Thursday, November 06, 2008

US stock market posts biggest post-election drop in US history

Not a good start.

5 comments:

Auntyem said...

Well, the pundits have been telling us that it's going to get worse before it gets better. Maybe by February things will start on the rise again. I don't think that because Obama won, the market dropped. They are comparing it to times that weren't as bad as they are now, no?

Confidence is at an all-time low, and people aren't willing to risk anything. Those that did take the risks are just taking the government handouts and using them for million-dollar bonuses and dining-and-wining and fancy retreats for their CEOS and clients. They could care less about reviving their companies and just want to get what they can for themselves. Not a good thing.

Emilie
Port Orchard, WA

John Washburn said...

Emilie,

That's nice spin but the simple fact is that if the business world was confident that Obama's plan would stimulate the economy they would be investing in the market right now. Instead, they fear the high capitol gains tax and the high corporate taxes.

This is the biggest post election drop EVER, and the biggest two day drop since the 1987 crash. That's no coincidence.

I said before, you never raise taxes during a recession...never. The only time that has ever been done was in 1929. What happened then? I hope Obama listens to his advisors if/when they tell him this.

Robert M. said...

That's stooping to a new low. I dislike Obama probably more than the conservatives, and even I have to call you one this one. You have no supporting argument, you have no facts; all you have is a correlation, which means nothing. The stock market has been fluctuating like crazy all year. There's not a shred of evidence to pin this drop on Obama's election.

All you're doing with this post is making conservatives look childish, and doing to Obama what the liberals did to Bush when he took office.

SNAKE HUNTERS said...

FACT: In November 2006, Bush's Unemployment was at 4.5% and Gasoline at 2.16 Per Gallon; People were buying shiny new RV's.

Then Pelosi/Reid took control of the Congress (2006) Congressional approval was far below Bush at 14%. Today it's at 9%, an Historic Low.

Sept 08, Fannie/Freddie Bubble Burst; Franklin (CEO) Raines grabbed 90 Million Bucks and ran like a thief! Sub-Prime Loans Killed Off The Big Banks, and the Stock Market Nose-Dived;

Retirement Funds Vanished...Home Equities Disappeared...Now G-M & Ford are begging for a Bail-out!

Blame it on Dubya Bush's "Failed Policy". More Partisan Hot-Air!
Yeah Baby! Now guess what's ahead?

Well, Razzleberry Pie In The Sky!

reb
_________________________________
www.lazyonebenn.blogspot.com

John Washburn said...

Robert, the market had its biggest post-election drop in history the day after Obama was elected, and within 48 hours had dropped the most since the 1987 crash. You can call that coincidental fluctuations if you’d like, I don’t really care. I was just pointing out the historical context of the drop since the MSM – who have been eager to report bad economic news until now – doesn’t seem to care. And this is nothing like what the Left did to Bush. I am referring to facts. The market DID have its biggest post-election drop and DID have the largest 2 day drop since 1987. These are facts, how you interpret that is up to you. When Bush got elected, they did nothing but whine, lie and threaten to move to Canada. I have yet to hear a single conservative talk about that.