Posts Tagged ‘plunge’

Obama Gives America One Of Worst Post-Presidential Market Plunges In History As Businesses And Investors Say Sayonara To Economic Growth, Jobs

November 8, 2012

Businesses and investors told America what they thought of their idiotic choice for president yesterday with the biggest market plunge in a year the day after Obama was reelected.

The Dow dropped 313 points, or 2.4% of its total value on the trading day immediately following the Obama reelection.

Interestingly, Obama has two of the five worst market plunges on the day after a presidential election, and you’ve got to go back to the 1930s and 1940s to see worse market disasters:

Other post-election plunges in the stock market
Posted: Nov 07, 2012 2:35 PM PST Updated: Nov 07, 2012 2:35 PM PST
By The Associated Press

The Dow Jones industrial average fell 2.4 percent, giving it its fifth worst one-day drop following a U.S. presidential election. The biggest, in 2008, came in the midst of the financial crisis on the day after President Barack Obama won his first term. Here are the worst five one-day post-election drops since 1900, according to Bespoke Investment Group:

Election Day: Nov. 4, 2008.

Winner: Barack Obama.

One-day loss in the Dow Jones industrial average: 5 percent.

Election Day: Nov. 8, 1932.

Winner: Franklin Delano Roosevelt.

One-day loss in the Dow Jones industrial average: 4.5 percent.

Election Day: Nov. 2, 1948

Winner: Harry Truman

One-day loss in the Dow Jones industrial average: 3.8 percent.

Election Day: Nov. 5. 1940

Winner: Franklin Delano Roosevelt.

One-day loss in the Dow Jones industrial average: 2.4 percent.

Election Day:

Winner: Barack Obama.

One-day loss in the Dow Jones industrial average: 2.4 percent.

Notice that all five of these turd presidents whom the market rejected were Democrats.  And notice that the only OTHER winner of two “Turd of the Year Awards for Market Disaster” was the guy who kept America in the Great Depression.  You would have thought that America would have learned from the LAST time we got Obama and the market collapsed the most in presidential election history.  Oh, well.  Why not just blame this time on Bush, too?

I don’t know.  Maybe my schadenfreude slip is showing, and maybe I just don’t give a flying damn what happens given that I know Obama will plunge America into the worst economic disaster in the country’s history and figure it might as well happen sooner rather than later.  That and the fact that, given that America voted to collapse in voting for Obama, we might as well get what we actually voted for.  I mean, we sure as hell didn’t get what we voted for the LAST time we voted for “Mister hope and change,” did we?  Rather, we got four years of blame and excuses, which doesn’t even kind of sound like hope and change.

If liberal ideologue MSNBC moron Chris Matthews can be glad Hurricane Sandy hit America so Obama could win, well, I suppose I can pretty much be happy for damn near any disaster and liberals can’t bitch without being hypocrites.  Mind you, that won’t stop them from bitching at me BECAUSE THEY ARE HYPOCRITES.

A lot of your more stupid Americans are still blaming Bush for the terrible economy while exonerating Obama, according to exit poll data.  Don’t worry if you think that trend can’t possibly continue: because those people will be just as stupid in four years when they’ll STILL be blaming Bush for the bad economy as they are now.  Apparently Bush is to stupid people what Bogeyman is to naive children.

The beast is coming after the economy completely collapses.  I really want to make sure everybody knows that.

In other news the deadline for America to fall off the fiscal cliff that Obama set up for us is January 1, 2013.

It gives me great comfort to know that I’ll be singing praises to the name of Jesus Christ in heaven before very much longer.  And it frankly bothers me very little that on that day liberals on earth will be simultaneously cursing the day they ever heard the name of Barack Hussein Obama.

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April 8 CNNMoney Headline: ‘Jobless Claims Soar’

April 9, 2010

Let’s see: new home sales plunge to their lowest levels since 1963, while jobless claims soared to the highest levels seen since December 2008 (when Obama was routinely comparing the economy to the Great Depression).

Clearly, everything is just going swimmingly under Barry Hussein.

Jobless claims soar
By Chavon Sutton, staff reporterApril 8, 2010: 11:59 AM ET

NEW YORK (CNNMoney.com) — The number of Americans filing for unemployment insurance for the first time jumped last week, according to government data released Thursday.

There were 460,000 initial jobless claims filed in the week ended April 3, up 18,000 from an upwardly revised 442,000 the previous week, according to the Labor Department’s weekly report. […]

The report also said that 4,550,000 people filed continuing claims in the week ended March 27, the most recent data available. That figure, the lowest level since Dec. 20, 2008, was down 131,000 from the preceding week’s 4,681,000 claims, and below the 4.63 million economists expected, according to Briefing.com.

The 4-week moving average for continuing claims was 4,648,250, a decrease of 36,000 from the preceding week’s revised average of 4,684,250.

Continuing claims data exclude people whose benefits expired or those who have moved to state or federal extensions. It reflects those filing each week after their initial claim until the end of their standard benefits, which usually last 26 weeks.

The numbers forced the Associated Press to trot out their favorite Obama-apologist adverb.  They said “jobless claims increased ‘unexpectedly.’

Last week Obama was trumpeting government unemployment numbers that did not budge the 9.7% unemployment rate as if all his asinine policies had somehow been vindicated:

“Today is a promising day,” Mr. Obama told workers assembled inside Celgard LLC, the Charlotte, N.C.-based company that makes parts for high-tech batteries. “We are beginning to turn around. More Americans are now getting up, getting dressed and going to work.”

But however the government did its calculations, private payrolls actually fell in March.

The illusory numbers Obama trumpeted were front-page headlines for the major media.  But then the usual “unexpected” revisions come, and the liberal propaganda machine suddenly loses interest in the story.

Meanwhile, underemployment, which many economists view as the “real” unemployment measure, increased to 20.3%.  When people give up looking for work, or finally give up and settle for a job far beneath their potential, they “fall” off the jobless rolls.  We could actually have Great Depression unemployment levels, and still show artificially low unemployment numbers. Discouraged workers who give up are not counted in official unemployment statistics, and over a million unemployed workers aren’t being counted.

The fact is that a total of 6,130,000 workers had been unemployed for 27 weeks or more in December 2009, the most ever since the data were first collected in 1948, and more than double the 2,612,000 unemployed for a similar length of time only a year ago.  Does that sound like Obama is succeeding???

People said of the Great Depression: “It wasn’t so bad if you had a job.”  FDR kept optimistically promising that relief was just around the corner.  Meanwhile, his policies prolonged the depression by seven years until finally even his own Treasury Secretary said:

“We have tried spending money. We are spending more than we have ever spent before and it does not work. And I have just one interest, and if I am wrong… somebody else can have my job. I want to see this country prosperous. I want to see people get a job. I want to see people get enough to eat. We have never made good on our promises… I say after eight years of this Administration we have just as much unemployment as when we started… And an enormous debt to boot!” – Henry Morganthau, FDR’s Treasury Secretary, May 1939

In April 1939 unemployment was 20.7%.

Obama keeps telling us how magnificently we are recovering, and the dinosaur lamestream media keeps reporting it as if it were true.

Meanwhile he keeps piling on shocking and totally unsustainable deficit levels that will ultimately implode the U.S. into a Great Depression unlike anything we have ever seen.

But under Obama, unsustainable is the new normal.

When we  finally awaken to our sobering senses, we will find we have been led by the nose and duped by lies.