Monday: House of Representatives passes debt ceiling increase/austerity package.
Tuesday: U.S. Senate
Thursday: Stock market plunges down over 500 points.
I’m sure it’s all just coincidental.
7 thoughts on “Congress passes austerity package, stock market slides. Coincidence? I think not!”
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Yep, Those “smart” Tea Party folks, going around disrupting Life as we know it, dismantling social and economic structures, meddling in complex economic streams with no real knowledge of how those interconnected groups work, creating more and more “Uncertainty” on every possible level and for every possible demographic group….and then squawking night and day about that same scaaaaaary “Uncertainty”
The cure for this is probably more and deeper cuts. Seems obvious to me. In fact we should probably just go out with sledge hammers, each of us, and just smash the crap out of everything we see. And it will have to be everything, nothing is off the table. Things would be so awesome then, all shiney-bright after all that Creative Destruction.
When will the Tea Party be outed as the Anarchists that they really are? I’ve never been a big fan of the Sedition Acts or charges of Treason, but if these people aren’t intent on “bringing down America” then I don’t know who is. Keep the focus on big scary Muslims so we don’t notice the idiot next to us who is really doing serious damage from within RIGHT NOW.
The whole stupid world is upside-down.
Rick Santelli can’t hide his disgust for Exra Klein’s economic illiteracy: http://dailycaller.com/2011/08/05/cnbcs-rick-santelli-vs-wapos-ezra-klein-on-lessons-of-the-economy-and-government/
PS: The White House said something true recently. They said “The White House doesn’t create jobs”. Indeed.
Is this the same Rick Santelli that didn’t have the guts to go on the Daily Show and face a comedian, Jon Stewart?
A real courageous guy, that Rick Santelli. A former hedge fund manager calling duped homeowners ” losers”.
Who are your other idols, Mr. B? I’ll bet it’s a real stellar lineup.
“The whole stupid world is upside-down. ”
It’s because you are standing on your head, Annie. A common Progressive problem it seems.
I defy you to explain this Santelli quote:
“And once we come to a new normal or a new stable foundation, maybe lower equity rates or lower interest rates…maybe we can cleanse the system of everything that seems to be slowing it down.”
Or are you just parroting him because he doesn’t like Ezra Klein?
And just to clarify the wrongheadedness of the author here.
Why did stocks dive?
“U.S. stocks fell the most in 32 months this week, erasing the Standard & Poor’s 500 Index’s 2011 advance, as investors fled equities on concern that the American economy is stalling and Europe’s debt crisis is intensifying. ”
http://www.bloomberg.com/news/2011-08-05/u-s-stocks-sink-in-biggest-drop-since-2008-on-economic-concern.html
No surprise. Failed Socialist policies in Europe ran them into an inevitable debt crisis that is affecting investors here. On top of that Obama has failed miserably at creating incentives for job creation here. A speech or some more class warfare should help. It’s done great so far………
You will have to clarify how that deal caused the stock market to slide. Supposed (I’ll believe it when I see it) spending cuts are bad for economic confidence? I think not. I am sure tax increases would have caused the market to jump. Everything I saw from financial folks (S&P) said the cuts would have to be deeper (neighborhood of $4 trillion) to maintain bond rating.
The reason for the stock market slide (reports I saw anyway) said it had to do with concerns about European debt (Greece, now Italy, etc.)