But, wait, there's more!

Washington — The Republican candidates for president eagerly diagnosed Monday's widespread stock sell-off, with President Barack Obama and China the most popular targets for blame on a day the Dow Jones industrial average fell by nearly 600 points.

Among them was Wisconsin Gov. Scott Walker, who blamed the tumble on what he called China's manipulation of its economy. He called on Obama to grow some "backbone" and call off a planned state visit next month by Chinese President Xi Jinping.

Last edited by Just Fred (8/24/2015 8:05 pm)

flowergirl wrote:

Are these people really this ignorant or are they always playing politics?  Anyone with even half a brain who listens to the analysts understands the ins and outs of stock market drops and rises.  What is it with them and others they believe the president is responsible for all the badness in the world.  Is there still so much anger because a black man was elected president that they make him their scapegoat?

The only counter-point I'll make to that is that I'm very sure we can look at a number of Presidential speeches over the past couple of years where Obama talks about the 6 year rise in the equities market as proof-positive that the Democratic Party's vision for economic growth is the correct one.

If you live by the rising market, you are sure to die by a falling one.

That said, Flowergirl is right in saying governments in most cases have little to do with the daily fluctuatuions in the markets and the right wing media and GOP politicians are certainly making stuff up to point to the problems in China that are creating the volitility that led to yesterday's downturn (and today's predicted rebound)

The stuff I found funny yesterday as the market was falling was Glenn Beck and the preppers telling everyone to stock up on gold, water, and survival seeds. On a 3% drop in the Dow?!?!?!
 

Some people choose to run on fear. They tell you that the world is going to hell in a handbasket - the market crashing, a flood of illegal immigration destroying our way of life - and only their election can save us.

It's also about finding villians. Suddenly a guy sneaking across the border so he can get a job picking fruit is "pillaging our economy" (Scott Walker's words),  and China is crashing the market for it's evil purposes.

Scott Walker's take on the economy is especially pathetic. Cancel the White House visit unless China "behaves"? Doesn't he know that China wants markets to crash about as much as we do?
Oh hell, let's go with it. 

"Hey, Mr. China leader! You put 1,200 points on the Dow right now or we will cancel the White House State dinner!"






And Trump has ceased to be funny. He really would trash the 14th Amendment and support the persecution of US citizens who were born to illegal alien parents.

.....the real issues with the market: computerized trading and manipulative tactics by market speculators, bank and investment house executives/traders concentrating on gambling rather than investment products.

rongone nailed it.

As a sidenote regarding Pat Robertson's assessment of the situation, the market rose 400 points at the beginning of the day so I guess God isn't pissed at us anymore.  What a relief. 


 

Last edited by Just Fred (8/25/2015 9:12 am)