THIS IS WHY YOU DO NOT ELECT A COMMUNITY ORGANIZER WHO HAS NO EXECUTIVE EXPERIENCE AND LEADERSHIP SKILLS
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 FAILED … AND 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.
Nero Obama plays golf while the American economy burns … What is wrong with this President? Seriously, I am beginning to think Obama has serious mental issues, or he just does not give a flying rats butt about America. The United States has never had a more out of touch president. Former President Bill Clinton used to say “he felt our pain”, Obama could care less.
President Barack Obama, a Democrat, enjoys spending time on the golf course on Andrews Air Force Base, which is nearby Camp David. Regardless of circumstances, Obama loves to play golf. The U.S. stock exchanges are plunging and the S&P has just downgraded the credit rating of United States federal government debt. So, how does the President respond to recent developments of the Obama Depression? He plays golf.
For the first time ever under any US President, America’s triple A credit rating was downgraded by S&P. Prior to that the US markets suffered a 500+ point implosion. The unemployment rate continues to by greater than 9% and the GDP is beyond anemic. Now S&P warns that there might be a second downgrade.
Yet another round of golf while the American economy implodes. What’s the matter, was there no fund raiser to attend? Soon to be announced will be another vacation for Obama. After all, he has done so much hard work destroying the US economy, I guess he feels he has earned it.
It is obvious that that America will never turn around until Obama is out of office.
Best line of the Obama golf obsession comes from Doug Ross, “Neither rain, nor snow, nor market declines, nor debt rating downgrades, nor chopper crashes shall keep President Obama from his tee time”.
Calls for Treasury Secretary Geithner to resign, but who should replace him?
As the US economy flounders, continues to be an abysmal failure and the US credit rating for the first time ever was downgraded by S&P, there are calls by many for the Treasury Secretary Tim Geithner to resign. GOP Presidential candidate and House Rep. Michele Bachmann has demanded that Barack Obama ask for Geithner’s resignation. Bachmann had voted against the debt limit bill that virtually did nothing to control spending and deal with the paying down the debt. Add US Senator Jim DeMint (R-SC) to the list as well.
VIDEO Hat Tip: Gateway Pundit
“This president has destroyed the credit rating of the United States through failed economic policies and his inability to control government spending… President Obama is destroying the foundation’s of our economy one beam at a time. I call on the president to seek the immediate resignation of Treasury Secretary Tim Geithner and to submit a plan with his list of cuts to balance the budget this year, turn the economy around and put our people back to work.”
It is obvious that Barack Obama, Tim Geithner and the rest of “The One’s” economic teams policies, philosophies and agendas have failed in a major way. So much that most all of Obama’s economic team has left office. Even Obama’s former economic adviser Christine Roemer has stated that we are “pretty darn F*CKED”. Geithner is one of the few original economic advisers that remain from Obama’s original clan, it is time for his misguided ways to go. Remember back in April 2011 when Geithner said, as reported at The Hill, “there is no chance that the U.S. will lose its top credit rating.” He could never have been more wrong.
Remember this Promise from Obama: If Debt Ceiling Limit Deal Passed … It Would Avert a US Economic Crisis
President Barack Obama and his minions pounded the drum that if the debt ceiling crisis was averted with a deal to raise the debt limit, that it would bring stability to the markets and business.
REALLY MR. PRESIDENT?
August 2 came, D-day for the raising of the debt limit where the sky was supposed to fall, the bill was signed into law to raise the debt limit and guess what … stocks fell 256 points!!! What happened to the stability? Obama claimed that the raising of the deb limit to prevent the elderly from not getting their social security checks would sooth the markets and the economy. Barack Obama was once again wrong on the subject matter. Didn’t Obama tie job creation and the economy to the debt ceiling? The Lonely Conservative asks a similar question … “wasn’t the debt deal supposed to save the economy?”It can’t be a coincidence that the markets plummeted on the day that Obama signed the bill into law under the cloak of darkness as no one wanted to be associated with this “sugar coated Satan sandwich”.
The Dow Jones Industrial Average tumbled 265.87 points, or 2.2%, to 11866.62, on Tuesday. The blue-chip index’s eighth consecutive decline marks its longest losing streak since October 2008. It has lost 6.7% during the skid, dating back to July 22.
Obama and his minions also told us that a bipartisan deal would prevent the US credit rating from falling? WRONG AGAIN BARACK. Credit agency Moody’s presently has outlook for the U.S. grade is now negative. Why? Because the debt ceiling deal did nothing to change the spending habits or really address paying down the debt in any serious manner. It’s not just Moody’s who has an issue and a negative view of the US debt, its all of them. Thanks again Barack Obama.
Moody’s Investors Service and Fitch Ratings affirmed their AAA credit ratings for the U.S. while warning that downgrades were possible if lawmakers fail to enact debt reduction measures and the economy weakens.
The outlook for the U.S. grade is now negative, Moody’s said in a statement yesterday after President Barack Obama signed into law a plan to lift the nation’s borrowing limit and cut spending following months of wrangling between Democratic leaders and Republican lawmakers.
It was said by GOP leaders that the debt deal was the best that they could get since they only controlled the House and Democrats controlled the US Senate and the Presidency. If America is serious about paying down the debt and its future, Obama and the Democrats must be thrown out of office in 2012. It is obvious that Obama’s policies are failures and his agenda is far too LEFT for the United States. It is obvious that Obama was and is the lest qualified individual ever to be President and is the worst ever. The only person in America who is happy today is former “misery index President Jimmy Carter.
The issue is not just the debt increase and out of control spending, its the continued poor jobs creation and no growth in the economy. But wait, Obama has reassured the people that he is back focused on jobs. WHAT A COMFORT.
2012 cannot come fast enough.
Gallup Poll Now Has Obama Under Water in Job Approval, 45% Approve – 46% Disapprove … Now Stock Market Falls
More bad polling data for “The One”.
Add the Gallup poll to a list of many that have President Barack Obama’s job approval under water and trending downward. The most recent Gallup poll has Obama’s job approval at 45% approval, 46% disapprove. Obama finds himself under the 50% threshold that is most important for incumbents who are looking for reelection.
At Gallup to a myriad of polls, Rasmussen, Fox News, CBS, CNN, Quinnipiac and ABC/WAPO that all have Barack Obama under 50% approval rating and trending down. Obama’s “Bin Laden” bounce is obviously done and now Obama will face the ramifications of a poor economy and no jobs.
UPDATE I: With gas prices high, unemployment rising and the number of new first time unemployment claims rising as well … add a falling stock market to the list as the Dow Jones Industrial Average closes below 12000 for the first time since mid-March. The NASDAQ is now has turned negative for the year. Thanks President Obama.
The Dow industrials sank 172.45 points, or 1.4%, to 11951.91, the sixth straight week of declines. The Standard & Poor’s 500-stock index shed 18.02, or 1.4%, to 1270.98. That broad index also has notched six weeks of declines, the longest losing streak since 2008.
Two closely watched stock indexes turned negative for the year Friday. The Nasdaq Composite Index fell 41.14, or 1.5%, to 2643.73. The small-capitalization Russell 2000 fell 13.10, or 1.7%, to 779.54.