Today, after last week’s non-panic, the markets and the money men were expected to bail out the boob with a massive vote of confidence in the form of a stock market rally in the United States. But the money men abandoned little Barack in the same way his sperm donor father kept the stork and dumped the trash can baby:
“The blue-chip index tumbled almost 200 points from its session high this morning and is trading lower for the seventh-straight session.
The S&P 500 and the tech-heavy Nasdaq also declined. The S&P dipped below its 200-day moving average of 1284.34. The index has not closed below its 200-day moving average since September 10. The S&P is now down nearly 4.5 percent over the past 6 days. [snip]
“Unbeknownst to what many of our trusted lawmakers may like to believe, the poor readings on the economy are not exclusive to the debt drama,” Todd Schoenberger, managing director of LandColt Trading told CNBC. “If they woke up this morning thinking trading would be a cakewalk and investors would parade Congress on their shoulders as a result of this so-called deal, they are clearly mistaken.”
The dismal news follows the government’s first reading on GDP last Friday, which came in at an anemic 1.3 percent, raising fears of a double-dip ahead.
Schoenberger added that traders are preparing for a “horrendous” non-farm payroll report at the end of the week and are struggling to find hopeful signs that the economy is recovering.”
“When I say incompetent, he’s competent in getting elected and re-elected, but as far as running the country, he’s incompetent,” Trump said.”
Trump, partly echoing our assessment from years ago, is being generous. Obama is only interested in his own advancement – the country can bleed to death.
As Trump continues to state the obvious, we recall a certain Rules and Bylaws Committee meeting. At that meeting Congressman John Conyers strutted through the halls, cane in hand like a latter day Charlie Chaplin clown, and helped rob Hillary Clinton of delegates and gift Barack Obama the nomination. Now Conyers is a born again racist (by definition anyone who speaks ill of Obama is a racist).
“Everybody is criticizing Republicans, but guess what. Every Republican who is in the Congress was legitimately elected like all of us. That was a choice that voters made. Now whether they made it wisely or still stick to it remains to be seen. I say we’ve got to educate the American people at the same time we educate the President of the United States. Because, the Republicans, Speaker Boehner or Majority Leader Eric Cantor did not call for Social Security cuts in the budget deal. The President of the United States called for that.”