Discussion in 'Current Events' started by over9five, Feb 18, 2009.
....after you fell on it.
Stock market tanks after Obama signs stimulus bill.
I am thoroughly convinced Wall St is a bunch of inept, selfish groups of investment and analyst firms. I just get tired of the changing stories as to why prices are tanking. Here's an example:
Remember last summer when oil was over $4 a gallon, as the price of foreign oil was skyrocketing? Guess who was making money on that deal? The oil companies and firms who invested in oil futures. Well, that bubble burst and prices came down.
Now gas prices are creeping up again, and this time the news reported, that although foreign oil prices are stable, the price of gas in the US is based on oil drilled in Texas. And since there's not a pipeline to reach every part of the country, the price of gas will continue to rise.
The analysts that came out with that statement must have the heads up their butts. I am getting tired of the whole finacial system, who tell the public what they think we are stupid enough to believe.
So Barack signs a law for $787 billion of our tax dollars to get the economy going, although it will take time, the same clowns are Wall St aren't happy.
They must be upset of the $500,000 cap on CEO salaries for companies that received bailout money, after some of the same CEO's bought into the junk bond mortgage fraud, to make the quick buck, regardless of the impact to 401K's and pension plans.
I'm sure the economics of the country is more complex than I know, but to see every hard working person and senior citizen have to adjust their lives, due to the failing economy, is disheartening, to say the least.
The DOW down 487 since.
Our stock went up a few points though.
Can' wait to see how our market will react to omnibus spending bill once it's in the works. This is suppose to be 500 billion in nothing but [-]pork[/-] Government spending.
Wow, If the market was ever going to gain confidence, this was the time.
YOU, SIR OBAMA, HAVE FAILED!!!!
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