Worst Inauguration Day Selloff In History

[dapoes]

More overwhelming confidence for Obama.

 

[dapoes]

Since a majority of Americans first thought Barack Obama would be our President, on through his presidency, the DJIA has lost one third of its value. While correlation is not necessarily causation, the "Efficient Market" philosophy suggests Wall Street was rightly scared to death of him.

From May through September, as Candidate Obama's polls rose, the DJIA dropped accordingly.

On approximated October 3, 2008, when Candidate Obama crossed 50% in the polls, the Dow was at 10,325. As those poll numbers held up, the DJIA immediately factored in his win and dropped 18% during the week of Oct 17 and never recovered.

Blame it on the seized-up credit swap market if you like, but around October 3rd, when Candidate Obama crossed 50%, the market concluded he would be President and acted in its self interest.

 

[dapoes]

I would kindly request that you provide actual PROOF of cause and effect between the Obama victory and the decline of the stock market.

Fact is you can't.

To many variables dapoes. If the stock market were an accurate reflector of anything then why were certain airline stocks rising along with fuel?

Why back during the Bush administration did stocks dive on favorable unemployment numbers?

You can spout and insult all you like but you can not prove your case.

The proof is in my previous post evidenced by DJIA and Rasmussen. You just keep your head in the sand hoping it will go away, it wont.

 

[dapoes]

Oh it's NOT going away!

Obama's Stimulus package will fail and our great grandchildren will pay for his grand experiments failure.

The economy will rise or fall based upon the same business fundamentals it always has since capitalism began as an economic system.

The government can do something positive and that is to go through and streamline operations and remove roadblocks to growth and job creation and generally speaking that means lower not higher taxes.

Glad you finally see it my way. Moving forward, what Obama is doing is hindering and providing more roadblocks to get the US dependent on massive entitlement programs. This will change in 2012 when America has had enough and needs change as a policy and not as rhetoric.

 

[Gilding the Lily]

The proof is in my previous post evidenced by DJIA and Rasmussen. You just keep your head in the sand hoping it will go away, it wont.

Dapoes... uhm... there were numerous other things happening around October 3, 2008. Review this to see the craziness of Sept/Oct. As you note, "correlation is not necessarily causation". On October 3, 2008 the bailout bill was also signed by Bush... go figure. Since you are using October 3 as your correlation date, don't you think the bailout bill should be noted. And by the way, you could really pick anything that happened around October 3, 2008 and say that the market dropped 33% after that event. For example, October 3 is Ashley Simpson's birthday. According to your "rationale," it suggests that Ashley Simpson's birthday is responsible for the market's loss. I am not saying that lack of confidence in Obama's policies has not led to any declines, but your "conclusion" is faulty.

 

[Garfield1966]

That's obvious to everyone. Hows the sand taste?

OK, lets try this again. Try and think back to our conversation about the 401k. You post several links from what other people said Obama was going to do to the 401k. Now stick with me. We went back and forth for quite some time till you got it through your head that they were making things up and your links were not worth a cup of warm piss. You finally admitted that they and you were wrong. They fabricated information to scare people. THIS IS WHY I COULD CARE LESS WHAT OTHERS HAVE TO SAY ABOUT SOMETHING. Stop relying on others to do your work. It makes you look like a fool.

SO, lets try this again. YOU go to the EO or the Bill. YOU look though the document and find for me any suggestion that a bank should make bad loans to those who are not qualified. The intent was to allow those with limited economic means access to reasonable sums of money. The intent as not to give someone with a $20k income a $200k loan. The banks did this in order to make a buck and it back fired on them.

As for the collapse of the Dow. Here is how it breaks down.

Oct 12. 207 14,093
Oct 3 2008 10325 drop of 27%
Nov 7, 2008 8,943 drop of 37% total

Jan 2, 2009 9034
Mar 3, 2009 6755 drop of 27%

Now even if you take it from Oct 3 when you assume that Obama won the election before it even took place that amounts to a 34% drop which is less than the drop of 37% under Bush during his last year in office.

 

[Garfield1966]

Dapoes,

We can play the national debt game next if you would like. That should be really fun.

 

[dapoes]

OK, lets try this again. Try and think back to our conversation about the 401k. You post several links from what other people said Obama was going to do to the 401k. Now stick with me. We went back and forth for quite some time till you got it through your head that they were making things up and your links were not worth a cup of warm piss. You finally admitted that they and you were wrong.

Nothing fabricated here, just the facts.

They fabricated information to scare people. THIS IS WHY I COULD CARE LESS WHAT OTHERS HAVE TO SAY ABOUT SOMETHING. Stop relying on others to do your work. It makes you look like a fool.

They? You mean the democrats who shoved this policy down fannie and freddie's mouth? And then refused to do anything when when alarm bells were ringing? The only fool here is you.

SO, lets try this again. YOU go to the EO or the Bill. YOU look though the document and find for me any suggestion that a bank should make bad loans to those who are not qualified. The intent was to allow those with limited economic means access to reasonable sums of money. The intent as not to give someone with a $20k income a $200k loan. The banks did this in order to make a buck and it back fired on them.

The dems set those wheels in motion, and then refused to do anything prevent it. Go figure.

The data is clear and irrefutable. Your problem is obvious.

 

[dapoes]

Dapoes,

We can play the national debt game next if you would like. That should be really fun.

Like someone else said lately, battle of wits with someone (like you) who is unarmed is futile. Get back to me when your messiah Barack brings back your wealth and prosperity.

 

[Garfield1966]

Like someone else said lately, battle of wits with someone (like you) who is unarmed is futile. Get back to me when your messiah Barack brings back your wealth and prosperity.

You have not shown any EO or Bill that supports your hypothesis.

I put the numbers up that have shown (even with your bizarre dates) that the DOW has fallen more under Bush II than it has under Obama and you say I have a problem?

I sure hope you are pretty.

 

[southwind]

Think just because you don't make $250,000.00 a year , you won't pay higher taxes?

If you purchase one of the following, YOU will be paying more taxes! :blink:

Gas
Electricity
Natual gas
Heating oil

You won't pay on the front end, but you will pay on the ass-end !

Just part of "Obamanomics"!

 

[dapoes]

And the snowball continues...

The Obama Economy
As the Dow keeps dropping, the President is running out of people to blame.

As 2009 opened, three weeks before Barack Obama took office, the Dow Jones Industrial Average closed at 9034 on January 2, its highest level since the autumn panic. Yesterday the Dow fell another 4.24% to 6763, for an overall decline of 25% in two months and to its lowest level since 1997. The dismaying message here is that President Obama's policies have become part of the economy's problem.

Americans have welcomed the Obama era in the same spirit of hope the President campaigned on. But after five weeks in office, it's become clear that Mr. Obama's policies are slowing, if not stopping, what would otherwise be the normal process of economic recovery. From punishing business to squandering scarce national public resources, Team Obama is creating more uncertainty and less confidence -- and thus a longer period of recession or subpar growth.

The market has notably plunged since Mr. Obama introduced his budget last week, and that should be no surprise. The document was a declaration of hostility toward capitalists across the economy. Health-care stocks have dived on fears of new government mandates and price controls. Private lenders to students have been told they're no longer wanted. Anyone who uses carbon energy has been warned to expect a huge tax increase from cap and trade. And every risk-taker and investor now knows that another tax increase will slam the economy in 2011, unless Mr. Obama lets Speaker Nancy Pelosi impose one even earlier.

Market to Obama: I'm Just Not That Into You
The market barometer is now down a whopping 30 percent since Election Day, including an 18 percent drop over the past three weeks. That, even as President Obama's plans to stimulate the economy, fix the banking system and bailout struggling homeowners have come into sharper focus.

Mean Street: Obama’s Dow 5000
Unfortunately, it’s true. The stock market doesn’t like you.
Only one month in and investors are giving up. Another 30% haircut would put the Dow at 5000.
And that level wouldn’t just put a crimp into your presidency. The ensuing collapse in savings and the U.S. pension system would destroy it.

Now, some advisers may tell you not to worry about the stock market. That it will take care of itself. But that’s wrong. Especially today.

At its core, the market is a measure of belief — the belief that investors can make money by buying a slice of America.

And a plummeting Dow means they really don’t believe in the country. Or in you.

 

[tech2101]

And the snowball continues...

Wow, he has accomplished all of that in 6 weeks?

None of that was happening, or going to happen, prior to his taking the oath of office?

I know you are intelligent enough to know that the downward slide was going to continue for some time, no matter who took office.

If not, I guess I gave you more credit than you deserved.

I see you have no response to this post from yesterday.

I did give you more credit than you deserve.

Very sad. Go join Rush in your I hope he fails mantra...

 

[dapoes]

I see you have no response to this post from yesterday.

I did give you more credit than you deserve.

Very sad. Go join Rush in your I hope he fails mantra...

He took an obviously bad situation and made it worse, much worse. And people are obviously outraged. People where looking for "change" from the Bush administrations drunken spending, but now Obama has double downed the deficit in what a mere 60 days in office? If capitalism is suppressed by socialist agenda then we all lose. Capitalism create jobs, not government spending at the tax payers expense.

And so let me guess, you want him and his policies to succeed, even when they are doing long term damage to the entire economic system? Or are you just waiting for your entitlement checks to come to pay for your mortgage and fill up your gas tank?

Are you one that has the notion who is ready, willing and able to serve your president?

Or do believe that elected officials are supposed to serve the people and preserve liberty?

How much longer are you "hoping for change"?

ps: If Obama's policies fail at causing long term damage to the economy, then that's a good thing. You should want that as well for the preservation of your paycheck and your prosperity. Or again I ask: Are you just waiting for your entitlement checks to come to pay for your mortgage and fill up your gas tank?

 

[Gilding the Lily]

He took an obviously bad situation and made it worse, much worse. And people are obviously outraged.

Currently, Obama is very popular among Americans, scoring the highest "very positive" responses to date. With that said, however, Republican support (what little he had to start with) is shrinking. I think that has been readily apparent in the past couple weeks. So by "people"... it is mostly republicans. Take that for whatever you think it is worth.