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Thread: The Obama Dump

  1. #1
    Master Skeptic Brian4Liberty's Avatar
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    Default The Obama Dump

    Obama is victorious, and the markets are responding by selling off.


    An Early 300-Point Plunge Pulls Dow Back Below 13,000


    Stocks plunge after election; Europe woes deepen

    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul




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    Member Zippyjuan's Avatar
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    Some think this is more a reaction to Europe than a reaction to Obama. European markets were down by a similar amount. The US political concern is the threat of the "financial cliff" if budget reductions cannot be agreed on by the end of the year and the basic players in the budget battle (which engaged in brinkmanship on the Debt Ceiling debate) are the same- Obama president, Democratic Senate with Republicans enough to fillibuster and a Republican House. Nothing really changed.

    http://www.huffingtonpost.com/2012/1...n_2088108.html

    Stock Markets Slide As Europe Slashes Its Growth Forecast
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    Quote Originally Posted by Zippyjuan View Post
    Some think this is more a reaction to Europe than a reaction to Obama.
    Lol! Now that is funny. Europe has been a disaster for years. This was about Obama.

    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul


  5. #4

    Default The Market Sell-Off has Begun

    300 points off the DOW so far. With capital gains going up (up to 20 percent) and with the regulatory noose tightening in a myriad of sectors, expect the sell-off to be steady until the end of the year. Some analysts are speculating an end of the year S&P 500 of 1250.
    Last edited by AuH20; 11-07-2012 at 11:30 AM.
    “Our illegal population alone exceeds the all the Irish, Jewish and British immigrants who came. Each year, we catch more people breaking in at the border than all the Swedes and Norwegians who came to America in 200 years. Half a million illegal aliens succeed in breaking in every year, more than all the Greeks or Poles who came legally from the Revolution to 1960..” - Patrick J. Buchanan

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    Member Zippyjuan's Avatar
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    Currently moving back up- DOW is up 100 from its low for the day.
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    gold at a 3 week high

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    I hope silver explodes, I have a ton of it.
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    “Our illegal population alone exceeds the all the Irish, Jewish and British immigrants who came. Each year, we catch more people breaking in at the border than all the Swedes and Norwegians who came to America in 200 years. Half a million illegal aliens succeed in breaking in every year, more than all the Greeks or Poles who came legally from the Revolution to 1960..” - Patrick J. Buchanan

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    Politically nothing changed. Congress is the same. President the same. It was not unexpected that Obama would probably win. No- I don't think that was the main reason for the drop. The focus is now on Europe's issues and the Fiscal Cliff. Those are big uncertainties about the future and markets hate uncertainty.
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    This sounds like less war the next 4 years.

    That's a very good thing!

    -t
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    Our military is not defense ... it is warmongering and empire building.
    Government police do not protect ... they control.
    Regulations do not regulate ... they protect the status quo.
    Government banks do not distribute money based on effort ... it is gifted to close friends ... and some of it trickles down.

    The result is war, poverty, fear, chaos, and hopelessness for most people with abundance for a few elite.
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    Master Skeptic Brian4Liberty's Avatar
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    Quote Originally Posted by Zippyjuan View Post
    Politically nothing changed. Congress is the same. President the same. It was not unexpected that Obama would probably win. No- I don't think that was the main reason for the drop. The focus is now on Europe's issues and the Fiscal Cliff. Those are big uncertainties about the future and markets hate uncertainty.
    Nothing has changed with regard to Europe. Your talking point is all over the left media today. Sorry, this was a reaction to Obama being elected, there is little doubt about that. Investors were mad, and some of them sold in protest. Purely political.

    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul


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    Member Zippyjuan's Avatar
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    Interesting. Europe just downgraded their forcasts for the future- that led to the European exchanges losing 1.5% or more and the US market followed their lead. Even the so- far powerhouse Germany is being effected.

    http://www.boston.com/news/world/eur...BCM/story.html

    EU: Eurozone recession to be worse, rebound slower



    BRUSSELS (AP) — Europe’s economy is still reeling and unemployment could remain high for years despite the progress made in solving the debt crisis, the European Union warned Wednesday, as it downgraded next year’s forecasts for the 27-country bloc.


    The European Commission, the executive arm of the EU, on Wednesday revised down its forecast for the region’s gross domestic product, which it now expects to grow by just 0.4 percent in 2013, compared to its expectations this spring of 1.3 percent growth.


    The commission had previously expected the 17 countries that use the euro to find its footing next year, with 1 percent growth. Now it predicts only a 0.1 percent uptick.


    The report also suggests that unemployment won’t start falling until 2014 — and then only slightly.


    ‘‘Europe is going through a difficult process of macroeconomic rebalancing and adjustment, which will last for some time still,’’ Olli Rehn, the EU’s economic and monetary affairs commissioner, told reporters. ‘‘Market stress has been reduced but there is certainly no room for complacency.’’


    The downbeat forecast helped erase an initial euphoria in markets over President Barack Obama’s re-election, with France’s CAC-40 stock index and the DAX in Germany both down 1.5 percent in afternoon trading Wednesday.
    The commission’s report also confirms that the crisis is not sparing even Germany, Europe’s largest economy and the traditional motor for growth.


    It predicted that Germany would eke out just 0.8 percent growth in 2012, compared with its earlier forecast of 1.7 percent. ECB President Mario Draghi warned Wednesday that ‘‘the latest data suggest that these developments are now starting to affect’’ the German economy.
    Last edited by Zippyjuan; 11-07-2012 at 01:46 PM.
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    Master Skeptic Brian4Liberty's Avatar
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    Quote Originally Posted by Zippyjuan View Post
    Interesting. Europe just downgraded their forcasts for the future- that led to the European exchanges losing 1.5% or more and the US market followed their lead. Even the so- far powerhouse Germany is being effected.
    Yeah, right. And if the DOW jumped up 350 points today then CNN (and you) would be claiming it was the Obama bump.

    There is bad news out of Europe on a daily basis. Nothing new there.

    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul


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    Also bear in mind that it was up over 130 points yesterday- with odds makers predicting an Obama victory. Retracing that takes out half of today's fall. It does not really matter what stocks do in one day (unless they majorly collapse) but what they do over time.

    Stocks have done pretty well under Obama. When he took office on January 20, 2009 the DOW was just under 8,000 (granted this was after the economy had collapsed and was starting to improve). A 62% increase to date. If you want to credit what stocks do to Obama (which is giving him far more credit than he deserves- I would not credit him with that or today's numbers). The market was down that day as well (also over 300 points). http://daytradingstockblog.blogspot....ck-market.html
    Last edited by Zippyjuan; 11-07-2012 at 02:19 PM.
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    Quote Originally Posted by Zippyjuan View Post
    Also bear in mind that it was up over 130 points yesterday- with odds makers predicting an Obama victory. Retracing that takes out half of today's fall. It does not really matter what stocks do in one day (unless they majorly collapse) but what they do over time.

    Stocks have done pretty well under Obama. When he took office on January 20, 2009 the DOW was just under 8,000 (granted this was after the economy had collapsed and was starting to improve). A 62% increase to date. If you want to credit what stocks do to Obama (which is giving him far more credit than he deserves- I would not credit him with that or today's numbers). The market was down that day as well (also over 300 points). http://daytradingstockblog.blogspot....ck-market.html
    Of course, much of the money creation is going into the major market indexes, artificially propping them up. Thank Bernanke and the Fed for that.

    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul


  19. #18

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    All stock markets are *slightly* in the red today. The general trend has been after large sell off days (yesterday) a large green day follows. It looks like stock markets are rolling over.

    It is very, very telling that precious metals are holding steady and slightly up, while stocks are down a lot. It is inevitable (perhaps not imminent) that the two assets diverge, and it may be occuring now.
    Last edited by Seraphim; 11-08-2012 at 10:32 AM.
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