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BBC News: Markets fall despite Obama speech
BBC News ^
| August 8, 2011
Posted on 08/08/2011 2:41:36 PM PDT by Oldeconomybuyer
The main US share index, the Dow Jones, has closed down 5.6%, despite US President Barack Obama moving to try to reassure investors.
In his first public reaction to Standard & Poor's downgrading the US, President Obama said markets continued to regard US government debt as being the highest possible grade.
Yet despite his comments, the Nasdaq index fell even further, losing 6.9%. Prior to President Obama's speech, the Dow had only been 2.5% lower.
He called on both Republicans and Democrats on Capital Hill to avoid party-political positioning over the issue.
"It is not a lack of plans or policies that is the problem," he said.
"It is a lack of political will in Washington, an insistence on drawing lines in the sand. That is what we need to change."
(Excerpt) Read more at bbc.co.uk ...
TOPICS: Business/Economy; Government; News/Current Events; Politics/Elections
KEYWORDS: despite; election2012; failure; fall; markets; obama; obamanomics; ratingsdowngrade; socialism; speech
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"Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek.
-Barack Hussein Obama
To: Oldeconomybuyer
Despite? Try “Because Of”.
To: Oldeconomybuyer
Think the article title should have been: Markets fall because of Obama!
3
posted on
08/08/2011 2:43:59 PM PDT
by
jackieh
To: Oldeconomybuyer
The main US share index, the Dow Jones, has closed down 5.6%,
despite because of US President Barack Obama moving to try to reassure investors.
Blue penciled the lead for accuracy.
- 30 -
4
posted on
08/08/2011 2:44:15 PM PDT
by
re_nortex
(DP...that's what I like about Texas.)
To: Oldeconomybuyer
Totally unexpected, and unprecedented.
LOL. Bbwwwwaaahhhhhhaaaaaa.
5
posted on
08/08/2011 2:44:20 PM PDT
by
Paladin2
To: Oldeconomybuyer
Barack Hussein Obama legacy—
the disgraced brainless idiot that destroyed a great country.
6
posted on
08/08/2011 2:45:01 PM PDT
by
TribalPrincess2U
(democRATS—just doing al Qaeda ground work? Obama owns it all now.)
To: Oldeconomybuyer
Obama said that again? Yet AGAIN?
Can’t he figure out SOMETHING else to say other than it is someone else’s fault?
I’ve had it with his stupidity.
7
posted on
08/08/2011 2:45:38 PM PDT
by
casinva
(It was Obama who set the August 2 date to begin with. Since when did we start believing him?)
Obama speaks and market freaks.
To: Oldeconomybuyer
If Obama wanted to make a speech that would make the markets soar it would simply be this,
“I shall not seek re-election to a second term as Preisdent of the United States.”
9
posted on
08/08/2011 2:50:18 PM PDT
by
Stormdog
(A rifle transforms one from subject to Citizen)
To: Scott from the Left Coast
That was my immediate thought, too!
10
posted on
08/08/2011 2:50:36 PM PDT
by
livius
To: Stormdog
“Preisdent” President. (sorry, brain cramp)
11
posted on
08/08/2011 2:52:50 PM PDT
by
Stormdog
(A rifle transforms one from subject to Citizen)
To: Scott from the Left Coast; jackieh
I really need to take that refresher course in speed typing! :-)
See my post #4 since both of you beat me. In the words of Maxwell Smart, "Missed it by that much."
12
posted on
08/08/2011 2:53:50 PM PDT
by
re_nortex
(DP...that's what I like about Texas.)
To: re_nortex
I expect that headline created a collective groan in many minds around here.
To: Scott from the Left Coast
What idiot comes out in the midst of a 300 point drop and says, “I’m gonna raise your taxes.”?
Unless he INTENDED to send the market into freefall. al qaeda couldn’t have done more damage to this country than obama did today.
14
posted on
08/08/2011 2:57:12 PM PDT
by
MestaMachine
(Going down! (Gunwalker Ping List))
To: Oldeconomybuyer
He's the BIGGEST EMPTY FLAKE around...NO ONE trust anything coming out of his mouth....why wouldn't the markets tank...this is actually getting rather funny...it is time to invoke the 25th...here today gone tomorrow...
IF they remove him due to his health, with the lie he'll return it'll keep all his flakes from rioting.......put him on ice then quietly remove him...
15
posted on
08/08/2011 2:57:32 PM PDT
by
shield
(Rev 2:9 Woe unto those who say they are Judahites and are not, but are of the syna GOG ue of Satan.)
To: Scott from the Left Coast
Despite? Try “Because Of”. Yep. That's the way I saw it.
16
posted on
08/08/2011 2:59:13 PM PDT
by
ArrogantBustard
(Western Civilization is Aborting, Buggering, and Contracepting itself out of existence.)
To: Stormdog
17
posted on
08/08/2011 2:59:28 PM PDT
by
doc11355
To: Oldeconomybuyer
Yet despite his comments, the Nasdaq index fell even further, losing 6.9%.
I think they forgot the obligatory “unexpectedly” before “fell”.
Then again, maybe the previously unexpecteds are not as, well, any more unexpected?
To: Scott from the Left Coast
Exactly. The only way to reassure investors at this point is to let them hope obungler has disappeared.
19
posted on
08/08/2011 3:03:51 PM PDT
by
Let's Roll
(Save the world's best healthcare - REPEAL, DEFUND Obamacare!)
To: MestaMachine
Kinda like Mondale during the debate.
20
posted on
08/08/2011 3:05:30 PM PDT
by
petercooper
(2012 - Purge more RINO's.)
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