DescentBB

First off, congratulations to Obama on his win.

Now the bad part. Mr Obama, MS. Pelosi and Mr Reid the ball is now in your court. From this day forward you no longer have the Bush crutch to prop you up for your short comings. The economy, the war on terror and national security are now your problem. No one to pass the blame to, so lets see how the Great Liberal Doctrine prevails.

To any of you who voted Obama with expectations like the women coming out of a polling station thinking now her mortgage will be paid, you are in for a rude awakening. The problem will be, is when all the giddy cool aid drinkers wake up 6 months from now to a real recession, are out of a job and the mortgage payment is still due; perhaps the change Obama has been touting will finally be realized. A change in attitudes towards him.

Good luck Mr Obama, I wish you well for the sake of us all.

I think a good indicator of what will happen will be the stock market over the next week or so.

My expectations are Obama has a lot of his promises removed from his website if he hasn't already.

had to laugh. He was calling it \"our\" victory. Seemed more like a victory for the media and what it's capable of doing.

I expect that nothing here will change

Deck chairs...Titanic

CUDA wrote:I think a good indicator of what will happen will be the stock market over the next week or so.

Down over 200 points today so the stock market wasn't impressed by the Obama win. Could be simple profit taking from the gains last week.

I expect to see us out of Iraq before the end of Obama's first term, and a steady withdrawal beginning within the next 12 months.

I expect to see a steady decrease in dependence on foreign oil over his first term due to an increase in alternative energy usage.

I expect to see the economy begin to rebound around 2011-2012, right around when Obama will seek re-election.

I expect to see roadblocks instituted by president Bush taken away on issues such as stem cell research.

Those are off the top of my head. I have to go to Spanish class now

Jesus Freak wrote:I expect to see us out of Iraq before the end of Obama's first term, and a steady withdrawal beginning within the next 12 months.

I expect to see a steady decrease in dependence on foreign oil over his first term due to an increase in alternative energy usage.

I expect to see the economy begin to rebound around 2011-2012, right around when Obama will seek re-election.

I expect to see roadblocks instituted by president Bush taken away on issues such as stem cell research.

Those are off the top of my head. I have to go to Spanish class now

I sure hope all that comes true. Obama has to keep his promises, and I sure hope he does. You never know with a politician, but I think he will. Hopefully change and hope is truly coming, and not just sitting on the horizon!

Also, time for me to fail Spanish class! Damn imperfect tense...

I expect the economy to improve over the next few months, because there is no more incentive to make it look worse than it really is.

take the blue pill.

Is that the one that clouds the truth, no thanks.

Gooberman wrote:take the blue pill.

WHY DIDN'T I TAKE THE BLUE BILL, DAMN IT?!!

well down 500, biggest % drop in the history of wall street the day after an election. not a good start

CUDA wrote:well down 500, biggest % drop in the history of wall street the day after an election. not a good start

Really? My well went up at least 500 mm today due to the rain.

Where is Superman??!

opening bell day 2, market is on its way down again. not looking good so far

Down 250 points. Second down day in a row. I wonder if our future Great Leader is taking notice and is preparing a statement how he didn't really intend to tax out of existence all those greedy corporations.
Is a second day after nomination price drop par with any other president elect?

woodchip wrote:...Is a second day after nomination price drop par with any other president elect?

I don't know but how many president elects have come in the wake of congress screwing the pooch so bad that the whole world gets sucked into our black hole of an economy?

Thanks Barney Frank! Thanks Chris Dodd! Thanks Maxine Waters, Nancy Pelosi, Harry Reid,et al.
Good to know you said Fannie Mae and Freddy Mac were solid and we should continue to make credit do what credit should never be asked to do!
Good to know you guys are now completely in charge! The market is soooooo happy you are now completely free to do as you want!!!!

Now down 450 points. Good job Obama. Hope your \"Change\" mantra can fix this.

The dude isn't even President yet, I can see charging the current or past president for problems, but how can you charge a future president?

Dakatsu wrote:The dude isn't even President yet, I can see charging the current or past president for problems, but how can you charge a future president?

If you hate the person, you can make things up.

Bee

woodchip wrote:Now down 450 points. Good job Obama. Hope your "Change" mantra can fix this.

Come on, woody... don't be silly. It's not like the market was doing just fine up until the election and then it started to tank. It's had several days as bad or worse within the past month.

Bet51987 wrote:

Dakatsu wrote:The dude isn't even President yet, I can see charging the current or past president for problems, but how can you charge a future president?

If you hate the person, you can make things up.

Bee

Yup, I’ve been listening to almost 8 years of that. You’re going to see how it feels for at least the next 4.

JFTR the stock market does react to the new president before they take office.

Spidey: the official changeover won't happen til January.

Bush is still the one sitting in the oval office.

Ferno wrote:Spidey: the official changeover won't happen til January.

Bush is still the one sitting in the oval office.

Wouldn't know that by watching TV.

MMMM DuH!

\"JFTR the stock market does react to the new president BEFORE they take office.\"

and that somehow makes everything the previous president did irrelevant? and here I figured it was still the effects of the bailout.

I did some digging and about the midway point of oct of 88, the dow dropped 900 points. Regan was in office at the time and it was transitioning over to HW bush. Nice try with attempting to blame this one on Obama though.

All of my problems are Obama's fault.

Markets always react to political changes. if I can find it I'll show you why the market is in freefall since the election. its been reported that Obama now wants a 50% capital gains tax. that's why the market is dying. people are dumping their stocks now while they can and before he takes office so they wont get hit with losing half of their profits

Ferno wrote:Nice try with attempting to blame this one on Obama though.

To be fair Ferno, I don't think anyone is blaming it all on Obama. Folks are just saying that the market is reacting to him winning the election.

The market by it's very nature is speculative. If investors "speculate" that candidate X will institute Y policy, the market is going to react one way or the other.

I don't think you can blame where the market is right now on any 1 thing. I think anyone who says otherwise is either incredibly naive or is just being inflammatory.

Dedman wrote: Folks are just saying that the market is reacting to him winning the election.

which by any other definition is blaming someone.

Ferno wrote:...
I did some digging and about the midway point of oct of 88, the dow dropped 900 points. Regan was in office at the time and it was transitioning over to HW bush.....

I don't know if you have proved your point or Spidey's with that reminder! The market knew the difference between Reagan and Bush

Ferno wrote:

Dedman wrote: Folks are just saying that the market is reacting to him winning the election.

which by any other definition is blaming someone.

No it's not. If I shoot Woody because I don't like the color of your eyes, is that your fault? No. If the market reacts to a President Elect because they think he will or won't do something, that's just the market doing what it does. It's not the PE's fault.

Right now, the NYSE is acting on pure emotion. There is little thinking going on.

Lets throw this into the mix. The Dems are stil talking like they want to take over your IRA's and 401k retirement accts. With Obama now going to take over as pres., there is a very good chance that may happen. The slow wits will react favorably to this as the sugar cube is the Demoscammers are saying they will roll the value back to pre-market crash value. Yippee-I-Yay compadres. What the plan holders don't understand is the savings, which were once the plan holders to do with and pass to family members if the plan holder died, now would belong solely to the govt.

Are you still Kie-Yi-Yipping along? The govt will now pay you a hefty 3% per annum Pretty cool huh?
The best part is since all the retirement funds are mostly in stocks, those stocks will have to be sold. Now how do you think the market will react to billions of shares being put up for sale? Go up?
Now along with all the other economic pograms Obama has proposed and no one to stop him from succeeding in implementing them, do you now start to get a picture of why the stock market is reacting to his win? You are very short sighted if you think Obama's win does not have something to do with the free fall.
While there was some fluctuation as Lothar pointed out, the market was rebounding in the week prior to the vote:

http://finance.google.com/finance?clien ... DEXDJX:DJI

Obama's win is telling the market that uncertain times lie ahead with nothing postitive economically coming out from Obama. That is why I said Obama needs to get up and reassure those people who have the capital to drive our economic engine that he (Obama) is not the socialist the right has painted him as. So yes the market response is Obama's fault as at this point he is doing nothing to quell it.

woodchip wrote:Lets throw this into the mix. The Dems are stil talking like they want to take over your IRA's and 401k retirement accts. With Obama now going to take over as pres., there is a very good chance that may happen. The slow wits will react favorably to this as the sugar cube is the Demoscammers are saying they will roll the value back to pre-market crash value. Yippee-I-Yay compadres. What the plan holders don't understand is the savings, which were once the plan holders to do with and pass to family members if the plan holder died, now would belong solely to the govt.

Are you still Kie-Yi-Yipping along? The govt will now pay you a hefty 3% per annum Pretty cool huh?
The best part is since all the retirement funds are mostly in stocks, those stocks will have to be sold. Now how do you think the market will react to billions of shares being put up for sale? Go up?...

I read a little about this. It's amazing they could even try to sell us this nonsense! The same people who tell us we have social security accounts are going to trade their government money market for our portfolios and then they will manage it with our social security accounts....you know, the ones that don't exist because they spent the money on other things!

It's like they are pissing down our backs and telling us it's raining!

Will Robinson wrote:I don't know if you have proved your point or Spidey's with that reminder!

Neither. I was showing that it's happened before and things weren't as bad as they were made out to be, and blaming one person based on his affiliation is short-sighted at best.

The market knew the difference between Reagan and Bush

Back then they didn't. so.. explain the drop then.

hmm, perhaps some voters are hoping for - absolution????

from Shelby Steele

It is exactly because America has made such dramatic racial progress that whites today chafe so under the racist stigma. So I don't think whites really want change from Obama as much as they want documentation of change that has already occurred. They want him in the White House first of all as evidence, certification and recognition.

But there is an inherent contradiction in all this. When whites -- especially today's younger generation -- proudly support Obama for his post-racialism, they unwittingly embrace race as their primary motivation. They think and act racially, not post-racially.

Ferno wrote:...

Back then they didn't. so.. explain the drop then.

I think they knew he wasn't anything like Reagan and his lack of articulating any assurances that protect their interests resulted in a lack of confidence.
the market doesn't need proof that someone is going to make bad moves it only needs uncertainty to make it fall.
Reagan was a solid person who's ideals were well known. I don't remember anything about Bush's policy at all, good or bad.