Markets down 3-4% but Obama will talk at 1PM

[redrumloa]

Only being down 3-4% is a win, but that won't last as Obama is about to speak. History has shown this to be a very bad idea. After he speaks expect the markets to slide several more percent.

 

[faethor]

I was just listening to the financial report. The claim was the majority of money being pulled out of the stock market is being put into US Treasury Bonds. The reason is the guarantee payout.

 

[Dammy]

I was just listening to the financial report. The claim was the majority of money being pulled out of the stock market is being put into US Treasury Bonds. The reason is the guarantee payout.

http://www.cnbc.com/id/44051683

 

[redrumloa]

Yup,
Obama announced a 1PM statement and didn't give bother to actually speak until 1:58PM. As predicted the markets are now down 4-5% and will likely close even lower.

Hope and change

 

[redrumloa]

Now down 5-6% and falling.

Farrell: The Downgrade Is a National Disgrace

The President came ill-prepared for this job.

A law professor for 12 years, he had published only an autobiography.
As a state senator from Illinois he voted "present" an embarrassing number of times.
He gave a magnificent speech at the Democratic Convention, but is that enough?
President Reagan was called the Great Communicator. President Obama is flailing despite obvious speaking skills. Could it be Reagan had great ideas to communicate, or at least ideas he believed totally in, and President Obama is searching for his meaning and his stance?