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Hear Ye-hear Ye! STOCK MARKET RALLY HAD NOTHING TO DO WITH
Posted: Sep 6, 2012
Obama or the democratic party. This is for those who don't wish to go down to my first posting or wish to ignore it. I just want to make sure everyone is straight on this. OBAMA OR THE DEMOCRATIC PARTY HAS NOTHING TO DO WITH THE STOCK MARKET RALLY TODAY. There. Is that clear enough?
The stock market closed at 13,292 because the ECG (European Central Bank) is buying up bonds. It has nothing to do with Obama. I can't believe you're trying to give credit to him or the party.
"Speaking after a meeting of top ECB officials in Frankfurt, the central bank's president, Mario Draghi, reiterated his pledge to do "whatever it takes" to preserve the euro and said the ECB is prepared to make "outright monetary transactions," or OMTs, in the secondary market for euro-area government bonds."
"The move is aimed at Spain and Italy, which struggled with unsustainable borrowing costs earlier this year, but will be available to all euro nations."
Related: ECB outlines bond-buying program"The news out of Europe is boosting the market," said Jack Ablin, chief investment officer at Harris Private Bank. "It seems like investors were skeptical of the ECB being able to pull off unlimited bond buying authority, so that's really helping."
The ECB also left interest rates unchanged at 0.75% and lowered its outlook for economic growth in 2012.
;
when Obama took over from bush the S&P was 804 - Today S&P is 1432
[ In Reply To ..]***, what percentage increase would that be?
Nothing to do with Bush. Nothing to do with today's rally. - backwards typist
[ In Reply To ..]Stop trying to change facts. You can't change the fact that the stock market rallied because the ECB gave approval for unlimited bond buying.
Do you know what the ECB is???? EUROPEAN CENTRAL BANK. They're not buying into our bonds. They're buying bonds in EUROPE. This has NOTHING to do with Obama, or the democratic party. The only thing it has to do with America is the fact that our market rallied because they feel there is hope that Europe won't crash anymore than it has in the past year.
"A job is about more than a paycheck, it is about dignity" - Biden gets it
[ In Reply To ..]Corporations are not people.
Oops, posted in error - sm
[ In Reply To ..]Guess I shouldn't post while watching the convention. LOL
Yeah, and if the stock market... - (s/m)
[ In Reply To ..]...had plummeted today, I don't doubt for a minute that you would be blaming Obama. You cannot have it both ways--blaming him for everything bad but not giving him credit for anything good.
But thank you for the Economics lesson. We can read, and most of us aren't stupid.
The Obama detractors are sounding a little skeeved right now.
Never blamed Obama for the falling stock market - backwards typist
[ In Reply To ..]Putting words in my mouth or assuming is not something I relish. Never blamed Bush for it either. But don't let it stop you from blaming Bush like some on here do...in fact, right under my OP, someone blamed Bush. Its laughable.
The market goes up and down all the time. The world controls the stock market, not the president of a country.
Let the pubs know that, would you? They - blame him NM
[ In Reply To ..]x
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