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August 08, 2011

Barack Obama Speaks and the Stock Markets Tanks 634 Points … Barackolypse

Posted in: 2012 Elections,Barack Obama,Economy,Lost in Smallness,Obamanation,Obamanomics,Presidential Election,Stock Market


Barackolypse NOW ... Guess what Barack … the buck stops with you!

Once again President Barack Obama is historic … Stock market suffers largest drop since 2008 as the markets were in free fall following Friday’s US credit downgrade by the S&P. Since Friday’s downgrade, Obama has been AWOL and had never said a word regarding the situation. Of this did not stop Obama from playing golf over the weekend. Once again Obama has shown a complete lack of leadership. Finally after three days of silence, Barack Obama decided to speak and comment on the S&P’s downgrade to reassure America … HE FAILEDAND THE STOCK MARKETS WENT INTO FREE FALL.

The Dow Jones industrial average fell 634 points, or 5.6 percent, and the Standard & Poor’s 500- stock index dropped 6.7 percent, the biggest retreats since December 2008 in the midst of the financial crisis, accelerating a sell-off that began a couple of weeks ago. The S.& P. 500 is now down 18 percent from its April 29 peak and is nearing official bear market territory, defined as a fall of 20 percent.

Today’s 634 point loss in the stock market was the 6th worst loss in US history.  I guess Obama felt the need to beat the 10th worst loss of 524 points earlier this month on 8-4-11. With the leadership and skill that Barack Obama has shown in handling the economy, he will not be happy until he is the owner of the number one worst loss in history. We could see this coming like an impending tsunami as the markets in Asia, Israel and Europe were tanking from Friday’s S&P downgrade … then it hit the US.

How is it that a President could be so clueless and obtuse when it comes to the economy? It it intentional? To be honest, there is no way that Obama does not know what he is doing is not helping America and is destructive to the United States. It has to be intentional on Obama’s part.President Obama addressed the country today and the debt problems and said nothing. Had no substantial ideas and offered nothing. How can a President wait three days and still have no clue what to say? Three days and Obama provides a useless speech where the world saw just how much of a colossal joke this president truly is.

Perceptions that Washington is incapable of addressing the problems of rising debt and slowing growth have contributed to the selling. This was underlined by selling that accelerated during a statement from President Barack Obama that offered few concrete ways to resolve the fiscal and economic problems.

At Knight Capital in Jersey City, one of the biggest trading venues in the United States, the atmosphere grew more heated as losses accelerated into the close. After the bell, traders huddled in groups, staring at their computer screens and discussing the day’s actions.

“It’s scary, it really is,” said Joseph Mazzella, senior equity trader, who had been watching the market’s intraday low as a support level. “I hate it when the market closes below its low, as it sets the stocks up for a follow-through tomorrow.”

After all this, Obama still has no new answers nor direction to help the US economy. Instead he offered the same tired tax and spend plan. OBAMA MUST GO!

As stated at Weasel Zippers … its a total bloodbath! Say goodbye to the 2012 election Obama … after today, you are toast and your days are numbered.

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