Posted on 03/05/2009 11:38:53 AM PST by Rufus2007
Finally after five straight down days for the Dow Jones Industrial Average (DJIA), it rallied back 149 points to finish at 6,875 on March 4. But it picked right back up today and continued to fall.
What's holding it back? CNBC "The Kudlow Report " host Larry Kudlow had Jeff Macke, founder and president of Macke Asset Management on his March 4 program and asked if the rally, along with other indicators might be signs of a recovery. Macke, a co-host of CNBC's "Fast Money" said he wasn't impressed and blamed President Barack Obama.
"It would if not for an administration that has created a country full of 330 million people who all want to make $249,000 a year, less they want to become one of the ‘wealthy,' who apparently the government hates," Macke said. "If this administration can get their act together and be pro-business to support the idea of success instead of penalizing it - that would be one thing that would get me excited."
...More (w/video)...
(Excerpt) Read more at newsbusters.org ...
Since its nomination: The DOW has actually lost 7,000 points.
Why only the “2000 point loss” that NBC claims?
Communists don't want to see Capitalists make money. Only political expediency will force 0bama to let the Dow rally.
Jeff Macke and Guy Adami on Fast Money are the only good thing on CNBC and Santelli.
The market started going down in June 2008 when Hillary had the nomination stolen from her.
As long as the Media continues to prop up Obama, he’s going to continue the destruction of capitalism.
Sir Engineer, I believer your tagline answers your question.
They’re looking for future jobs when Hussein nationalizes the Media.
And it’s not just “people” who want to make $249,000 a year and no more; it’s “wives and husbands” who each want to make no more than $124,000 a year.
This is a serious hit on the producer class.
My guess is that they are accounting for the Subprime unwinding and other factors that were already in play. I don’t think there was ever a question that the market was due for some rough weather. These guys are just saying that the 0 is making things worse, to the tune of 2000 points.
>> What’s holding it back?
A better question might be: what’s keeping it THIS high?
Should fall farther. Followed in short order by real estate prices — through the floor. Commercial, residential, rural. All of it.
The gold bubble will pop, too.
Despite their decreases to date, all of these asset classes are still greatly overpriced.
Nonsense. How could the Dow drop 7000 points, It is at 6,625 now. When was it 13,625?
I think he means that the market would be 2000 higher than it is today without Obama being a moron.
The gap between 9000 and 14000 is cheap credit funny money that was destined to die no matter how conservative the new president.
The drop below 8000 can be attributed to Obama.
Obama has a whole slew of outrageous plans. And imagine that with all these new taxes in the trillions, he is proposing CUTTING medicare benefits?
A simple bold suggestion is Just Leave It Alone! All this nonsense proposed by Obama is unecessary and destructive.
You know, it’s pathetically tragic what being a “Democrat” has become. All of these stupid Dems were waiting for their second coming of FDR, and all they get is Jimmy Carter dipped in chocolate botox.
The Democrats in office do not have the ability to comprehend even the most basic aspects of capitalism. There was a time when they had a basic understanding, but now, they don’t have a clue, and for that they let a malicious homo-fascist in Obama convince them he could fix it all. The blind and cruel leading the blind and hopeless.
Last spring, when O locked up the nomination in the delegate count, the Dow was around 13K.
Nonsense. How could the Dow drop 7000 points, It is at 6,625 now. When was it 13,625?
...7 months ago.
May 19 2008 Dow 13,028 so hes off by a few points
Look at the chart. June 2008 or maybe May 2008. Hillary was out and that is when it all started. Yes around 13,500 or so.
I hate Hillary but the markets could have lived with McCain or Hillary. The markets knew Obama is a marxist.
Nevertheless, it was still a little above 13,000 as recently as May of last year.
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