Market Responds To Obama’s $447 Billion Not-Stimulus Stimulus By Tanking 304 Points

Even the überleftist in-the-tank New York Slimes was forced to report that:

A speech by President Obama on jobs did little to lift the malaise because of uncertainty over whether the program would help the recovery, analysts said.

Hey, thanks for a great big giant load of verbal fecal matter, Obama.

Here’s the foul-smelling “fruits” of Obama’s speech:

Thanks Barack… Stock Market Tanks After Obama’s $447 Billion Stimulus Speech
Posted by Jim Hoft on Friday, September 9, 2011, 9:00 AM

Last night Barack Obama announced his latest spending plan to “revive the economy” would cost another $447 billion.

Today the markets tanked.

The Dow was down 172 points shortly after opening.

The Street reported:

In his speech last night to Congress, the President detailed a $447 billion stimulus package aimed at spurring job creation, a much more ambitious proposal than the $300 billion plan expected. It remains up in the air, however, which parts of Obama’s proposal would be able to pass Congress. Republicans are expected to show their support for the $253 billion in tax cuts but will likely oppose the payroll tax holiday component of Obama’s strategy.

Investors have been particularly uneasy as they await possible monetary and fiscal stimulus to jumpstart the sluggish economy. Federal Reserve chairman Ben Bernanke left the door open on a possible Fed stimulus in his speech Thursday, essentially leaving the market hanging for another two weeks before the next Fed meeting on Sept. 21. Meanwhile, any jobs proposal from Washington is not expected to pass until later this year, leaving the dismal U.S. jobs market staggering without help.

And if finished down 304 points for the day.

Keep talking, Obama, and the presidential limo is going to be on concrete blocks without any wheels in the midst of a Washington D.C. in flames as the symbol of the “hope and change” that Obama represents.

This is what a completely failed presidency looks like.

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5 Responses to “Market Responds To Obama’s $447 Billion Not-Stimulus Stimulus By Tanking 304 Points”

  1. Penumbra Says:

    Obama was Europe’s darling when he took office but I’m not sure he is that anymore. The European politicians have completely different ideas about how the economic situation is to be resolved. It is a bitter medicine, and it will be difficult times for many countries (notably Greece, Portugal, Italy, Ireland and Spain), but there is no other way out. The European actions, i.e. to balance budget deficits and adapt public spending to the reality, are the right at this stage. We did so in Sweden during our crisis in the 90s and have very good experience with it. In this respect, the U.S. is falling behind Europe, and it’s Obama’s fault. His new “stimulus package” will fizzle out as the former. Sad!

  2. Michael Eden Says:

    Penumbra,

    The amazing thing is that Obama is pushing America hard into failed socialism just as Europe – which nearly destroyed itself with the failed economic system – is learning that it is truly “a way to hell.”

    Obama is like a little girl who sees a drug-addicted prostitute lying dead in an alley sewer after suffering an overdose and choking on her own vomit and saying, “That’s what I want to be when I grow up.” That is seriously the most accurate analogy I can think of.

  3. Penumbra Says:

    Obama is living in the past.

    Bad news for us Europeans is that cuts in government spending and balancing the budget may cause people to start voting for the Socialists. For example, there is a great danger that Denmark will get a socialist government efter the coming elections. It seems to be easy to fool voters with old useless socialist promises.

    P.S. My condolences today to all Americans who have lost a loved one, relative or friend, at the nine-eleven attacks and the following events. We will never forget!

  4. UNeverKnow Says:

    If You bothered look deeper, they would find that there was an actual reason the stock market tanked today, the situation in Europe. It is almost impossible to say at any point any one thing causes the stock market to move on any given day.
    The markets are reacting more to their sudden realization that Greece will default sooner or later and precipitate a Euro-crisis of epic proportions – which has been clear to any sober observer for at least two years.It does make a great club to beat up on Obama. And I bet you’re gonna turn into a lame attempt to claim democrats are hypocrites.

  5. Michael Eden Says:

    UNeverKnow,

    If you bothered to THINK, you wouldn’t completely and totally dismiss the damn fact that Obama gave a damn jobs speech AND THE VERY SECOND THE MARKET OPEN IT TANKED.

    Europe was in there, sure. Because damned socialist weasels JUST LIKE OBAMA keep pushing out empty promises. This is like the fifteenth time over the last year that Europe has assurred everyone that it had “hope and changed” its debt crisis.

    So “sudden realization”? This has been going on for well over a damn year!!! In fact, at LEAST a year and a half. And the thing that’s been going on for over a year and a half gets the blame, rather than Obama’s speech THE EVENING BEFORE the market tank??? And Obama’s speech before a joing session of Congress had absolutely nothing to do with anything???

    And yes, Democrats ARE hypocrites. Just like YOU are a hypocrite for calling me out on blaming Obama’s speech and then proceeding to completely blame something that’s been going on for the last year and a half plus THAT JUST BY SOME BIZARRE COINCIDENCE HAPPENED RIGHT AFTER OBAMA’S SPEECH.

    Obama has been the president for three years now. It is beyond obvious by now that you damned Democrat HYPOCRITES will NEVER put the blame where it squarely belongs.

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