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The Library => The SGA => Topic started by: JohnDeere on January 20, 2009, 05:22:15 PM
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This really surprised me. I would have thought that the economic news coming out of Europe would have been factored into selling on Friday. Really, there is no other way to explain a sharp %2 drop as he ends his speech. You'll never hear the main stream media try to explain this....it will be swept under the rug as market noise or reaction to bad news coming out of European numbers.
Hell, I wouldn't be surprised to hear the blame on the Cardinals for the ass wooping administered on the Eagles. Or it could have been about the time when the line on the Super Bowl came out today.
But, I am betting it was a true, "O Shit" moment by big money on the market today.
Troubled Wall Street
But not even the historic inauguration could lift Wall Street out of the doldrums. As AP reports, immediately following Obama's speech, the major indexes fell more than two percent:
Traders on the floor of the New York Stock Exchange paused at times to watch the inauguration ceremony and Obama's remarks, but the transition of power didn't erase investors' concerns about the struggling economy.
At the closing bell, major indexes were down more than four percent and the Dow Jones Industrials tumbled 332 points. I don't give a shit how it is spun, that is a lack of investor confidence coinceiding with the events of the day. With all the hype we have had forced down our throats about this being a historic day; the "money" saw right through that shit and reacted.
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Maybe it was the realization that The ONE's $850 Billion Economic Stimulus Package will probably pass and somehow, somewhere somebody's gonna have to pay for it.
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Maybe it was the realization that The ONE's $850 Billion Economic Stimulus Package will probably pass and somehow, somewhere somebody's gonna have to pay for it.
fuck it, we're all about blindly handing out money that we don't have to whoever in hopes that a miracle will happen. don't get me wrong, i didn't mind an extra $600 in my pocket the first time and i won't mind getting it again if it passes. but it didn't really do shit for the economy the first time around, so what is it going to change this time?
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fuck it, we're all about blindly handing out money that we don't have to whoever in hopes that a miracle will happen. don't get me wrong, i didn't mind an extra $600 in my pocket the first time and i won't mind getting it again if it passes. but it didn't really do shit for the economy the first time around, so what is it going to change this time?
Nothing but buy Democrat socialist votes.
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Heard this morning that it was truely a HISTORIC DAY.....largest drop in the DOW on inaguaration day, EVAR.
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Heard this morning that it was truely a HISTORIC DAY.....largest drop in the DOW on inaguaration day, EVAR.
And that giant sucking sound you hear...that's Social Security and the current Healthcare system.