July 27, 2011

"Dow Jones plunges 74 pts on news that @ChuckTodd wanted to see Obama's plan in writing."

Ha.

Via Legal Insurrection. Details on the Todd-Carney confrontation here.

41 comments:

Fred4Pres said...

Show a little balls MSM. How about asking Team Obama some tough questions.

Hagar said...

Well, Chuck Todd is a Democrat, so if he goes offf this way, it is a good sign the wheels are coming off the White House wagon, at least on this issue.

edutcher said...

I've always had trouble taking seriously anyone who expects me to believe his first name is, "Jazz" (particularly that his parents might have named him that), but I guess this is the ultimate revenge for, "We have to pass it to see what's in it".

Even the sheep are losing faith.

WV "rabdogs" What will be at our collective door very soon.

MadisonMan said...

I'm inheriting a lot of stock next week. I'd like this mess to be sorted out now.

Thank you. (It's all about me)

yashu said...

I like this take from Jonah Goldberg: Obama's Towering Inferno.

Fen said...

The plans I've seen are bunk. The spending cuts are in the out-years. The current Congress cannot prevent the next from rescinding those cuts.

We're fricken doomed.

Patrick said...

I will say Chuck Todd has been generally as tough on Obama as he was on GWB. Granted it's a very low bar, but he's among the best in the White House Press corp.

Carol_Herman said...

You're biggest problem is Boehner!

He's a con artist! He's been in congress long enough to know all the tricks. He voted FOR TARP! He voted for NO CHILD LEFT BEHIND.

And, when the republicans won last November he stepped forward to claim honors!

Boehner is too stupid! He's lazy. He likes passing out the big checks he gets from his golfing friends. And, he's not going to be giving up this good life ... without a fight.

The fighting is going on, now, in the House. Because no one wants to protect him from the INCOMING ... that's gonna happen ... when the average citizen figures out that a clone of Dubya is "leading the charge!"

Add to this that the chinless wonder in the senate also doesn't deserve respect.

What does it feel like out here?

We're ALL Abraham Lincoln NOW! Know what it's like to watch someon on the level of McLellan being in charge!

SOLUTION?

I've made up my mind to vote for Sarah Palin! Where the stupid party won't even drop her name into contention.

IF, WE'RE VERY, VERY LUCKY ... Sarah Palin will run as an Independent! She won't do business with these gangsters!

There's nobody else who can clean up this mess.

While Boehner? He's an ace con man. Who LOST his bet! But he's just gonna keep on spinning.

AJ Lynch said...

What Fen said.

When the 2012 cuts in both plans are less than $100 Billion, neither party gets it. The Beltway poobahs have been there way too long, they are in denial and they all have to go.

Christ, $100 Billion is only 3% of current spending!

bagoh20 said...

Althouse voted for The One and got "none of the above".

But it is working: we can get a new boat when this one sinks.

ricpic said...

We're ALL Abraham Lincoln NOW!

The hubris on this broad!

Roger J. said...

This Carney dude is the biggest piece of shit that has held the office, and that is saying something. Of course you need to be a big piece shit when you are flacking for an even bigger piece of shit.

You gotta wonder how press secretaries sleep at night. "For Wales, Richard? For Wales?"

madAsHell said...

"We will grill there bellys on the gates of HELL!!"

oh, yeah...that was Baghdad Bob.

I can see Carney quitting soon. He didn't have any conviction in his voice.

ricpic said...

I'm inheriting a lot of stock next week. I'd like this mess to be sorted out now.

Thank you. (It's all about me)


Nothing to be apologetic about. You're right to be concerned about your money. At bottom this whole mess we're in is based on the fact that it's easy and maybe even natural to fall into being cavalier with other peoples' money.

Phil 3:14 said...

IF WE'RE VERY, VERY LUCKY ... Sarah Palin will run as an Independent! She won't do business with these gangsters!

And now back to our regularly scheduled reality.

Phil 3:14 said...

As for BO's "non-plan" isn't this a redo of "healthcare reform"

send me anything and I'll call it debt reduction

Dust Bunny Queen said...

I'm inheriting a lot of stock next week. I'd like this mess to be sorted out now.

Thank you. (It's all about me)


And me.

I am sooooooo glad that I decided to retire from my financial advisory business THIS year instead of 2012. My night's sleep has been much better. My health is better. My stress levels are down. I rise each day with a positive attitude about MY life. The country....meh....not so much.

Nevertheless, in my now NOT professional opinion. A lack of a deal or raising the debt ceiling isn't going to be that big of a deal for the stock market. The real players will buy and sell as always to make a profit or generate a loss. The chumps will panic and sell, as always, at the wrong time.

Bank stocks and companies that rely on interest rates and government securities will take a big hit. If interest rates rise quickly and steeply, then the stock market will see a bigger sell off since investors will look to an interest play with safe companies. This won't happen immediately, however.

Until rates rise the stock markets, other than hard assets like gold which have reached a plateau, are the only game in town for appreciation and some sectors should see appreciation.

Contact your financial advisor and take a look at each position and liquidate those that will be hurt and keep those that still have legs. You shouldn't have any capital gains issues since you are inheriting. Get the hell out of bonds.

prairie wind said...

We're ALL Abraham Lincoln NOW! Know what it's like to watch someon on the level of McLellan being in charge!

Brilliant. That is exactly how I feel. The difference being that AL could act on his own to get rid of McClellan. We are stuck waiting for an election in another two years.

traditionalguy said...

Obama will not put into writing the final paragraph of his plan.

It reads that as soon as the debt ceiling is raised, he will introduce a trillion dollar government jobs program.

That means the government will hire everybody who votes the right way.

Somebody has to build 100,000 windmills after the Obama EPA destroys the existing coal powered plants.

Original Mike said...

The President's GW speech that Carney claims was a detailed plan is the same speech Elmendorf remarked "We [the CBO] don't score speeches".

David said...

Carney must think we are all exceedingly stupid.

He's just lying--no more or less.

Transparency--the hallmark of the Obama presidency.

David said...

"A lack of a deal or raising the debt ceiling isn't going to be that big of a deal for the stock market. The real players will buy and sell as always to make a profit or generate a loss. The chumps will panic and sell, as always, at the wrong time."

You may have it right, DBQ.

Everyone knows that the result, whether it comes before or after something that may be called a "default," is going to be a few cuts, some window dressing and misleading numbers, and a postponement of the tough decisions.

Whether that result comes before or after a "default" (which will not last long) may be immaterial.

We are a long way from actually dealing with this. The Republicans are going to have to accept some more taxes at some point. The Democrats are going to have to accept very large spending cuts because the gap can't be closed with more taxes.

We are not ready to do that yet--especially with Obama as Presidnet.

Original Mike said...

"Carney must think we are all exceedingly stupid."

Well, in his defense, he's not got much material to work with.

David said...

Further to DBQ's point:

Dow and S&P off 2% today.

Gold flat.

Dollar up strong against the Euro.

10 year Treasuries solid under 3% yield.

These are not numbers that reflect a world fearful that America will not pay its debts or be unable to borrow money. In fact it shows confidence that we will be able to borrow and pay in the near and intermediate future.

It does reflect a lot of concern about the economic future, both here and in Europe.

AJ Lynch said...

DBQ:

What do you think of Ford [auto] stock?

sorepaw said...

Jay Carney makes Ron Ziegler look like a model of integrity.

Lance said...

"The reason we do it this way is to create the optimum circumstances for a compromise."

How's that working out for ya?

SunnyJ said...

And Glenn Beck was scorched by the left for "scare tactics" when he said this is where we are going and buy gold?

Anyone remember Anthony Weiner going after Glenn for misleading the American Public?

This is why suicide is a bad idea...you would miss seeing all of this go down and come around. Being born with the curiosity to want to know what happens next is a life saver.

Palin looks better all the time. She calls both Repubs and Dems out on the sell out.

Apfelkuchen said...

I bet those on CNBC who called for the formation of a tea party back in 2008 are now shitting in their pants. Thanks Tea Party!

Carol_Herman said...

This is a "crisis" invention to play a game. BOTH SIDES!

Nobody has good character among any of the players! How bereft is that!

both sides are attached to pork.

And, it seems the biggest con artist isn't even obama!

There's some sort of revolt inside da' House, though. Either Boehner NEVER had all his repubilcans ... or something's happened where he's lost enough people ... who have to go back to the public in 2012. And, unlike Boehner ... who has a lock on his district in Ohio ... As tight as the lock Pelosi has in San Francisco ...

Has decided to "go to the wall" ... INCREASE the debt ceiling ... and, force the taxpayers to "cover" this charade.

It is a charade!

Where's the solution?

It's not going to come from Congress! (Where passing money around is the "custom.")

You wanted better?

Whom did you count on?

Everyone who won in November was of JUNIOR STATUS ... in a club with rules you can't control.

What if Boehner, however, has made a misstep?

One of the hardest things on earth is for good people to recognize the con artist. Until it's too late.

Dust Bunny Queen said...

DBQ:

What do you think of Ford [auto] stock?


I'm glad I bought it at 1.50 :-)

If we can get rid of this administration that is unfairly tilting against certain companies and favoring others [cough GM] and get the EPA release their stranglehold on the auto industry with their ridiculous CAFE standards we may have a chance.

Ford sells a lot of autos overseas and is increasing its sales, market presence and manufacturing out of the reach of the stifling US regulatory environment and the crushing burden of the UAW.

Dust Bunny Queen said...

What do you think of Ford [auto] stock?

I also think you don't take personal investment advice from people on the internet that you don't know and who don't know you either.

Just saying.

AJ Lynch said...

Thanks. And it is also possible to intuit and get a sense of another's smarts over the internet. You can take that as a compliment.

Dust Bunny Queen said...

Thank you. I would never purposely steer anyone wrong.

Now that I am no longer an investment advisor prohibited by law from expressing ANY opinions, I'm free to have opinions. I'm still not making personal recommendations to anyone because I firmly believe in the 'know your customer' rule.

So if I opine about economy or stocks, just don't take it as a recommendation. There are a lot of people out there who really do not know what they are doing and can cause great harm either accidentally or on purpose.

Sort of like the rape thread. Be careful....it is a jungle out there.

:-D

Phil 3:14 said...

And in this corner, this statement is definitely meant to calm the markets is this difficult time.

Phil 3:14 said...

Wasserman makes one miss Alan Grayson.

Ignorance is Bliss said...

I have some carbon credits I'd be happy to sell you. I guarantee that a year from now they'll be worth 100 times what they're worth today!

Hagar said...

I do not think the world is coming to an end this week or the next.

I think this is the beginning of a large change in the way this country operates, and it is going to take some time for that to happen.

A long time ago a professor told my class that if the then current trends continued, by the year 2000 Detroit automobiles would be 70 ft. long, 25 ft, wide, and 6" high, and the drivers' eyes would be scraping the pavement. He said that obviously this was not going to happen, fashions would change a long time before that, and we should be careful about believing in people making predictions based on charts and statistics.

So, things have indeed changed a lot in the automobile industry since then, and it has not been easy, especially for the Detroit automakers, but the nation has survived and Detroit probably will too, though it certainly is a very different world today than it was back then.

AJ Lynch said...

My first economics professor, in 1970, was predicting a cashless society. I don't think, for that time, it was an outrageous idea, but he was close to the mark.

Hagar said...

I should have said parts of Detroit will probably survive. Those who cannot adapt will go under or find themselves under different ownership.

Michael K said...

This Carney dude is the biggest piece of shit that has held the office, and that is saying something.

No, Scott McClellan retired that trophy but Carney might be in the running for the coolest liar.