CNBC's Macke: Obama Holding Dow Back 2,000 Points as Markets Sag

NewsBusters ^ | March 5, 2009 | Jeff Poor

[Frantzie]

Macke is no dummy. He has his BA from Dartmouth and his MBA from Stanford. He and Guy Adami on Fast Money are a hoot and they know their stuff.

[Flavious_Maximus]

The thing that should pop is GOVERNMENT SPENDING!

[freedumb2003]

>>Nonsense. How could the Dow drop 7000 points, It is at 6,625 now. When was it 13,625?

May, 2008, the DJIA was at 14,164.

It began falling the moment the new fuhrer looked like he could win.

[Texas Fossil]

There will be no recovery until Obozo is out of office.

NO RECOVERY, NONE until he is out of office.

[library user]

Here's a chart for you. Look closely. The DOW was around 12,500 when Obama got the nomination. It's now around 6,600 (close to 50 percent of wealth wiped out in just 9 months).

[Red in Blue PA]

What nonsense.

Obama is not doing anything positive for the markets, but the last time the Dow was at 14,000 was in the fall of 2007.

[Major Matt Mason]

"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."

Um, they do have their act together - the Obamination has this country on a glide path to socialism. That is what they want. For him to say anything else would be disingenuous. He is doing exactly what he said he would do.

[NVDave]

Since the just before Obama took office.

In the time that Obama has been in office, the market is off from 7949 (closing DJIA on 1/20) to what looks like it will be a close in the 6600+ area today.

The loss since last summer into November - that’s the banking system collapse. Much of that selling was huge short positions being laid on and huge fear being generated.

[Red in Blue PA]

“May, 2008, the DJIA was at 14,164.”

Get your facts straight please. You are over 1,000 points off.

http://finance.yahoo.com/q/hp?s=%5EDJI&a=02&b=1&c=2008&d=05&e=5&f=2008&g=d

[Major Matt Mason]

Macke is no dummy. He has his BA from Dartmouth and his MBA from Stanford.

This is not exactly a badge of honor these days. It is the supposed "best and brightest" that have gotten us into this mess in the first place.

[BlueAngel]

Bingo!

[Titus Quinctius Cincinnatus]

Nonsense. How could the Dow drop 7000 points, It is at 6,625 now. When was it 13,625?

Roughly eight months ago?

[chimera]

That's the thing that always goes unmentioned. It isn't just 250,000 that is the “magic number” for the “wealthy”. For individual filers, it's 125,000. That broadens the hit considerably. But, you see, all those “rich” individual filers deserve to be hit. “Shared sacrifice”, remember, is their code word for income redistribution.,

[RogerWilko]

I hate Hillary

You stole the words right out of my mouth! I would have been happy to her over what the hell these pathetic, socialistic, clueless, market/country destroying marxists are doing right now!

You can't tell me there aren't at LEAST 10-20% of those clueless ZERO voters regretting what they've done to the country!

[Churchillspirit]

Jimmy Carter dipped in chocolate botox

LOL!

[Semperfiwife]

Is is possible Obama even has it in for some union workers? School administrators, fire chiefs in some cities, etc. In many states they make more than 125,000 a year. Now they are among the evil hated rich, along with their union bosses who also make Obama’s limit.

[Frantzie]

I was having that thought as I was typing. He works in the private sector for his own company so it is sink or swim. No bailouts. He and guy Adami are entertaining and pretty sharp. The rest of CNBC except Santelli and maybe the one Najarian is a waste.

[balls]

The presidential bastard in chief wants to keep the market down to destroy wealth and build social dependency. It’s in his best interest.

[Nervous Tick]

>> The thing that should pop is GOVERNMENT SPENDING!

Oh, definitely! Like an angry red zit with a big white middle.

Won’t happen, though.