Biggest % Drop Post-Election in History

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PapaG

PapaG

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DJIA off to a rip-roaring start!

Plus my company announced a pretty large lay-off this morning!

Let's get this party started! :ghoti:
 
I have to say that being in the "it's not my fault" position will have its benefits over the next 4 years.

No need to defend anyone; it's all the other guy's fault when scat hits the fan! :devilwink:
 
PapaG said:
I have to say that being in the "it's not my fault" position will have its benefits over the next 4 years.

No need to defend anyone; it's all the other guy's fault when scat hits the fan! :devilwink:
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I wonder how long the Democrats will continue to blame Bush for everything that goes wrong in the Obama administration? I put the over/under at 30 months.
 
maxiep said:
I wonder how long the Democrats will continue to blame Bush for everything that goes wrong in the Obama administration? I put the over/under at 30 months.
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Most likely it will be very similar to how long the Republicans claim credit for anything that goes right as being a delayed reaction to Bush policies.

Since everything that went wrong under Bush was Clinton's fault, I think we are looking at about 8 years of Bush blaming.

Or we could just cut out the middleman and continue to blame Clinton, I guess.

barfo
 
PapaG said:
I have to say that being in the "it's not my fault" position will have its benefits over the next 4 years.

No need to defend anyone; it's all the other guy's fault when scat hits the fan! :devilwink:
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Seems that's what you've maintained for the last 8 years also.

Is it ever your fault?
 
maxiep said:
I wonder how long the Democrats will continue to blame Bush for everything that goes wrong in the Obama administration? I put the over/under at 30 months.
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I guess we'll never know.
 
The budget deficit for Obama's first year in office will be $1.5T.

Stunning.
 
I'm sure credit will be given to Obama for "cutting" that deficit to $500B or $600B the following year. When the bailout money won't be part of the deficit.
 
Obama is a clueless boob. Socialism, here we come! I can't wait until we all have to wear the same uniforms to work every day, and eat the same food, and sleep in little sleep-pods at night. And have you heard that he is going to paint the white house black?? hahahahahaha
 
DJIA only down 256 so far today. Great news!!
 
PapaG said:
DJIA only down 256 so far today. Great news!!
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i know, our president should really be held accountable for this.

oh yeah, he is the reason the gop just suffered a horrible 2 year election record, so i guess he was held accountable.

gotta love it, bush winning his second term was the worst thing that could have happened to the gop. but i guess he doesnt care, as long as the war factories keep cranking out death machines.
 
ppilot said:
Those tend to happen when you are in the beginning stages of a deep economic and financial recession.
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Not to mention a 10% increase in your capital gains tax...
 
It's profit taking from the surge the Dow Jones had on Tuesday.
 
Shapecity said:
It's profit taking from the surge the Dow Jones had on Tuesday.
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Tuesday was the last chance to make a profit for a while. May as well wait and see if the Dems really will increase the capital gains tax, as they are promising to do. I'll wait until it drops further before I feel comfortable buying into any blue chips at a bargain.
 
Oh, this is fun. -326 and falling!
 
hoojacks said:
Huh. I didn't realize Obama was sworn in as soon as he was elected.
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The market reacts to the future after an election.

Hold on to your pennies...you're going to need them.
 
PapaG said:
Oh, this is fun. -326 and falling!
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Funny, I never saw you blame Bush in the last couple of months when the dow would drop over twice as much. Many many days of big drops and not one post by you about how that is Bush's fault. Hmmmm
 
it's_GO_time said:
Funny, I never saw you blame Bush in the last couple of months when the dow would drop over twice as much. Many many days of big drops and not one post by you about how that is Bush's fault. Hmmmm
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That was because of the Fannie/Freddie mess, and I posted plenty of videos of DEMOCRATS disregarding the regulators sounding the alarm bells. I also didn't see anyone patting Bush on the back when the DJIA was over 14k last year.

Regardless, the market is reacting to the election right now. If you don't like this fact, I suggest you disregard this thread.
 
Obama is clearly the most powerful president ever. He is already impacting the stock market and he hasn't been inaugerated yet! Man, are we all fucked. What were we thinking?
 
PapaG said:
That was because of the Fannie/Freddie mess, and I posted plenty of videos of DEMOCRATS disregarding the regulators sounding the alarm bells. I also didn't see anyone patting Bush on the back when the DJIA was over 14k last year.

Regardless, the market is reacting to the election right now. If you don't like this fact, I suggest you disregard this thread.
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Or it could be reacting to the fact the economy is getting worse, the fact the GM (who is reporting earnings tomorow) is going to need a government loan (along with the other big three) just to stay in business, or the fact that the Jobless rate is going to be highest its been in ten years. But hey, I am sure that Obama caused all of this.

Forgot to add that our industrial production has the biggest percentage decrease this year than in almost 40 years.
 
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ppilot said:
Or it could be reacting to the fact the economy is getting worse, the fact the GM (who is reporting earnings tomorow) is going to need a government loan (along with the other big three) just to stay in business, or the fact that the Jobless rate is going to be highest its been in ten years. But hey, I am sure that Obama caused all of this.

Forgot to add that our industrial production has the biggest percentage decrease this year than in almost 40 years.
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Obama has been in the Senate for four years and has been a part of a majority in both sides of Congress for 2 years. Has he been saving his plans until things got REALLY bad? :dunno:

"There is no challenge we can't meet." Lots of promises, let's call Congress into session NOW and get on some answers before we are all out of jobs.
 
PapaG said:
Obama has been in the Senate for four years and has been a part of a majority in both sides of Congress for 2 years. Has he been saving his plans until things got REALLY bad? :dunno:

"There is no challenge we can't meet." Lots of promises, let's call Congress into session NOW and get on some answers before we are all out of jobs.
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Well a majority isn't worth much if a president can veto at will and the minority can filibuster as long as they want. Apparently you haven't been paying attention the last four years. Prior to that the president passed almost everything he wanted when the republicans had the majority in the first term.
 
I wouldn't expect PapaG to be intelligent about these things, because he hasn't really shown any intelligence at all during the last 6 months while he's been bitching and complaining about anything not Republican. Not surprising that he's jumping all over this news as a chance to bash Obama as some sort of "I told you so" - as if John McCain winning would have had any different effect, with almost 70% of voters saying they trusted Obama on the economy more than they trusted McCain.

This is simply the continued volatility from a deep, bruising recession that isn't going away any time soon. I suggest you read the following from the Associated Press: http://www.oregonlive.com/business/oregonian/index.ssf?/base/business/122594372743120.xml&coll=7

"The market has really gotten ahead of itself, and falsely priced in that this recession wasn't going to be as prolonged as thought," said Ryan Larson, head of equity trading at Voyageur Asset Management, a subsidiary of RBC Dain Rauscher. "Regardless of who won the White House, these problems are not going away.

"We're in a really bad recession, period," he added. "People are locking in profits and realizing we're not out of the woods."
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-Pop
 
SodaPopinski said:
Not surprising that he's jumping all over this news as a chance to bash Obama as some sort of "I told you so" - as if John McCain winning would have had any different effect, with almost 70% of voters saying they trusted Obama on the economy more than they trusted McCain.

-Pop
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70% of the voter's opinions have almost nothing to do with the stock market. The effect is very little considering most stock is institutionally owned. Also, we can turn around the talking point that you love to use: 5% of the population owns most of the wealth (stocks), so most of those 70% of voters have no impact.

The majority of voters have no idea what they are talking about, and Obama's plans don't affect them, it affects the people that actually can influence the market: businesses and those with larger investments. Guess who may get hurt the most. The middle class who had significant amounts of their retirements and worth in the market as it plunges.


PS. I'm not saying this recent plunge is a result of Obama winning. It is just silly to use the 70% stat as some indication that it will be true.
 
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