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Well, well, well, what do you know: another Bush speech, another market revival

Discussion in 'Political Discussion' started by Fogbuster, Nov 13, 2008.

  1. Fogbuster

    Fogbuster Pro Bowl Player

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    [size=+3]Holy Catfish, Andy, lookee here!!![/size]

    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!! :D

    [size=+5]Stocks stage on huge rebound; Dow jumps 6.7 pct[/size]

    [size=+2]Wall Street rebounds from selloff, sending major indexes up over 6 pct ahead of G20 meeting[/size]

    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.

    Stocks embark on massive rebound; Dow rises 400 - Yahoo! Finance

    Volatility, shmolitility, Bush is the man!!!! :youtheman:

    Read it and weep, naysayers. And let's hope there's no "buyers' remorse" about November 4th, 2008. ;)


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  2. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey

    Foggy is the hardest working man on the comedy circuit!

    However, ANYONE knows it was Palin's speech at the RGA today that turned the world on with her smile.

    Dear Sarah, always remember, it's you girl and you should know it, with each breath and every little movement you show it.
     
  3. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey

    BTW, would you like to explain Bush's market performance for the 2,850 days of his administration before today?
     
  4. Fogbuster

    Fogbuster Pro Bowl Player

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    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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  5. Fogbuster

    Fogbuster Pro Bowl Player

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    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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  6. Real World

    Real World Moderator Staff Member

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    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.
     
  7. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey


    Tell me more about this.
     
  8. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Another Harry Boy wanna be...
     
  9. NEPatriot

    NEPatriot Banned

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    Who is Andy?

    Are you sure that it's not Obama's leadership?
     
    Last edited: Nov 13, 2008
  10. scout

    scout Veteran Starter w/Big Long Term Deal

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    #15 Jersey

    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!
     
  11. Born_a_Patriot

    Born_a_Patriot PatsFans.com Supporter PatsFans.com Supporter

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    The Markets just realized Bush is leaving. Hope, Yes We Can.
     
  12. Fogbuster

    Fogbuster Pro Bowl Player

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    Holy mackell, you mean you never saw "Amos and Andy"??? You gots to be young whippa-snappa.

    ;)

    "Amos and Andy": "Amos and Andy" - Google Video


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  13. Fogbuster

    Fogbuster Pro Bowl Player

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  14. Fogbuster

    Fogbuster Pro Bowl Player

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    Gee, I thought I was the only one!!! :rolleyes:


    (Actually, Harry and I are one and the same; you see, we.... I mean, I work off of two computers, both using "no ip trace" software!!! So there!! :singing: )


    :D


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  15. Fogbuster

    Fogbuster Pro Bowl Player

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    You need to crawl out from under your rock more often!!! You're about 5 years behind the curve!!

    Get a life!! Dude!

    Here's one: Bush defends capitalism on eve of economic summit - Yahoo! News


    :D

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  16. Fogbuster

    Fogbuster Pro Bowl Player

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    Ooops, here we go: a product of modern American public school education, now turned over to the liberal elites of northern California to complete his total brainwashing about all things socialistic!!

    Dude, go check out the Hoover Institution near you. See what you're missing in life.


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  17. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Maybe Bush could give a speech on no more fires in California, or how about rebuilding the gulf coast and Galveston, or figuring out how to make the auto industry solvent once again.. he is truly a magical man... :pigsfly::pigsfly:
     
  18. Fogbuster

    Fogbuster Pro Bowl Player

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    You don't ask much. :rolleyes:

    But, actually, he has offered some wisdom on the last of these: outright bail-outs of 40 years of inadequate design, marketing, and labor relations is not the answer. Whether it's over-priced execs who turn out non-competitive products, or greedy unions holding management hostage, neither way is up to 21st century standards. Why the Big Three cannot follow the successful models of the Japanese automakers is an issue the U.S. auto makers have to work out.

    Can take a horse to water but can't make him drink.


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  19. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    But Wall Street Drank and he is responsible for that, yea right..
     
  20. Fogbuster

    Fogbuster Pro Bowl Player

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    What can I say, the numbers don't lie: Bush says, "We need to drill more for oil on American lands/seabeds" and the price of crude starts a nose-dive of epic proportions, from $149/barrel to $60/barrel in 4 months. At the pump prices fall from nearly $5 per gallon to now about $2 per gallon.

    Now, Bush goes on TV and says: "Market economics of supply and demand are the way to go. We need to watch market dynamics more carefully than ever before, but we must NOT change the tried and true free market system", and the Dow/other indices shoot up almost 7% in one day.

    Thems the facts.


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