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Discussion in 'Politics Forum' started by COBRABRAD, Nov 6, 2008.
This is what happens when a president who wants to double the capital gains tax is elected.
That has been happening almost every day for the past two months. Get over it already...
That must be you in your sig - the DOW posted its biggest gain in 35 years last week.
After falling more than two thousand points since the middle of the summer. Have you looked at your 401K over the past year dumbass. This is not something that started two days ago.
Everyday you post something about Obama. Why don't you have a story on here today about Palin going on a spending spree for her and her family?
NEW YORK, Nov 5 (Reuters) - Wall Street hardly delivered a
rousing welcome to President-elect Barack Obama on Wednesday,
dropping by the largest margin on record for a day following a U.S.
presidential contest. The slide more than wiped out the previous day's advance, the
largest Election Day rally ever for U.S. stocks. The following table shows the percentage rise or decline in the
Dow Jones industrial average .DJI, Standard & Poor's 500 index
.SPX and Nasdaq composite index .IXIC on the day after a U.S
presidential election and who won the Election Day vote.
Year Dow S&P Nasdaq President elect
2008 -5.05 -5.27 -5.53 Barack Obama
2004 +1.01 +1.12 +0.98 George W. Bush
2000 -0.41 -1.58 -5.39 No decision: G.W. Bush v Al Gore*
1996 +1.59 +1.46 +1.34 William Clinton
1992 -0.91 -0.67 +0.16 William Clinton
1988 -0.43 -0.66 -0.29 George H. W. Bush
1984 -0.88 -0.73 -0.32 Ronald Reagan
1980 +1.70 +1.77 +1.49 Ronald Reagan
1976 -0.99 -1.14 -1.12 James Carter
1972 -0.11 -0.55 -0.39 Richard Nixon
1968 +0.34 +0.16 --- Richard Nixon
1964 -0.19 -0.05 --- Lyndon Johnson
1960 +0.77 +0.44 --- John Kennedy
1956 -0.85 -1.03 --- Dwight Eisenhower
1952 +0.40 +0.28 --- Dwight Eisenhower
1948 -3.85 -4.15 --- Harry Truman
1944 -0.27 0.00 --- Franklin Roosevelt
1940 -2.39 -3.14 --- Franklin Roosevelt
1936 +2.26 +1.40 --- Franklin Roosevelt
1932 -4.51 -2.67 --- Franklin Roosevelt
1928 +1.20 +1.77 --- Herbert Hoover
1924 +1.17 --- --- Calvin Coolidge
1920 -0.57 --- --- Warren Harding
1916 -0.35 --- --- Woodrow Wilson
1912 +1.83 --- --- Woodrow Wilson
1908 +2.38 --- --- William Taft
1904 +1.30 --- --- Theodore Roosevelt
1900 +3.33 --- --- William McKinley
1896 +4.54 --- --- William McKinley
* George W. Bush ultimately was determined the winner of the 2000
Source: Reuters EcoWin
i don't mean to get into the middle of all this back and forth BS but the only reason why the Dow posted its biggest gain in 35 years last week is because it posted its biggest lost last month. the Dow is off 5000 points from it's all time high. at some point, it's going to recover with a big day. it has to. every corporation in the country isn't going to go under. eventually people realize that the prices these stocks are at is a bargain. that's how you get the surges that are later erased by tanking days like yesterday and likely today again.
Look at the chart and how the market has reacted before.
the country hasn't seen a crisis of this magnitude since the Great Depression. you can't compare this to any other time in history. HUGE companies that have been around for decades and decades are going belly up. we're in the middle of a serious recession.
if you want to blame Obama for the fall, then you have to give him credit for the upswing a few days right before he was elected too. everyone saw his victory coming and everyone was buying.
i'm not biased, racist or prejudice in any way, shape or form. i'm just looking at this from an economic standpoint. this country is in a deep recession. people don't want to hear that a company made the same profit as last quarter. they want to hear that profits are continuously increasing. if they don't hear that, they sell, sell sell in panic. unemployment is increasing every month. no one wants to go long anymore because they don't know where the bottom is.
i seriously wouldn't compare this election to any other in history when you consider the deep sh*t the economy is in.
The Kool-Aid won't taste good forever, a capital gains DOW discussion and race is brought up - WOW just WOW.
yes, race is brought up. have you seen any of the other threads on these boards? that's all anyone is talking about on here. you brought up Kool Aid. what's with that?
i'm BLOWN AWAY by the number of racist people on these boards. it's incredible. i'm VERY disappointed in the members here. it's very sad.
so are you giving Obama credit for the days prior to his election for the market shooting up? or would you rather just put the bad numbers on him and leave it at that? i don't care what your opinion is either way but you should at least be somewhat fair with your assessment of the market and Obama.
now the Dow falling in the middle of an almost-recession is entirely Obamas fault, even though, as has already been stated, it has fallen 5000 points in the last 2 months...brilliant
Are you even listening to what you are saying?
No doubt his tax plan is causing some concerns with small business, but mostly because people dont understand what his plan really is. All they hear is people saying "redistribution of wealth" and assume he's going to put people out of business and take all your money.
The current deal is ALREADY TAXING YOU 35%
but that doesnt seem to be a problem...
I consider myself a republican, but some of you are just being stupid about this. I cant wait to see what you blame on him next...lol
Exactly...we are suffering as a group. my 401 is worth less than I have actual cash invested in it. Not a feeeling I happy about. It's really time to end the finger pointing like we are all pissy children. We have identified the financial crisis, know its there, thanks...Now who has a solution? Lets try acting like adults for awhile....Interesting enough the next generation of millionaires are going to be created by the right choices in the stock market right now....Its like they holding up the rope so that we can slip under and make phenominal buys on companys that the government is making sure are not actually going to cese to exist....watch GM. They put a hold on continuing prototype research today...they are really putting on a show to get a little of that money. Chevy has the VOLT near completion....guys that car is going to reshape Chevrolet, if u havent read about it check it out its a real technical advancement in the industry. Sorry to get long winded there.:beer:
lol because No one had money or felt secure with our banking systems plummeting! Then Bush pushes to put us in even worse debt to bring back up the market in order to make share holders feel more secure... so it rebounded.... Holy shit!
Please attempt to grow a brain. :kaboom:
WOW at this topic
hahahahahahaaaa......I can't beleive it
This guy is really serious
Of all the Obama threads that have not been deleted this is by far the worst one. The DOW has been in the garbage for months and because it went down again, like it has for weeks and weeks, you want to blame the president elect. Brilliant.....
No kidding. I'm getting REAL tired of seeing these dumbass threads when the man was elected two days ago. Quit your bitching, McCain LOST.
And on a side note, it looks like Obama has selected Rahm Emanuel (former Clinton adviser for you numb skulls) for his Chief of Staff. :rockon:
i will admitt its not obama's fault YET, its his dumb ass democratic backers in the senate and house.... they are why we are in a recession! NOT BUSH!
Not Obama's fault YET? You are quite the pessimist aren't you? Some would categorize that as unpatriotic since you are pre-planning the failure of your country and all... Give it a rest and wait a bit.
Do you mean this Rahm Emanuel :shrug: