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Post-Election Retreat: Dow Plummets Below 13K for First Time in 2 Months

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mont974x4

New Member
We should be expecting this, and worse. There is simply no way we can survive this level of spending and this debt load. Get ready for inflation like we have never seen before. What is coming will make the Great Depression look like a bull market.
 
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Revmitchell

Well-Known Member
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mont974x4 said:
We should be expecting this, and worse. There is simply no way we can survive this level of spending and this debt load. Get ready for inflation like we have never seen before. What is coming will make the Great Depression look like a bull market.
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And all for material gain and race. He is black and he will give the people free stuff.
 
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mont974x4

New Member
It is not racist to point out that other people did vote for Obama because he is black. Those voters would be the racist ones. It is also not racist to point out that many people voted for Obama because of the promise of "free" stuff. How many news reports are there of people supporting him because of "Obama money" or "Obama phones" and the like.

Those are the facts. People vote with their wallet. Some vote for the man who will support them keeping more of their money in their own wallet. Others will vote for the man who promises to give them someone else' money whether it be extended unemployment, healthcare, food stamps, etc.
 
InTheLight

InTheLight

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It is also not racist to point out that many people voted for Obama because of the promise of "free" stuff.
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Well it is racist to say "he is black and [because of that] he will give the people free stuff."

mont974x4 said:
How many news reports are there of people supporting him because of "Obama money" or "Obama phones" and the like.
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I saw Obama phones on Drudge and Hannity and heard about it on Andrew Wilkow. Again and again and again and again. But nowhere else.
 
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mont974x4

New Member
You claimed he was racist and got called on it. The reality of the situation was explained to you and you make excuses. You sure you're not an Obama fan?
 
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Revmitchell

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InTheLight said:
Well it is racist to say "he is black and [because of that] he will give the people free stuff."
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I never said that. You need to go back and read, carefully, what I posted. And in the future before accusing someone of something like that it will be helpful if you ask for clarification rather than jump on the accusatory bandwagon.



I saw Obama phones on Drudge and Hannity and heard about it on Andrew Wilkow. Again and again and again and again. But nowhere else.
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http://www.youtube.com/watch?v=tpAOwJvTOio
 
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Matt Black

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The stock market tumble yesterday has far more to do with the markets' fears about the Eurozone crisis than it does with the US election result. What markets don't like is uncertainty eg: a re-run of the 2000 Presidential election where the outcome was in doubt for weeks. Fortunately that didn't happen this time.
 
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Revmitchell

Well-Known Member
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No banks and energy companies were the biggest sell offs yesterday. The concern is the national debt. It is becoming more and more clear we are headed in the way of Greece.
 
Crabtownboy

Crabtownboy

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Matt Black said:
The stock market tumble yesterday has far more to do with the markets' fears about the Eurozone crisis than it does with the US election result. What markets don't like is uncertainty eg: a re-run of the 2000 Presidential election where the outcome was in doubt for weeks. Fortunately that didn't happen this time.
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Compared to Europe the US is booming. Over the last four years unemployment has risen in Europe. In the US it is declining. We are doing well considering the circumstances around the world. If China slows down, as is very likely, it will be even more difficult for the US or any other country to advance economically.

But you are right, the market moved on fears of continued decline in Europe. News came out yesterday that was bad news for any company doing business with Europe. The projections of the European economy were not good.

 
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Matt Black

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Yes but your 'boom' (and it is all relative) has been in part financed by money the government doesn't have, and the day of reckoning is fast approaching...
 
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Revmitchell

Well-Known Member
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Now that the 2012 race for the White House is in the books, the spotlight on Wall Street is shifting from a major political question mark to a more monumental fiscal one that threatens to cripple the stock market, send unemployment above 10% and drive the U.S. into a double-dip recession.

Greeted with essentially the exact same political landscape they went to bed with, investors sent the Dow plummeting more than 300 points on Wednesday amid concerns renewed political gridlock will force the U.S. off the looming fiscal cliff.

The gloomy mood on Wall Street underscores the fact that President Obama isn’t in store for a honeymoon to kick off his second term and highlights the near-term challenges facing both the domestic economy and equity markets.

“The economy will be on hold until the fiscal cliff is addressed,” David Joy, chief market strategist at Ameriprise Financial (AMP), wrote in a note. “Longer-term, the economy will limp along until whatever budget deficit deal we're going to get, if any, is done. If no deal is made, the economy will struggle.”

Read more: http://www.foxbusiness.com/investin...al-fears-hover-over-us-outlook/#ixzz2BcpEBZwA
 
Crabtownboy

Crabtownboy

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Revmitchell said:
The reports are also that health insurance took a big hit yesterday as well.
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Let's be honest about this. All stock market sectors declined yesterday .........

All 10 sectors in the broad Standard & Poor's 500 stock index were sharply lower. Hardest hit were the financial and energy sectors, which lost 2.7% and 2.5%, respectively.
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The health care sector lost, but hospital stocks in that sector gained.

Hospital stocks were big gainers, as investors see Obama's health care law as positive. HCA, a large hospital operator, gained nearly 10%.
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And high dividend stock, while they went down, fared well.

Dividend plays hurt less than feared. In a somewhat surprising reaction, shares of companies with the highest dividend yields, namely utilities and telecom, weren't hurt as much as some expected. President Obama's financial plan would raise the tax rate paid on dividends by couples that earn more than $250,000 a year, making dividends paid to those taxpayers by utilities and tlecom companies potentially less attractive.

But despite the Obama win, shares of utilities and telecom stocks were down 1.9% and 0.5%, respectively, less than the broader market.
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All the quotes came from: http://www.usatoday.com/story/money/markets/2012/11/07/obama-win-sectors-react/1688925/


By the way Rev. I would never go to Fox, MSNBC, NBC, ABC for accurate information on the stock market. That would be a route for disaster to your account.
 
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saturneptune

New Member
Stocks go up and stocks go down. Mutual funds are much safer. If one is not willing to look at equities as long term, and abide by the buy low, sell high rule, and keep the emotion out, then one should be in bonds, government treasuries, CDs or cash.
 
webdog

webdog

Active Member
Site Supporter
Matt Black said:
The stock market tumble yesterday has far more to do with the markets' fears about the Eurozone crisis than it does with the US election result. What markets don't like is uncertainty eg: a re-run of the 2000 Presidential election where the outcome was in doubt for weeks. Fortunately that didn't happen this time.
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The global economy is tied to the US economy
 
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