Traders caught on to something other than the recession this morning. That's why it is going down.
Submitted: Feb 5, 2008
Views: 790
Comments: 9
Likes: 2
The stock market has priced in a housing recessions, subprime slime and all of it. Yet today, we had our biggest one-day fall in almost a year. All of the so-called experts are going to tell you that this fall was due to recession-level readings in the service sector. They are wrong.
The truth is that everybody had braced themselves for a recession, even a significant one.
What nobody has braced themselves for, and what traders saw when they left to a ride on the New York subway this morning, is the likelihood of a B. Hussein Obama / Osama Presidency. Traders this morning saw that, even a city that should no better than anywhere else the danger of a weak president who wants to run from Islamic extremism, this cult of personality is gaining quickly. While they had priced in a recession, nobody until today has braced themselves for a incompetent president which has proven to be nothing but a cult of personality and the danger that such an idiot could cause in the post 9/11 world.
If Obama does well tonight (and I believe he will), we are going much lower.
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Comments Received:
John
(Unregistered)
I agree. He is unknown and unknowable and therefore a real danger to the markets.
Posted: Feb 5, 2008
Jerry Green
(Unregistered)
It gives me a wonderful feeling to believe that we live in a country that could elect a black man President. But, it makes me sick to my stomach to think that we live in a country that could fall for this Iran-backed cult. I know that many on Wall Street share my view.
Posted: Feb 5, 2008
bigj
(Unregistered)
Anybody will be better than Bush. Checked the federal deficit lately? Used to be a surplus. $2 trillion wasted in Iraq... borrowed $800B from China just to give a tax break to the top 1%. Yeah, let's get the govt off our backs - like any regulation of sub-prime? Anymore of that Republican governance and we are broke.
Posted: Feb 5, 2008
Dustydog
(Unregistered)
It's the oil people. Any time oil increases 100% YOY, we get recession. look it up.
Posted: Feb 5, 2008
Tonger
(Unregistered)
Obama can't be any worse than Bush. That being said, I didn't vote for him. It turned me off that Oprah thinks she can pick the next President. She can pick books, not Presidents.
Posted: Feb 5, 2008
Fernando
(Unregistered)
Your thesis is ridiculous. The market is tanking because Bush and the Fed killed the economy.
Posted: Feb 5, 2008
Mark
(Unregistered)
Obama is smart (won't that be nice for a change?), energetic and sincere about attacking our economy's many problems. We need someone who has charisma, honesty and the ability to gather bipartisan support. We need extreme change fast, or this boat will be sinking. The same old s___ won't cut it anymore.
What we don't need is shallow, knuckle-dragging mentality accusing him of being a wacko extremist member of a cult.
Posted: Feb 6, 2008
Charley
(Unregistered)
Mark,
The uniBomber was supposedly "Smart".
So how did that help with his decision making?
Obama has promised to be a Surrender Monkey Track Star.
Posted: Feb 6, 2008
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