OH, great....OBAMA is going to "address the nation."

[wgadget]

I wish he'd just remain in hiding.

http://www.nydailynews.com/news/national/2011/08/08/2011-08-08_dow_plummets_200_points_within_5_minutes_of_ope ning_bell_as_wall_st_reacts_to_sp.html

[LibertyEagle]

lol

[ihsv]

Any bets on how far the dow will fall by the end of his speech?

[wgadget]

Any bets on how far the dow will fall by the end of his speech?

If it's tonight, there will be some time for the effects to wear off..

http://www.nydailynews.com/news/national/2011/08/08/2011-08-08_dow_plummets_200_points_within_5_minutes_of_ope ning_bell_as_wall_st_reacts_to_sp.html

[ihsv]

If it's tonight, there will be some time for the effects to wear off..

http://www.nydailynews.com/news/national/2011/08/08/2011-08-08_dow_plummets_200_points_within_5_minutes_of_ope ning_bell_as_wall_st_reacts_to_sp.html

I didn't realize it would be tonight. Political prostitutes do their best work at night, so it makes sense.

[Krugerrand]

Any bets on if he'll suggest something along the lines of 'the only thing we have to fear is fear itself."

[jdmyprez_deo_vindice]

If it's tonight, there will be some time for the effects to wear off..

http://www.nydailynews.com/news/national/2011/08/08/2011-08-08_dow_plummets_200_points_within_5_minutes_of_ope ning_bell_as_wall_st_reacts_to_sp.html

He will begin speaking at 1:30.. so still plenty of time for tons of damage.

[specsaregood]

Any bets on if he'll suggest something along the lines of 'the only thing we have to fear is fear itself."

How about bets on asset seizure via executive order in order to shore up the nations credit rating. :) Ya know, take the people's saving for the good of the country and all.

[Seraphim]

While pointing his stupid thumb at the camera:

"People, it is time we remain steadfast in our delusional ability to remain hopeful at all costs - the change is comin' folks. Let us not give into the reckless demands of TeaParty terrorists. The answers to our problems lie not in dialing back Federal Spending...no no, not in these precarious times."

[wgadget]

Yikes...15 minutes till Obamageddon Part V.

[ItsTime]

He will say "lets not play partisan politics" then go on to say "the small percent of Republicans are to blame"

[gls]

He will say "lets not play partisan politics" then go on to say "the small percent of Republicans are to blame"

"Let me be perfectly clear" followed by a bunch of nonsensical rambling

[Original_Intent]

He will say "lets not play partisan politics" then go on to say "the small percent of Republicans are to blame"

This.

One more opportunity to reinforce the meme from the Sunday morning shows - this is a Tea Party downgrade. The message to politicians is learn the Potomac two-step or be destroyed.

[Vessol]

We should form a drinking game based on some terms.

I can't play though, I'm off to work soon :(

[Romulus]

He won't say "Tea Party" but he will elude to it strongly....

[NewRightLibertarian]

gotta propagandize the masses for the bankers, i suppose

[libertybrewcity]

he was probably offered a lobbying job for better pay

[pcosmar]

Any bets on how far the dow will fall by the end of his speech?

Was wondering the same,, as to effect.

[squarepusher]

Obama: Everything is fine, go out and buy

[Theocrat]

Let's see if Obama addresses monetary policy and how printing more money will not fix the economy...

[ihsv]

"Let me be clear... we need to raise taxes... let me be clear... It's time to eat our peas... let me be clear... We need a balanced approach... let me be clear... we're only asking (at gunpoint) for a 50% increase in taxes... let me be perfectly clear... it's time to band together... blah blah blah...

[Original_Intent]

I'll guess 100 point drop in the DJIA from start of speech until "God bless America".

[Romulus]

"Eat your Pea's" like we are children.... ugh!

[Original_Intent]

Where can we watch this?

[Bruno]

Where can we watch this?

Every station

[Aliangel]

what time?

[wgadget]

Here, now:

http://cspan.org/Events/President-to-Address-Credit-Downgrade-Deaths-in-Afghanistan-at-130pm-ET/10737423372-3/

[flightlesskiwi]

soon. couple minutes, i think.

[ihsv]

Where can we watch this?

Foxnews has a life feed link on their homepage

[wgadget]

They moved it up to 1:45...a few minutes ago, there was some guy moving around setting stuff up.

[jdmyprez_deo_vindice]

starts in 6 minutes

[pcosmar]

I have a perverse desire to see the market nosedive moments after he starts speaking,, and keep a steady slide to close.

[Theocrat]

Where can we watch this?

Click here (http://www.whitehouse.gov/live).

[flightlesskiwi]

I have a perverse desire to see the market nosedive moments after he starts speaking,, and keep a steady slide to close.

+2

[LibertyEagle]

FOX was busy all night long trying to sell that it was mean 'ol Standard & Poors fault. That they made a mistake. They also had person after person on saying that everything was fine because the government could always print more money. :eek: The lid is off; they are just admitting it now.

[libertyjam]

The man is prone to rash and inappropriate decisions, to go along with he sociopathic ego. This speech will announce any retaliation he plans for the S&P downgrade.

Video of the speech (http://www.shallownation.com/2011/08/08/president-obama-speech-video-aug-8-2011-statement-on-sp-downgrade-of-u-s-credit-rating-to-aa/)

http://thecaucus.blogs.nytimes.com/2011/08/08/after-downgrade-obama-to-address-economy/

[georgiaboy]

Maybe he'll call on Congress to approve his new administration-authored grandiose New Deal Jobs Creating WPA Pork Stimulus QE-enriched shovel-ready saving America takeover of the private sector that he's ready to sign.

[Original_Intent]

The market is already pricing in the speech.

-375

[wgadget]

FOX was busy all night long trying to sell that it was mean 'ol Standard & Poors fault. That they made a mistake. They also had person after person on saying that everything was fine because the government could always print more money. :eek: The lid is off; they are just admitting it now.

"Person after person"? Surely you meant "idiot after idiot"?

[wgadget]

maybe he'll call on congress to approve his new administration-authored grandiose new deal jobs creating wpa pork stimulus qe-enriched shovel-ready saving america takeover of the private sector that he's ready to sign.

roflmao

[RideTheDirt]

The market is already pricing in the speech.

-375
This
-400

[RideTheDirt]

FOX was busy all night long trying to sell that it was mean 'ol Standard & Poors fault. That they made a mistake. They also had person after person on saying that everything was fine because the government could always print more money. :eek: The lid is off; they are just admitting it now.


http://www.youtube.com/watch?v=tvjP4nFFJQQ

[flightlesskiwi]

This
-400

anticipatory perhaps?

[ihsv]

The makeup crew is behind schedule... either that or the teleprompter is having trouble.

[Original_Intent]

Gonna lose 11K shortly.

[amonasro]

-420

Light it up folks!

[ihsv]

http://1.bp.blogspot.com/_FmWwXCSxI7g/ScJ8vg6iFpI/AAAAAAAAB74/NxHjZVfrLgs/s400/Pickyournose.jpg

[Theocrat]

FOX was busy all night long trying to sell that it was mean 'ol Standard & Poors fault. That they made a mistake. They also had person after person on saying that everything was fine because the government could always print more money. :eek: The lid is off; they are just admitting it now.

We have truly become a nation of babies. Instead of admitting our mistakes, we'd rather whine and blame other people for doing the right thing.

Some people just don't understand that you can't violate economic laws and expect things to get better. We have been warned for years that this would happen, that our economy would suffer, and that Americans would have a harder lifestyle as a result. It's amazing how dense otherwise intelligent people can be, but they will only make things worse, if they don't make the right choices and allow the economy to fix itself without government intervention.

May we learn our lesson swiftly before our entire system crumbles.

[truthdivides]

2 min warning

[HOLLYWOOD]

Hmm, PPT going to jump in to pump a 100 or 2?

You know all this shit out of Washington DC is staged for a reason on the dumbed down public. Wall street is not going to bite, so PPT + Sheeple/Obama Zombies will suck it all in.

Increase rates are 0 forever by the FED... all central banks have been buying GLD no sales... GLD is the new standard! :D

The PROPAGANDIST is now ON... gesus, he's quoting Insider Trader Warren Buffet. :rolleyes:

-408 at the start of O's speech

[georgiaboy]

I can't watch this speech. I know he will have no clothes.

[Theocrat]

http://www.youtube.com/watch?v=tvjP4nFFJQQ

"Sh-DOOM, sh-DOOM, sh-DOOM, sh-UT THE ____ UP!"

[ihsv]

Here goes

[messana]

Completely lost it in the first two sentences.

[RideTheDirt]

Rofl

[Diurdi]

Blame it on Tea Party?

[bunklocoempire]

Debate = Bad


Got it.


Bunkloco

[flightlesskiwi]

i knew it would be bad... but... CRAP!

delusional.

[Original_Intent]

"The threat of a default was used as a bargaining chip..." BY YOU, YOU BASTARD!

[ihsv]

http://i469.photobucket.com/albums/rr58/violatorsniper/double-facepalm.jpg

[flightlesskiwi]

tackle the deficit over the long term = after i'm long gone

[LibertyEagle]

Ok, he blamed the downgrade on the ability of the government to make a decision to raise the debt ceiling. Didn't S&P say that they did it because of the debt?

[bunklocoempire]

bohica


Bunkloco

[truthdivides]

bohica indeed

[jware]

More Tea Party blame!

[flightlesskiwi]

"can't we all just get along (and do exactly what i want)?"

[Sola_Fide]

"gridlock is bad"

[RideTheDirt]

-430

[Sola_Fide]

Is Rand going to respond to this?

[flightlesskiwi]

spend spend spend consumers!!!

[ihsv]

More shovels, people!

[RideTheDirt]

-445

[HOLLYWOOD]

Payroll taxcut comes out of the people's Social Security Trust Fund... NOT out of the general US Treasury account. Frigin continue to steal out of the people's retirement fund to fund current gimmicks. Man these thieving circus twirlers need to go.

BOOM! Dow dropped below 11K


LOL... FOX BIZ showing the Volatility Index (VIX) during Obama's speech.

[RideTheDirt]

Were under 11k!

[flightlesskiwi]

and dropping

[Sola_Fide]

We need more spending on roads folks.

[flightlesskiwi]

we need to act... just like FDR did.

[Sola_Fide]

"We can do it America"

[RideTheDirt]

Drudge now: BARACKALYPSE NOW

[flightlesskiwi]

whelps... we are going to shoulder the burdens we face..

throw in 31 dead in AFG.. war not ending soon.

[Sola_Fide]

Ahhhhh....end the speech with military-worship.

Typical

[bunklocoempire]

Getting all those union leaders wet, and now for the patriot reach around


Bunkloco

[Original_Intent]

When he quit talking about the economy, stocks bounced.

[RideTheDirt]

getting all those union leaders wet, and now for the patriot reach around


bunkloco
rofl

[flightlesskiwi]

we will press on and we will suceed.

^^*&+^*+&^%*&^(*&(*&.

vomit. vomit. vomit.

[bunklocoempire]

Drudge now: BARACKALYPSE NOW

the horror, the horror....


Bunkloco

[HOLLYWOOD]

Oh, here we go with the Jingoism Shit... believe people, war is best while the Imperial Roman Empire collapses at home. :rolleyes:

[ihsv]

What the hell did I just watch???

[RideTheDirt]

dropped to 10,084 during the speech

[flightlesskiwi]

tax the rich! spread the empire love!!!

[georgiaboy]

so no announcements? not going to do anything about it?

[ihsv]

Right on cue: Stocks bouncing back up?

[messana]

Amazing how one speech can collapse the entire country.

[Cdn_for_liberty]

don't worry folks, the U.S. is still a AAA nation.

[wannaberocker]

SO basically he said what he has been saying since 2008. Tax the rich, we dont have a debt crisis, Warren Buffet says dont worry about downgrade blah blah.

[freejack]

Don't worry. He's going to summon the spirit of the American people. Spirit people, SPIRIT!!!

[aravoth]

What the hell did I just watch???

http://i31.photobucket.com/albums/c370/aravoth/Publication1.jpg

[flightlesskiwi]

so no announcements? not going to do anything about it?

the committee of 12 will have the administration's full cooperation (or is it the other way around).. the rich will shoulder their "fair share" of tax burdens, more roads need fixed, and god bless the troops we will press on in afghanistan.

[wgadget]

SO basically he said what he has been saying since 2008. Tax the rich, we dont have a debt crisis, Warren Buffet says dont worry about downgrade blah blah.

And yet Warren Buffett's company has been downgraded, too. LOL

[bunklocoempire]

so no announcements? not going to do anything about it?

You're gonna have to tune in next week for the super-change, he'll keep ya posted.



Bunkloco

[Sola_Fide]

Obama is stuck in a 1930s mindset where he thinks "roads" are the indicators of progress.

[pcosmar]

Tax the wealthy, cut medical benefits to the elderly (maybe they will die) extend unemployment benefits again (that ain't workin')
Spend more, and keep the pointless wars going.

WTF?

[bunklocoempire]

Obama is stuck in a 1930s mindset where he thinks "roads" are the indicators of progress.

Lol!

Get them horseless carriages rollin' How capital! Love to see them steam-shovels workin'!


Bunkloco

[flightlesskiwi]

Lol!

Get them horseless carriages rollin' How capital! Love to see them steam-shovels workin'!


Bunkloco

also: build some more dams!! we need more dams!!!

[aravoth]

lets get #BARACKALYPSE trending on twitter!

[Theocrat]

Obama is upset at S&P for downgrading our credit rating, but the Shit & Piss that has come out of his mouth for the past two-and-a-half years has already downgraded our country.

[pcosmar]

Gonna need to raise the Debt Cap again,, He just promised sending beyond it.

[specsaregood]

Gonna need to raise the Debt Cap again,, He just promised sending beyond it.

You mean move the debt target out further on the range. These are expert marksmen we got in D.C.

[Brian4Liberty]

Bottom line: more "stimulus".

[Sola_Fide]

Gonna need to raise the Debt Cap again,, He just promised spending beyond it.

Bingo.

[ravedown]

distributing wealth is the goal...S&P downgrade is political and works in obama's favor. we must raise taxes in order to stabilize our debt situation and improve our credit rating...it's the only answer. this speech was theater and goes towards justifying more taxes.

[CaptUSA]

Well, obviously we need to keep giving people unemployment benefits... If those people stopped having money to spend, it would be the end of the economy! If anything, we should give them MORE money so they'd have more to spend! That's putting money directly into the free market you guys like so much!











(don't ask where that money has to come from, though)

[Original_Intent]

We have a technology called a printing press.... /bernanke

[Sola_Fide]

These are the central planners who are doing everything wrong and prolonging our misery. They actually think they are helping right now.

[ItsTime]

AA rating here we come!

[Carehn]

Obama is stuck in a 1930s mindset where he thinks "roads" are the indicators of progress.

I know. someone was arguing we need to spend more on roads based on what other country spend on roads. Maybe we need them and maybe the need them but i don't know why the demand would be exactly the same world wide and i don't know how anyone can be so stupid as to suggest they know the exact supply needed.

The market would and could provide for roads if needed if only Washington would get out of the way and let the roadways be privatized.

[NewRightLibertarian]

These are the central planners who are doing everything wrong and prolonging our misery. They actually think they are helping right now.

I disagree. I believe they know they are ruining the world economy and doing so to further consolidate power.

[sluggo]

lets get #BARACKALYPSE trending on twitter!

Ha. Will add it on.

[flightlesskiwi]

I disagree. I believe they know they are ruining the world economy and doing so to further consolidate power.

i'm with sgt on this. it's all part of the globalization plan.

another reason our military defenses are spread so thinly throughout the world and the wars continue to put a strain on the forces.

*removing my tin foil hat*

[acptulsa]

What do you mean we can't keep spending trillions on imperialistic wars and letting the corporations cart off all of the mineral wealth we connquer without bankrupting the government? Doesn't make sense. We still have taxpayers!

[NewRightLibertarian]

i'm with sgt on this. it's all part of the globalization plan.

another reason our military defenses are spread so thinly throughout the world and the wars continue to put a strain on the forces.

*removing my tin foil hat*

What are you doing taking your tinfoil hat off!?!?!? Put it back on immediately!!!!

[Seraphim]

this.


I disagree. I believe they know they are ruining the world economy and doing so to further consolidate power.

[surf]

others have ripped me in the past for saying this - Buffett's a fucking idiot. watch the end of IOUSA and see the "panel" discussion and you'll hear Buffett's reasoning that there is no debt crisis because this is America and America always wins....

[Pericles]

This is why this board should have had a barf smiley by now.

[Original_Intent]

-630

[flightlesskiwi]

This is why this board should have had a barf smiley by now.

Seconded.

[bunklocoempire]

This is why this board should have had a barf smiley by now.

:collins:
.
*
*
#

Yes, it takes a bit of an effort, but where there's a :collins: there's a way.


Bunkloco

[Krugerrand]

What are you doing taking your tinfoil hat off!?!?!? Put it back on immediately!!!!

At the price of tinfoil these days, who can afford hats.