Funny how DJIA is tanking again after Obama elected

[Anonymous]

Down 10% since he was elected ... coincidence or not???

[Anonymous]

It's the biggest 2-day drop of ALL TIME. Hmm.

[Anonymous]

Totally not his fault. It's the Jobs report - nothing can beat bad news like that.

[Anonymous]

Anonymous wrote:Down 10% since he was elected ... coincidence or not???

Well, considering who's "in charge" of money - big corporations, etc. - it does make sense. Republicans are fearful . . . and depressed . . .

[jsteele]

Humm, maybe I should sock puppet a thread. Then, I can be just like you.

(referring to the first two posts. You other guys type too fast for me to keep up).

[Anonymous]

The October job loss reports are about to hit and they are bad. Unemployment is one of the last and deepest indicators of recession even beyond housing and quarter earnings. We can't attribute this to the election. I fear November and more so December is going to be really, really bad resulting from what occurred earlier. When the big boom hit several weeks ago people were scared but it was 'only' hitting them in their 401K and ability to get a car loan. As companies not only run out of money but desperately try to increase their cash reserves to survive even leaner times you will start seeing more and more lay offs. This wasn't caused by either Obama or McCain but Obama will have to deal with it when he takes office.

[Anonymous]

Not a sock puppet jsteele -- first 2 posts were consistent -- added the second post after I heard the stat on CNBC. Happy to disclose post 1 and post 2 are the same poster.

[Anonymous]

Anonymous wrote:The October job loss reports are about to hit and they are bad. Unemployment is one of the last and deepest indicators of recession even beyond housing and quarter earnings. We can't attribute this to the election. I fear November and more so December is going to be really, really bad resulting from what occurred earlier. When the big boom hit several weeks ago people were scared but it was 'only' hitting them in their 401K and ability to get a car loan. As companies not only run out of money but desperately try to increase their cash reserves to survive even leaner times you will start seeing more and more lay offs. This wasn't caused by either Obama or McCain but Obama will have to deal with it when he takes office.

My point exactly. No matter who was elected on Tuesday, you can't change those numbers and the previews were out Tuesday afternoon. You absolutely cannot blame Obama for the DJIA drop.

[Anonymous]

But Bush and the republicans are blamed for everything? Seems like there is an Obama double standard. Trust me, I understand the other factors at play but I have a feeling that if McCain won, it would be blamed on him. (For fear of being called a sock puppet, OP here).

[Anonymous]

Anonymous wrote:But Bush and the republicans are blamed for everything? Seems like there is an Obama double standard. Trust me, I understand the other factors at play but I have a feeling that if McCain won, it would be blamed on him. (For fear of being called a sock puppet, OP here).

Now I did say "No matter who was elected". There is plenty of blame to go around in the current economic crisis, to Dems and Republicans. I'm just saying the drop would have been the same because of the Job Loss Report preview numbers.

[Anonymous]

I agree with 16:27 - but the MSM cannot help it, they love Obama. I wish him the best myself, but know deep down that if McCain had won the headlines would all read MARKET CONFIDENCE SHATTERED BY A GOP WIN

[Anonymous]

Didn't earnings reports come out? As expected retail sales were down for the 3rd quarter. The Wall Street Republicans cannot buy their new Mercedes & Beemers. We have an all-time high unemployment rate of 6.1%. This is the result of an 8 year Republican administration. Puh-leez.

[Anonymous]

Anonymous wrote: We have an all-time high unemployment rate of 6.1%.

Hate to break it to you, but 6.1% unemployment, while clearly high, is NOT an all time high by any means.

Don't believe me? Here are the rates by month for the last approximately 75 years.

http://www.miseryindex.us/urbymonth.asp

[Anonymous]

Anonymous wrote:But Bush and the republicans are blamed for everything? Seems like there is an Obama double standard. Trust me, I understand the other factors at play but I have a feeling that if McCain won, it would be blamed on him. (For fear of being called a sock puppet, OP here).

I know much blame is placed upon Republicans, which seems unfair. But I'll share a short story with you. The other night, a Republican pal (yes, we're crossing party lines here!), who's former military, visited. Guess what? He voted for Obama. When I asked him why, he said, "In the past, I've voted to benefit me. For the first time in my life, I'm voting so that the country can benefit." his exact words

Capitalism is great, but it's based on greed. In terms of job loss, can't we safely place partial blame on outsourcing b/c labor is cheaper? And who benefits from the fruits of a 14 year old's labor?

big business

owned by a Ben & Jerry liberal type? probably not

[Anonymous]

The impact of the credit crunch is beginning to factor through to the real economy.

House prices are down and falling, stock prices are down, and financing is hard to obtain. consumers will slash spending. Bad news from the real economy will put further pressure on share prices. This is the start of a global recession. Things are going to get much worse before they get better.

Nothing to do with the election result, I am afraid.