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Author: Subject: Market tanking today. Obama fear?

Peach Extraordinaire





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  posted on 10/24/2008 at 09:28 AM
By CHARLES GASPARINO
Obama: Sticking by his plans for lots of new taxing and spending.

Most investors know the devil is in the details - and the details of Obama's economic plans are anything but reassuring.

Of course, the market turmoil is first a reflection of grim reality - the bursting of the housing bubble and the billions upon billions in writedowns and losses that have forced upon the hugely leveraged financial firms companies that had cranked big profits during the bubble years.

The resulting credit crunch is hitting Main Street harder than ever before. The country is headed for recession; the only question is: Just how low can the markets and economy go?

It could be a lot lower - it all depends on the policies of the next president.

And, as it looks increasingly likely that Obama will be that man, the markets are casting a vote of "no confidence."

To be fair, McCain hardly instills confidence among the Wall Streeters I speak to. Why has his campaign spent the last week focusing on Obama's friendship with former terrorist William Ayers - when it should be hitting Obama's blind loyalty to policies that bring together the worst elements of Herbert Hoover and Jimmy Carter?

Recently, Obama said he wants to expedite loans to small businesses, so he seems to have a clue that they produce much of the country's job growth. Yet his income-tax hike on upper brackets will hit vast numbers of small businesses - they'd face the highest rates they've seen in decades.

Overall, his plan includes some of the most lethal tax increases imaginable, including a jump in the capital-gains rate. He'd expand government spending massively, with everything from new public-works projects to increases in foreign aid to a surge in Afghanistan - plus hand out a token $500 welfare check that he calls a tax cut to everyone else.

 

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Zen Peach



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  posted on 10/24/2008 at 09:38 AM
Market tanking today. Obama fear?

Nope. Just the shiatty economy that the Republicans have given us.

I hear your bridge calling you.

 

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Peach Extraordinaire



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  posted on 10/24/2008 at 09:51 AM
quote:
quote:
Of course, the market turmoil is first a reflection of grim reality - the bursting of the housing bubble and the billions upon billions in writedowns and losses that have forced upon the hugely leveraged financial firms companies that had cranked big profits during the bubble years.



I guess you missed this part.



The usual personal retorts from the usual suspects. No doubt they thoughtfully considered the plausibility of the argument and rejected it for unknown reasons of their own. Can't diss the messiah ya know.

 

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Sublime Peach



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  posted on 10/24/2008 at 09:56 AM
It makes so much sense. Brilliant analysis by Gasbagorino.

 

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Peach Extraordinaire



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  posted on 10/24/2008 at 10:02 AM
quote:
quote:
quote:
quote:
Of course, the market turmoil is first a reflection of grim reality - the bursting of the housing bubble and the billions upon billions in writedowns and losses that have forced upon the hugely leveraged financial firms companies that had cranked big profits during the bubble years.



I guess you missed this part.



The usual personal retorts from the usual suspects. No doubt they thoughtfully considered the plausibility of the argument and rejected it for unknown reasons of their own. Can't diss the messiah ya know.

Happy Friday, Dick.


You can't stop proving my points, can you?

 

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Zen Peach



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  posted on 10/24/2008 at 10:14 AM
quote:
The usual personal retorts from the usual suspects.


The usual nothing from RBK too.

quote:
No doubt they thoughtfully considered the plausibility of the argument and rejected it for unknown reasons of their own. Can't diss the messiah ya know.


There was no plausibility to your question. No one with an ounce of objectivity is blaming any of the current financial issues on fear of Obama. Hell, as much as I dislike Bush, its not even his fault. Theres enough blame to go around to the Republicans and Democrats (mostly Republicans in my opinion). Feel free to diss Obama all you want. All I expect is that you actually bring facts and information to the table as opposed to trolling and right wing nuttieness.

 

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Zen Peach



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  posted on 10/24/2008 at 10:26 AM
quote:
Hoover


Hoover makes a great vacuum cleaner.

 

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  posted on 10/24/2008 at 10:31 AM
No he may be right. Today's market action definitely has nothing to do with the following:

Hang Seng -8.3%
Nikkei -9.6%
Dax -7.27%
FTSE -6.95%

It's about Obama. Uh huh.

 

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Zen Peach



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  posted on 10/24/2008 at 10:34 AM
Phew - I thought that said Hang Sang.................

 

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  posted on 10/24/2008 at 10:35 AM
You're right. The French are quaking in their loafers.

 

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Peach Extraordinaire



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  posted on 10/24/2008 at 10:36 AM
quote:
quote:
quote:
quote:
quote:
quote:
Of course, the market turmoil is first a reflection of grim reality - the bursting of the housing bubble and the billions upon billions in writedowns and losses that have forced upon the hugely leveraged financial firms companies that had cranked big profits during the bubble years.



I guess you missed this part.



The usual personal retorts from the usual suspects. No doubt they thoughtfully considered the plausibility of the argument and rejected it for unknown reasons of their own. Can't diss the messiah ya know.

Happy Friday, Dick.


You can't stop proving my points, can you?

You don't go by Dick? You prefer Richard?


And proving them and proving them.

 

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As a patriot and a loyal member of the opposition I pledge to offer our new President the very same benefit of the doubt and unwavering support that the left offered George Bush over the last eight years.

 

Zen Peach



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  posted on 10/24/2008 at 10:37 AM
quote:
You're right. The French are quaking in their loafers.
Doom is rising...

 

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  posted on 10/24/2008 at 10:38 AM
Chanel makes a crepe and calfskin loafer. How very French!

 

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  posted on 10/24/2008 at 10:55 AM
I hear they're crying into their delicious wine too. Do you think Obama will ruin French wine, too?

 

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Zen Peach



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  posted on 10/24/2008 at 10:59 AM
quote:
I hear they're crying into their delicious wine too. Do you think Obama will ruin French wine, too?


He will replace it all with his own label:



 

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Zen Peach



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  posted on 10/24/2008 at 11:00 AM
I don't know why people are so concerned with 'spreading the wealth around'. Bush just did it with that 'rescue' package.....only difference is they were sprading it from the lower and middle class to the rich.

 

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Zen Peach



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  posted on 10/24/2008 at 11:02 AM
quote:
quote:
I hear they're crying into their delicious wine too. Do you think Obama will ruin French wine, too?


He will replace it all with his own label:




LMAO!!! I believe!

 

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  posted on 10/24/2008 at 11:10 AM
Stop all the obfuscation. We need to get back to the topic at hand, namely, how Obama is single-handedly destroying the global equity markets. Focus people, focus.

 

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Maximum Peach



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  posted on 10/24/2008 at 11:13 AM
quote:
quote:
Stop all the obfuscation. We need to get back to the topic at hand, namely, how Obama is single-handedly destroying the global equity markets. Focus people, focus.


He's the anti-Christ.

Can we move on now?
Not yet. This just in....

On a call with the head of our equities desk, head of the fixed income desk, head of equities reaserch and head of all Investment Products, and surprisingly Obama was not mentioned once. Go figure...

 

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Maximum Peach



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  posted on 10/24/2008 at 11:14 AM
quote:
Just the shiatty economy that the Republicans have given us.



Oh, quite laughable. You just can't be objective, can you? For the past 8 years many in Congress on both sides resisted legislation to reform much of the garbage that led to this.


Incidentally, didn't I read in another post that you said you carry a balance on your credit card? You may be part of the problem with this shiatty economy as well. God forbid any of us take responsibility. Must be someone else's fault.

[Edited on 10/24/2008 by jim]

 

Sublime Peach



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  posted on 10/24/2008 at 11:16 AM
OTF = TROLL.
 

Zen Peach



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  posted on 10/24/2008 at 06:26 PM
quote:
Papa Obama will fix it and make it all right again ,wont he Mama ?

lmfao,,man they've really accomplished their goal haven't they ? Its all the Republicans fault and the Dems are here to save the day with CHANGE.Them cats are closer bed partners than cats on mice.Their just givin ya that warm feeling that the people have a say so.Hussein or Sydney,it dont matter.Cause the train has done left the depot and its right on time.Granted their might be a few glitches and some track mending along the way.But the engineer and his comrades have had this trip planned for a long time.
Economy,candidates,housing prices,all part of the recipe.Ya'll just sit back and watch the cake get baked now ,,10-4 ?


Please quit beating around the bush and say straight out what is on your mind. Show the courage of your convictions.

 

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Zen Peach



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  posted on 10/24/2008 at 06:30 PM
quote:
Papa Obama will fix it and make it all right again ,wont he Mama ?

lmfao,,man they've really accomplished their goal haven't they ? Its all the Republicans fault and the Dems are here to save the day with CHANGE.Them cats are closer bed partners than cats on mice.Their just givin ya that warm feeling that the people have a say so.Hussein or Sydney,it dont matter.Cause the train has done left the depot and its right on time.Granted their might be a few glitches and some track mending along the way.But the engineer and his comrades have had this trip planned for a long time.
Economy,candidates,housing prices,all part of the recipe.Ya'll just sit back and watch the cake get baked now ,,10-4 ?


Luke, the next time you make any sense will be the first.

 

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Zen Peach



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  posted on 10/24/2008 at 06:36 PM
quote:
You're right. The French are quaking in their loafers.


Don't they do that any way?

 

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