Monday, August 08, 2011

DOWnnnnnnnn AGAIN: Obama Speaks on Debt Downgrade, Stock Market PLUNGES!

And somehow that's the fault of the Tea Party?

President Obama addressed the nation shortly before 2 PM Monday to discuss the downgrade of U.S. credit. Prior to Obama's remarks, the Dow Jones Index had been running negative in the 300 point range.

Following Obama's remarks, the DOW plunged:


Ben Quayle, now a freshman congressman from Arizona had it right when he said this in a campaign ad in 2010:

QUAYLE: "Barack Obama is the worst President in history!

Is it clear by now that not only does Obama not have a clue how to uplift the American economy he is actually doing it real and lasting damage?

1 comment:

kalpeshmmaniar said...

S&P has downgraded US debt, this has created panic in the markets, but the question is should we take S&P seriously when these credit rating agencies have proved that their understanding about economies is indeed poor.

Remember, it is the same S&P that gave AAA rating to mortgage backed securities in 2005-2007 and we all know what happened after that, so I guess its time to be bullish when S&P, Goldman and the likes become bearish on the world.

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