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Obama Reassures Us, Dow Immediately Plunges
Grand Rants ^ | 08-09-11 | Gerry Ashley

Posted on 08/09/2011 6:05:07 AM PDT by Stoutcat

There’s an old expression that goes, “It’s better to keep your mouth shut and have people think you’re a fool than to open it and remove all doubt.”

In what has to be seen as a defining moment in Barack Obama’s 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 & Poor’s downgrade of America’s 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 doesn’t 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 I’m 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 ...


TOPICS: Business/Economy; Government; Politics; Society
KEYWORDS: dowjones; downgrade; idiots; obama

1 posted on 08/09/2011 6:05:12 AM PDT by Stoutcat
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To: Stoutcat
Wifey was watching The One's speech yesterday...actually she was watching the Dow on the crawl below The One while listening to his blather.

The more he talked the faster the Dow fell.

2 posted on 08/09/2011 6:10:22 AM PDT by Bloody Sam Roberts (Be prepared. It's a hard rain's that's gonna fall.)
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To: Bloody Sam Roberts

Same here. It was frightening.


3 posted on 08/09/2011 6:13:40 AM PDT by Stoutcat (I aim to misbehave)
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To: Stoutcat
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.

Told ya...

http://www.freerepublic.com/focus/chat/2760518/posts?page=16#16

4 posted on 08/09/2011 6:16:56 AM PDT by 6ppc (It's torch and pitchfork time)
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To: Bloody Sam Roberts

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.


5 posted on 08/09/2011 6:27:58 AM PDT by cpdiii (Deckhand, Roughneck, Mud Man, Geologist, Pilot, Pharmacist. THE CONSTITUTION IS WORTH DYING FOR!)
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To: Stoutcat
obammie says the US is still a AAA+ country in his opinion. and the market still tanked?, shocked I tell you. shocked. gotta be racism/bush's fault/europes fault/obmma inherited the worst... fualt/congress's fault/medias fault/lousy weather's fault/ fault.
6 posted on 08/09/2011 6:43:41 AM PDT by tm61 (somewhere in chicago, a ward is missing it's crook)
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To: Stoutcat

Look at it the way they are looking at it: Obama created or saved 10,800 points on the DJIA yesterday....


7 posted on 08/09/2011 6:44:47 AM PDT by TexasNative2000 (The Tea Party didn't start the fire - they sounded the alarm!)
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To: Bloody Sam Roberts

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.


8 posted on 08/09/2011 6:46:27 AM PDT by nascarnation
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To: cpdiii

You’re a racist if you even have to ask! /snark


9 posted on 08/09/2011 6:49:26 AM PDT by Stoutcat (I aim to misbehave)
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To: Stoutcat

There was an article by Arthur Laffer in the WSJ last June predicting this.


10 posted on 08/09/2011 8:19:26 AM PDT by massgopguy (I owe everything to George Bailey)
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