Ace of Spades HQ

November 07, 2012

Stock Market Crashes 312 Points
— Ace

Happy Days are here again.

I guess Obama is FDR after all.

I don't mean this in a good way.

Posted by: Ace at 12:28 PM | Comments (103)
Post contains 30 words, total size 1 kb.

1 I still have pudding on my scrotum...sob

Posted by: Dept. of Accuracy Dept. at November 07, 2012 12:30 PM (+I8Mq)

BUT, BUT THE GOVERNMENT WILL DO SOMETHING ABOUT IT???? RIGHT???

Posted by: Zac at November 07, 2012 12:30 PM (F6KtL)

3 Sturm Ruger (RGR) up almost 8 percent for the DAY.

Posted by: Joe Mama at November 07, 2012 12:30 PM (JJ+PT)

4 Wheeeeeeeeeeee

Posted by: Ghost of Lee Atwater at November 07, 2012 12:30 PM (JxMoP)

5 As bad as this sounds, I hope it crashes and burns.

Posted by: Zac at November 07, 2012 12:30 PM (F6KtL)

6 How unexpected!

Posted by: Gaff at November 07, 2012 12:30 PM (jPS2y)

7 Yes, but be thankful it wasn't 412, or 512, or 612. You guys are lucky, really.

Posted by: Barrack at November 07, 2012 12:30 PM (UvR6d)

8 Well. That was fast.

Posted by: Matt S. at November 07, 2012 12:30 PM (moRRg)

9 Cue Cramer telling everyone to buy buy buy.

Posted by: supercore23 at November 07, 2012 12:30 PM (bwV72)

10 My Smith and Wesson stock did awesome today (swhc)

Posted by: Chris at November 07, 2012 12:31 PM (aKmoL)

11 My parents sold off their stock this morning. I told them they should have done that yesterday.

Posted by: not the mama at November 07, 2012 12:31 PM (kzCIn)

12 That evil Romney! He lost, so now he's making the market crash!

Posted by: Lib Turds at November 07, 2012 12:31 PM (F6KtL)

13 Boned? Yep, we're still boned.

Posted by: Guy Mohawk at November 07, 2012 12:31 PM (PHb2k)

Well positive didn't last long.

FWIW, I called 250+ last night and again this morning 9 minutes before opening on twitter.

Missed it by 60-65 then.

Posted by: tsrblke at November 07, 2012 12:31 PM (GaqMa)

15 Sorry that should have read a measly 7 percent. Many investors would take that for a year.

I wonder why a gun manufacturer's stock would take off so much after an Obama win?

Posted by: Joe Mama at November 07, 2012 12:31 PM (JJ+PT)

16 Sold all of my mutual funds early today.

Posted by: Joe Mama at November 07, 2012 12:32 PM (JJ+PT)

17 I guess my 401k will be worth even less when the Feds finally nationalize it in order to give out more stuff to the Free Shit Army. Fantastic news.

Posted by: Jaws at November 07, 2012 12:33 PM (4I3Uo)

Posted by: Barrack at November 07, 2012 04:30 PM (UvR6d)

I predict this will be the thread-winner.

Posted by: Sandra Fluke's solid gold diaphragm at November 07, 2012 12:33 PM (9SwFX)

Obviously, when the stock market crashes 312 points in a single day, it's not optimal. But, let me be clear, there will be some bumps in the road.

Posted by: Hayabusa at November 07, 2012 12:33 PM (659DL)

20 Gonna finish what he started. Mebbe the first time telling the truth.

Posted by: eureka! at November 07, 2012 12:33 PM (UL+ny)

21 Glad I didnt jump back into the market when I though Romney was winning.

This is just so....unexpected.

Posted by: Stinky Weaselton at November 07, 2012 12:34 PM (6+z+l)

22 Can't be. Yahoo news was saying just yesterday that the stock market would go up no matter who won, because of the "clarity".

Posted by: Brendan at November 07, 2012 12:34 PM (2jQGY)

23 It's those intransigent House Republicans that got elected that caused this. Like that famously stubborn John Boehner, who just said they'll be putting revenue on the table now.

Posted by: Dave S. at November 07, 2012 12:34 PM (UvR6d)

24 "I guess Obama is FDR after all." Well then all we need to get us out of this rut we're in is a little World War. We've got nazis in Greece already.

Posted by: supercore23 at November 07, 2012 12:34 PM (bwV72)

25 Burn baby burn!!! Run this bus right off the cliff!!

Posted by: MmmmPie at November 07, 2012 12:34 PM (LZNnE)

26 I'm thinking of asking my neighbors with O'Blammo yard signs to leave them up. Easier to ID the enemy. Buying silver, maybe some gold. Oh... and ammo.

Posted by: Tobacco Road at November 07, 2012 12:34 PM (4Mv1T)

And so the next recession is getting ready to begin. We the People voted for this shit, and now we're gonna get what we asked for. Debt, recessions, taxes, and welfare. It was all worth it, just so we could keep our abortions and let them gays go a-marryin.

Posted by: IrishNewEnglander at November 07, 2012 12:34 PM (cUJP4)

28 In honor of Admiral James Stockdale: You must retain faith that you can prevail to greatness in the end, while retaining the discipline to confront the brutal facts of your current reality. The Stockdale Paradox is a prescription for our collective survival.

Posted by: Niedermeyer's Dead Horse at November 07, 2012 12:34 PM (piMMO)

29 Anyone watch Obama's speech? I only did cause I seeing how many people had pictures of him on hats, shirts, etc...that's fuckin creepy. This leftist worship of people is creepy. Almost as creepy as me stealing a look at that girl's ass who is still in high school. Almost.

Posted by: Zac at November 07, 2012 12:34 PM (F6KtL)

30 Still trying to give a damn about America. Can't.

Posted by: rockmom at November 07, 2012 12:34 PM (qe2/V)

Thanks Democrats, you took my hope, you took my change, and now you've taken thousands of dollars out of my accounts.

All in less than 24 hours.

Want one of my kids too?

Posted by: BurtTC at November 07, 2012 12:34 PM (TOk1P)

32 I'm thankful Obama eats fast food and may not last 4 years.

Posted by: Dr Spank at November 07, 2012 12:35 PM (4cRnj)

33 I figure we have had the recession, now we get the depression. We get the government we deserve. I will relish the leftards eating their own children.

Posted by: maddogg at November 07, 2012 12:35 PM (OlN4e)

34 That's 12932.73 DJIA points I've saved or created!

Posted by: Barack Obama at November 07, 2012 12:35 PM (5iuEW)

35 Booooooooosh!!!!!

Posted by: Cicero (@cicero) at November 07, 2012 12:35 PM (QKKT0)

36 We are gonna hit the fiscal cliff at a land speed record!

Posted by: teh Wind at November 07, 2012 12:36 PM (HBU8E)

37 O-Bots:
Bow down unto the one you serve;
you're gonna get what you deserve.

Posted by: Joe Mama at November 07, 2012 12:36 PM (JJ+PT)

38 Where is my free stufff. It has been at least 12 hours and I want MY FREE STUFF.

Posted by: Wall_E at November 07, 2012 12:36 PM (48wze)

39 Repeal of the 22nd Amendment, coming soon to an Oligarchy near you!

Posted by: Rusty Nail at November 07, 2012 12:36 PM (WWuYG)

40 Super Boned.

Posted by: that guy that always thinks we're boned now thinks SuperBoned at November 07, 2012 12:37 PM (QupBk)

41 This is not going away. I own a business. At lunch today everyone was trying to decide if they could sell their company before the end of the year, new taxes.

NO ONE was talking about expanding or hiring any fucking body.

Socialism is here brothers. Everyone is cashing out.

Sorry ace, downer here.

IT IS FUCKING OVER. WE ARE FUCKED.

Posted by: Billy Bob, the guy who drinks in SC at November 07, 2012 12:38 PM (wR+pz)

42 We are all "Mary Clogginstein's" Now !!!!!!!!!!!!!!!!!!!!!!!!!!!!

Posted by: Wall_E at November 07, 2012 12:38 PM (48wze)

43 Ah yes. A link to the HuffPo. Notice they tie it to Europe and the Fiscal cliff, not to O's re-election.

Posted by: Anabolic State at November 07, 2012 12:38 PM (2pNVr)

Hey, this is great news! Less stock wealth for those rich, white people!

Posted by: Liberal Economic Logic at November 07, 2012 12:38 PM (F6KtL)

45 I called this one.

Actually, I requested it.

Posted by: Jerry Wright at November 07, 2012 12:38 PM (JJ+PT)

46 Smith & Wesson Holding Corporation (SWHC) +9.62%

Posted by: toby928© for TB at November 07, 2012 12:38 PM (QupBk)

47 Want one of my kids too?

Now that you mention it...

Posted by: Harry Reid at November 07, 2012 12:38 PM (5iuEW)

48 So, exactly how does one say someone is FDR in a good way?

Posted by: CharlieSays at November 07, 2012 12:38 PM (2aJHq)

Hey,

I got really drunk last night, what did I miss?

Posted by: jake in ID at November 07, 2012 12:39 PM (W6iIX)

50 #37 - wow, yeah, the lyrics to that song work pretty well. Switch God Money for Free Money and you've got something there.

Posted by: Dave S. at November 07, 2012 12:39 PM (UvR6d)

51 Well, that positive thread lasted five more minutes than I expected.

Posted by: Gerry at November 07, 2012 12:39 PM (jQm+J)

Well, since unemployment is at 8 % or so, the companies didn't need that stock. It was just there, not being used.

Posted by: Liberal Economic Logic at November 07, 2012 12:39 PM (F6KtL)

53 new thread up

Posted by: Niedermeyer's Dead Horse at November 07, 2012 12:40 PM (piMMO)

54 How did we get out of the 1930's Depression....A World War. Does History repeat itself ?????????????

Posted by: Wall_E at November 07, 2012 12:40 PM (48wze)

55 Good, it needs to crash hard. Best any of us can hope for is the financial cliff happen sooner than later, say when Obama is still president. We're all going to have to endure pain.

Posted by: ATLDiver at November 07, 2012 12:40 PM (rCsM0)

Look on the bright side, we might finally get to know exactly how many people are out of work.

Oops! Did we say 7.9? We meant 9.7!

Our bad.

Posted by: BurtTC at November 07, 2012 12:40 PM (TOk1P)

57 401ks are next, earners.

Posted by: ejo at November 07, 2012 12:41 PM (GXvSO)

58 50 Hey,
I got really drunk last night, what did I miss?

??

Posted by: jake in ID at November 07, 2012 04:39 PM (W6iIX)

Me too. I think Barney fucked you in the ass. Can you fart?

Posted by: Billy Bob, the guy who drinks in SC at November 07, 2012 12:41 PM (wR+pz)

Let's start building those 're-education camps' for the non-believers. There's some shovel ready jobs

Posted by: Big Brother at November 07, 2012 12:41 PM (F6KtL)

60 http:// inflation.us /charts.html Remove spaces. Scroll down to the 4th chart, the inflation-adjusted Dow. By that measure, we're equal to where we were in 1963, four years before I was born. Ben Bernanke may yet be able to get us to 20k, but it won't mean a damn thing. Because...math.

Posted by: jakeman at November 07, 2012 12:42 PM (96M6e)

Earlier I talked to my husband's cousin in Canada and she said they have been warned that the economy will be in deep shit in February. Then she talked about other things and I forgot to ask where the warning came from.

Posted by: Decaf at November 07, 2012 12:42 PM (+Bpfx)

62 Just reading between the lines on the "free stuff" - isn't that going to be free stuff for 3rd world countries (other than our own) in the 2nd term? Barry doesn't need to give the American entitlement class any more free stuff 'cause he doesn't need their votes any more.

Posted by: JustARegularAmerican at November 07, 2012 12:42 PM (zAD45)

63 How could you compare anyone to FDR in a good way?

Posted by: Edward Cropper at November 07, 2012 12:42 PM (Lt3vg)

It's the profits and earnings ratios! They're broken! I think Mitt did it!

Posted by: Warden at November 07, 2012 12:43 PM (HzhBE)

So just look at the sh#t pile Barky has now.

the USA is broke

Europe is broke

China is broke and lying about it

Japan is broke

inflation is comming

islam is menacing the western world and agressive

college tuition bubble has not popped

I'm sure I might have missed something

Posted by: jake in ID at November 07, 2012 12:43 PM (W6iIX)

66 Oh, don't worry about that. It's just those evil rich people pitchin' a fit that an uppity black man won again. The President will dash off an Executive Order to nationalize the stock market and everything will be fine.

Posted by: GalosGann at November 07, 2012 12:43 PM (T3KlW)

67 I'm thankful Obama eats fast food and may not last 4 years. Posted by: Dr Spank at November 07, 2012 04:35 PM (4cRnj)

I am thankful that he does drugs and probably is HIV positive from lifestyle "choices".

Posted by: Sherry McEvil, Wily Wrepublican Wench at November 07, 2012 12:46 PM (kXoT0)

68 "401ks are next, earners." I fear you are correct. People with savings are the new hoarders and wreckers.

Posted by: GalosGann at November 07, 2012 12:47 PM (T3KlW)

We are fucked. There is no way around it.

Say goodbye to prosperity .We will now look for ways to pay for Obama's giving away all our money to fake green energy "start up" donors.

Posted by: Fresh at November 07, 2012 12:47 PM (O7ksG)

The President will dash off an Executive Order to nationalize the stock market and everything will be fine.

I'm sure that's on his 'to do' list.

Posted by: Decaf at November 07, 2012 12:48 PM (+Bpfx)

71 Wait! There is a class of prosperous "Americans", actually. Guess which ones I speak of?!

But when the economic machine is broken, when we can no longer borrow, and when printing money makes no difference because it's not worth anything anyway, even those "ruling class" who steal and pocket our dollars will suffer.

But, that's a few years away, so why worry?

Posted by: JustARegularAmerican at November 07, 2012 12:50 PM (zAD45)

Of course it is down (312). That's Chicago's downtown area code.

Oh well. Happy Days!

Posted by: Virginia SoCon at November 07, 2012 12:51 PM (+/C3g)

73 Chocolate rations are up though.

Posted by: Ministry of Truth at November 07, 2012 12:51 PM (UvR6d)

74 The Dow lost credibility as any sort of indicator years ago. About the time Wall St got in bed with the Dems. Daily fluctuations mean nothing. In fact, when it goes up sharply is when I get most worried. You should read some financial blogs to understand why.

Posted by: hannitys_hybrid at November 07, 2012 12:52 PM (zpqa2)

75 I heard a quaint comment once from one of the powerline guys that 401k's won't be touched because lots of lawyers have big 401ks and support Obama. He wouldn't dream of harming his political support with this group, would he?

Posted by: ejo at November 07, 2012 12:53 PM (GXvSO)

76 Part of the downturn is because Fitch threatened to downgrade the US credit rating. Other factors are in play, as well, including a number of margin calls, but yeah, an Oabma win didn't help matters a bit.

Posted by: Warren Bonesteel at November 07, 2012 12:55 PM (WwR1j)

77 So, how did the euroweenie markets do?

Posted by: Walkers! at November 07, 2012 12:55 PM (C4dFv)

So California passes a large tax increase on people earning $533,000 or more. How many limosine liberals & Hollywood leftists do you think are going to change their residency now to avoid this massive tax hike?

Posted by: Cheri at November 07, 2012 12:56 PM (G+Wff)

79 That link went to Huffington Post! I just gave them a click, by mistake. Boo hiss. I notice that the Huffington Post framed the story as "with the election over, the investors are now focusing on the coming fiscal cliff". Give me a break, investors were just distracted by the election and now they are paying attention again? No. The stock market plummeted because investors expect Barack Obama's second term to be a disaster. If Romney had won, we would be looking at a bounce rather than a crash today.

Posted by: mr_jack at November 07, 2012 12:56 PM (TMG3G)

80 The Dow goes up when Bernanke decides it needs a boost. That is the only reason nowadays.

Posted by: hannitys_hybrid at November 07, 2012 12:58 PM (zpqa2)

I wouldn't read too much into today's price drop. Yes, this is almost guaranteed to be people reacting to the election (despite what MSNBC had plastered at the top of their article regarding it...), but it's too early to say how widespread it is. It's possible that it's just a handful of people reacting to the election by dumping everything.

On the other hand, it's entirely possible that this will continue on for more than a day or two. And if that happens, then it is indeed what most - if not all - of us suspect, i.e. that the market is making a No Confidence vote against the president re-elect.

Or in other words, it's still probably a bit too early to say just how bad this is. We'll need a couple more days to be sure.

Posted by: junior at November 07, 2012 12:59 PM (UWFpX)

82 Let it burn.

Posted by: d_fitz at November 07, 2012 12:59 PM (vu3g7)

83 Also, investors use the Dow to tell Bernanke they think it needs a boost. See how it works?

Posted by: hannitys_hybrid at November 07, 2012 01:00 PM (zpqa2)

84 If the Dow keeps going down, watch for QE rumblings from the Fed to come out in the ensuing days or weeks. Like clockwork.

Posted by: hannitys_hybrid at November 07, 2012 01:01 PM (zpqa2)

85 The "market" is a dumping ground for the worthless dollars printed by Bernanke. It's why it goes up even when the economy is in the sewer.

Posted by: ejo at November 07, 2012 01:02 PM (GXvSO)

86 @ 86

Yes - that's exactly the way it works now.

Posted by: hannitys_hybrid at November 07, 2012 01:04 PM (zpqa2)

87 My only consolation is that the idiots who voted for him will starve to death faster than I will.

Posted by: PJ at November 07, 2012 01:04 PM (DQHjw)

Well the good news is that suddenly compromise, bi-partisianship is all the new rage now!!! Harry Reid and his ilk are now advising Republicans on how they need to act.

I have liberals asses in my own family that are gloating and telling me how wonderful this is and that everything is going to be okay.

I refuse to concede shit. I will mock, deride, laugh in their faces and tell them to pound sand anytime they bring this up. Just the way I roll. I've changed my tax status, cashed out, and will hoarde money under my mattress.

Posted by: Cheri at November 07, 2012 01:07 PM (G+Wff)

89 My only consolation is that the idiots who voted for him will starve to death faster than I will.

Posted by: PJ

A ray of sunshine

Posted by: Cheri at November 07, 2012 01:08 PM (G+Wff)

90 89 Well the good news is that suddenly compromise, bi-partisianship is all the new rage now!!! Harry Reid and his ilk are now advising Republicans on how they need to act.
I have liberals asses in my own family that are gloating and telling me how wonderful this is and that everything is going to be okay.
I refuse to concede shit. I will mock, deride, laugh in their faces and tell them to pound sand anytime they bring this up. Just the way I roll. I've changed my tax status, cashed out, and will hoarde money under my mattress.

Personally, I look forward to Herr Obama:
1. fixing the national debt problem
2. getting gas prices lower
3. making energy available for everyone
4. bringing peace to the middle east
5. solving all environmental problems
6. increasing the income of middle class americans
7. increasing the standard of living for all americans
8. keeping food prices low
9. keeping taxes low
10.creating an environment where the ideas of the opposition are welcome.

HAHAHAHA!

This will never happen. But... if anyone asks me, I will say I'm looking forward to President for Life Hussein solving all these problems.

In less than four years.

Posted by: shibumi at November 07, 2012 01:14 PM (z63Tr)

91 Shibumi @ 89 - Yep well said!

Posted by: Cheri at November 07, 2012 01:18 PM (G+Wff)

Barry likes the adulation and the bennies of being POTUS - however I don't think he actually likes any of the work of being POTUS.

I guess that we can hope that he plays more rounds of golf, embarks on more lavish vacations, and has fabulous WH parties which distracts him from completing all of the destruction that he wants to do.

Posted by: Cheri at November 07, 2012 01:21 PM (G+Wff)

93 He's managed to play a lot of golf while doing a lot of damage. He's got plenty of acolytes that are as bad or worse than him.

Posted by: ejo at November 07, 2012 01:23 PM (GXvSO)

94 The market went down for one reason and one reason only - it's RACIST!

Posted by: TheQuietMan at November 07, 2012 01:24 PM (1Jaio)

95 I'm kind of surprised. It seemed to me that Wall Street was more clueless about the implications of this sort of thing. Liberals that believe the liberal crap. I would have thought that it would go up because of "certainty". I'm sure they're great at business, but they're usually like lemmings charging off the cliff.

Posted by: Optimizer at November 07, 2012 01:30 PM (Mxt9o)

96 Go Sturm Ruger!

Posted by: The Lightworker at November 07, 2012 01:30 PM (BuRsu)

"89 Well the good news is that suddenly compromise, bi-partisianship is all the new rage now!!! Harry Reid and his ilk are now advising Republicans on how they need to act.
I have liberals asses in my own family that are gloating and telling me how wonderful this is and that everything is going to be okay.
I refuse to concede shit. I will mock, deride, laugh in their faces ..."

The denial of reality leaves me speechless. I guess I didn't "get it" at first, but I should have. When they say "Bipartisan" they mean it in the Obama sense, where it's defined as "going along with him on everything he wants".

Electricity, gasoline, and food skyrocketing is just the start. Obama is essentially a socialist dictator now, and there are strong hints that the "fix" is already in.

Posted by: Optimizer at November 07, 2012 01:36 PM (Mxt9o)

"My only consolation is that the idiots who voted for him will starve to death faster than I will. " Posted by: PJ

Oh, we'll get consolation before it reaches that point. In a way, we're better off than the Dems, because we're battening down the hatches, knowing it will get worse, while they're all dopey smiles, thinking the economy is coming back. So when a Dem starts bitching about the cost of gas/food/electricity/their soon-to-be crappy healthcare/not having a job, just smile at them and say "Elections have consequences."

Posted by: Donna V. at November 07, 2012 01:38 PM (7OHl8)

99 S&P 500 breached resistance. With the fiscal cliff and tax hikes in January, I expect it to sell off more between now and year's end.

Posted by: Crashpanic at November 07, 2012 01:54 PM (zU+ii)

100

The people who are productive and successful should pull all of their investments out of Wall Street and let it tank. Tell the 60 million who voted for Obama to support the country and invest their money in the market.

A country that elects a shithead like him TWICE isn't worth saving.

Yeah, I said it. Isn't. Worth. Saving.

Posted by: Adirondack Patriot at November 07, 2012 02:13 PM (70Mth)

101 Obama's Revenge on America.

Posted by: dsfdsfs at November 07, 2012 02:26 PM (g6lWQ)

102 You'd think they'd be saying,'Thank you.'

Posted by: Barack the Unifier at November 07, 2012 03:00 PM (1/eH7)

103 My hedge funds did quite well. Thanks, Barack.

Posted by: George Soros at November 07, 2012 03:01 PM (1/eH7)

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