Obama Speaks & DOW Tumbles !!!

Today at noon; With his nose stuck high in the air, Obama went on the attack from the Rose Garden. Minutes after Congress approved $2.3 Trillion in new debt (Obama checkbook); he laid out his spending spree and demands for more taxes !

The markets responded quickly. The DOW dropped, dropped and continued to drop. We are back to square 1 with taxes and spending ! Wall Street knows that Obama is bad news for the economy.

Whirlaway speaks and IQ's tumble. News at 6.

At noon today, before Obama's rose garden rant, the DOW was down at 118 and showing signs of rebounding. However, as Obama ended his spending lecture, the DOW reversed advances, and plummeted to a negative 265 close for the day !!!!!!!

The passage of this "package" will be looked upon a defeat for those associated with the Tea Party, because they failed to carry out the mandate that the voters gave them in November.

But the biggest defeat will be for the US Economy. Why? Because It's business as usual now, and that is what got us in this mess in the first place.

Good Grief, even Vladimir Putin said that the USA had better get a grip on it's borrowing ways, or Russia, and perhaps China, would start looking elsewhere for securities.

I saw a political cartoon the other day where a couple of Russians were looking at a news paper where the headline read, "Obama ends USA's Manned Space Flights." The caption read, "look, we won afterall".

It is the same with our economy. We defeated the 'Evil Empire" by the sure might of the American Economy, and Leaders willing to use it.. Now, we have an old KGP Thug lecturing us on our bad economic ways.

And our response. More of the same.

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REMINDS ME OF CHRIS BROWN! ha! ha! ha! ha! ha! ha! ha! ha! ha! ha! ha!

one more

Finally, some of the wing nuts on here are correct, albeit for the wrong reason. As Paul Krugman, a Nobel Prize winning economist, pointed out, the deal on the deficit cap is a stunning failure:

It will damage an already depressed economy; it will probably make America’s long-run deficit problem worse, not better; and most important, by demonstrating that raw extortion works and carries no political cost, it will take America a long way down the road to banana-republic status.

http://www.nytimes.com/2011/08/01/op...ef=paulkrugman

http://www.youtube.com/watch?v=R2sdGmbLNwY

Today at noon; With his nose stuck high in the air, Obama went on the attack from the Rose Garden. Minutes after Congress approved $2.3 Trillion in new debt (Obama checkbook); he laid out his spending spree and demands for more taxes !

The markets responded quickly. The DOW dropped, dropped and continued to drop. We are back to square 1 with taxes and spending ! Wall Street knows that Obama is bad news for the economy. Originally Posted by Whirlaway

Whirly, you and your mentor Marshy, remind me of the nursery rhyme character Chicken Little! You both run around yelling repeatedly that "the sky is falling!"

Now we just need to figure out which one of you is Chicken Little #1 and Chicken Little #2! Since you appear to be Marshy's understudy, I vote for you to be #2!

Please excuse me for a moment, I need to go take a #2!

If Paul Krugman thinks it's a bad idea, maybe there is some saving grace to this thing after all. Paul Krugman deserved the Nobel prize about as much as Obama did. The Nobel prize commission now has as much credibility as CBS News.

I can't recall the category, I think it was "The Nobel Prize for the Biggest Money Scam".

So what's the headline today?

Obama Goes to Work, Dow Rises!

Whoa!! Quoting or paraphrasing Krugman is an affront to any serious economist. The Nobel committee (Actually the Swedes do the economics prize) lost most of their credibility in the 90s and despite the occasional good choice have continued to politicize the award and pass over deserving candidates. No serious economist views Krugman as more than a shill for the far left. Krugman understands less about job creation than Pelosi/Obama/Reid. When asked last year the public/private sector divosor, he did not know. Go back to the 1960s and read some economic papers by a guy named Robert Reich. Yep. Clinton's Secretary of Labor. In the late 60s, Reich was a stellar young economist. Probably headed to a Nobel Prize one day. Actually some of his co-authors back then have won. Then Reich let his politics get in the way and started saying crazy stuff like "Let's raise the minimum wage to create jobs" and "We can give away free health care and it will not hurt the economy". As an economist, his career was over. Fortunately, 1. He's a really nice guy personally. and 2. He met Clinton and got another job.
In economic circles, Krugman is a joke. He believes that jobs are created by the government.

Wong...when the consumer report was announced it was early on and the markets were beginning to recover from the bad news report..........then Obama hit the rose garden with his demands for more spending and tax increases....and the markets went down down down.....

Wong...when the consumer report was announced it was early on and the markets were beginning to recover from the bad news report..........then Obama hit the rose garden with his demands for more spending and tax increases....and the markets went down down down..... Originally Posted by Whirlaway

HEAVEN HELP US ALL!

THE SKY IS REALLY FALLING THIS TIME!

I hope your mentor is in a safe haven!