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Well, well, well, what do you know: another Bush speech, another market revival
. Holy Catfish, Andy, lookee here!!!
As it was in July, when Geo Bush gave his speech calling for more U.S. drilling for oil, and the price of crude started its downward spiral from $148 a barrel to now ~$60 a barrel, today W spoke before the Manhattan Institute and called for market freedom with careful oversight. And, lo and behold, the market went from a 400 point loss to a gain of 550 points!!!!
That's some kind of "bully pulpit" he's got!!
Stocks stage on huge rebound; Dow jumps 6.7 pct
Wall Street rebounds from selloff, sending major indexes up over 6 pct ahead of G20 meeting
NEW YORK (AP) -- Wall Street has launched a massive rebound, sending the Dow Jones industrial average up about 550 points after driving it near its lows for the year.
Following three days of selling that wiped out about $1 trillion in shareholder value, many investors, though nervous about the economy, appear to believe the market has priced in enough bad news.
Analysts also say investors were positioning themselves ahead of a meeting of Group of 20 leaders in Washington. The meeting could possibly bring some decisions about mending the troubled global financial system.
In the last moments of trading, the Dow Jones industrial average is up about 550 points, or 6.7 percent, at the 8,839 level.
Read it and weep, naysayers. And let's hope there's no "buyers' remorse" about November 4th, 2008.
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"All that is required for evil to triumph is for good to do nothing."
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Re: Well, well, well, what do you know: another Bush speech, another market revival
.
Sarah Palin: "I congratulate Barack Obama on his great victory!"
Geo W. Bush: "A momentous and welcomed event in America's history that Barack Obama is elected. I will do everything in my power to ensure and smooth transition for his presidency."
The Bill Clinton White House: "Grab the silver-ware, don't forget the plates with the presidential seals on them. Take all the 'W's off the computer keyboards, super-glue 'em to the ceiling. And throw all records and other important stuff into the trash can. A-yuk-yuk!! Come on, you'all good ol' boys and girls. YEE-haw!!"
A study in contrasts.
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"All that is required for evil to triumph is for good to do nothing."
Re: Well, well, well, what do you know: another Bush speech, another market revival
Quote:
Originally Posted by shmessy
BTW, would you like to explain Bush's market performance for the 2,850 days of his administration before today?
Well, yeah, I already have. Several times: the CRA, Barney Frank, Chris Dodd, et. al. Bush even talked about it today: markets were at record levels under his watch. Only one small problem: the CRA and its economic holocaust effect finally coalesced the perfect storm of millions of mortgages given to people with no possible way to pay them off, those bad mortgages were then packaged into infected poisonous investment instruments all over the world, over-leveraged portfolios were built on a mirage, and the house of cards finally fell down. See: Jimmy Carter and the 1978 Congress, Community Reinvestment Act; and: Bill Clinton, the 1993-4 Congress, ibid.
Chickens are coming home to roost. Barack's pastor taught me that.
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__________________
"All that is required for evil to triumph is for good to do nothing."
Re: Well, well, well, what do you know: another Bush speech, another market revival
The low volume, and uncertainty of the times is what makes these crazy ups & downs possible. I think it's conceivable to say that the 8-9k range is likely the bottom. It could get worse, but it's hovered around there for a while now. The low volume tells me that there are investors on the sidelines waiting for the right time to get their money in.
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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him." Leo Tolstoy, 1897
Re: Well, well, well, what do you know: another Bush speech, another market revival
Damn, I must have missed that speech. The only speech I heard from Bush was him saying he used poor choice of words: dead or alive, bring them on, and standing under the Mission Accomplished banner. How did he realize he chose the wrong words, his wife told him.....................and then the Dow shot up!
Well, well, well, what do you know: another Bush speech, another market revival
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