Skip to comments.Unprecedented: An American President Attempts to Talk Down the Stock Market
Posted on 10/03/2013 4:28:53 PM PDT by Kaslin
RUSH: I've been searching my memory, and I've asked some people and nobody can remember, nor can I, a time -- maybe Jimmy Carter, but then he didn't mean to... I do not remember a president of the United States talking down the stock market and the world economy like Obama did. It is unprecedented. It's in an interview with CNBC, John Harwood. Obama warned the world markets that it cannot be taken for granted that the Congress would be able to raise the debt limit before the October 17th deadline so that the US doesn't default. I kid you not. And then he said that he thought world markets should be concerned.
Now, is that what he means by toning down or keeping down his rhetoric? I really think, folks, this is unprecedented. No previous US president has ever tried to talk down the economy like that. Now, the Democrats, as a party, did so during the last three, maybe four years of the Bush administration, but they were trying to create an image in people's minds. They wanted people to think that we were in a recession. They wanted voters to think that Bush's economic policies were creating havoc. But that's different. Those were random, independent voices from people who are either one of 535 members or one of 100 members of the bodies, Senate or House. But this is the president.
I can't remember a previous president ever trying to talk down the economy like this. If anything, in Obama's situation, they would be talking about how the country would never let a default happen. But he's out there warning the world that it could. I'll tell you what this is, all of it, everything. I get so blue in the face. Everything Obama and the Democrats do is political and has an agenda, is part of the agenda, and the agenda right now is destroy the Republicans, the Tea Party. And I think -- I could be wrong about this -- I think the Democrats are imploding. I think they're getting batty. I think they're going nuts. This is not playing out the way they thought.
The Tea Party is not going away. The Tea Party's hanging in, and, if anything, the Tea Party is getting stronger. There is no sign of a cave anywhere out there. The Democrats, because they know that they are aligned with the media, because they know they can bring untold pressure to bear, they didn't think we would be here three days in. I really believe that. A couple of days ago I would not have predicted this scenario, actually. I don't think the Republicans were gonna cave. I just wouldn't have predicted the Democrats so off the rails. But they really are. With Harry Reid yesterday talking about, why would we do that, save one kid's life with cancer, why would we do that?
The president is off the rails and attacking the Republicans here, and George Miller, the best friend the communists in Nicaragua ever had, Democrat from California, is out calling this a Republican jihad. I mean, they're overdoing it. Even for low-information people, they're overdoing it. Now, I'm not saying that there is a shift in public opinion on this, but it certainly doesn't hurt that these website locations for the exchanges remain a disaster.
RUSH: When has a US president ever told Wall Street that they're not worried enough? I started to talk about this in the opening segment of the program. I don't recall a president ever -- it's unprecedented in my mind, purposely. Jimmy Carter did this just by virtue of his existence. He scared the hell out of people. But Obamacare here is warning the market. He wants the market to plunge. He's orchestrating this to be able to blame the Republicans for it, folks. And I am not exaggerating. He is talking down the stock market, and it's working. It's down 125 right now. He is talking down the stock market in relationship to the shutdown so as to blame the Republicans for it. Here's the first of two sound bites. This is from CNBC, an interview he did with John Harwood.
OBAMA: No, I think this time's different. I think they should be concerned. When you have a situation in which a faction is willing potentially to default on US government obligations, then we are in trouble.
RUSH: Nobody's talking default except him. The Republicans are not talking default. So he's answering a question from Harwood, CNBC. "You mentioned calm. Wall Street's been pretty calm about the shutdown. The reaction I would say generally speaking has been Washington fighting, Washington posturing, yada yada. Is that the right way to look at it?" "No, this time it's different, it could be bad, John. We could be headed to default." Bam. What do you think's gonna happen? These people on Wall Street Journal live and die when Ben Bernanke -- I was gonna say expels gas. Whatever he says, they live and die by it. Here comes his boss, essentially. Obama predicting doom.
Harwood says, "You said one time recently you keep hoping a lightbulb goes off. It gives the impression that you think your Republican opponents are either craven or stupid or nuts. Is that what you think? And if you think so, does it help your cause to let people see that out loud?"
OBAMA: I think it's fair to say that during the course of my presidency I have bent over backwards to work with the Republican Party and have purposely kept my rhetoric down.
RUSH: This is after he just predicted a market crash, or warned about it. Well, he warned of a default. He said the Republicans are taking us that way. And major stock market indices are indeed reeling today, this afternoon, and at one time the Dow Jones Industrial Average was down 180 points. Third day of concern about the fiscal mess in Washington and how it is growing. And Obama did this. Obama created this panic for the express purpose of blaming the Republicans for it as part of his keeping the rhetoric down, bending over backwards to be cooperative and work with the Republicans.
Didn’t he talk the economy down in 2009? I seem to remember something like that
Ha ha ha ha!! I made a funny......
Yeah, that had me wondering. It’s almost as if he is completely batting against the United States. I think he is. He’s supposed to reassure everybody...not him. I think he should be fired over just that.
Wrote my Congress-critter about this earlier today.
Pointed out that it was a clear attempt at market manipualtion to the detriment of responsible Americans who are saving, investing, and planning for their retirement.
Asked when he would implement impeachment proceedings over this.
Still waiting to hear back.
The agenda justifies the means.
“Flounder, flounder in the sea. Tell him I want to be King of the Earth.”
an attempt would mean he was not successful.
Seems to me he DID talk down the markets.
Treason, corrupt, arrogant, reckless and in my view this should be impeachable.
He is just pissed that his demands aren’t immediately being met by kneeling, bowing, ring kissing Americans.
Jack Lew was out trying to scare the markets today also.
Me thinks the wheels are coming off the wagon. 0bama would love nothing more than for that to happen. There’s probably warehouses full of blue helmets and the soldiers to fill them already in the United States.
For all we know, Soros may be selling massive amounts of stock today to bring down the market.
Here’s an oldie but a goody:
S&P 500 is a better indicator and it is not doing so bad compared to a month ago or a week ago.
He’s planning on using scare tactics just like this to violate the constitution, and break the debt ceiling himself. Once it’s violated in such an obvious fashion, it may not be enforceable ever again, which is his plan.
The Republicans have pointed out they already passed the “Full Faith and Credit” act, which requires the President to prioritize the payments of debt, starting with principle, interest, then entitlements, since there is always plenty of money coming in from taxes to cover these expenses. What there may not be money for, is the extravagant wasteful spending, but there is always enough money to avoid us going into default on the debt actually owed, Obama will just refuse to make the proper choice, and is planning to destroy the country instead.
He’s already seen that our credit rating went down from AAA to AA+ in 2011.
He would like to see it go down again, then he will have minions like Boxer blame America.
With the Democrats, it’s always someone else’s fault.
It’s the typical tactic of the rats. Remember their claim that Republicans want to poison the water, or they want to throw grandma down the stairs. There are many more examples like this
Yeah, I heard him when I posted the thread
I guess it really does matter that the President you elect absolutely LOVES America, and wants to see her prosper; and doesn’t want to “fundamentally transform” her into some European dictatorship.
I’m hoping we’ll do better next time ..... because if we don’t, America is done for.
Thanks, but I’m afraid that Obama is different, he has no interest in American history or tradition, in fact his platform was to “fundamentally change” the USA. And I agree with what Mark Levin was saying tonight, Obama’s “fundamentally change” program includes purposefully and forcefully violating the US Constitution, and this is his perfect storm.
I actually started thinking this insidious plan could be what was actually going on yesterday, when Obama was purposefully tanking the market all by himself, when Presidents have always tried to assure and calm the markets. But I thought to myself, the Republicans will be too naïve to even see it coming, and radio jocks would consider it an unspeakable subject.
But the way Levin was ranting and raving on his show tonight that we better start screaming from the rooftops this is Obama’s actual plan, so that people might listen and help prevent it, I’m more convinced than ever that’s what he’s planning on doing. He wants to ignore the obvious and simple solution to pay the debt principle and interest separately, and instead say he must break the constitution and the debt ceiling all on his own, and take control of government spending which belongs to Congress, not the Executive Branch.
His friends did it for him in 2008, it was all too convenient with the election two months away.
Indeed, at some point just habitual incompetence is an impeachable offense. Obama is nothing if not incompetent - let alone everything else. What comes to my mind immediately is his continual abuse of the public trust with the golf and the lavish personal spending on himself from the public treasury.