Dow Down 900 Points In 2 Days

[JAMESBJOHNSON]

Here's whazzup. God told me.

Obama collected record income taxes tho employment is down. The money comes from ObamaCare fees.

If employment were UP gas usage would be UP. Its down. Less work and vacation driving.

The smart guys know low employment is driving sales down everywhere, just so the Mexicans and Nigger dudes can get free ObamaCare.

All the Obama bullshit adds up to a stock market crisis.

 

[thør]

Gotta blame Bush.

 

[RjThoughts]

Gotta blame Bush.

It has to be Obama. Wall Street is nervous he might come after them!

 

[4est_4est_Gump]

Gotta blame Bush.

It that's famous saboteur! General Republican Phil O'sophy...

 

[Ulaven_Demorte]

Someone's playing Checkers.

 

[NeverEndingMe]

It has to be Obama. Wall Street is nervous he might come after them!

your a fucking idiot

 

[NeverEndingMe]

if you had intelligence ... you would see that the obama economy is nothing more than smoke and mirrors.

at least hillary is going down ... off to prison

Someone's playing Checkers.

 

[someoneyouknow]

I don't see what the problem is. This is fantastic! With the unnatural run up in stocks things had gotten overpriced. A nice downturn is what is needed so I can buy more stock at a lower price.

 

[BoyNextDoor]

Most people with a brain understand it has to do with weeks of being force fed global economic instability stories. Specifically Greece and the paper tiger that is the Euro, China's GDP is shitting the bed and Oil oversupply driven by the US, Russia and the Middle East are causing a global market correction.

But sure. Let's blame the brown President of the US.

 

[4est_4est_Gump]

your a fucking idiot

It's you're a dummy...



Seriously, you are.

 

[4est_4est_Gump]

Most people with a brain understand it has to do with weeks of being force fed global economic instability stories. Specifically Greece and the paper tiger that is the Euro, China's GDP is shitting the bed and Oil oversupply driven by the US, Russia and the Middle East are causing a global market correction.

But sure. Let's blame the brown President of the US.

You forgot to mention the anticipated Fed action that many would submit will be the popping of the investment bubble it created. The markets reacted to Greece once already. Who can blame President Obama? He didn't know that China has been rattling the economic saber, threatening to end the US dollar as the de facto reserve and and oil currency and beginning a currency war by devaluing their currency (not to mention mass hacking attacks). He did not need to have any contingency plan in place.

No, the economic genius that "saved" the economy was completely taken unaware, so he is blameless and innocent. After all, Presidents don't control economies. There's not much they can do to head off disaster.



If you blamed George Bush and now you hold Obama harmless, well, there is a word for that. I've been talking about not only the building bubbles, but the very real threat that the Chinese were posing to us and the bubbles in the market and education, but I'm simply wrong because you know, AYN RAND!



It's a lot like the Bush Administration's efforts to fix the derivative problem being shouted down by a lisping Barney Frank scant months before the collapse...

Freddie and Fannie are sounder now than at any point in their existence!

Of course, he was getting his economic information from his boyfriend's fannie...

 

[Ishmael]

Or maybe the Fed finally admitting that they have NO arrows left in their quiver. Money for nothing.

Ishmael

 

[4est_4est_Gump]

Checks for free...



I see people who I usually respect writing on economy wringing their hands and bemoaning the lack of what Bastiat would call barricades to trade because Americans will enjoy cheaper goods coming out of China.

It really pisses me off when BOTH sides of the economic debate argue about how they are best equipped to manage a mixed economy because one side speaks the language of Mises, but offers calls to action straight from the sophist playbook while the other side has dropped the pretense and just wants socialism without the stigma of the label!

 

[4est_4est_Gump]

The New Left in America realized that it was neither necessary nor desirable to own the means of production as originally envisioned by Marx. Redistribution could be accomplished through progressive taxation that was enshrined by an enlightened Democratic Party. Corporate priorities could be redirected through sensational and biased media exposure, proxy contests, mass demonstrations, boycotts, activist lawsuits and regulatory actions. No need to be responsible for the means of production, when you could advance Marx’s anti-capitalist agenda from the sidelines by indicting individual corporations and the system of capitalism itself.

Scott S. Powell

http://www.americanthinker.com/arti...over_the_democratic_party_.html#ixzz3jdXEUXYj

Should I post the Maxine Waters quote?

 

[someoneyouknow]

It's a lot like the Bush Administration's efforts to fix the derivative problem being shouted down by a lisping Barney Frank scant months before the collapse...

No. Just no a thousand times. The Bush administration, and Republicans in general, fought every attempt to regulate the derivatives industry, or the financial industry as a whole except for Fannie and Freddie.

Instead, voices inside the administration who favored tougher policing of Wall Street found themselves with few supporters. William Donaldson, a former Wall Street executive with respected Republican credentials who became chairman of the Securities and Exchange Commission under Bush, quit in 2005 after facing resistance from the White House and Republican members of the panel, who criticized his support for stiffer regulations on mutual funds and hedge funds.

http://www.nytimes.com/2008/09/20/business/worldbusiness/20iht-prexy.4.16321064.html?pagewanted=all

In January of 2008, Hank Paulson, then head of the Treasury, stated the following in regards to derivatives:

"These contracts have done a lot to make the markets more efficient," Paulson told the U.S. House Financial Services Committee in answering questions after testifying on the need for widespread reforms in regulating financial markets.

http://www.reuters.com/article/2008/07/10/us-usa-economy-regulation-derivatives-idUSN1037771320080710

Further, Paulson apparently met secretly with Wall Street firms and discussed loosening regulations in regards to net capital rules.
http://www.forbes.com/sites/robertlenzner/2011/11/29/hank-paulson-and-the-wall-streetwashington-axis-of-power/

One doesn't make such meetings with approval or knowledge from those at the top.

Freddie and Fannie are sounder now than at any point in their existence!

Of course, he was getting his economic information from his boyfriend's fannie...

And yet the Bush administration, ignoring clear warning klaxons from regulators and even some state Attorney Generals, did nothing in regards to the mortgage fiasco, instead letting banks self-regulate.

“These mortgages have been considered more safe and sound for portfolio lenders than many fixed rate mortgages,” David Schneider, home loan president of Washington Mutual, told federal regulators in early 2006. Two years later, WaMu became the largest bank failure in U.S. history.

http://www.nbcnews.com/id/28001417/...t/bush-administration-ignored-clear-warnings/

http://www.bloomberg.com/bw/stories/2008-10-08/they-warned-us-about-the-mortgage-crisis

 

[4est_4est_Gump]

Edward Gibbon, the renowned historian, published his first of six-volumes of The Decline and Fall of the Roman Empire, in 1776, the year Thomas Jefferson penned the Declaration of Independence. Gibbon described six attributes that Rome embodied at its end: first, an overwhelming love of show and luxury; second, a widening gap between the rich and the poor; third, an obsession with sports and a freakishness in the arts, masquerading as creativity and originality; fourth, a decline in morals, increase in divorce and decline in the institution of the family; fifth, economic deterioration resulting from debasement of the currency, inflation, excessive taxation, and overregulation; and sixth, an increased desire by the citizenry to live off the state.

Scoot S. Powell

This paragraph would have gotten a standing "O" from Byron.

http://www.americanthinker.com/arti...over_the_democratic_party_.html#ixzz3jdYR8Sqs

 

[4est_4est_Gump]

But, Obama is not to blame for this mess...





He did not ignore the warning signs, he created a buying opportunity for too big to fail.

 

[JAMESBJOHNSON]

Checks for free...



I see people who I usually respect writing on economy wringing their hands and bemoaning the lack of what Bastiat would call barricades to trade because Americans will enjoy cheaper goods coming out of China.

It really pisses me off when BOTH sides of the economic debate argue about how they are best equipped to manage a mixed economy because one side speaks the language of Mises, but offers calls to action straight from the sophist playbook while the other side has dropped the pretense and just wants socialism without the stigma of the label!

What you miss is how so many show up at fist fights, with guns.

 

[4est_4est_Gump]

PS - The Times is not an objective source to lead with. I have an excellent book written about the whole episode by an economic beat reporter that I could recommend.

Though, in my experience, people will not read anything recommended that might counter deeply held political beliefs, we live in a google age. It is easier to find that which supports your bias.

 

[Ishmael]

No. Just no a thousand times. The Bush administration, and Republicans in general, fought every attempt to regulate the derivatives industry, or the financial industry as a whole except for Fannie and Freddie.

Instead, voices inside the administration who favored tougher policing of Wall Street found themselves with few supporters. William Donaldson, a former Wall Street executive with respected Republican credentials who became chairman of the Securities and Exchange Commission under Bush, quit in 2005 after facing resistance from the White House and Republican members of the panel, who criticized his support for stiffer regulations on mutual funds and hedge funds.

http://www.nytimes.com/2008/09/20/business/worldbusiness/20iht-prexy.4.16321064.html?pagewanted=all

In January of 2008, Hank Paulson, then head of the Treasury, stated the following in regards to derivatives:

"These contracts have done a lot to make the markets more efficient," Paulson told the U.S. House Financial Services Committee in answering questions after testifying on the need for widespread reforms in regulating financial markets.

http://www.reuters.com/article/2008/07/10/us-usa-economy-regulation-derivatives-idUSN1037771320080710

Further, Paulson apparently met secretly with Wall Street firms and discussed loosening regulations in regards to net capital rules.
http://www.forbes.com/sites/robertlenzner/2011/11/29/hank-paulson-and-the-wall-streetwashington-axis-of-power/

One doesn't make such meetings with approval or knowledge from those at the top.



And yet the Bush administration, ignoring clear warning klaxons from regulators and even some state Attorney Generals, did nothing in regards to the mortgage fiasco, instead letting banks self-regulate.

“These mortgages have been considered more safe and sound for portfolio lenders than many fixed rate mortgages,” David Schneider, home loan president of Washington Mutual, told federal regulators in early 2006. Two years later, WaMu became the largest bank failure in U.S. history.

http://www.nbcnews.com/id/28001417/...t/bush-administration-ignored-clear-warnings/

http://www.bloomberg.com/bw/stories/2008-10-08/they-warned-us-about-the-mortgage-crisis

The derivatives were the result, or reaction, to the problem, not the source of the problem itself. The Bush administration started issuing warnings concerning Freddie and Fannie as early as 2003. Loose credit policy initiated during the Clinton administration (Which the NY Times actually warned Clinton not to do in a Dec. 23rd 1992 editorial) caused the financial sector to be flooded with 'for shit' loans given to people with questionable credit. The Community Reinvestment Act initiated under Carter gave the Clinton admin. the tools they needed to force those loans.

Once that pile of for shit mortgages was in the system the system had to off load them in some manner. They couldn't bundle the crap paper altogether because no one in their right mind would underwrite. So they tried to disperse the shit by mixing the crap paper in with good paper, in effect poisoning every investment bundle.

Ishmael

 

[4est_4est_Gump]

And Mark Zandi used an unproven model based on historical records to justify these toxic funds.



And the two quasi-governmental entities are quietly lowering loan standards again to give their government the standing to claim economic recovery. They would be doing the exact opposite if Mitt Romney had been elected. All of the alphabets and other assorted government bureaucracies are devoted to the Democrat Party because it is the party of taxation and control in the name of social justice which is nothing more than dog whistle for, "we loot those too stupid to vote for us to give to those who vote themselves the largess of the treasury."

 

[Ishmael]

And Mark Zandi used an unproven model based on historical records to justify these toxic funds.



And the two quasi-governmental entities are quietly lowering loan standards again to give their government the standing to claim economic recovery. They would be doing the exact opposite if Mitt Romney had been elected. All of the alphabets and other assorted government bureaucracies are devoted to the Democrat Party because it is the party of taxation and control in the name of social justice which is nothing more than dog whistle for, "we loot those too stupid to vote for us to give to those who vote themselves the largess of the treasury."

They never learn.

Ishmael

 

[4est_4est_Gump]

They do so learn.



When you are too big to fail, there is an actual honest-to-go..., whoops, can't use that word, -gaia cash reward for your bureaucracy and bonus money for your executives for failing.

B-b-b-b-b-b-ut A_J, THE KOCH BROTHERS!

[Petey inserts his quivering lip!]

 

[Beco]

There had to be a correction at some point.....

 

[LouCfer]

No.L]

you fucking lying asshole

it was B Frank that REFUSED to do anything, when Bushco warned of a HUGE PROBLEM