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Obama caused the loss of 10 trillion dollars
    #9068424 -

There was someone on Fox News today that said that Obama's lead caused the stock market to crash.

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Re: Obama caused the loss of 10 trillion dollars [Re: Luddite]
    #9068486 -

okay


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http://www.myspace.com/4th25


"And I don't care if he was handcuffed
Then shot in his head
All I know is dead bodies
Can't fuck with me again"

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Re: Obama caused the loss of 10 trillion dollars [Re: Luddite]
    #9068491 -

best thread ever

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Re: Obama caused the loss of 10 trillion dollars [Re: Rebirtha]
    #9068518 -

Evan said:
best thread ever



I think it might be.

Best laugh I had all day anyway.

Thanks Luddite.

:rofl2:
Fox News :lol:

Let me guess, was it Hannity that said that?

Maybe McCain should use this Fox news in his next campaign comercial.


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Ahuwale ka nane huna.

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Re: Obama caused the loss of 10 trillion dollars [Re: gettinjiggywithit]
    #9068537 -

gettinjiggywithit said:
Evan said:
best thread ever



I think it might be.

Best laugh I had all day anyway.

Thanks Luddite.

:rofl2:
Fox News :lol:

Let me guess, was it Hannity that said that?

Maybe McCain should use this Fox news in his next campaign comercial.



:thumbup:


--------------------
Muppet Said:

so yeah:
- 'sex' five times
- once with a man
- once with a cadaver
- and thrice with actual women(all of which were prostitutes)
Best story ever!

www.panicstream.com :thumbup:

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Re: Obama caused the loss of 10 trillion dollars [Re: Luddite]
    #9068603 -

zappa calls me out on bullshit, well, where is that fucker now, when he's REALLY needed?


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channel your inner Larry David

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Re: Obama caused the loss of 10 trillion dollars [Re: demiu5]
    #9068634 -

It doesn't matter as long as it's against Obama. :lol:


--------------------
Muppet Said:

so yeah:
- 'sex' five times
- once with a man
- once with a cadaver
- and thrice with actual women(all of which were prostitutes)
Best story ever!

www.panicstream.com :thumbup:

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Re: Obama caused the loss of 10 trillion dollars [Re: pinkfloydms]
    #9068660 -

Shocking a Fox News type that doesn't understand the stock market or Politics.:lol:


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The trouble with fighting for human freedom is that one spends most of one's time defending scoundrels. For it is against scoundrels that oppressive laws are first aimed, and oppression must be stopped at the beginning if it is to be stopped at all.
     
~H. L. Mencken~

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Re: Obama caused the loss of 10 trillion dollars [Re: Smackshadow]
    #9068671 -

I CANT BELIEVE I USED TO WATCH FOX NEWS 4 REALZ


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Re: Obama caused the loss of 10 trillion dollars [Re: Luddite]
    #9068794 -

Them wiley negroes!!!  :shakefist:

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Re: Obama caused the loss of 10 trillion dollars [Re: demiu5]
    #9070458 -

demius said:
zappa calls me out on bullshit, well, where is that fucker now, when he's REALLY needed?



I call you out on bullshit when you say bullshit.  This right now is the first second I have seen this post (I work my way down through the busier threads).  There is probably quite a lot of hyperbole in the number but I have very little doubt that the fear of a capital gains tax increase, which he has pledged, coupled with his lead is probably driving some of the selling.  I wouldn't be dumping now, but I would certainly move to get out of the stock market over the next few months after the election if Barry should somehow win.  If I had invested in the stock market, which I didn't.

And, really, "that fucker"?  I only strive to teach, Grasshopper.  Your displeasure with the lesson does not make me a "fucker".  You blowhole.;)


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Re: Obama caused the loss of 10 trillion dollars [Re: zappaisgod]
    #9070582 -

The line, Obamas Lead in the Polls Caused 10 trillion Dollar Global Economic Crisis is just funny.

In all seriousness, there could be some truth related to the recent market drops, Zappa is pointing out.

Quote:
http://www.politifact.com/truth-o-meter/statements/405/


Hillary Clinton and Barack Obama want to raise taxes on dividends, a move that would crash the stock market.
Chain e-mail on Thursday, March 13th, 2008 in a chain e-mail

Dividends taxes won't crash the market

A chain e-mail accuses Sens. Hillary Clinton and Barack Obama of wanting sharp tax increases, while praising Sen. John McCain for holding the line. (Click here to read the chain e-mail in its entirety.)

The e-mail asserts that Clinton and Obama want to raise capital gains taxes and dividends taxes, as well as raise tax rates for all income levels. We’ll look at dividends taxes here.

Dividends are payments that companies make to stockholders as a way of distributing profits. Before the Bush administration, dividends were taxed like normal income, with the rate for the wealthiest taxpayers reaching 39.6 percent. President Bush cut the tax rates on dividends to 15 percent, the same as capital gains taxes. Obama has said he will let the dividends tax cut expire so that dividends will be taxed at the same rate as normal income. We can't find an example of Clinton directly addressing the dividends tax, but she has spoken repeatedly about letting the Bush tax cuts expire for higher income taxpayers. Her campaign didn't respond to our questions.

Here's what the e-mail states:


"DIVIDEND TAX

MCCAIN

15% (no change)

OBAMA

39.6%

CLINTON

39.6%"

"How will this affect you?" the e-mail asks. "If you have any money invested in stock market, IRA, mutual funds, college funds, life insurance, retirement accounts, or anything that pays or reinvests dividends, you will now be paying nearly 40% of the money earned on taxes if Obama or Clinton become president. The experts predict that 'Higher tax rates on dividends and capital gains would crash the stock market yet do absolutely nothing to cut the deficit.'"

The e-mail's explanation gets a few things wrong. Only taxpayers in the top bracket would pay 39.6 percent on dividends taxes. It's also unlikely that an increase in dividends taxes would crash the stock market.

"That's hyperbolic," said William Ahern, a spokesman for the Tax Foundation, a progrowth tax policy think tank that opposes increases in dividends taxes.

Another tax policy expert also shot down the stock-market-crash scenario:

"Raising the dividend tax could cause some high income U.S. investors to move some of their wealth out of stocks, but all the analyses I have seen suggested the effect on the stock market would be small and would be swamped by changes in stock prices due to other causes," said Eric Toder, a tax policy expert with the Urban Institute.

We find the e-mail gets its summary of the dividends tax only partially correct, though it is right that Obama specifically proposes an increase on the tax and Clinton has indicated she wants to let the Bush tax cuts expire for higher-income taxpayers. But Clinton hasn't staked out a specific change on the dividends tax and it's misleading for the e-mail to use one. And, the e-mail is wrong to suggest a change in the dividends tax would cause the stock market to crash. We rate its claims Barely True.




--------------------
Ahuwale ka nane huna.

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Re: Obama caused the loss of 10 trillion dollars [Re: gettinjiggywithit]
    #9082327 -

Wow, its worse than I thought.  Divis and capital gains will be taxed at a higher rate if Obama gets elected.  He's tricking the white man into paying slavery reparations hundreds of times over.

Dudly Do-right got one of the mortgage brokers here.


Edited by Luddite (10/15/08 04:30 PM)

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Re: Obama caused the loss of 10 trillion dollars [Re: Luddite]
    #9082478 -
Log in to view attachment

Check out this article I uploaded.
The Color of Money

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Re: Obama caused the loss of 10 trillion dollars [Re: Luddite]
    #9087369 -

Another slap in the face for the Republican haters.


Ayers Is No Education 'Reformer'
The new media spin is worse than Obama's original evasion.

One of the most misleading statements during the presidential debates was when Barack Obama claimed that William Ayers was just "a guy in the neighborhood."

But that piece of spin is nothing compared to the false story now being peddled by Mr. Obama's media supporters that Mr. Ayers -- who worked with the Democratic nominee for years to disperse education grants through a group called the Chicago Annenberg Challenge -- has redeemed his terrorist past. In the New York Times, for example, Frank Rich writes that "establishment Republicans and Democrats alike have collaborated with the present-day Ayers in educational reform."

I've studied Mr. Ayers's work for years and read most of his books. His hatred of America is as virulent as when he planted a bomb at the Pentagon. And this hatred informs his educational "reform" efforts. Of course, Mr. Obama isn't going to appoint him to run the education department. But the media mainstreaming of a figure like Mr. Ayers could have terrible consequences for the country's politics and public schools.

The education career of William Ayers began when he enrolled at Columbia University's Teachers College at the age of 40. He planned to stay long enough to get a teaching credential. But he experienced an epiphany in a course offered by Maxine Greene, who urged future teachers to tell children about the evils of the existing, oppressive capitalist social order. In her essay "In Search of a Critical Pedagogy," for example, Ms. Greene wrote of an education that would portray "homelessness as a consequence of the private dealings of landlords, an arms buildup as a consequence of corporate decisions, racial exclusion as a consequence of a private property-holder's choice."

That was music to the ears of the ex-Weatherman. Mr. Ayers acquired a doctorate in education and landed an Ed school appointment at the University of Illinois at Chicago (UIC).

Chicago might seem to be the least likely place for Mr. Ayers to regain social respectability for himself and his wife, Bernardine Dohrn. After all, the Windy City was where their Weathermen period began in 1969, with Mr. Ayers, Ms. Dohrn and their comrades marauding through the Miracle Mile, assaulting cops and city officials and promulgating slogans such as "Kill Your Parents."

But Chicago's political culture had already begun to change by the time the couple returned in 1987. And the city would change even more dramatically when Richard Daley Jr. became mayor in 1990.

Daley the son has maintained as tight a rein over the city's Democratic Party machine as did his father, doling out patronage jobs and contracts to loyalists and tolerating as much corruption as in the old days. But unlike his father, he was ready to cut deals with veterans of the hard-core, radical left who were working for their revolutionary ideas from within the system they once sought to destroy from without. There is no lack of such veterans. One of Chicago's congressmen, Bobby Rush, is a former chairman of the Illinois Black Panther Party; Louis Gutierrez, a former leader of a Puerto Rican liberation group, the Puerto Rican Socialist Party, is another.

In this Chicago, where there are no enemies on the left, Mr. Ayers's second career flourished. It didn't hurt that his father, Thomas Ayers, was the CEO of the Commonwealth Edison company, a friend of both Daleys and a major power broker in the city.

Mr. Ayers was hired by the Chicago public schools to train teachers, and played a leading role in the $160 million Annenberg Challenge grant that distributed funds to a host of so-called school-reform projects, including some social-justice themed schools and schools organized by Acorn. Barack Obama became the first chairman of the board of the Chicago Annenberg Challenge organization in 1995. When asked for an opinion on the Obama/Ayers connection, Mayor Daley told the New York Times that Mr. Ayers had "done a lot of good in this city and nationally."

In fact, as one of the leaders of a movement for bringing radical social-justice teaching into our public school classrooms, Mr. Ayers is not a school reformer. He is a school destroyer.

He still hopes for a revolutionary upheaval that will finally bring down American capitalism and imperialism, but this time around Mr. Ayers sows the seeds of resistance and rebellion in America's future teachers. Thus, education students signing up for a course Mr. Ayers teaches at UIC, "On Urban Education," can read these exhortations from the course description: "Homelessness, crime, racism, oppression -- we have the resources and knowledge to fight and overcome these things. We need to look beyond our isolated situations, to define our problems globally. We cannot be child advocates . . . in Chicago or New York and ignore the web that links us with the children of India or Palestine."

The readings Mr. Ayers assigns to his university students are as intellectually diverse as a political commissar's indoctrination session in one of his favorite communist tyrannies. The list for his urban education course includes the bible of the critical pedagogy movement, Brazilian Marxist Paolo Freire's "Pedagogy of the Oppressed"; two books by Mr. Ayers himself; and "Teaching to Transgress" by bell hooks (lower case), the radical black feminist writer.

Two years ago Mr. Ayers shared with his students a letter he wrote to a young radical friend: "I've been told to grow up from the time I was ten until this morning. Bullshit. Anyone who salutes your 'youthful idealism' is a patronizing reactionary. Resist! Don't grow up! I went to Camp Casey [Cindy Sheehan's vigil at the Bush ranch in Crawford, Texas] in August precisely because I'm an agnostic about how and where the rebellion will break out, but I know I want to be there and I know it will break out." (The letter is on his Web site, www.billayers.org.)

America's ideal of public schooling as a means of assimilating all children (and particularly the children of new immigrants) into a common civic and democratic culture is already under assault from the multiculturalists and their race- and gender-centered pedagogy. Mr. Ayers has tried to give the civic culture ideal a coup de grace, contemptuously dismissing it as nothing more than what the critical pedagogy theorists commonly refer to as "capitalist hegemony."

In the world of the Ed schools, Mr. Ayers's movement has established a sizeable beachhead -- witness his election earlier this year as vice president for curriculum of the American Education Research Association, the nation's largest organization of education professors and researchers.

If Barack Obama wins on Nov. 4, the "guy in the neighborhood" is not likely to get an invitation to the Lincoln bedroom. But with the Democrats controlling all three branches of government, there's a real danger that Mr. Ayers's social-justice movement in the schools will get even more room to maneuver and grow.

Mr. Stern is a senior fellow at the Manhattan Institute and a contributing editor of City Journal. He is writing a book, to be published by Encounter, on William Ayers and social justice teaching.

http://www.wsj.com/article/SB122411943821339043.html

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Re: Obama caused the loss of 10 trillion dollars *DELETED* [Re: Luddite]
    #9087447 -

Post deleted by LunarEclipse

Reason for deletion: BO



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Anxiety is what you make it.

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Re: Obama caused the loss of 10 trillion dollars [Re: LunarEclipse]
    #9096571 -

McCain won the debate.  That's why the Dow went up 400+ points.  I keep seeing people on CNBC saying that Obama is bad for stock investing.  A lot of people are selling now to get the 15% capital gains instead of waiting for Obama to raise them.  I saw one guy on CNBC talk about how this sell off is a rare opportunity to buy stocks at a low price, but if Obama gets elected to forget everything he said.

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Re: Obama caused the loss of 10 trillion dollars [Re: Luddite]
    #9098479 -

Do you actually believe the shit that comes out of your mouth?


--------------------
Muppet Said:

so yeah:
- 'sex' five times
- once with a man
- once with a cadaver
- and thrice with actual women(all of which were prostitutes)
Best story ever!

www.panicstream.com :thumbup:

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Re: Obama caused the loss of 10 trillion dollars [Re: Luddite]
    #9098511 -

Obama is a joke. MCCAIN 08!


--------------------
Draft Beer, Not people!

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Re: Obama caused the loss of 10 trillion dollars [Re: devious420]
    #9218657 -

Markets Greet Obama With Historic Sell-0ff

By Noel Sheppard, OpEd Contributor
- 11/10/08
Wall Street gave president-elect Barack Obama a rude welcome with an historic sell-off that saw the Dow Jones Industrial Average plummet by 7.1 percent following Election Day. This represented the largest post-presidential election decline in the modern era.

Since 1900, the worst such three-day performance for the Dow was a 6.0 percent fall after Harry S Truman was reelected in 1948. Such titanic declines are atypical as markets normally rally immediately after presidential elections with the average since the beginning of the 20th century being a 0.7 percent rise.

Welcome to the White House, Mr. Obama.

To be sure, with the market's volatility of late, as well as the state of the economy, there certainly can be a number of explanations for this historic collapse. However, given the magnitude of the decline Wednesday and Thursday – the Dow lost almost ten percent in two days only to recover some Friday – there's no question this represented Wall Street's vote of no confidence in Obama's economic plans for the future.

In particular, the markets clearly believe Obama will seek to raise taxes on long-term capital gains shortly after Inauguration Day. This acts to put pressure on stocks before the end of the year as people who still have gains will look to sell before December 31 in order to take advantage of the current laws.

Investors also think any increase in the current capital gains tax-rate will negatively impact stock returns for years to come, as every time such rates were reduced in the past three decades equities fared very well.

Yet, it's not just higher capital gains taxes Wall Street is worried about, for despite Obama's campaign promises to cut income taxes on 95 percent of workers while raising them only for folks making over $250,000 a year, few involved in the markets believe him.

After all, the fiscal 2009 budget deficit is quite daunting to say the least. Under the original projections of unified revenues (including Social Security and Medicare) of $2.7 trillion, and unified expenditures of $3.1 trillion, the Gross Domestic Product was expected to grow by 2.2 percent and unemployment to be 5.6 percent.

You can toss that latter assumption out the window, as it was reported Friday that unemployment in October climbed to 6.5 percent which is destined to go much higher in the coming months likely stopping in the eights if we're lucky. And, as the recession has certainly started, 2.2 percent GDP growth in FY '09 seems highly-doubtful.

As such, $2.7 trillion in tax receipts might be a very aggressive forecast. Maybe more important, $3.1 trillion in projected expenditures doesn't include the $700 billion (and counting!) allocated to bailing out failed financial institutions.

This means that for the first time since World War II, America will spend at least 40 percent more than it collects creating a budget deficit almost guaranteed to be in excess of $1 trillion, possibly as high as $1.5 trillion.

With this in mind, the talk coming from Democrats like House Financial Services Committee Chairman Barney Frank that tax hikes on the wealthiest Americans may have to be postponed next year due to the recession seems destined to be a lot of pre-election hooey, as does Obama's claim that only those making above $250k will be targeted.

On the flipside, Obama has promised low income voters who don't currently pay federal taxes that they're going to get checks to offset their property and state taxes...and that's a promise Obama is likely to keep.

Add it all up, and higher income taxes, higher capital gains taxes, and an exploding budget deficit don't portend good things for the economy or stocks.

If only folks would have realized this before Election Day.

Noel Sheppard is associate editor of the Media Research Center's NewsBusters.org.


http://www.dcexaminer.com/opinion/Markets_Greet_Obama_With_Historic_Sell-0ff.html

Edited by Luddite (11/10/08 03:20 PM)

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