Obamas speech just ended and now the market is down 500

[007]

BARACKALYPSE NOW..... Stocks fall AS HE SPEAKS!


Dow Skids 600, Worst Day Since Credit Crisis


Published: Monday, 8 Aug 2011 | 5:00 PM ET
By: JeeYeon Park
CNBC.com Writer

Stocks took a sharp nosedive in another choppy day Monday to finish at session lows as investors fled from risky assets following S&P's downgrade of U.S.'s credit rating last week in addition to ongoing economic jitters.

The Dow Jones Industrial Average plunged 634.76 points, or 5.55 percent, to finish at 10,809.85, well below the psychologically-significant 11,000 mark. The move marks the blue-chip index's biggest point and percent drop since Dec. 1, 2008.

News Headlines

 

[J.E.D]

I didn't say you brought him up but to even try and pin this on Bush is retarded. Obama should have taken his job seriously, instead he figured he would pass a few shit policies and retire with the "I was President of the US" notch on his belt... He never thought he might have to actually lead on anything... Or wait, Obama's version of leading is giving a speech about how bad Republicans are...

Obama turned into the biggest Washington insider since the term was conceived. Now Obama wants to pretend he wanted spending cuts LOLz!

Obama offered 4 trillion in cuts in exchange for a tiny amount of revenue increases. But the Tea Party walked away from that deal and decided to go for less cuts with no revenue increases. Yeah, they really are that stupid.

First off I doubt that is true and second of all the only Obama budget that I know of got 0 votes in the Senate, that means Dems said no, not the TP on it's own... So give me a link to this magical Obama bill and the votes and where the TP votes were what fucked it or I'll assume you're making shit up.

There was no bill. Are you that stupid? There was a framework for a deal reached between Obama and Boehner. Obama offered trillion in cuts in exchange for a little revenue. Boehner agreed. But then the Tea Party said no. So instead of 4 trillion, they got 1.5 trillion. It's pretty common knowledge. Try reading sometime....with your head removed from your ass this time. And anyway, Boehner said he got 98% of what he wanted, so I guess he was pretty happy with the 1.5 trillion that you're now bitching about.

 

[Remodeling Maidiac]

BARACKALYPSE NOW..... Stocks fall AS HE SPEAKS!


Dow Skids 600, Worst Day Since Credit Crisis


Published: Monday, 8 Aug 2011 | 5:00 PM ET
By: JeeYeon Park
CNBC.com Writer

Stocks took a sharp nosedive in another choppy day Monday to finish at session lows as investors fled from risky assets following S&P's downgrade of U.S.'s credit rating last week in addition to ongoing economic jitters.

The Dow Jones Industrial Average plunged 634.76 points, or 5.55 percent, to finish at 10,809.85, well below the psychologically-significant 11,000 mark. The move marks the blue-chip index's biggest point and percent drop since Dec. 1, 2008.

News Headlines

It was the 6th worst one day loss in US history.

 

[J.E.D]

Did the Hussein complain that he inherited a AAA rating from Bush?

The AAA rating that Bush's reckless spending helped downgrade to AA+?

Oh come on!!! Lol! It's been almost 3 years since obama took over, he's had all this time to do SOMETHING to prove himself and that has helped our economy at all...he hasn't! He waited until just weeks before the default deadline to even START talks, and he KNEW these talks were not going to be easy! He could have started them months ago....he's incompetent and should be impeached!

You're clueless. The debt ceiling has been a routine vote since...well, always. The GOP turned it into a political football. It's not the POTUS's responsibility to raise the debt ceiling, it's Congress's responsibility. Get back to me when you have a clue.

 

[L.K.Eder]

It's at -500.11 right now. This would have never happened if Palin was president. We would be prospering under her.

hilarious shit right up there.

 

[Full-Auto]

The AAA rating that Bush's reckless spending helped downgrade to AA+?

Oh come on!!! Lol! It's been almost 3 years since obama took over, he's had all this time to do SOMETHING to prove himself and that has helped our economy at all...he hasn't! He waited until just weeks before the default deadline to even START talks, and he KNEW these talks were not going to be easy! He could have started them months ago....he's incompetent and should be impeached!

You're clueless. The debt ceiling has been a routine vote since...well, always. The GOP turned it into a political football. It's not the POTUS's responsibility to raise the debt ceiling, it's Congress's responsibility. Get back to me when you have a clue.

Weve never had this level of debt. Interest payments will exceed DOD spending. You get the clue.

 

[Avorysuds]

Obama offered 4 trillion in cuts in exchange for a tiny amount of revenue increases. But the Tea Party walked away from that deal and decided to go for less cuts with no revenue increases. Yeah, they really are that stupid.

First off I doubt that is true and second of all the only Obama budget that I know of got 0 votes in the Senate, that means Dems said no, not the TP on it's own... So give me a link to this magical Obama bill and the votes and where the TP votes were what fucked it or I'll assume you're making shit up.

There was no bill. Are you that stupid? There was a framework for a deal reached between Obama and Boehner. Obama offered trillion in cuts in exchange for a little revenue. Boehner agreed. But then the Tea Party said no. So instead of 4 trillion, they got 1.5 trillion. It's pretty common knowledge. Try reading sometime....with your head removed from your ass this time. And anyway, Boehner said he got 98% of what he wanted, so I guess he was pretty happy with the 1.5 trillion that you're now bitching about.

So you have no proof, good work!

Bonehard might have got 98% but Obama got 100% being he signed it into law... That is how history will remember it, not your BS way. You sign it, you own it... That's the rules.

I'll bet you anything the deal that passed was agreed to and written before all this started lol.

Or wait, I'm supposed to believe that Obama had 4 trillion in cuts but decided to cut that back to 2 trillion in cuts just because he didn't get 400 billion in taxes? Do you even listen to yourself? Why didn't he just drop the raising taxes (not that he ever planed on raising them) and go with the cuts? Instead Obama held the country hostage and caused a downgrade and you're good with that? Crazy times lol.

 

[Remodeling Maidiac]

Obama offered 4 trillion in cuts in exchange for a tiny amount of revenue increases. But the Tea Party walked away from that deal and decided to go for less cuts with no revenue increases. Yeah, they really are that stupid.

First off I doubt that is true and second of all the only Obama budget that I know of got 0 votes in the Senate, that means Dems said no, not the TP on it's own... So give me a link to this magical Obama bill and the votes and where the TP votes were what fucked it or I'll assume you're making shit up.

There was no bill. Are you that stupid? There was a framework for a deal reached between Obama and Boehner. Obama offered trillion in cuts in exchange for a little revenue. Boehner agreed. But then the Tea Party said no. So instead of 4 trillion, they got 1.5 trillion. It's pretty common knowledge. Try reading sometime....with your head removed from your ass this time. And anyway, Boehner said he got 98% of what he wanted, so I guess he was pretty happy with the 1.5 trillion that you're now bitching about.

Why do you keep ignoring the FACT that Obama changed the deal after the deal was struct? Make your argument inconvienent for you?

 

[Avorysuds]

The AAA rating that Bush's reckless spending helped downgrade to AA+?

Oh come on!!! Lol! It's been almost 3 years since obama took over, he's had all this time to do SOMETHING to prove himself and that has helped our economy at all...he hasn't! He waited until just weeks before the default deadline to even START talks, and he KNEW these talks were not going to be easy! He could have started them months ago....he's incompetent and should be impeached!

You're clueless. The debt ceiling has been a routine vote since...well, always. The GOP turned it into a political football. It's not the POTUS's responsibility to raise the debt ceiling, it's Congress's responsibility. Get back to me when you have a clue.

And you got your way, the debt ceiling was riased and you get to deal with what that came with, credit downgrading...

 

[Avorysuds]

First off I doubt that is true and second of all the only Obama budget that I know of got 0 votes in the Senate, that means Dems said no, not the TP on it's own... So give me a link to this magical Obama bill and the votes and where the TP votes were what fucked it or I'll assume you're making shit up.

There was no bill. Are you that stupid? There was a framework for a deal reached between Obama and Boehner. Obama offered trillion in cuts in exchange for a little revenue. Boehner agreed. But then the Tea Party said no. So instead of 4 trillion, they got 1.5 trillion. It's pretty common knowledge. Try reading sometime....with your head removed from your ass this time. And anyway, Boehner said he got 98% of what he wanted, so I guess he was pretty happy with the 1.5 trillion that you're now bitching about.

Why do you keep ignoring the FACT that Obama changed the deal after the deal was struct? Make your argument inconvienent for you?

It is amazing to watch...

He wants to get the fact that Obama held the country hostage and put it all on the TP, that's his entire goal and he is failing, hell most americans don;t agree with him and as time goes on that number will only grow.

 

[hortysir]

The AAA rating that Bush's reckless spending helped downgrade to AA+?

Oh come on!!! Lol! It's been almost 3 years since obama took over, he's had all this time to do SOMETHING to prove himself and that has helped our economy at all...he hasn't! He waited until just weeks before the default deadline to even START talks, and he KNEW these talks were not going to be easy! He could have started them months ago....he's incompetent and should be impeached!

You're clueless. The debt ceiling has been a routine vote since...well, always. The GOP turned it into a political football. It's not the POTUS's responsibility to raise the debt ceiling, it's Congress's responsibility. Get back to me when you have a clue.

Just like it's Congress's responsibility to pass a budget??

But instead of doing that they just continued to spend us into oblivion and got all pissy when the people that were elected to reign in spending had the balls to stand up and say "No" to giving them yet *another* blank check to run to the mall with all their friends.

 

[Full-Auto]

Oh come on!!! Lol! It's been almost 3 years since obama took over, he's had all this time to do SOMETHING to prove himself and that has helped our economy at all...he hasn't! He waited until just weeks before the default deadline to even START talks, and he KNEW these talks were not going to be easy! He could have started them months ago....he's incompetent and should be impeached!

You're clueless. The debt ceiling has been a routine vote since...well, always. The GOP turned it into a political football. It's not the POTUS's responsibility to raise the debt ceiling, it's Congress's responsibility. Get back to me when you have a clue.

Just like it's Congress's responsibility to pass a budget??

But instead of doing that they just continued to spend us into oblivion and got all pissy when the people that were elected to reign in spending had the balls to stand up and say "No" to giving them yet *another* blank check to run to the mall with all their friends.

They said NO? What were they thinking?

 

[hortysir]

You're clueless. The debt ceiling has been a routine vote since...well, always. The GOP turned it into a political football. It's not the POTUS's responsibility to raise the debt ceiling, it's Congress's responsibility. Get back to me when you have a clue.

Just like it's Congress's responsibility to pass a budget??

But instead of doing that they just continued to spend us into oblivion and got all pissy when the people that were elected to reign in spending had the balls to stand up and say "No" to giving them yet *another* blank check to run to the mall with all their friends.

They said NO? What were they thinking?

One time that it's okay to be called "the party of no"

 

[Wicked Jester]

Well, it's like a S$P representative stated.......Had Cut, Cap and Balance been passed, the dowgrade would have never happened.

Stupid friggin' democrats!

 

[Zoom-boing]

President Obama Again Refuses to Accept any Responsibility, Offers No Deficit Reduction Plan

The president opened his remarks, nearly an hour behind schedule, highlighting Warren Buffet’s confidence in the economy. That’s a fallacious appeal to authority and tells us nothing about what the president would do to right our ship. The president went on to once again blame the Japanese tsunami and the Arab Spring for our bad economy. That marks at least the fourth time the president himself has blamed these specific outside events for a moribund economy that predates them both.

The president then blamed gridlock, and called for more tax hikes on the rich and “modest” reforms to Medicare. He then appealed to the proposals put forth by the deficit commission that he set up, and whose recommendations he ignored.

The president then slammed “drawing lines in the sand” and refusing to compromise — but it was his own line in the sand, to push the next debt ceiling discussion past the 2012 elections, that made last week’s debt deal more difficult to reach. He actually decried others’ lines in the sand, but not his own. He also decried a lack of plans, when he has yet to offer a single concrete plan to reduce the deficit.

Stumbling through his remarks at times, the president once again called on Congress to do things he has called for in the past: Extending the payroll tax breaks, and yet more stimulus spending on roads and bridges and the like. The former is a good idea but will not on its own stimulate the economy; the latter will lead to yet more government spending and debt.

President Obama mouthed words about “how we respond to tests” is the measure of our strength. It’s worth taking a look, then, at his own responses since becoming president. He proffered one budget that was so unserious it was voted down in the Senate, 97-0. Since then he has consistently cast blame on others and outside events while offering no plans of his own, and in response to the clearly awful performance of his economic team, has not fired any single individual.

The PJ Tatler » President Obama Again Refuses to Accept any Responsibility, Offers No Deficit Reduction Plan

Great, an opinion piece from a far-right webrag. that's credible.

Everyone is realizing what a sham Obama has turned out to be. Stop whining.

 

[Wicked Jester]

First off I doubt that is true and second of all the only Obama budget that I know of got 0 votes in the Senate, that means Dems said no, not the TP on it's own... So give me a link to this magical Obama bill and the votes and where the TP votes were what fucked it or I'll assume you're making shit up.

There was no bill. Are you that stupid? There was a framework for a deal reached between Obama and Boehner. Obama offered trillion in cuts in exchange for a little revenue. Boehner agreed. But then the Tea Party said no. So instead of 4 trillion, they got 1.5 trillion. It's pretty common knowledge. Try reading sometime....with your head removed from your ass this time. And anyway, Boehner said he got 98% of what he wanted, so I guess he was pretty happy with the 1.5 trillion that you're now bitching about.

Why do you keep ignoring the FACT that Obama changed the deal after the deal was struct? Make your argument inconvienent for you?

In fact, Obama stated outright that he he would provide the proof that he didn't change the deal. Stated it straight to the american people during one of his prime time hissy fits just a lil' over a week ago.

Funny but, he never provided the proof. Never provided the documents he swore he had. Never said another word about it......The man is such a lying lil' lowlife, it's disgusting.

 

[ABikerSailor]

You know.........the market GAINED over 200 points today.

I'd wait before jumping to assumptions.

 

[ABikerSailor]

There was no bill. Are you that stupid? There was a framework for a deal reached between Obama and Boehner. Obama offered trillion in cuts in exchange for a little revenue. Boehner agreed. But then the Tea Party said no. So instead of 4 trillion, they got 1.5 trillion. It's pretty common knowledge. Try reading sometime....with your head removed from your ass this time. And anyway, Boehner said he got 98% of what he wanted, so I guess he was pretty happy with the 1.5 trillion that you're now bitching about.

Why do you keep ignoring the FACT that Obama changed the deal after the deal was struct? Make your argument inconvienent for you?

It is amazing to watch...

He wants to get the fact that Obama held the country hostage and put it all on the TP, that's his entire goal and he is failing, hell most americans don;t agree with him and as time goes on that number will only grow.

Actually, there were several times that Boehner and Obama had deals that were going to go through, but the teabaggers threw a fit over revenue increases.

In a balanced budget, you've got BOTH revenue and debt. We're trying to "balance" the economy by using only 1 side of the equation, resulting in imbalance.

It's the teabaggers that held the economy hostage.

 

[Remodeling Maidiac]

You know.........the market GAINED over 200 points today.

I'd wait before jumping to assumptions.

I ain't jumping to anything. We lost 10k in our investments yesterday. As Obama likes to say "I got skin in the game" u?

 

[Avatar4321]

You know.........the market GAINED over 200 points today.

I'd wait before jumping to assumptions.

How many times does history have to repeat itself before we learn from it?