WTF, I go sleep and when I wake up...Follow

and Oil's at $140 and the Dow's off 300 points?

Where's Gbaji to assure me that the economy's doing great.

On the other hand, $5 gas is probably good for the 'Bama.

Well, it's balanced by the promising unemployment figures released today.

Some ISPs are starting to cap monthly bandwidth at 5GB. He is probably already over his limit.

Top 10 hits of 1989. I think that's all the evidence we need

1. Look Away, Chicago
2. My Prerogative, Bobby Brown
3. Every Rose Has Its Thorn, Poison
4. Straight Up, Paula Abdul
5. Miss You Much, Janet Jackson
6. Cold Hearted, Paula Abdul
7. Wind Beneath My Wings, Bette Midler
8. Girl You Know Its True, Milli Vanilli
9. Baby, I Love Your Way/Freebird, Will To Power
10. Giving You The Best That I Got, Anita Baker

Sounds like the markets reacting to Obama winning the Dem nomination. Kind of a collective "OMG we're in trouble..."

Pfftt... so called "experts". Gbaji knows this stuff intuitively. He once BS'd his way through a conversation with an economics professor and had the guy saying "Why yes, I should investigate the effects of rape marks on mutual funds!"

On a more serious note, all the accounts I've seen say that the Dow drop was largely due to the unemployment numbers coming a rather astonishing .4% higher than Wall Street predicted. And the jump in oil didn't help any.

On a personal note, my short oil position reached out of the computer and punched me right in the ******* when I peaked at it through a hand covering my eyes.

The real ***** is that I was going to use my earning from that to invest in Lucent.

Haha. Good memory. Although that worked out ok after about three years. By "ok" of course, I mean the S&P 500 beat it by like 11 fold, but I had the moral satisfaction of not actually losing money on the transaction.

ETA: Nope, I'm wrong, I did indeed lose money there.

Edited, Jun 6th 2008 7:04pm by Smasharoo

Um... So they've prepared. Doesn't change the panic of the investors though. It's not like everyone doesn't know that the economy will go into the dumps if he manages to somehow win the election. High taxes and big government tends to do that...

Maybe a hot, sweltering weekend with the possibility of power blackouts will give everyone a new perspective come Monday.

Even you don't believe that Smash. They're tossing money at Obama's campaign, hoping that this will allow them to have some influence later on, if he should become president.

Also, don't conflate what some large investors want personally, versus what's actually best for the industry they work for. I'm quite certain that Soro's isn't pumping money into Obama's campaign because he actually thinks that Wall Street will do better under him as president.

From the article you linked:











Hah! Nothing says "we support you" like saying your economic policies are ok because you don't think that Congress will actually enact them.

Lol! You actually read this article and thought it somehow indicated that Wall Street is ok with Obama?


Wall Street as a group is pumping money at Obama, but *not* because they think he'll be good for business. They're doing so in order to try to prevent him from being too bad for business. They don't have to send much McCain's way because they're pretty confident he wont ***** things up too much.


And that's just the big guys. The average investor is certainly not of the same opinion as folks like Soros, Griffin, and Buffet. They're terrified of what will happen to their investments if he becomes president. Absolutely...





You know what Smash? You're like a broken record on this. You do keep saying this over and over. And guess what? Every once in awhile the economic conditions do match your predictions. But most of the time they haven't.

A broken clock is still right twice a day Smash. That's pretty much you in a nutshell...



Ah. You say this, and then insist that there's no reason for those same people to be concerned about Obama becoming president? Oh no! That can't possibly have a negative effect on the market!

We're not talking about "the economy" (although you're just as wrong there too). We're talking about investors. The bulk of whom will be negatively impacted by the exact taxes you're talking about. Of course they're going to panic when they realize he might just become president and might just be able to impose those taxes on them.

It's exactly the kind of short term shock that will cause a sudden large drop in the market.



You're just really bad at economics Smash. In what world do you think that raising capital gains taxes will make the equity on my house increase? How exactly does that work Smash? There's *less* money available to buy houses if you raise taxes. Duh! It's not like the government entitlements are going to include the ability to pay 400k+ for a condo in a nice part of town.

Home equity increases as the market grows. The market grows because more people are willing to spend more money on property, both to live in and to invest in. They're always going to be less inclined to do so if the taxes they have to pay at the end are increased. Always. There's simply no argument you can make to try to claim that raising taxes will somehow make property values go up. It's not only moronic, but so obviously so that it's painful just witnessing someone trying to say it will.

Even you don't believe that Smash.

Hi. I know you have great difficulty recognizing this, but we're discussing a factual statement. There's nothing to "believe". The Wall Street investment community has donated more money to Obama than to any other candidate. They are doing this because they believe he will win.

Are you arguing that they are donating the most money to the candidate they believe will lose the election?



They're tossing money at Obama's campaign, hoping that this will allow them to have some influence later on, if he should become president.


Yes, good thinking. That completely refutes what I posted: They don't care about ideology, they care about access to power..

Oh wait, it's the exact same thing. Imagine that. Thanks for paraphrasing what I've already posted as if it were some sort of original though, though. It never gets old. Maybe now you could "explain" it to me and **** it up.



Also, don't conflate what some large investors want personally, versus what's actually best for the industry they work for. I'm quite certain that Soro's isn't pumping money into Obama's campaign because he actually thinks that Wall Street will do better under him as president.


Actually Soros (I'm not sure what the apostrophe's doing there in your post) absolutely *does* believe this, so this is an astoundingly bad example on your part. It's not really your fault, though, as you're completely ignorant on the subject and incapable of being educated. Anyway, carry on.


Hah! Nothing says "we support you" like saying your economic policies are ok because you don't think that Congress will actually enact them.

Yeah, Hah! No one claimed Wall Street preferred Obama for his policies. In fact, Hah! As I've already pointed out, they don't care about ideolgy, they care about access to power. Thanks again for repeating what I've posted, though. It's good to know that when you're too lazy to google something you'll just use whatever ideas are immediately in front of you instead of thinking.


Lol! You actually read this article and thought it somehow indicated that Wall Street is ok with Obama?

No, moron. I know you have great difficulty understanding the written word, so let me try this one more time:

IT INDICATES THEY THINK HE'S GOING TO WIN

Not that they WANT him to, that they judge that he will.

I'm not saying they're going to vote for him, I'm saying these people who spend billions and billions studying how to predict outcomes believe that Obama will win.



You know what Smash? You're like a broken record on this. You do keep saying this over and over. And guess what? Every once in awhile the economic conditions do match your predictions. But most of the time they haven't.


Really? Most of the time they haven't matched my prediction that at the end of the Bush administration we'd be where we are?

Hey, I have an idea. Let's compare what I told you would happen to the economy with what did happen and then as comic relief, we'll have what you argued would happen.


Of course they're going to panic when they realize he might just become president and might just be able to impose those taxes on them.

Look, this is just embarrassing for both of us. NO ONE IN THE WORLD believes the market turned down today because Obama won a nomination they knew he'd win three months ago. The grown ups have already discussed the actual reasons for the drop today, you should go back and read up on them.


In what world do you think that raising capital gains taxes will make the equity on my house increase? How exactly does that work Smash?

The world where it leads to speculation that weakens the credit market. You know, the one you fucking live in?



Home equity increases as the market grows. The market grows because more people are willing to spend more money on property, both to live in and to invest in. They're always going to be less inclined to do so if the taxes they have to pay at the end are increased. Always. There's simply no argument you can make to try to claim that raising taxes will somehow make property values go up. It's not only moronic, but so obviously so that it's painful just witnessing someone trying to say it will.

Boy that's a great factless religious argument. Does it bother you at all that every time this has happened in history the opposite has happened?

Does it trouble you at all that exactly what I've told you would happen, did happen, for exactly the reasons I outlined?

I'm sure it doesn't. You have faith, right? That's way stronger than logic. No argument here, little fish.