Worst Inauguration Day Selloff In History

[delldude]

...I am sure all who were captured and went to the prisons were guilty as charged.

If I pick you up on a street in a bad neighborhood and hold you for 5 years and give you no chance to explain your actions...what say you?

Different issue.......Totally.

Geneva conventions.....war.........unlawful combatants not covered under Geneva Accords.

Do not qualify as prisoner of war either.....whose flag do they fight under?

Covered under laws and customs of war....not Habeas Corpus.

No miranda.....


UCMJ..............

 

[dapoes]

The worst January performance in 113 years.

More pointedly, key political victories for the Team Obama spending plan have not been viewed as buying opportunities on Wall Street.

The only thing guaranteed by the spending stimulus is more national debt. One stroke of the presidential pen has now increased it by $800 billion.

In January it was forecast by the Congressional Budget Office at $1.2 trillion. Pres. Obama’s new plan now ups that to $1.7 trillion. If W got the gold, the new Administration has landed the Platinum in just its qualifying heat.

 

[dapoes]

 

[delldude]

Ever stop to think that the reason the stock market is in the tank is because the economy is headed that way like a jail on wheels?

Yeah.....that and no faith in the new kids on the block.

 

[Seatacus]

Dell, I agree the stock markets have no faith in this plan :down:


Hey Piney- maybe I missed it, but what is the spirit of Crazy Horse? Just askin'

 

[delldude]

Dell, I agree the stock markets have no faith in this plan :down:


Hey Piney- maybe I missed it, but what is the spirit of Crazy Horse? Just askin'

Seatacus................the next monument in South Dakota......Crazy Horse Memorial.

Check it out

With all the crap that was funded in the bill..............if the Big 'O' wants to reverse eons of discrimination among US citizens....some funding to this would have been a great gesture to the Indian Nation.

 

[Garfield1966]

Seatacus................the next monument in South Dakota......Crazy Horse Memorial.

Check it out

With all the crap that was funded in the bill..............if the Big 'O' wants to reverse eons of discrimination among US citizens....some funding to this would have been a great gesture to the Indian Nation.

From what I remember reading, the Crazy Horse Memorial is not accepting any Federal/State or city funds. It is all from private donations. I beliee the father who started the sculpture passed away a while ago and his sons have taken up the cause.

 

[Gilding the Lily]

Best video response of the mortgage bailout bill from CNBC Squawk Box

I watch Santelli almost every weekday morning, mostly because he is on CNBC every morning a few minutes after the markets open, and because he is Chicago based (as I am). I watched that program that day -- mainly to hear from Wilbur Ross -- and was lucky enough to catch Sentelli's soapbox live. It was quite entertaining and I agreed with much of what Ross said... and what Santelli essentially repeated but in a "revolutionary" way.

Man, sometimes I just wonder if the White House is purposefully trying to allow the market to tank a bit... perhaps just a little bit more of fear will allow them to accomplish some other items on the checklist. Friday, the White House criticized Santelli (and thereby criticized Ross) for the media rant saying, in part, that Santelli “doesn’t know what he’s talking about.â€￾ On top of that, Obama continues the whole "underpromise and then overdeliver" routine. That's fine and dandy, but until the man on top starts showing optimism, the market likely will not (including the market of main street).

 

[dapoes]

Maybe it was Obamas weekend announcement of "Raise Taxes, Cut Military Spending, Cut Deficit"

The strategy of raising taxes, even on "the rich" seems to an odd one to pursue in the midst of a recession. The Obama administration would boost the top marginal tax rate from 35 percent to 39.6 percent on income, the capital gains tax from 15 percent to 20 percent, and would maintain the estate or death tax at 45 percent on estates worth more than $35 million. The Obama administration also promises more vigorous tax enforcement and will tax the incomes of hedge fund managers at the income tax rate rather than the capital gains rate.

Of course all of this means is that small businesses and other entrepreneurs are going to get soaked at a time when the economy depends on them to help raise it out of recession. It is a dubious proposition at best. Furthermore, harassment by the IRS will be stepped up. People should be ready for more audits, with all that implies.

Second, Barack Obama proposes to lower defense spending in the midst of a war. It is true that one might expect that the war in Iraq will begin to cost less as it is winding down. Barack Obama should publicly thanks his predecessor George W. Bush for not listening to Obama and executing the surge that made that possible. But at the same time, the war in Afghanistan will start ramping up, with more troops being deployed to suppress the terror campaign by the Taliban and Al Qaeda.

Soooo monday comes around and....looks like more cliff diving

Dow 7,114.78 -250.89 (-3.41%)
S&P 500 743.33 -26.72 (-3.47%)
Nasdaq 1,387.72 -53.51 (-3.71%)

"The Dow is reflective of the national mood," she says. "Right now the mood is very pessimistic and signals a negative outlook and a lack of confidence."

Wall Street gave the government's $787 billion stimulus package signed into law by Obama last week a chilly reception, arguing that it was long on so-called pork spending and short on programs that would provide a quick shot of adrenaline to a worsening economy.

"There was a belief that the stimulus would be enough to get things back on track, but now there are growing doubts that is the case," says Jack Ablin, chief investment officer at Harris Private Bank.

Heading into the year, investors were optimistic that the Obama team could come up with the right fix, but much of that hope has been dashed. Statistics from Wilshire Associates illustrate the eroding optimism: Since the original stimulus package was passed by the House on Jan. 28, the Dow Jones Wilshire 5000 index has fallen 11.5%, or $1.2 trillion, and its U.S. Banks index is down 34.3%.

 

[dapoes]

Obama Math:


Current Deficit 1.3 Trillion
But....Obama wants to put the pay-as-you-go rules into law and has a goal of reducing the deficit to $533 billion in fiscal year 2013, according to an administration official. Thats a difference of 767 bilion. What was the final tally on the porkulous??? $790 billion. WTF is wrong with this picture? :blink:

 

[Seatacus]

I remember last Fall when many were counting the days left of the Bush administration. I hope everything is going as great as you thought it would . Those of you who had such high hopes seem to be silent in your joy that Obama is in charge. Cat got your tongue???????

 

[delldude]

Lily said:
Man, sometimes I just wonder if the White House is purposefully trying to allow the market to tank a bit... perhaps just a little bit more of fear will allow them to accomplish some other items on the checklist.

You can't have rich middle class Americans with all that money in 401k's and have a successful socialist state you know.

Seatacus said:
I remember last Fall when many were counting the days left of the Bush administration. I hope everything is going as great as you thought it would . Those of you who had such high hopes seem to be silent in your joy that Obama is in charge. Cat got your tongue???????

Glad I wasn't the only one that noticed....the silence is deafening

I haven't heard from Freedoom lately.....Dow going into 6000 this week...where's he at...in a padded cell somewhere?

KC Flyer seems rather quiet too...... :huh:

Caveat Emptor

 

[Seatacus]

Glad I wasn't the only one that noticed....the silence is deafening

I haven't heard from Freedoom lately.....Dow going into 6000 this week...where's he at...in a padded cell somewhere?

KC Flyer seems rather quiet too...... :huh:

Caveat Emptor

Could it be they are a little embarassed? :unsure: Maybe we should start using funny names for the president, like someone used to do for President Bush (remember El Chimpo). I am not going there, but just think of all of the choices if you have a notion to do that....

 

[Garfield1966]

I think it may have something to do with the fact that it took years of neglect to get us into this mess and most folks realize it will take far more than 2 months to get out. I seriously doubt we have even hit the bottom of the crisis.

 

[Seatacus]

I think it may have something to do with the fact that it took years of neglect to get us into this mess and most folks realize it will take far more than 2 months to get out. I seriously doubt we have even hit the bottom of the crisis.

How 'bout folks realizing that in less than two months a certain administration possibly has made things way worse than they need to be. It's probably easier to stop the crisis when its falling like a rock than when it is falling like a missile.