Dow Sinks 70 Points During Obama’s Speech – Dow Futures Drop 226 Points Following Obama’s Speech

The Dow Jones industrial average hurtled downward 1.2% today losing 158 points to finish below the 13,000 threshold, at 12,938.
The Dow dropped nearly 70 points in the last half hour during Barack Obama’s fiscal speech.

And the Dow Futures dropped 226 points today following Obama’s fiscal speech.

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  • ★FALCON★

    If you look at the real value of the Dow, S&P and Nas – you can clearly see that it is made up of 401K contributions that will pay at some later date – well into the future.

    After 9-11 the market rightfully imploded – however, there will always be those that think saving for their future is a good idea, yet these folks are at risk of Governmental financial malfeasance due to contributions not guaranteed as all other Federal monetary instruments. When the Federal Government purposefully attacks the markets by unlimited “pumping” – it leaves your financial future in limbo.

    There’s been alot of talk about the Feds confiscating the 401Ks – and it’s actually easier for them to create a financial meltdown that empties your fund than to out-right steal it. Don’t believe me? We’re about due once again.

    And it’s happened before and they’ll do it again.

  • SeniorD

    Let us give thanks for what we are about to receive. When the smoke is clear, the Red Banner flies high above the White House Dear Leader’s Palace and Capitol Hill the Marbled Monument to Murphy’s Law we shall bend low and receive yet another ‘gift’ from the Ruling Class.

    After that, Independence Day gets a whole new meaning and the Ruling Class won’t like it.

  • RIGHT ON #5 SeniorD!

  • Patty

    AND OBAMA IS HANDING OUT RAISES

  • Oliver

    You know how the Dems are always blaming their dismal performance on ‘the recession’ and blaming Bush for causing the recession?

    uh-oh: A new study from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the left’s race-baiting attacks on the housing market (the Community Reinvestment Act–enacted under Carter, made shockingly more aggressive under Clinton) is directly responsible for imploding the housing market and destroying the economy.

    http://www.examiner.com/article/new-study-confirms-economy-was-destroyed-by-democrat-policies

  • Mad Hatter

    The Stock Market didn’t drop because of Obama’s speech, it dropped because of a snow storm that hit the East Coast, and flights were canceled. It also dropped because Chicago recorded its 500th murder. And finally, it also dropped because the NHL has cancelled more of their games into January.

    As we know by what Obama and his buddies in the Alinksy Media has taught us over the past four years, Obama does nothing wrong, he’s Mr. Perfect. It’s always the other guys fault, or circumstances that caused things to go bad for our economy.

    Remember kids, don’t blame Obama, he’s Mr. Perfect.

  • bg

    ++

    OT..

    ht: Conservative

    Gun Advocate in 2008: Barack Obama

    dear God, we all know he means the exact opposite.. 🙁

    ==

  • AUSONIUS

    They’ve bankrupted the US in terms of morality
    They are in the process of bankrupting the US fiscally for the purposes of eliminating the middle class (as well as reducing the US to third world status ultimately)
    The last step to usher in the fundamental transformation that Hussein desires (converting citizens into serfs) will be disarming them, and they are moving toward that end now

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  • Adirondack Patriot

    Let it burn. The liberals and Obama-phones don’t know real poverty. They will in 2013. They will get what they voted for.

  • Blacque Jacques Shellacque

    A new study from the widely respected National Bureau of Economic Research released this week has confirmed beyond question that the left’s race-baiting attacks on the housing market (the Community Reinvestment Act–enacted under Carter, made shockingly more aggressive under Clinton) is directly responsible for imploding the housing market and destroying the economy.

    These guys are late to the game.

    Someone four years ago said basically the same thing.

  • Making the Dow drop by giving speeches is one of Obama’s superpowers. Sadly, he is using his superpowers such as this against the US instead of our enemies.

  • YourMaster

    The DOW must of finally realized 0bama is a communist
    and has gay sex with muslims, camels, dogs, socialists, and other communists each night
    …while trying to get rid of the constitution and introduce Sharia as the law of the land

    …then democrats can fulfill a long time dream of both a communist utopia
    and they can have sex with 6 yr old children as well as eat their own or random strangers dogs and cats (legally) just like the arabs do.

    …oh… they would have to get people disarmed first with new gun laws…
    because a stranger isn’t likely going to let a lib eat their dog…
    ….and take them to court… more than likely the lib will get shot in the face.

    so it makes sense to take guns away for fear of the reprecussions for their actions and policies. *lol*

  • Economan

    They’re purposefully running the economy into the ground and the markets are operating on a razor’s edge. A large part of the economy is run on fiat money. It’s only a matter of time before buffoons who couldn’t run a lemonade stand, destroy the economy.

  • Oliver

    #14 Blaque – I know it’s late, and I also know the other ‘study’ on this was widely disputed and (of course) ignored by Dems & the MSM. Perhaps this one will garner some attention because the group has some credibility. Also – maybe some of the GOP pundits will be sharp enough to refer to the study next time a Dem blames Bush for the recession … but I’m not holding my breath on that.

  • Theadora

    I don’t understand. The Stock Market was closed by the time obama gave his speech. How could it have gone down?

  • airon-later

    It’s this sort of ignorance as to how the American economy works that is one of the hallmarks of Jim Hoft’s blog that far too many people buy into.

    What Obama says and how the DOW fluctuates are mutually exclusive.

    To follow thru with Hoft’s idiotic thesis, I would have to say that since I opted not for that extra cup of coffee yesterday evening that that HAD to have something to do with a drop in the DOW, or that anytime “bg” posts something they find clever, that that HAS to be proof why the DOW increased 100 points.

    It’s statements like this from Hoft and others that identify with such preposterous and patently false claims that continually prove that wingnuts have no grasp of reality – economic or otherwise.

  • airon-later

    #19 good point

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  • Its really hard to not stop laughing at all you Idiots who keep thinking this Administration gives a flying F__K about anything other than porking up their bank accounts before this train wreck all comes crashing down.Suffer you fools, You voted for this crap.

  • You can buy the Dow index for less than 8oz of gold or 433oz of silver or 11,938 of those paper thingies. (we’d all be wise to peek at zerohedge dot com once in a while if you’re thinking there’s wealth to be had in the stock market)

  • annie p

    19 and 21: it was Dow Futures that dropped at the time of the speech.

  • airon-later

    #25

    Again, DOW futures or not, one speech is not going to have a direct effect on it. There are a whole host of variable to consider. The over-simplification approach that Hoft – and a majority of the Modern American Right – favor showcases their complete and unblushing ignorance of how the economy works.

  • bobdog

    Buckle your seatbelt, Dorothy. I have a feeling we’re not in Kansas any more.

  • #26arion…you are wrong. what the president says or doesn’t say in a speeech definitely has a short term effect on the market. the president’s(any president)speeches always have the ability to more the market.

  • Blacque Jacques Shellacque

    Perhaps this one will garner some attention because the group has some credibility.

    Probably not going to have much effect, if any.

    Proof that their policies are failures is unlikely to stop Democrats from advocating more of the same later on.

  • Look-Out

    Re #26 — …complete and unblushing ignorance of how the economy works.

    Remember, Barry assured us he knows how it works…

    http://www.youtube.com/watch?v=pwNWtWLSyYE&NR=1&feature=endscreen

    but when the power is yours to destroy what you hate…well, it’s just too tempting…