Yes, the Dow is falling, but to make matters much worse: All the non-obsolete, non-irrelevantly narrow stock indices are dropping as well. :eek:
Politics in America have become a joke. There is ony one imperative - partisan mudslinging. At a time when politicians should be working together to try and dig the U.S. out of this mess, there is nothing but finger pointing and hyper-inflated rhetoric, like that which we see in the thread title. Republicans don't have a corner on this type of thing, either. Does anyone seriously think that a McCain administration would have put forward a significantly different package? John McCain said this week that GM should be allowed to fail. Yeah, right. If he were in power, he would have been talking a bailout plan just like Obama (not that it's a good idea, it obviously stinks). P & R is boring these days. The hysteria from the extreme right about Obama this Obama that Obama is the devil Obama is going to ruin America Obama isn't a US citizen Obama is a black fool is way beyond laughable. The current situation is a result of events that built steam over the past 15 years. The liquidity crisis in America's banks is Obama's fault? I'm not a huge fan of some of his decisions and his 'team' turns out to be a pretty ragged crew, but these threads are a joke. Sure will be interesting to wait 10-15 years and see if America holds her position as what, 25% of world GDP?
Politics in America have become a joke =============== That's the truth. I preferred the financial side of life as contained insanity, a spy vs spy, with a more interesting subject matter, the manipulation of money with politics as a sideshow, But since this crisis, all the politicians are moving out front trying to out guru the next. Schumer talking about naked shorting, Obama talking P/E...............God help us .........................
Atleast it is not as bad as what the liberals in Canada are doing, in a time of peril our 2 liberal parties are actually trying to OVERTHROW the government which Canadians support.
Obama sat in the room as Fannie Mae was "blackmailed" into giving out loans to people who could not afford to pay them. Watch the video posted on this page by jficiquette: http://www.elitetrader.com/vb/showthread.php?s=&postid=2339437#post2339437 <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/usvG-s_Ssb0&hl=en&fs=1"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/usvG-s_Ssb0&hl=en&fs=1" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>
I completely disagree. Obama really believes that what he's doing is best for this country. He's naive, ignorant, and dangerous because of it, but he's not a terrorist.
"Best for the country" might be overstating it. Best for turning the country into what he wants, which is a muslim Venezuela, yes.
As of today the S&P has dropped 33% since it first heard that Obama was going to president on the night of the election. That's roughly the same as the 35% drop from the peak in 2007 until that night. Obama's 'aura' has managed the same magnitude drop in 4 months what it took Bush a year to do. It will be interesting to see if 4 November 2008 marks the high water mark for the age of Obama. The Dow went straight down a 1000 after that day, not a good sign, but we have to give it time.