05 November 2008

Wall Street Celebrates Obama Election With Record Plunge

It seems that Wall Street took Barack Obama's campaign promise to tax rich folk and big corporations seriously as the Dow plummeted 486 points, the worst post-election collapse ever recorded.


Wow, he's only the President Elect and already bringing in Change!

This is going to be an interesting four years.

7 comments :

  1. WomanHonorThyself said...

    good grief!..ah yes chaaaaaaaaaaaaaaaaaange!!..but my friend..I won't give up the fight...just yet! :)

  2. Freadom said...

    It was aweful. We lost our sherrif, we have our first democratic rep in 100 years...

    ahhhhhhhh

  3. NEO, SOC said...

    The Dow will plunge below 6000 on January 21st.

    No company will survive under the Obamanation.

  4. Anonymous said...

    LOL….that’s a meaningless statistic considering that Wallstreet has been collapsing since September…under George W. Bush. He was elected on Tuesday and if I remember correctly not only was the United States in trouble but the rest of the World as well, lets cut the guy a little slack and start being a little more positive about our own futures.

  5. Khaki Elephant said...

    Anon, while the financial problems have existed (and we may want to look at what the Dems in the congress have done to aid that horrible situation) Wall Street generally respounds with a glimmer of hope post-election. In Obama's case the DOW display record-breaking despair. And if you were watching, it didn't recover on day 2.

  6. Khaki Elephant said...

    Freadom, this was a rough one for Michigan. I'm in what used to be a red county in a blue state . . . but no more. It's amazing given the fact that our Dem Governor has nearly destroyed our economy with her idiotic tax scam that has caused companies to pull up stakes and move to red states.

  7. Khaki Elephant said...

    WHT, I'm with you in the fight.

    Neo, I hope you're wrong but fear you're not. Liberals admire Europe and want their approval . . . well, it looks like we're going to get their economy. If they think things are bad now, they need to compare our unemployment, average income and GNP to France, Germany and Spain (forget Ireland, they lowered their corporate tax rate to around 11% and have a booming economy).