Quote:
Originally Posted by TJJJ
Tell you what.
Let's leave the color or lack of it out of this discussion and just settle for the facts.
Fact 1- Obama give speech telling America and the Market that he is going to put us another 500 Bill in the red.
Fact 2- Market drops over 300 points.
Fact 3- World markets drop citing this as one of the 3 factors in the drop.
Fact 4- The markets slapped down the POTUS for his wild and wacky ways!
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In order to make money, we're going to have to spend money.
It's absolutely useless in the short term to cut and cut without creating ways for income to be generated.
The POTUS' plan will give the American economy a jump start.
Do you think that his plan is not good? What part of his plan is not good?
You citing his speech as one of the reasons is completely different from someone saying that the whole thing is Obama's fault-- which is simply false.
As the Wall St Journal stated, the market's drop was mainly a response to the instability in Europe.
The Head of the ECB resigned. His resignation had nothing to do with the POTUS' speech except that the two events happened within 24 hours of each other.
Had the POTUS not given his speech and the Head of the ECB resigned still, then the markets would have still reacted the way they did.