Friday, October 30, 2009

Stock Market Takes Tumble Over Realization Obama's Economy was on Sugar High

Apparently Wall Street isn’t buying Obama’s claim the recovery has started based on third quarter numbers. The market fell nearly 250 points today as Obama celebrates. As more sources began asking the question is there really a recovery, stocks tanked.

Most financial experts realize the growth seen in the third quarter is based on economic sugar known as stimulus. Sugar burns quickly and then crashes, and apparently Wall Street understands Obama’s claim the economy has improved under his leadership wait for the next quarter when the economy won’t have programs like Cash for Clunkers propping it up. As you know from last week, we have seen the maximize results of the stimulus. Next quarter the Obama economy must learn to crawl on its own.

"Confidence still strikes me as shockingly low," said Jeff Kleintop, chief market strategist at LPL Financial in Boston. "Consumers are still very pessimistic, and that is evident in individual investors' hesitancy to embrace this rally."

Posted by Bungalow Bill

3 comments:

  1. This growth is fakery produced by the government. The growth didn't happen in the private sector, so it pretty much doesn't count.

    ReplyDelete

  2. This economic recovery is all smoke and mirrors. Our debts will come home to roost.

    ReplyDelete

  3. This is no real surprise to me. Of course the White House 'squater' is going to celebrate. He will celebrate each time the Market drops, he will celebrate each time another 3 million jobs are lost, he will celebrate when another 20 or 30 soldiers dies while he plays golf, and all the while, while this is going on and our Country is slowly being turned into a Communist-Marxist Country the liberals will continue to worship at his feet and kiss the ground he walks on, until they finally wake up and realize that they were wrong, while we sit back and say--'I tried to tell you. How's your hope and change working for you now'?

    It makes me sick. I need a drink.

    ReplyDelete

Sorry about the captcha. I hate them just like you, but the spambots have gotten ridiculous.

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