Why does the market keep tanking?
I thought we were at the bottom at the end of the election. And yet the market keeps dropping. Will the DOW go below 7000? Did Obama make another press appearance again? It seemed like every time the president say something, the market tanks. Did they say anything different this time? Market lost faith on the government. http://www.reuters.com/article/topNews/idUSTRE50K4DA20090223
Asked By: amalone - 2/23/2009
Best Answer - Chosen by Asker
Because consumer confidence is very low... More
Answered By: qncyguy21 - 2/23/2009
Additional Answers (9)
He spoke at 4pm today and that's why we were down 250.
Answered By: candeepal - 2/23/2009
Perception and confidence.... Everything else is window dressing.
Answered By: ggraves1724 - 2/23/2009
Obama is promising to raise taxes for the rich and corporations. How are the rich and corporations supposed to respond? Obama has become a complete moron. He needs to scrap that Harvard degree. He has no clue what he's doing. Blame is the only game he has left.
Answered By: Liberal AssKicker - 2/23/2009
Because the fundamentals of the US economy are NOT sound.
Answered By: End Fed - 2/23/2009
Answered By: mooned22 - 2/23/2009
I'm beginning to think that Obama is kryptonite to the markets. If he stays away and doesn't open his mouth, the market catches its breath. As soon as he mutters anything regarding the economy, it's like Lex Luthor putting that kryptonite necklace around Superman's neck.
Answered By: Nooner - 2/23/2009
The market keeps tanking because it has become evident after one month that Obama will seriously persue his socialist ideas.
Answered By: Track P - 2/23/2009
Well it tanked today because the Obama administration is taking steps toward Nationalizing our banks, which is a HUGE step towards socialism.
Answered By: Maelstroms Wake - 2/23/2009
The truth being, no one in the biz has any confidence in socialism. socialism fails every time it's been tried. Unless you like driving 1964 Chevy's
Answered By: zip40215 - 2/23/2009
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