Thanks Barack… Dow Plunges For 6th Week in a Row – Worse Drop Since Dot.com Bust

Worst. President. Ever.
The Dow dropped another 172 points today.

U.S. stocks plunged 172 points on Friday for the sixth straight weekly loss — the longest losing streak since the fall of 2002. The market’s last seven-week stretch of losses began in May 2001, as the dot-com bubble deflated.
CNBC reported:

Stocks closed near session-lows Friday with the Dow falling below the 12,000-mark to finish lower for the sixth-consecutive week amid further signs of a global economic slowdown.

The Dow Jones Industrial Average plunged 172.45 points, or 1.42 percent, to end at 11,951.91—below the 12,000-mark, the first time since Mar. 18, 2011. This week marks the Dow’s worst losing streak since 2002.

The S&P 500 slid 18.02 points, or 1.40 percent, to finish at 1,270.98—breaking the 1,275 support level.

The tech-heavy Nasdaq slumped 41.14 points, or 1.53 percent, to close at 2,643.73. The Nasdaq is now in the negative territory for the year.

The CBOE Volatility Index, widely considered the best gauge of fear in the market, gained 6.13 percent to close at 18.86.

For the week, the Dow declined 1.64 percent, the S&P shed 2.24 percent and the Nasdaq dropped 3.26 percent. All 10 of the key S&P sectors slipped for the week, led by techs, consumer discretionary and energy.

Maybe we need some more job-killing EPA regulations. That ought to help.

#1 June 10, 2011 at 4:25 pm
Redwine commented:

But the LSM has more urgent matters to focus on. OMG – Palin bought a tanning bed with her own money. AIIIEEEEEEEEEEEEEEEEE!!!!!!!!!!!!!!!!!!!!!!!!!!
#2 June 10, 2011 at 4:26 pm
Granny commented:

Right on target! Exactly where they’ve planned isn’t it?
#3 June 10, 2011 at 4:28 pm
Daniel commented:

Think it was BO’s statement about bailing out Greece that did it?
#4 June 10, 2011 at 4:31 pm
ss252 commented:

It must me a awesome feeling , knowing that as President and even Former President that money worries will never be a issue ever ever ever in your life again…

That makes it so easy to relate to “THE PEOPLE”

This guy is such a joke, he could care less if we spiral into oblivion!

The LEFT are f…………………….ng nauseating!
#5 June 10, 2011 at 4:36 pm
gus commented:

We need to get Sheriff Joe Biden involved. He’ll fix things up.
#6 June 10, 2011 at 4:37 pm
john03 commented:

When this happened under Bush they were all clamoring to announce the beginning of a recession.
#7 June 10, 2011 at 4:42 pm
Tjexcite commented:

This will do down as when the Hope bubble deflated..

That is if the LSM reports it, they have other more important shinny things to look at.
#8 June 10, 2011 at 4:42 pm
Stephana commented:

Can’t blame this on Bush. Who is the sh*tstain going to try to blame this on now?
#9 June 10, 2011 at 4:48 pm
Taqiyyotomist commented:

Everything is going according to plan.

As Barack Obama has said, “We’re headed in the right direction.”

Believe him when he says this. According to him, and to everyone who raised and molded him to be who and what he is, these little bits of bad news are indicators that say “you’re doing it right.”

And believe Michelle when she says that there is a lot (and hoo-boy, I mean a LOT) of laughter in the White House lately. It must sound like a big, classically-designed marble comedy club in there when bits of news like this come out.

They mean to destroy us. The Communists always have. And they’re tenacious.

Obama was conceived by communist revolutionaries. Possibly (quite probably) for this end.

Frank M. Davis. Bill Ayers. Saul Alinsky, though not personally, his teachings infuse everything that makes up this Community Organizer. Francis Fox Piven.

And many, many more he surrounds himself with, who idolize the likes of Mao tse Tung, Che Guevara, Fidel Castro, and whose walls are adorned with their likenesses. The murderers of millions, the most evil communist dictators of all time… these are the idols of a great many in the Obama administration.

It’s not incompetence when you see these statistics. It’s fully planned, and fully aware, and fully competent. That it is evil and malicious should be evident to all with eyes.
#10 June 10, 2011 at 4:50 pm
succotash commented:

That socialism thing is working out very well,soon we will all be equally BROKE !
#11 June 10, 2011 at 5:07 pm
Taqiyyotomist commented:

#10 succotash

Not the Progressive elites. They’ll be partying, diamonds on the soles of their shoes, while America starves. Oh, and, of course, laughing. Laughing a lot.
#12 June 10, 2011 at 5:15 pm
succotash commented:

#11 Yes I know,eating that wagyu beef that’s over $100. a lb, nothing but the best for Lord Bam and Lady Boozle, ain’t affirmative action great!
#13 June 10, 2011 at 5:18 pm
Mikey commented:

I loved what #9 said. I believe he is correct. It is all working out as planned. I’m beginning to believe that Boehner, McConnell, etc. are in on it as well. What have they done lately? NOTHING. Zero Obama trashes the Constitution and our freedoms daily and they do absolutely NOTHING. What me care? I’m set for the rest of my life – You? Too bad. Something is going to have to give pretty soon. Like someone said on a comment I read. The LSM is sooooo busy trying to stick it to Palin that they WON’T report what is happening. They are as much to blame as Zero and the Democrats for what is happening.
#14 June 10, 2011 at 5:24 pm
Dave-O commented:

Obama has just the plan to help. Raising our utility rates by 50% or more ought to do it. Thanks, Barack.

The country is in the very best of hands. Obama is the smartest man ever born. The lamestream media keeps telling us this. What could possibly go wrong?
#15 June 10, 2011 at 7:13 pm
Carbon Pootprint commented:

They’ve run out of Bernanke Bucks to play with, Reality next stop.
#16 June 10, 2011 at 7:20 pm
Spider commented:

Stock market is a leading indicator. Could mean we’ve already entered another recession.

The growth since the last recession ended in 2009 has been enemic at best, wouldn’t have taken much to tip growth negative again.

We are looking a lot like Japan did in the 90′s after their stock market and real estate bubbles burst.

We need to flush all non-performing assets out of the system and allow the cycle to restart normally.
#17 June 10, 2011 at 7:37 pm
tommy mc donnell commented:

this is what happens when you let the people with the political power have the economic power. power corrupts, absolute power corrupts absolutely.

we need to take OUR money back from the politicans at every level of government. tax repeal now.
#18 June 10, 2011 at 8:02 pm
Molon Lobe commented:

Obama and his posse of wiz kids have fundamentally changed the US-

to the status of a banana republic.

THE USA IS THE MOST INDEBTED NATION IN THE HISTORY OF THE WORLD.

Thanks Barrack.
#19 June 10, 2011 at 8:19 pm
Obozo Africanus commented:

A few more truckloads of paper on the printing presses Dr. Mugabe, I mean Bernanke…I’ll have this thing fixed yet…
#20 June 10, 2011 at 8:23 pm
Scott commented:

Funny how the smart set on wallstreet flocked to the community organizer in 2008…It proves the old adage that no stock picker smarter than a monkey throwing darts at a board to randomly pick stocks…The pampered clueless elite…They couldn’t wait to elect a man who wore his neo-marxism on his sleeve.
#21 June 10, 2011 at 9:18 pm
Robert commented:

This is one area where I say just fine. I am sick of Wall Street partying on after getting their money from the rest of us.
#22 June 10, 2011 at 9:49 pm
SSBN 627(B) commented:

More stimulus, crank up the defibrillator til the chest hairs frizzle, pour on the juice and then tax the ever-loving crap outta it.

We need to ‘invest’ another trillion or three in our union compatriots (or is that unPatriots?), that way we can get everybody paid off prior to collapse/chaos.

Thank you, Obama. Thank you, democrats. Thank you, dumbass liberals. The Soviet Russians tried for 50 years, it’s only taken you guys three. Guess you are pretty smart, after all.
#23 June 10, 2011 at 11:41 pm
dunce commented:

I have been studying the stock market for 50 years and i can tell you that the trend will not be up until we have major policy changes. There is not likely to be any progress our economy because the democrats still hold a majority in the senate and even if they pass something so that the senators up for election in 2012 can say they voted for something good but obama vetoed the bill and they did not have enough votes to override the veto. In short their plan is to do nothing as they have clearly shown by not putting out a budget for two years.
#24 June 11, 2011 at 7:09 am
Iconoclast commented:

As Jim is fond of noting: “Worst. President. Ever.”

And an addendum: with barky on the ballot, the competition begins only with the voting for 6th place.
#25 June 11, 2011 at 8:02 am
#1AMERICAN commented:

I’ll bte odumbass is sleeping very well at night knowing his plans for destroying america are right on schedule….