Skip to comments.Dow Plunges 600, S&P and Nasdaq Sinks 6% [ -633 After Obama Speech ]
Posted on 08/08/2011 1:26:11 PM PDT by NoLibZone
Stocks took a sharp nosedive in another choppy day Monday to finish at session lows as investors fled from risky assets following S&P's downgrade of U.S.'s credit rating last week in addition to ongoing economic jitters.
(Excerpt) Read more at cnbc.com ...
This will go down as Obama’s Malaise Speech.
Thanks to Dems.
Gold = $1,716/ounce
Platinum = $1,720/ounce
Last time I saw gold and platinum this close was back in 2008 around crash time. At that time, gold was more expensive then platinum for a while. This is an interesting situation. One of these metals is going to have to move up or down I think. I think platinum will have to go up.
not in the least.
Obama the Destroyer
A Malaise Speech would be a sizable step up from what he did...which was just roll out the same old pap for the millionth time.
The Dow down almost 6%! Nasdaq and S&P both down nearly 7%! Goodbye retirement...
The Obama Crash.
How many trillions of dollars were destroyed today?...just up in smoke, gone, out of the economy.
TODAY WAS OBAMA’S KATRINA....
After Friday’s downgrade he did Nothing, ABSOLUTELY NOTHING AT ALL to calm the markets ahead of the Monday Open, while his media minions were trying to provide cover by saying “This means nothing, it isn’t important!” all weekend.
Like NAGIN, HE LEFT THE BUSSES TO BE FLOODED!
Don’t worry, we’ll just print more!
What are you, racist or something?
Obama’s still up 17 percent from his inaugeration. That’s over 3 percent return a year!
Jimmy Carter was *down* 15 percent. So clearly Obama is better then Carter. ;)
Check out the volume chart below the value chart ... there has been a week of MASSIVE selloff.
This exchanged typifies ‘rat thinking:
Reporter: “Why weren’t the buses used to evacuate people?”
Democrat Senator Landrieu: “Because they were under water!”
Sadly, I think that bubble up about an hour before the close was Treasury pumping billions of printed-up dollars in to support Obama after his ridiculous speech. Just more for our grandkids to pay off in slave labor.
Sure he did something...he ordered more $100 bills to be printed!!
Then he ordered dinner...scheduled a golf game for next week-end..and a vacation for whenever the going get's to rough.
So you see...he's doing something.
The DOW has plunged 1,800 plus points since it became clear that Democrats weren’t interested in any real solutions.
AND YOU WILL NOT BE HEARING THAT on any non-FOX MSM broadcast tonite.
It’s really amazing to read the letters to the editor of sheeple attacking the TEA Party for causing the downgrade isn’t it?
Even though the TEA Party opposed the debt deal more than any other demographic the MSM and libs excalimed it as a “TEA Party victory” for just this reason; they KNEW the downgrade was coming and that was the set up.
The RINO’s went ahead and threw the briar rabbit in the briar patch.
Anyone else notice the exactly 6.66% decline at S&P’s close?
Barakolypse Obamageddon confirmed, I guess...
Bravo!! S&P said it...cut, cap, and balance was the only plan that would have avoided downgrade. It was the ADULT solution to the problem and Harry Reid declared it DOA. The “intransigent” leftists declared anything that touched social programs a non-starter.
“Heck of a job, Barry!”
Last time I saw gold and platinum this close was back in 2008 around crash time.