Skip to comments.Obama Reassures Us, Dow Immediately Plunges
Posted on 08/09/2011 6:05:07 AM PDT by Stoutcat
Theres an old expression that goes, Its better to keep your mouth shut and have people think youre a fool than to open it and remove all doubt.
In what has to be seen as a defining moment in Barack Obamas failed presidency, the POTUS Ignoramus took to the airwaves today to reassure the American people that America is still doing well under his leadership, and that Standard & Poors downgrade of Americas credit rating was obviously a mistake.
The telling moment: Just after Obama suggested that the way to restore our credit rating and to overcome our debt problems is to spend more money on government projects, the Dow responded by dropping more than 100 points in just over a minute.
By 4PM the Dow had plunged a total of approximately 630 points for the day. NASDAQ lost 80 points. It was the first time The Dow-Jones had closed under 11,000 since October of 2010.
I guess that would make what we have left, Change we can live on? Too bad America doesnt have a Vote of No Confidence eh?
Of course, as Doug Powers points out at MichelleMalkin.com, the Democratic Ignorami quickly huddled and came out united behind a new talking points memo. Within minutes of each other, John Have I reminded you Im a Vietnam Veteran? Kerry, Howard Shriek Dean and David Axelrod all came out with press releases or public statements using the term Tea Party Downgrade...
(Excerpt) Read more at grandrants.wordpress.com ...
The more he talked the faster the Dow fell.
Same here. It was frightening.
The Dow tanked because we are spending to much and borrowing to much. The Tea Party wants less spending and less borrowing. How in the hell this the Tea Party’s fault.
Look at it the way they are looking at it: Obama created or saved 10,800 points on the DJIA yesterday....
Best viewed on Fox Biz
They have a small window of Baraq speaking - maybe 15% of the screen.
The rest of the screen is the plunging market indices.
You’re a racist if you even have to ask! /snark
There was an article by Arthur Laffer in the WSJ last June predicting this.