Skip to comments.Investors Fear More Than Just a 'Fiscal Cliff'
Posted on 11/07/2012 6:58:35 PM PST by Perdogg
The Dow plunged 313 points yesterday, but dont believe news media reports that it was the nearness of the fiscal cliff that caused the selloff. What spooked investors is a bigger picture that recognizes the economically catastrophic implications of a second Obama term. To be clear, there is nothing Romney could have done to avoid the deflationary Depression that lies ahead. However, a Romney presidency might have at least served as a reality check on malfeasant fiscal practices, delaying the onslaught of hard times for perhaps long enough to allow Americans to put their financial houses in better order before austerity is imposed on us with the force of an earthquake, as it has been on Europe.
(Excerpt) Read more at zerohedge.com ...
Unable to give a damn.
Sadly, the story will be fear of gridlock and the fiscal cliff. Most Americans will in turn blame the obstructionist GOP, and we all lose. Our electorate is just dumbed down. So little understanding of basics. Most can’t distinguish between the House and Senate.
Can obama blame obama for the mess he left him?
It's unfair that I have to starve alongside of them, though.
They're the ones who made it happen.
The MSM blamed the DOW crash on .... Europe.
Further adding to the irony of the day, the GAME SHOW
Jeopardy discussed Benghazi and the Ambassador’s murder
while the MSM “news” against skipped it for their Master.
No Obama bought this one.
Bought it good.
We need to start organizing an opposition because there will be opportunities everywhere soon.
I believe that some of liberal papers that endorsed Romney know what a disaster we are heading for in the coming months, tried to save Obama from history.
Nah, we have the guns, and when the SHTF we take over our neighborhoods and take what we want from the unarmed fools. Neighborhoods will turn into personal fiefdoms for those who are prepared and/or ruthless.
>>It’s unfair that I have to starve alongside of them, though.
When that day comes, they won’t last long enough to starve.
If you still have money in the market, you lose. Better odds in Las Vegas.
I am going to be laughing my ass off when “Progressives” are taking wheelbarrows full of money to the grocery store to buy a loaf of bread.
“Most cant distinguish between the House and Senate.”
The Senate is the more exclusive liars’ club;)
“The S&P 500 has gained 76% since his [Obama’s] inauguration in January 2009, while the Nasdaq 100 is up 128%.
“Compare that to the S&P 500s 13% decline and the Nasdaq 100s 45% wipeout in the first term of his predecessor, George W. Bush; or the mere 25% gain in the first term of conservative icon Ronald Reagan; or even the 60% gain in the halcyon early 1990s in the first term of Bill Clinton.”
The Stock Market has every reason to love Obama: http://www.marketwatch.com/story/where-to-put-your-money-if-obama-wins-2012-11-06
The Market will be up again soon. If not tomorrow, then maybe next week.
And I’m not happy about it: a bunch of gamblers who contribute nothing to the economy and are on welfare from the Fed, should not be rewarded for wrecking the economy and savings for people who do real work for a living.
t\To be honest, there is little difference since the 17th Amendment - mainly procedural (where various things happen and in what order).
The list is so long why bother going through all of it. All we have to do is look at obamacare being implemented and our energy future destroyed (no drilling for gas, oil, coal and no pipelines) and I get more than nervous. I just can't believe that the country has changed so much, but after 2 elections I see it has.
I suppose I should take some solace in seeing all those PA & OH miners, drillers and pipe fitters out of work, but I don't.
The stock markets, for whatever reason, will probably not suffer too greatly, even if the rest of the economy goes down the crapper.
I have no sympathy for the bitter clingers of Pennsylvania
“And Im not happy about it: a bunch of gamblers who contribute nothing to the economy ....”
What are you talking about!?
Most funds have no place else to go. Bonds don't pay a thing. Also, because the largest companies are multinational they can offset slower earnings growth here with better growth overseas. The stock markets don't reflect main street.
Blame John Roberts of the SCOTUS.
MSM is so asinine and hypocritical in blaming the Wall Street drop today on Europe. Heck the market had a very nice rally on Monday when Romney’s crowds looked encouraging.
The European situation has been known for months if not years. So why market crashed the first trading day after Obamao gets re-elected? It is so obvious!!!
We bitter clingers are in the western part of the state...
The problem is in the east.
To be honest...I find myself wishing pain and suffering on this country..for what it did last night it deserve it..
Sorry smoothsailing. I know that...just feeling frustrated.
I know, it’s a lousy mess. Be well, stay safe. :)
Perhaps we should propose to have independent Congressional
districts be their own self government.
I wonder if an innovative Congressman could do it for their own CD.
They would balance their own federal budget. The taxes taken from
by the constituents would have to balance the benefits to their district
plus essential federal services.
They would then have to start with 1) National defense
2) Security agencies
3) White Hut, House and Senate, DOJ
We should make a spreadsheet of each CD.
Nancy Pelosi probably gets the most cash benefits and pork to her district.
It would probably be impossible because we would have to track every
federal agency and program and track to each CD.
I wonder if any one has done it???
The stimulus web site was a disaster.
I think this would show clearly that every majority nonnative legal and
illegal district would have Sec. 8, Food stamps. Medicaid.
But we also need the mortgage interest deduction, the Tuition tax credits
and more higher income subsidies that people take advantage of
like 401k and health insurance subsdidy.
Stock traders contribute nothing to the economy. The market is down today then all the better for the bottom feeders tomorrow.
Obama has so damaged our economic future that any administration following him will have ZERO fiscal or monetary flexibility with which to deal with the situation they face.
Higher taxes, inflation and violence are the historical outcomes. Failure will be a certainty, as will economic hardship and civil unrest.
Obama has a problem alright, his policies. Now it’s our problem too, and it’s just around the corner. Get ready....