Patterico's Pontifications

2/25/2009

Nostradamus the Venture Capitalist

Filed under: General — Patterico @ 9:42 pm



A venture capitalist before Obama’s speech last night: “Every time the guy speaks, the Dow starts falling.”

And whaddya know. Early in the day, Reuters reported:

U.S. stocks fell on Wednesday on disappointment U.S. President Barack Obama provided few new clues about how his administration would shore up the economy in a major speech before Congress.

The market briefly bounced back late in the day, and before the close of trading, was up 32 points. ennuipundit wryly observed:

President Obama today (as of 3:20) has created or saved an add’l 32 stock points

Heh.

And that prediction remained correct! True, at the close of trading the Dow was down 80 points. But if it hadn’t been for the 32 points Obama created or saved, it would have been 112.

So, you know, thank God for that speech.

14 Responses to “Nostradamus the Venture Capitalist”

  1. Next time he speaks, short the market.

    steve miller (a90638)

  2. How very racist of you to point this out. Never miss an opportunity to take advantage of a crisis, or to create one with your dirty little socialist policies.

    JD (277425)

  3. “We are all dirty little socialists now” – J. Maynard B. Keynes

    steve miller (a90638)

  4. LOL,now that’s fuzzy math

    mr. falcone (eed2b3)

  5. I did my small part of helping Obama save jobs: I was going to fire myself, but I changed my mind.

    tmac (f9e092)

  6. I’m outraged at all this talk of Obama being a “dirty little socialist”. He’s not dirty and he’s not little!

    Two out of three ain’t bad. . .

    Brother Bradley J. Fikes, C.O.R. (0ea407)

  7. I’ve started to wonder what happens when the Dow gets to zero. Can it go negative ? After all, we are only a month into his term and it’s down over 1000 points. That gives us six more months until it hits zero. It reminds me of the ending of “Trading Places.” I see Don Ameche screaming, “Turn those machines back on !”

    Oh well, I guess we’ll find out soon enough.

    Mike K (2cf494)

  8. I heard one news report saying that the stock market dropped because it didn’t feel Obama was doing enough to turn the economy around. Huh!

    The market drops because everything Obama promises is going to hurt business.

    Creating make-work is not stimulating the economy. It is taking money from one part of society and giving it to another.

    And funding for fighting sexually transmitted disease only helps Democrats such as Bill Clinton.

    Alta Bob (cd4e75)

  9. Yes, but the Dem’s spin will be that every time Bush spoke the market fall was worse.

    Kevin Murphy (805c5b)

  10. Of course, Kevin, the fact that such isn’t true won’t slow down the repetition of the spin by our trolls.

    SPQR (72771e)

  11. Off topic a bit, but I was watching CNN before Obama’s SOTU address, and they cited a poll that said that something like 55-60% of Americans expected the speech to make them feel better about the economy.

    Yes, we have actually come to the point where people are now polled about how they feel they will feel about the economy. I’m getting dizzy.

    Sean P (e57269)

  12. They can whine all they want that Jindal was God-awful, but it wasn’t his speech that drive the market into the soup. I’ll take a cold Jindal over a sexy Obama any day of the week – especially pay day…

    Shane (99fa4b)

  13. #7 – Mike K – meseems that The One is nostalgic for the Clinton Good Times in 1993 and 1994 and is trying to get back to those times, Dow Jones level and all …

    Alasdair (ecd506)

  14. To help resolve this problem, I have proposed the Stock Targeted Financial Unification Plan, otherwised known as the STFU Plan . Its the only way to save the stock market before it hits zero.

    Georg Felis (0e778c)


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