Skip to comments.Futures Slip After Obama Jobs Speech
Posted on 09/09/2011 6:41:48 AM PDT by Qbert
Futures were lower Friday, after President Barack Obama introduced a $447 billion plan to boost jobs on Thursday but did little to reassure concerns about the tepid economic growth.
The jobs plan "will provide a jolt to an economy that has stalled and give companies confidence that if they invest and hire, there will be customers for their products and services," Obama said in an address to Congress Thursday evening.
However, the bill's chances of passing Congress are uncertain. Republicans control the House and many of them oppose any new spending.
The program is a credible attempt to address structural obstacles to growth and employment, but it remains to be seen how effective it will be, Mohamed El-Erian, CEO and Co-CIO of Pimco, wrote in an op-ed for CNBC.com.
Meanwhile, renowned bear Marc Faber slammed Obama's jobs package, calling it "another complete failure of Keynesian economics."
President Obama is scheduled to speak again Friday on his jobs creation program in Richmond, Va. at 11:40 am ET.
(Excerpt) Read more at cnbc.com ...
At 9:40 DOW is down 205.
$447 billion in more stupid programs not ringing well with Wall Street? Gee, there is a surprise.
IMHO this has little or nothing to do with 0bama. This is almost all Europe, and Europe is in some very, very serious doodoo.
***Republicans control the House and many of them oppose any new spending. ***
Maybe because they realize that it’s crushing regulations and the prospects of expensive litigation for any idiotic reason is at the root of the problem.
Fixing those things doesn’t cost a whole lot of money.
Folks, the financial markets were down in Asia, Europe and have opened down in the USA this morning!!! It is quite simple, Obama is toast across the world!!! Both our enemies and friends across the world are laughing at him and the USA!!! The handwriting is on the wall for all in the Democrat Party to see. Dems, broom Obama now by forcing him to resign or go down politically with him, come November, 2012!!!
The economy would get a “jolt” from your resignation.
Do it now.
Clinton was a Republican and a GOD compared to this worthless piece of s**t, Obama.
What I would have loved to have seen, but obviously it wouldn’t have happened, is this.
Obama finishes his speech. While he’s still standing there, a house member rises to be recognized. Chair recognizes them, shocking Obama.
The house member says “I move that we gring the American Jobs Act to immediate consideration”.
The chair says “President Obama, did you bring a copy of the bill with you for our consideration”
Hilarity ensues. Pelosi holds a press conference to complain that it is disrespectful to ask the President for the bill he just chastized you for not passing.
That was a horrible speech. Written by a 5th grader, blaming everyone but himself.
This speech will look even worse if he puts it to paper. I wonder if he will actually put pen to paper.
Just words. Just speeches.
I got a kick from owebama. He looked like a monkey watching a tennis match. His head kept jerking left to right, reading from the two teleprompters. I did not see all of his “speach”, but while I watched, I never saw him look straight ahead. JMHO of course.
It really sounded like a late night infomercial:
“Blah, blah, blah... don’t delay- pass this bill now...... You can have it for 400 Billion, but don’t wait- pass it now...blah blah blah... what are you waiting for? Pass it now...”
Simple - Clinton was a pragmatist who became a leftist because leftist women are “easy”.
0bama is an idealistic Marxist.
You criticized him AND referred to him as a “monkey”!
Wow.. time for the punchline... everyone together now!
Of course, the headline that Yahoo puts with the stock drop is “Wall St Falls After ECB Resignation”.
0bobblehead. He’s lost without those teleprompters. Still!
Ya...and some the writers are trying to attribute the fall to the resignation of some EU exec.....sheesh!
Let’s see....what’s driving the market?
A) Obama announces continuation of failed spendinng policies.
B) Some no-name EU finance guru resigns
Isn’t that strange. CNBC had a “market falls after obama speech” headline but took it down in the last 10 minutes and replaced with the ECB line. His people must have made a call to their cronies at Comcast/NBC
LOL - The press continues to orally copulate Obama while the ship sinks.
Every time this idiot opens his mouth money evaporates.
They changed it then because it was “Futures drop after 0bama speech” (paraphrasing) about 45 minutes ago.
No “Hope” with this regimes “change”.
Dems would rather go down than do the politicaly unthinkable. (Dis a black man)
SHAME AND BLAME. Those words will define the Obama Presidency.
The Dow Jones industrial average dropped 330.96 points, or 2.93 percent, to 10,964.85. The Standard & Poor’s 500 Index dropped 33.40 points, or 2.82 percent, to 1,152.50. The Nasdaq Composite Index dropped 63.87 points, or 2.53 percent, to 2,465.27.