February 25th, 2009

Reflections the day after: the market’s not buyin’ it

As I write this, the Dow is down about 176. Personally, I’m surprised it’s not down even more, even though it was near the gutter to begin with.

Let’s see—Obama managed to demonize CEOs, set up all households earning above $250K for higher taxes, as well as businesses of unspecified earnings—in order to fill a wish list of Democratic causes, and all in a recession. Mixed with some prettier words of intended uplift and confidence that seemed very empty and cold (and contrived) to me, although better than his previous unrelenting fear-mongering.

12 Responses to “Reflections the day after: the market’s not buyin’ it”

  1. huxley Says:

    I thought the market might be in contrarian mood and go up just for the heck of it.

    At the moment the market has retraced to -126, so we will see how the rest of the day goes. Nonetheless it is another vote of no-confidence in the Obama administration that the market dropped immediately after yet another Big Speech.

  2. Baklava Says:

    I talked to my sweetie last night. She had a little bit of the i told you to me – because she told me to sell in Sep.

    Now I’m in a position where I have to hold. It’s against my principles to sell low.

    $100k turned to $50K. Not much. But significant to me.

    That speech of Obama’s zapped my energy last night. I laid on the couch with disbelief at the AMBITION of Obama.

    I know he means well.

    Unfortunately, he does not understand macro-economics 101.

    And he is making HUGE structural changes that will hurt PEOPLE and this economy for a long time. His plans are far reaching and I knew the market would be down today.

    Please Mr. and Mrs. Liberal (or moderate) please understand that we conservatives DO CARE.

    It is better to teach a man to fish than give him fish.

    Yes, we need safety nets. We have just massively expanded over 130+ government programs, revamped welfare to not have the work requirement rules and dependency is the new direction of the federal government. Dependency is not helpful. IT IS DESTRUCTIVE to people’s lives.

  3. A fan Says:

    I am incredibly depressed. The world has gone INSANE. Have people lost their minds?? Where are the grown-ups?

    You know something is wrong when you find yourself nodding in agreement with Alan Keyes:

  4. Sal Says:

    Only 160 points, but where else does the market have to go? Obama’s rhetoric and policies have already tanked it when it seemed on the road to recovery. We’re at the lowest level in more than a decade.

  5. Baklava Says:

    Sal asked, but where else does the market have to go?

    Up with confidence. Down with lack of confidence.

    I almost sold today. I’m considering it all a loss….. It’s the lottery in 10 years if it regains it’s value…

  6. Sal Says:

    This country is too great, and the liberalism will eventually give way to a Conservative backlash a-la-1980. Whether it’s in 2010, 2012, or even 2016, it will happen. And then we will likely get another period of tremendous prosperity. It may be 10 years, but the market will rebound and grow — it always has.

  7. Baklava Says:


    Goodies given away by the government has expanded since 1960′s.

    Defense spending has gone from 50% of the budget to 19% of the budget since the 1960′s.

    Nobody will want their goodies taken away from them.

    Spending has gotten worse and worse.

    Spending is the problem. Mitsu and Obama policies no matter how much they don’t understand macro-economics are here to stay for the foreseeable future.

    Dependency for me. Dependency for thee..

    I’m still in a funk.

  8. Baklava Says:


    This is good reading


  9. S. Graham Says:

    How was I ever a registered Democrat? Do you ask yourself that Neo? I do.

  10. harry McHitlerburtonstein Says:

    A couple of gals at the office mentioned Obama’s address. They’re Obama fans. I didnt catch all of the conversation as I was busy myself, but it seems they were mostly satisfied with appearances. They are sold on the packaging. The look, the feel, the message.

    One woman commented on how, when the camera panned the house, there was a noticeable difference in demeanor from one isle to the next. The stodgy old Republicans appeared glum, said the woman with glee. “Thats because they arent making anymore money”, replied her friend.

    These are professional women. They have bought into the meme that only Republicans are out to make money and do so on the backs of regular people by cheating them. They’re evil people who get what they deserve.

    Getting ourselves out of this is not going to be easy. We dont own the message or the messenger. If the economy sinks lower, congress can haul a set of CEO’s before the cameras and make them the blame for it.

    Being that Obama is black, merely pointing out his short comings will be dismissed as racist.

    Now we are all New Orleans residents.

  11. camojack Says:

    Read it and weep:

    November 5, 2008 (Wednesday after Election Day): -486 (5.0%)
    January 9, 2009 (one day after Obama speaks at George Mason University on “need” for $800 billion stimulus package): -143 (1.6%)
    January 20, 2009 (Inauguration Day): -332 (4.0%)
    February 10, 2009 (one day after Obama declares that without a stimulus, “an economy that is already in crisis will be faced with a catastrophe”): -382 (4.6%)
    February 17, 2009 (market opens for the first time after Congress passes $787 billion stimulus on February 13; Obama signs bill into law, declaring, “The stimulus lets Americans claim destiny.”): -298 (3.8%)
    February 19, 2009 (one day after Obama announces potential mortgage relief plan): -90 (1.2%)
    February 25, 2009 (one day after Obama’s first speech to the full Congress): -80 (1.1%)

  12. Tom Says:

    Unfortunately Obama is not acting out of ignorance. OBAMA KNOWS EXACTLY WHAT HE’S DOING. We have let the Left indoctrinate the young millions for two generations. Obama studied with the Rev. Wright for 20 years, learning how to shape and move the sheeple. He will likely be our President-For-Life (not a pun).


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