Yes the chosen ones opens his mouth and the Dow dumps, down below 7000 for the fist time since 1997. As of this writing (about 2:00 CST) it is at 6,798.58 so far the lowest point of the day and of the last 12 years.
Here’s today chart.
Now to my liberal friends let me explain something to you, because I know you’re going to give me that “He’s only be in office 5 weeks” or “It’s all George Bush’s fault.” crap … listen up.
Do you have any idea how the markets work? They work on projections of future events and what is happening today is based on what they think will happen down the road. Markets work on 6-8 month forecast. And when the polls showed Obama with a commanding lead, the Dow was over 11,000 it was at 11,400 if you want to nitpick … it’s below 7000 today and headed lower.
You can’t keep blaming Bush forever, at some point Obama will have to take responsibility for the mess he is making and it is a mess he’s making. The DOW has dumped and dove over the cliff ever since Obama took the lead, welcome to reality and he is not doing a damn thing to curb it and in fact I think he is rejoicing in those evil rich people getting theirs, but Obama forgets the greatest number of investors in the market are those little people he claim to help. Their retirement, 401K and college saving it tanking and he wines and dines, that’s Obama.
You wanted change, well that’s all you’re going to have left in your 401K is change, nickels and dimes.
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Change. HIL-A-RIOUS. Okay, maybe not so funny for my 401K, but one funny sentence about the state of our economy.