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October 19, 2012

Markets Crash on Rumors That Obama Might Be Reelected

Just to let you know that headline is what is called in the media world "Something I just completely made up." It's not even an interpretation or a rephrasing of any report-- I just made it up, to make you laugh.

But, seriously, the markets can't like Obama. And I think it's absurd that this particular source-- USAToday -- tries to blame the crash on the anniversary of the 87 crash, instead of flatline earnings in a flatline economy.

Investors took stocks down hard Friday after a string of disappointing earnings from industry stalwarts -- McDonald's, General Electric, Microsoft, Google, to name a few -- served as a reminder of the economy's struggles.

Analysts now expect S&P 500 earnings growth of 0.04%, essentially flat and the lowest growth rate since the third quarter of 2009.

Some kind of recovery we've got here. Let's check: Present day indices show almost no recovery whatsoever. Forward-looking indices show almost no anticipated recovery.

posted by Ace at 04:37 PM

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And I think it's absurd that this particular source-- USAToday -- tries to blame the crash on the anniversary of the 87 crash, instead of flatline earnings in a flatline economy. Investors took stocks down hard Friday after a string of disappointing earnings from industry stalwarts -- McDonald's, General Electric, Microsoft, Google, to name a few -- served as a reminder of the economy's struggles. Analysts now expect S&P 500 earnings growth of 0.04%, essentially flat and the lowest growth rate since the third quarter of 2009. Some kind of recovery we've got here. Let's check: Present day indices show almost no recovery whatsoever. Forward-looking indices show almost no anticipated recovery. posted by Ace at 04:37 PM \| Access Comments <script language="javascript" src="http://adserver.adtechus.com/addyn/3.0/5235/1131537/0/170/ADTECH;loc=700;cookie=info;target=_blank;key=key1+key2+key3+key4;grp=[group]"></script><noscript><a href="http://adserver.adtechus.com/adlink/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" target="_blank"><img src="http://adserver.adtechus.com/adserv/3.0/5235/1131537/0/170/ADTECH;loc=300;key=key1+key2+key3+key4;grp=[group]" border="0" width="300" height="250"></a></noscript>	Recent Comments British Steel: "Grinder. ----------- Looking for meat.... ..." illiniwek: "Fever now has three pretty good (white girl) start ..." Jukin the Deplorable a Clear and Present Danger: "Make me ashamed of being an all CIF swimmer in the ..." Piper: "111 What was that trannies name that we traded the ..." Ben Had: "runner, 20 new communities recognized in Judea a ..." 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