How Low Can We Go?

@gewcew23 (8011)
United States
November 8, 2008 11:11am CST
Since the election of Barack Obama the Dow has lost an average of 468 points per day. There are 74 days left until President-elect Obama is sworn in as the 44th President. The Dow closed Friday at 8,695. At an average daily loss of 468 points, by the time Obama is inaugurated the Dow will stand at MINUS 25,937. No need to worry about spreading the wealth, because there will not be any wealth to spread. I am just saying.
3 people like this
8 responses
@Destiny007 (5820)
• United States
8 Nov 08
0bama has already declared himself to be an enemy of investors and business, yet these are the people that make our economy work. Just wait until there are rolling blackouts due to the energy producers being bankrupted by his planned anti business and onerous licensing fees caused by cap and trade, carbon credits, and the nonexistent man made global warming. By the way... the earth is in a cooling trend at present, and hasn't warmed since 1998... but the liberals and envirofacists won't let a little something like actual facts get in their way.
2 people like this
@gewcew23 (8011)
• United States
8 Nov 08
0bama has already declared himself to be an enemy of investors and business, right so they will be pulling out all of their wealth before Obama can take it away from them. With all the hot air that comes out of their mouth, I am surprise that we do not have global warming.
• United States
8 Nov 08
I don't have the link handy, but the amount of ice on the planet is dramatically increasing already this winter. The low sunspot activity in combination with the decreasing solar wind really does appear to affect the temperature of the earth more than some excess CO2. Saying the sun warms the earth more than greenhouse gasses has a direct analogy in everyday life almost anyone can understand. Think of your house as the earth, the house's insulative qualities as the greenhouse gasses, and your furnance as the sun. The furnance affects the temperature of your house more than anything. Increasing the insulation beyond a certain point does not make a whole lot more difference because of the point of diminishing returns. Now, apply this analogy to the earth, sun, and greenhouse gasses and you understand what is going on.
1 person likes this
@sid556 (31005)
• United States
9 Nov 08
The state of the economy is not the fault of Obama. It has been steadily going downhill for quite some time thanks to those in power now. i suspect it all would have been the same if McCain had been voted in. Things are just really bad right now. Obama is only human. I hope the best for him and the country. Time will tell.
1 person likes this
@myklj999 (18277)
9 Nov 08
br - and the winner is
1 person likes this
9 Nov 08
Sounds like there are some good long-term investment opportunities coming up for anyone who's still got some spare money - shares at bargain prices! Every cloud has a silver lining. Personally, I don't think it would have made much difference if McCain had got in - neither candidate struck me as particularly competent when it came to the economy, especially following their support of the bank bailout. Recession's coming, no-one in authority seems to have the first clue how to deal with it, just make the best of things.
@carolscash (9500)
• United States
9 Nov 08
I don't believe that Barack Obama being elected as the President has anything to do with the failing economy. Have we not been in a recession before this election? People are not buying items unless they are needed and they aren't spending the big dollars on cars,houses,etc. Jobs are being lost everyday and people are struggling financially! I believe the drop in the Dow was due to the announcement that GM is doing a large layoff at the first of the year and that Ford and GM are both losing millions of dollars per day. Let's not judge Obama as being the cause of our problems now- he is not in office. Let's wait until he has been in office for a couple of years and see what has happened to our country.
• United States
9 Nov 08
That is pretty bad. I hope it does not go that low. I wonder why the dow does that.
1 person likes this
• United States
9 Nov 08
That's true. Around here there are so many banks and stores closing. Now, layaway has come back for the stores, but unlike years ago, they now have service charge for it. I won't use it. I have to admit that I am looking forward to Obama getting into office to see just what he will do and what he will contend with...and how he will handle it. After two years in office that is when we start getting our party together and say, Obama who?
1 person likes this
@suspenseful (40316)
• Canada
8 Nov 08
They made a big mistake when they elected Obama to be the president and part of the blame was that those in charge, the media kept silent about his obvious defaults while spreading and exaggerating the defaults of McCain and especially Sarah Palin. A man who was in a racist church for twenty years without saying a thing against this preacher's veminious anti=American words, who says that children are a punishment, who plays footsie with leaders who are not pro American, and has pie in the eye sky about making all Americans, albeit of a certain social class, get the wealth from the upper class, is no leader. So the market knows it and they are showing their disapproval.
• United States
9 Nov 08
I certainly hope that is not the case. I hope that the Bush Administration just keeps giving it their all--that Paulson does not make any erratic decisions--and that we make it to the Inauguration in one peice. I am wondering if the gas prices are going to shoot back up because in other countries Presidents have reputation for putting gas costs down around elections and then they go back up after.