What is your educated reasoning for the Dow Jones falling below 10 thousand today:job #s,Gulf spill or golfing?
Filed in Golf Talk on Sep.08, 2011
http://donstorch.com/2010/05/26/obama-plays-golf-shoots-hoops-fund-raises-while-a-disaster-evolves-in-the-gulf/
» Obama Plays Golf, Shoots Hoops & Fund Raises While A Disaster Evolves In The Gulf DonStorch.com: Columns/Opinion/Satire
September 8th, 2011 at 11:39 pm
Maybe the jobs report that came out. There are tons of reports that are analyzed daily in order to determine the value and cost of various financial instruments, it is rarely one report or event that afects the entire market. The gulf oil spill is on top of everyone’s mind, but people are already calculating that into their models.
As for golf, while it may be in moderately poor taste to play golf at a time like this, I don’t fault him for it. Bush gave up playing golf after getting heat for playing during Operation Iraqi freedom. If Obama had the good mind to play golf with some veterans, I think that would be a feather in his cap.
September 9th, 2011 at 12:20 am
Most of that decline comes in reaction to a 3.3% drop in oil prices to $72.15 per barrel this morning. Oil MAY have fallen in part because of fairly promising news regarding BP’s progress on addressing the Gulf spill… It has NOTHING to do with the President playing golf. Actual investors couldn’t give a rip when a President is playing golf or hoops.
September 9th, 2011 at 12:53 am
Obama has been reduced to railing against British Petroleum and vowing that the oil company someday will pay.
There are three problems with this approach.
1st: “Railing” is never the image that a President wants to project.
2nd: As the oil begins to wash ashore in Alabama and Florida, and the spill goes on and on–what is this, day 47?…something like that!?!
The inadequacy of money damages years down the road is painfully obvious.
3rd: Obama risks looking impotent, as he and his aides can’t keep their story straight: is BP just a puppet that has been taking orders from the feds from the first day of the spill, or are the federal agencies so constrained as to be virtually powerless to do anything about the crisis?
September 9th, 2011 at 1:11 am
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