worst day for the djia in a year and it is blamed on "fiscal cliff"

[Original_Intent]

Not one word about it being how the election turned out. Not that I wanted Romney AT ALL, but it jsut kills me how transparent these media shills are.

"All the news you're fit to know."

[cajuncocoa]

I don't think there's any question that Obama is worse for business than Romney. Obama has made no secret of his distaste for the private sector.

[down_south]

I don't think there's any question that Obama is worse for business than Romney. Obama has made no secret of his distaste for the private sector.

How do you guys respond to the Obamabots who say that the stock market went up thousands of points during Obama's first term? They say it as if he saved the economy, I like to point out that under him gas prices went up too. But how is the DJIA going up under Obama? Unemployment is higher, we are producing less.....is it inflation due to him bailing out his buddies as well as the strength of international companies in the stock market and our declining dollar?

[Odin]

How do you guys respond to the Obamabots who say that the stock market went up thousands of points during Obama's first term? They say it as if he saved the economy, I like to point out that under him gas prices went up too. But how is the DJIA going up under Obama? Unemployment is higher, we are producing less.....is it inflation due to him bailing out his buddies as well as the strength of international companies in the stock market and our declining dollar?

I'm not an economist but my guess is because people don't know where else to put their money. Not in a bank, interest rates are too low. It seems obvious to put your money in precious metals but maybe some people are thinking they have hit a ceiling and so want to buy stocks instead. It's not because the economy is improving, by any means.

[ghengis86]

S&W up 9.62% today
Sturm Ruger up 6.81% today
Gold up ~$30 or ~1.5% since Monday

[Cody1]

How do you guys respond to the Obamabots who say that the stock market went up thousands of points during Obama's first term? They say it as if he saved the economy, I like to point out that under him gas prices went up too. But how is the DJIA going up under Obama? Unemployment is higher, we are producing less.....is it inflation due to him bailing out his buddies as well as the strength of international companies in the stock market and our declining dollar?

Basically low treasury rates aka "interest rates" goose capital gains on stocks. There's a business equation that takes all of this into consideration, I can't remember what it is though but stock prices rise significantly with low interest rates compared to higher rates because with lower rates there is more money being pumped into the economy. Maybe someone can help me to explain? There's a reason why I left business school :P lol

And yes keeping treasury rates artificially low for too long does have a negative effect on the value of our dollar. Ron talks about liquidating the debt through inflation and that is what this is essentially doing.

Also i'd like to point out that there's more to an economy than just the stock market. Juicing stock prices and capital gains in the market by keeping treasury rates low is a good way to fudge your way to prosperity but I fail to see how it helps to bring back our manufacturing base, out of control regulation and overall social work ethic. The whole aim is that more returns from higher capital gains will influence corporations to expand and create more jobs and investors to make more money and spur spending to heat up the whole economy. From my perspective it's all an illusion and is doing nothing but creating an even greater wealth disparity because it's still doing NOTHING about our manufacturing bottom line which should be the backbone of our economy.


Too me the stock market is essentially a false idol that men worship. I'm disgusted at the tenacity that some people have over staying glued to bloomberg or FBN anywhere and everywhere they go via tv or smart phone. It's like the facebook for money junkies. Just like any narcotic people have highs and crashes with it, yet they can't seem to get enough. Most of the time it's an illusion of wealth anyway and breeds corruption due to the greedy nature of people. I know some individuals that literally worship the stock market and wait with bated breath for Bernanke's next move.

[Brian4Liberty]

http://www.ronpaulforums.com/showthread.php?394878-The-Obama-Dump

[malkusm]

How do you guys respond to the Obamabots who say that the stock market went up thousands of points during Obama's first term? They say it as if he saved the economy, I like to point out that under him gas prices went up too. But how is the DJIA going up under Obama? Unemployment is higher, we are producing less.....is it inflation due to him bailing out his buddies as well as the strength of international companies in the stock market and our declining dollar?

The market had just tanked 50% prior to him taking office....there was more or less nowhere for it to go but up, short of a complete depression-style collapse.

[idiom]

The market is going up on the backs of high frequency trading between the computers of the mega banks. There is very little trading by real people left. All ll the retail investors have pulled their money out of stocks.

The Stock market is a big fake bubble at the moment, so it is highly volatile.

[madengr]

How do you guys respond to the Obamabots who say that the stock market went up thousands of points during Obama's first term? They say it as if he saved the economy, I like to point out that under him gas prices went up too. But how is the DJIA going up under Obama? Unemployment is higher, we are producing less.....is it inflation due to him bailing out his buddies as well as the strength of international companies in the stock market and our declining dollar?

Employers are working the shit out of their current employees and cutting benefits, in other words, productivity and profits are very high. All those jobs lost in the last 5 years are not coming back, because the same amount of work is being performed by fewer people.

And all those jobs touted in the last month are simply crap. Notice the media left off the phrase "seasonally adjusted"? I drove by Sears today, which has a big "hiring" banner on their building. Those are minimum wage service sector jobs that will be gone after Christmas. That's your economic recovery touted before an election.

[Aratus]

mitt's mittsters think BHO's win dipped the dow