Posted on 11/19/2008 2:07:58 PM PST by kcvl
NEW YORK (AP) - Wall Street hit levels not seen since 2003, with the Dow Jones industrial average falling below the 8,000 mark, as the fate of Detroit's Big Three automakers and the economy disheartened investors. Stocks finished at their lows of the session after the automakers pleaded for relief during a second day of hearings in Washington. The heads of General Motors Ford and Chrysler are asking for a massive infusion of cash to prevent millions of layoffs and stave off bankruptcy.
(Excerpt) Read more at breitbart.com ...
Make that the Obama Depression. Deflation is the result of Obamanomics.
I think we will be very lucky if the recovery takes place during his administration. I'm not that optimistic.
The more I think about it, the more I believe Bush was out to sabotage McCain.
Paulson himself talked the markets down with his public panic attack.
McCain could never shake the market meltdown. He was up in the polls prior.
On Jan 21, 2001 the economy was all of a sudden terrible, and it was Bush's fault.
Applying the liberal principle, the economy is now Obama's fault. Period.
The left-wing media will pin the crash on Bush.
Bush destroyed the economy.
Obama is going to be sworn in - if he can prove he was in fact actually born in Hawaii and not Kenya - on January 20th.
By then, most of the damage will be done.
But but but but 95% of the Amurican peeps are to get a tax cut.
What is this tax increase stuff?
Does this mean the Obamanation's word can't be depended on?
Can Fed rates go negative? What will they do when it’s at zero?
Believe it corresponds to folks having to cash out their retirement earnings as well as companies abandoning 401k’s altogether.
“After considering it for several weeks, I got out of the market today. Moving my whole nest egg (whats left of it) to money market funds.”
Phased out myself starting in about April ‘08, completely out by August.
Since 95% of the people do not pay income taxes, it would be impossible to give them an income tax cut.
But, he repeated his lying “promise” over and over, and the media repeated it over and over, and people believed it.
They told us the market was dropping because the price of oil was rising.
Now the oil prices are dropping and they have a new excuse.
These wild swings in the market are the result of rampant short selling and speculation by the hedge fund managers and certain billionaires.
The problem is the “I got mine” class who supported Obama WANT high taxes.
Buffet who sells death tax insurance, WANTS the death tax.
Some of the other billionares were on CNBC saying tax increases on the rich were GOOD!
idiots.
The Hitler uni-testicle story had impact no doubt, but the faked moon landing revelation caused a dip in technology stocks as well.
I’m a hedge fund manager. See, me and the other guys who live out behind the hedges are going to “go long” on Gallo Vin Rose or MD 20/20. Our sales pitch is based on hope and change - “We hope you’ll give us some change”. I’ll let you know how it works out in case you want to get in on the action, OK?
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