Posted on 11/07/2012 5:37:19 AM PST by John W
MADRID (MarketWatch) — U.S. stock futures pointed to sharp losses for Wall Street on Wednesday, as investors pushed past an election victory for President Barack Obama to focus on urgent fiscal-cliff issues.
“Investors are having second thoughts,” said Peter Cardillo, chief market economist at Rockwell Global Capital, who expects a volatile session Wednesday in the wake of Obama’s win.
(Excerpt) Read more at marketwatch.com ...
Second thoughts? Don’t you need to have a first thought before you advance to a second thought?
Wall Street has been disconnected from reality for some time. I expect that any losses today will soon be offset by gains, and that things will continue as usual.
Color me as not surprised!
I’m seeing the Dow up 133...
the stock market is going to crash
where is any hope?
the debt ceiling has to be raised before Jan. 1.
Everyone’s taxes go up Jan. 1.
The 2% payroll tax expires.
The sequester happens.
This means unless Obama can work with Congress (yes, LMAO)
we go into a recession, according to the CBO.
RECESSION
No problem—hussein will simply print more money and give away our private retirement savings to compensate and redistribute us into a third world country.
That’s what I thought too but the markets haven’t opened yet. Wherever you’re looking, you’re looking at yesterday’s closing numbers.
Not open yet today. That was the last day.
that was yesterday’s Romney bounce
Today you will see the obama effect
Seek shelter from the storm, obama’s “win” was the last good news the MEDia will have to crow about for a long while
I knew last night before 7PM that obama was going to “win” because DOW futures were crashing before the polls even closed
No problem—hussein will simply print more money and give away our private retirement savings to compensate and redistribute us into a third world country.
**
Not if you take it out of the market and go hide it under your mattress immediately.
Congrats to those of you with retirement savings. At least you had a chance to earn them during your lifetime.
For the rest of us, “retirement” will be merely a quaint old fashioned idea.
“No problem—hussein will simply print more money and give away our private retirement savings to compensate and redistribute us into a third world country.”
We will have to have inflation, maybe not hyperinflation but something like 15-20% per year in food and energy. This will leave little disposable income for the rest of the economy and then we will see big drops on Wall Street.
If inflation gets really out of control, the entire financial system will collapse because, for most people, there will be no medium of exchange.
The sad things....the media will trumpet the market drop because of the threat of gridlock, and blame only Republicans. 50% of the country will buy that line.
We have a media problem in this country. It is not a sour grapes discussion. We have a fully compliant media for one party, and that is dangerous. The Obama campaign ran for a full 12 months on a set of lies and non issues like birth control...media carried their water. We have a candidate that presented no solutions and got away with it because he never got questioned. There is a clear national tragedy in Libya swept under the rug, and no one on the major channels reported major news on that issue for the past six weeks.
It is possible to win despite media bias. Reagan did it, Newt/GOP did it, Bush43, and the 2010 tea party did it. 2010 was ‘allowed’ by the Democrats to help set up 2012. Their blue dogs were used to pass leftist legislation, and willingly discarded in the mid-terms. The Dems built a Senate firewall to keep the majority, block all legislation and then blame the House GOP who had been busy crafting a large volume of reform legislation. The media, again, 100% compliant in blaming the wrong house. It stuck. We didn’t fight that narrative AT ALL in the past 12 months in any meaningful way. We may not be able to change the media, but we have to find a way around it. Somehow Reagan won landslides with a left media and no internet, cable shows or radio. We have to press forward with strategies to penetrate this or we cannot win another presidential election.
Wall Street will continue to party on with their rising stock and commodity prices, currency and derivative manipulation, and quantitative easing.
Meanwhile, Main Street will continue to suffer with rising prices and falling incomes while they try to eke out livings with multiple part-time jobs.
They will get just what they asked for. Every small town, small city, and medium sized city across Ohio, Virginia, Colorado, and Florida is going to suffer for their decisions.
New York and Washington will continue to thrive.
Unfortunatly I think we have crossed the demographic threshold. There are more takers than makers now.
And they get bussed to the polls.
I doubt even Reagan could overcome this.
The decendents of the people who built this country from literally nothing, into the greatest country in the history of the world, allowed foreigners to flood into this country (heck! invited them with open arms) for 100 years and allowed them to steal the inheritance that should of been theirs.
for ourselves and our posteriety... died last night.
Most of us who follow politics closely understand how significant this loss is. Social Security will not be reformed as a govt pension program, but will become a part of the welfare system. The first step will be to lift the threshold on income that is taxed and then benefits will be dropped for people earning above a certain amount. Part of this has already been accomplished through the tax code by taxing SS if the individual earns a certain amount.
The next entitlement to go will be medicare. It will eventually be rolled into the single payer system that obamacare will produce.
The country has spoken. It is different. We do not value life, or traditional values. These are the values of the past. We do not believe in fiscal responsibility if it means we don't get what we want now. I believe this is a fundamental shift in the country.
We have a vibrant alternative media that is ignored as *conservative rhetoric* or as *lies*, by a majority. Hollywood is a closed shop and most people get their overall societal ideals from TV shows. FB is the new village square and it is self-reinforcing.
For years, when speaking to average, not unintelligent folks, we have been amazed to discover that they have either no idea of what is going on politically or in foreign policy or they have a skewed take on whatever it is. A common response is:”I have never heard that.” They are politely amazed by our information and frankly, somewhat disbelieving.
America is not the same country it was when Reagan won. Period and end. I read and hear statements such as “Well, everyone’s poor now in America, so I can’t really complain.” Everyone is not broke, everyone is not unemployed and in some areas, business has improved from 2008 even if it is not back to 2007 by a long shot. People seem to just accept the status quo enough that they voted for it.
People survive in Europe, the UK and Canada. We will survive, as well. We will learn to work the system because we must.
We have been watching some Canadian, Brit and Scandinavian TV series, lately. One thing that stands out is how real everything seems. People have wrinkles and imperfections. Hair and clothing are subdued, maybe even frumpy, not always perfect. Cars, even for professionals, are small. Homes are, as well. People speak quietly. Local government functions. There is health care available. The shows are not set in the international capitals featuring the highly successful and when those places and people are shown, they, too are less glossy and perfect than we see in American productions. If that was the everyday reality, and I think it is, how grossly exaggerated American TV must seem. Everyone is too perfect, everything is too luxe, too loud, too big, too shiny.
I don’t think *European* is a pejorative. I think people actually find that way of life more comforting. There are political parties in Europe, UK and Canada that less socialistic. They must work in coalition w/the socialists. That is the reality.
If we cannot win w/a moderate RINO, it is certain we cannot win w/a True Conservative. The culture has moved on to a different place and we are anachronisms. We cannot even influence things by just living a conservative life. We can live that lifestyle, but it isn’t going to influence very many.
Reagan would have lost to Obama.
Down 2% in less than 90 minutes of trading...
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.