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Thursday, November 13, 2008

Markets Fear Pbama Prednintcy

Stocks plunged on Wednesday for the third straight session.

This is market fear, reacting to the Marxist policies preached by Prednint-Elect Barack Hussein Pbama, Junior. His prednintcy is having a drastic negative effect on world markets, with the Nikkei plunging 5.27 percent in its opening Thursday morning with European markets falling as well.

The Nasdaq and S&P dropped dramatically on Wednesday also. IT Business Net:

    A sell-off in large-capitalization technology companies took the Nasdaq down to its lowest closing level in more than five years, beating the closing low hit at the end of October. The S&P 500 came close to retesting October's closing low.

    After the closing bell, Intel Corp added to the negative outlook for technology, sending stock index futures lower. The tech bellwether warned its revenue would be about 14 percent below its previous forecast due to weak demand around the globe.

The Markets fear Pbama and his Marxist economic policies. Who can blame them?

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I am unsure how much of the market can be assigned to Oba Anxiety but.........the ridiculous thing is.....Wallstreet gave more money to Oba then it did McCain. Maybe they thought it was a pipe dream or maybe they are already having buyer's remorse. Ha Ha If Oba does have socialist leanings (which I doubt) we should see him trying to monkey with the bailouts so that the government ends up permanently owning companies and mortgages. Otherwise he is just a socialist wanabee!
That is an excellent point about Obama trying to work it so govt end up owning the private sectors it is working to bail out. Very good point.

There is some market fear to Obama's policies and I have to hype it up for purely political and partisan reasons, but don't tell anyone that I wrote this. ;-)
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