Obama destroys Wall Street

I don't think the stock market is much of an indicator of our economic health, but a lot of people's retirements are caught up in it, so it's still a big deal.

After years of growth (even as other indicators continued to be anemic), stocks took a dive late last week and much of this one. So far it's just a hiccup, but who knows?

Freepers come from all walks of life, and it's amusing to see the rich Freepers get all pragmatic, while the ones of more modest means roll out the expected apocalyptic tin foil.

demshateGod is sure Obama, and all Democrats, are looking forward to this: the end of America.

He’s been waiting for this moment his whole presidency. And Democrats are not mathematically challenged. They hate America and want to see if collapse.

VTenigma wonders if Obama is gonne press the 'make Dow go up' button:

Let the games begin! (the Hunger Games that is). Barky’s home from vacation now so he might just notice and have his minions intervene to slow the slide.

Extremely Extreme Extremist is sure this is comeuppance for the Fed being a thing:

The market has been propped up by easy money for years. Only Ron Paul and Governor Palin has talked about this. So when the cap hits the fan, there’ll be more calls for a bailout and Wall Street will be demonized.

DB mocks rhetoric from like 2009 as if it were delivered today.

Wasn’t this supposed to be the “summer of recovery”...

After all those false starts for the last 6 years...

Let me guess, it was “unexpected”...

This downturn reminds Conservative Gato of how much liberalism is to blame for all bad things, because it is everywhere:

I’m watching this play out on several sites today and yet it is bittersweet, watching today’s liberalism/statism failures play out. The sad thing, the whole country is going to have to suffer for their failures.

These statists have spent their lifetimes, especially those from the radical liberal 60’s movement, to ignore the Constitution and bring their type of big-government to the masses by infiltrating government, political parties, the media, the entertainment industry, Wall Street and eventually dominating many places of influence in this country. This cabal over the decades succeeded their statist big government dream by putting this country, and our future, in trillions and trillions of dollars in debt. That massive debt does not phase them but the reality of what they brought and that failure, will affect us all. Let no libtard tell you the Constitution is a living breathing document, to allow them to manipulate it as they wish, because we see the reality and failure of what happens when they are allowed to do so.

I know you libtards read here, you can’t help yourselves. I read today on local news comments sections, the libtards are already blaming Bush again. Bush had his problems but it took many decades of failed progressive big-government to get us to this point.

As a Christian, we are not supposed to hate people but the type of destruction you libtards helped bring to America, because of your ignorance, really makes it hard not to. You really need to wake up to the failures of today’s liberalism/statism and help us get back to the Constitution and limited government in order for us to have a chance or you can double-down on your stupid failed agenda and continue helping with your destruction of America.

That's the essence of Freep right there.

central_va is sure the Powers that Be are controling everything:

The admin is letting this happen to make it look like we have a gloBULL economy. When in if fact the PPT will step in real soon and shore everything up. Probably today.

Do you really think the invisible hand is going to let the shock market crash on "his" watch?

SkyPilot disagrees - we're all dooooomed!

It will be a “correction” as long as the media and traders think the term is still viable. We may even see stocks rally for a time. It has happened recently, where stocks soared - the rallies were based on lies, QE hot air, and greed. Not sure what is going to happen, but it looks like the collapse of China's economy is infusing reality into the situation, and the Central Bank lies are not working this time.

SkyPilot follows up with a conspiracy he's long feared:

What I have long feared and anticipated is that if things in the markets get so bad, and the crash is deep and global, Obama will move to seize all 401Ks, IRAs, TSPs, and all pension funds. It isn’t a fantasy, Google and read about the plans they have already put into motion.

EBH also buys into the retirement fund confiscation fears

Way back prior to ...months prior to the 2008 election, they were already making plans to protect your little IRA, 401K, etc.

That plan has been maturing now for nearly a decade and they now need a ‘crisis’ to implement it.

Freepers are mostly financially insulated retirees. But paranoia allows even them to have skin in the game!

VerySadAmerican wonders if a new evil will rise...

Wall Street will be demonized

And here comes Warren!

1Old Pro is sure the bad economy will sink Hillary, just like it did Obama in 2012.

A stock market collapse combined with Obama’s weak socialist economy, wage stagnation, no significant new private sector job formation, health care costs thru the roof -

I’d say Mickey Mouse could beat Hillary.

Luircin has nothing left but bitterness:

Whatever.

Thanks to the Obama economy, I don’t have any money to put in the stock market anyways.

SVTCobra03 replies to a financial Freeper with apocalyptic silliness:

Right now there are nine equities on my radar screen that I waiting for them to reach the price target i want. Unfortunately these have rebounded today, so the wait continues.

Just wait until next month. You can buy those stocks for pennies.

Hardens Hollow is called out on his 'go Galt' boast, and doesn't take it well:

If you’re truly going to “Go Galt” then you probably don’t need money anyway. But that doesn’t sound like what you’re doing. How do you plan to “live off of investments” if you have no faith in the underlying financial system? What are these investments?

My financial resources and how I am living a simple life closer to nature and God are none of your business.

“Going Galt” does not mean living off the land, BTW. Reread Atlas, if you have lots of free time. Your ignorance is showing.

jwalsh07 is sure this is all the oligarchy's machinations!

It’s called funnelling and it is how the oligrachy controls every facet of Americans lives. The fed funnels you to the stock market, the feds funnel you to Obamacare. 6 of one, half dozen of the other.