Just heard on CNBC the stock crash is

[doc03]

the Market reacting to the possibility of an Obama Presidency. So it's Obama's fault. I don't know who the guy was but they had four talking heads on and that's what one said. He said the surge in the polls for Obama is bad for the Market and that this is the Market voting on the possibility of an Obama Presidency. Sorry I don't know who the guy was, I see him often on CNBC talking about the Market..

on edit: Just saw him again his name is Steven Moore

[gateley]

1. That's absurd. Did any of the others comment on that? nt

[doc03]

15. They went to commercials n/t

[gateley]

20. How convenient. nt

[ErinBerin84]

2. that's what they said for Kerry too.

It's really SAD that this is still the script.

[Arrowhead2k1]

3. WTF?

Who the hell said that?!

[timber84]

4. HORSE SHIT.

The market is reacting to what happened in Asia and Europe trading.

[thewiseguy]

5. Most Americans prefer Obama when it comes to economy.

[SmokingJacket]

6. Damn, is that ever stupid.

It has nothing to do with the credit crisis, eh? :crazy:

Anyway, markets do better under democrats, historically.

[bunnies]

7. ummm... what?!

Didnt the meme used to be: Wall St. LOVES Obama! :shrug:

[K Gardner]

8. That's OK, I just heard on Fox Business News that if the bill fails, its Move On.Org's fault..

I just posted about it in GD. The logic these conservative pundits and analysts are going to use to try to blame this on
Dems
Obama
Liberals

Is just getting started.. enjoy ! :hi:

[scheming daemons]

9. My sister-in-law is a Wall Street broker... she says the level of support FOR Obama among

her colleagues is astounding and unprecedented for a Democrat.


Wall Street wants Obama.

[Renew Deal]

10. Maybe it's due to the bailout progressing.

Because the bailout is going to devalue the dollar badly.

[doc03]

11. He is talking now Steven Moore is his name. n/t

[Wilms]

22. And here's his bio...

http://www.cnbc.com/id/24731138

:puke:

[doc03]

27. So Steven Moore is really the cause of this mess, no wonder

he wants to shift the blame.

[Cassandra]

25. Isn't that the asshole who works..

with Grover Norquist?

[liberal N proud]

12. Obama = the new Clinton

If Obama gets elected the right may actually leave the Clinton's alone and blame Obama for everything.

[cosmodem]

28. and maybe the Left will leave him alone also?

[Fearless]

13. Check this out... the stock market under a Democrat...

Gains (%) for Stocks by Party of the President and Majority Party in Congress
03/04/1901–10/23/2006

Political Variable Stocks
(DJIA)
Democratic President 7.19%
Republican President 3.85%
Democratic Congress 6.46%
Republican Congress 3.51%
Dem Pres, Dem Cong
6.53%
Dem Pres, Rep Cong 9.60%
Rep Pres, Rep Cong 1.54%
Rep Pres, Dem Cong 6.37%

All Periods Buy & Hold 5.34%


http://bigpicture.typepad.com/comments/2006/10/market_gains_by_1.html



ENOUGH SAID.

[protect our future]

14. That's absurd. The market hates uncertainty.

Things are just a wee bit uncertain right now, aren't they.

An Obama presidency will be a boon to the market and hopefully it will soar.

[Schulzz]

16. So they now accept that Obama is winning and start blaming him for everything? nt

[annabanana]

17. CNBC is a cesspool of RW neo-con true

believers no-regulation freemarket radicals until their asses are on the line.. .

They are about as far out of touch as it is possible to be.

[gauguin57]

18. Blame Bush ... and the Supreme Court ... for every eff'd up thing going on in this country.

Blame Bush ... and the judicial cretins who put him in the White House ... and McSame who supports everything Dubya does.

BLAME BUSH BLAME BUSH BLAME BUSH. Stock market crashing? BLAME BUSH!

Can't get a loan or a mortgage? BLAME BUSH!

Your 401-K in the toilet? Can't retire when you planned? BLAME BUSH!

I think cancelling Bush's presidential pension should be part of the bailout bill!!!!!!

[mwb970]

19. This Steve Moore?

http://www.listal.com/video/1400726

[doc03]

21. Yep, that's the asshole that said it surprise he likes MCCain n/t

[YvonneCa]

23. HEAR THIS: The blame here goes to Bush and the Republicans...

...not Obama, the Democrats or Move-On. They didn't regulate because of their ideology to let markets rule and their 'ownership society.'

Say it again: This is the fault of eight years of Bush/Cheney and Republican policy. Period.


Keep saying it. LOUDLY. And often.

[doc03]

26. Agree, the Democrats should have already

named this mess and hung it around the Republicans neck. Call it the Bush Bailout, Republican Bailout, the Trickle Down recession/depression etc. Bush (41) left Clinton with a mess that was called the Clinton recession all the good years were the Bush (41) Economy. Under Bush 43 everything bad that has happened was Clinton's fault even 911 was his fault 8 months after he left office.

[YvonneCa]

30. I absolutely agree. That's how to make it really LOUD. n/t

[Brotherjohn]

24. Yes, of course. And nothing else AT ALL that might afect the markets is happening today, right?

I mean, of all days.

[leftist.]

29. It would be absurd to say that about either candidate.

I loathe when talking heads pull that nonsense. Hate radio host Hugh Hewitt once tried to convince his audience to sell stock (and even claimed that he had done so himself, telling listeners that he sold half of everything he owned) because the market didn't like Obama.

[invictus]

31. Actually the stock crash in a reaction to the BUSH presidency.

A global depression would the reaction to a McCain presidency.

[Ganja Ninja]

32. If they're panicked about anything political it's the possibility of

the Palin/McCain administration. McCain on his own is bad enough but Palin backing him up?!!! That's a scary thought especially given McCain's age.

[Jane Austin]

33. Steven Moore is the guy behind the

Club for Growth.

He's as right-wing an idealogue as there is.

[skipos]

34. since 1901, has the stock market has performed significantly better under Dem presidents

Democratic presidents historically yield better economies. Even Forbes has some ratings of economic prosperity that support this.

"Not surprisingly, Bill Clinton tops the magazine's prosperity chart. He is followed by two other Democrats – Johnson and Kennedy. The first Republican to show up is Reagan, who comes in fourth. No Democrat finishes lower than seventh (Truman), and the last three spots are all occupied by Republicans (Nixon, Eisenhower and George H.W. Bush). On a scale of one to eleven (one being Bill Clinton, eleven being the elder Bush), Democrats have an average ranking of 3.8, Republicans of 7.8."

http://www.americanprogressaction.org/issues/2004/prospertity_presidents.html

That probably explains why democrats are better for the stock market too.

DOW SINCE 1901
Republican years Avg. annual change 6.9%
Democratic years Avg. annual change 13.3%
Source: Stock Trader's Almanac 2005

http://www.usatoday.com/money/perfi/columnist/krantz/2005-12-02-presidents_x.htm

This link is old, but the market has been pretty flat since it was written.