK.


And the Conks will cry like babies if I say BDK is hoping the market fairs poorly until after 2012.

This is wealth that is being lost. I have heard that so far it is over $2 trillion lost. This is money that you want to tax. And if you do you should have a little less cavalier attitude towards such a loss.

[GannonFan]

If you kept buying as the market was heading south in 2008 and 2009, you bought a lot of cheap shares and should be doing fairly well.

Yup. The funny thing is I don't think houndawg has any money to begin with, so for him to constantly bitch about the stock market is rather comical.

I feel bad for houndawg - while my 401k has soared over the past few years he's still hoping his land purchases pan out for him. It's a shame for him, really.

[89Hen]

Yup. The funny thing is I don't think houndawg has any money to begin with, so for him to constantly bitch about the stock market is rather comical.

Careful, your elitist is showing.

Nah. Just stating facts.

[BDKJMU]

Seriously... the stock market drops at the beginning of last week. Thread inevitably gets bumped by BDK.

Late last week, early this week it regains all of those losses.

Thursday of this week... Market tanks. Thread inevitably gets bumped by BDK.


And the Conks will cry like babies if I say BDK is hoping the market fairs poorly until after 2012.

Hey douchebag, I'm heavily invested in the market (a Roth & brokerage account with Wells Fargo, and a 401-k equivalent) so it does me no good to see the market perform poorly. That would be like cutting off the nose to spite the face.

The only silver lining to the market doing poorly is it hurts BHO's election chances.

[Skjellyfetti]

Hey douchebag, that still doesn't explain why you never bump these threads when the market does well. You'd think that since you are heavily invested in the market (a Roth & brokerage account with Wells Fargo, and a 401-k equivalent) you'd be pretty happy when the market does well. But, no... every silver lining's got a touch of grey.

[AZGrizFan]

Hey douchebag, that still doesn't explain why you never bump these threads when the market does well. You'd think that since you are heavily invested in the market (a Roth & brokerage account with Wells Fargo, and a 401-k equivalent) you'd be pretty happy when the market does well. But, no... every silver lining's got a touch of grey.

That's your job.