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Obama Leaves Country, Congress Leaves Town: Stocks Soar

Written by Gary North on November 20, 2012

The Dow Jones Industrial Average climbed 207 points yesterday.

The increase was based on a rumor that Obama/Pelosi/Reid are about work out a deal with Boehner/McConnell on taxes. There will not be a fiscal cliff.

Obama was out of the country. Congress is home for Thanksgiving. No one with any authority could conform this rumor or deny it. So, investors being what they are, they assumed the rumor is true. I mean, it has to be true. It ought to be true. It would be nice if it’s true. Buy!

The federal government is facing a $1 trillion fiscal deficit next year. Again. Buy!

Europe is in a recession. Buy!

Japan is in a recession. Buy!

Obama still insists there must be higher taxes on the rich. Buy!

Boehner still insists that Republicans in the House will not accept this. Buy!

Why? The rumor has to be true. It just has to.

Is the S&P 500 lower today than it was in March 2000? Yes. What does this tell American investors? “It’s time to buy stocks.”  Why? “Happy days are here again.”

Continue Reading on www.cnbc.com

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32 thoughts on “Obama Leaves Country, Congress Leaves Town: Stocks Soar

  1. Shirley Polk says:

    Guess you haven't been reading what the financial experts are saying! Anyway who's crying cause we are all too busy working to pay for that obamacare, those of us who have jobs that is. Soros is buying gold to trade in later for ??? It is predicted that inflation will begain soon after 2013 and another round of recession will kick in, worse than all the others have been.. I for one hope they are wrong but think back …they usually know what they are talkinga about. The middle class will be the worst hit because the wealthy have already taken care of their wealth. And the fiscal cliff isn't the joke you think it is. In fact I understand that the democrats want it to fall because they will have even more power. Now I am nothing but a 70 year old granny but I do know that when my household budget spends more than I take in …I am in trouble….Its the same with the Government. Best you be taking care of your business too or you will wake up next year without a penny to your name. Just saying!!!

  2. A lot of the upshove in the stock market is from programmed trading done by computers and, of course, constant manipulation by the Fed's Plunge Protection Team to keep the Dow up. The "too-big-to-fail" banks own huge blocks of these stocks, and if they ever tank, the banks will become instantly insolvent. This debt-based economic model has reached its end of life, pure and simple.

  3. Shirley, minions like Shane are paid to go out in the blogosphere and flog the official government story that "All is well, go see the new Bond flick", "this is the best economic system there is — honest". It's pure propaganda, probably paid for with your tax dollars.

  4. Oh yeah, Happy days are here again. IDIOTS.

  5. Shane, you can't be serious. You talk about "paying a little more in taxes", "closing the deficit", and "trimming the fat". You say "the economy isn't going to crash", but "is doing well". Shane, this situation is way, WAY past tweaking and fine-tuning. We're Wile E. Coyote, we've run off the cliff, and there's nothing between us and the ground a few thousand feet below but air. This being a cartoon, gravity hasn't kicked in yet. But it will. It will.

  6. Bob Marshall says:

    Here's one the IMF was saying to third world countries a few years back. Short term pains will bring long term gain. The majority of American citizens chose to give Obama the four more years he said he would need to complete his plans for America. It is too bad they didn't bother to read The ROOTS OF OBAMA'S RAGE, The Audacity of Hope, Dreams From My Father or THE MANCHURIAN PRESIDENT before voting. I don't blame Obama, it is the millions of ignorant voters who put him back in the White House. The 2008 and 2012 exit polls showed that Obama knew who, like any good Shepard, who his sheep were and that they would follow him again. Interestingly, the polls say it was the state of the economy that was the reason Obama was re-elected. Project Vote- Effort will focus on women, ethnic minorities, young adults and homosexuals. Astonishingly, this was put out by Project Vote in 2008 and again in 2012. Project Vote has been a huge success.

  7. ajetboatman says:

    obama can stay out of the country forever

  8. ajetboatman says:

    Another group you can put MUCH BLAME on for obama getting re elected is the damn MEDIA. They hid all the bad screw ups of obama so it looked like he could do no bad to the majority of people who cannot think for themselves.

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  10. Admiral America says:

    Citizens should have converged, and took back their government once the corporatists left town.

  11. DockyWocky says:


    A phony rumor that king Obama is out of the country, and stocks rebound!

    It does say a lot about the necessity of king Obama, though.

  12. barb patton says:

    buy!!? with what my dear barackie dear barackie dear barackie?? cause I have got a hole in my bucket dear barackie caused by corrosion by the government..

  13. good riddance to all the pukes

  14. Bless2live says:

    The federal goverment is facing a 1 trillion dollar fisical deficit? Really, I thought it was America facing the theft of the money! It was not there money, it did belong to the American citizens before they "shot craps" with it! Only a fool would think that our federal goverment is honest enough to balance a budget! Anyone can balance a budget, you just stop spending money and "shooting craps" with someone else's money! Our federal goverment has no honor when it comes to money.

  15. The only thing id recommend buying now is ammo.maybe a katadyne water filter.Long term investments would be a semiauto battle rifle such as an m1GARAND OR SEMI AUTO M-14. For food production id get some seeds.non g.m.o. heirloom.Sensible seed co. Natural News.com is a good place to start.Bakerscreek heirloom has an excellent selection of seeds.oh and along with those rifles learn to use them.

  16. Rose-Marie Noa says:

    Too bad they all done stay GONE!!!!

  17. Rose-Marie Noa says:

    Or anything else for that matter!!!

  18. He is over on one of the carpets with his head up his a– with his muslim thug's. telling all how much power he has now..

  19. I'm not paid to do this, I just love debunking you batshit crazy teatards.

  20. It's a shame that my replies keep getting deleted. Maybe there's some truth to what I'm saying.

  21. The increase was due to technical reasons, short term. Longer term is the FED pumping. But since the system is a house of cards, and not true captialism, it is bound to unravel somewhere, and especially true of the federal governments liabilities which exceed 200 trillion.

  22. How are you going to trim the fat out of the government, when the whole thing is a scam, a looting of of the system from top to bottom. Neither politicians who make a living off of unfunded liabilities, nor the special interests, nor the welfare crowd, will hear of any cuts. The government is so fat it’s cardiovascular.

  23. Jacob Steelman says:

    If you want to change the government then do not vote. Just as consumers do when a business fails to provide what consumers want – boycott the government. Send a message to the politicians and all the government workers stealing your money.

  24. And there you have it in a nut shell.. I wish they would leave to never return!

  25. what media? we have no media per se, just a propaganda arm for the pos.

  26. Rabelrouser says:

    Several thoughts: Start by pulling you money out of the banks, leaving only enough to cover your bills, keep the cash on hand and dont pay with ATM card. This will start to slow the currency / credit /debt system liquidity in "curculation". Which is only a electronic mark in a ledger anyway.
    Pay any taxes in cash: IRS, State, county, vehicle registration, etc; This again will slow their system.
    Lean that the financial system of the nation is a Debt / Credit /"currency, that has no intrinsic value; that is the only way you can begin to deny the beast its "food".

  27. Rabelrouser says:

    That should read: "Learn that the financial system of the nation……..

  28. I wish Obama would get lost – so far away that no one knows where he is. We don't need anymore of his lies or his tricks to ruin America!.

  29. What Kool aid are your drinking?. Buy stocks? That's as laughable as believing Obama is his own man.
    Why don't you listen to Gerald Celente of Trends Research. This Obama Puppet Administration is all about
    propping up his bosses. the mob kingpins who control the upper eschelon of Central banking, both
    foreign and domestic. Your advice about buying stocks when the insiders will permit the "street" to
    see another 14,000, then tank it like they deliberately did back in 2008. Whomever wrote this article
    has got to be kidding

  30. And sadly Reenie, the voter fraud " Zero votes for Romney in Philadelphia" and 99% Obama votes in Ohio, the coal state"
    is truly "shame on us". Check out Obama Deception on You Tube. This entire Ponzi Scheme is meant to bring America
    into Third World status, so that the global banking elite can formulate a world government.. all while giving it the spiffy
    Madison Avenue look. And the American Sheeple better wake up real soon.

  31. Watch Obama Deception for the real lowdown on who runs the American Govt. It isn't who
    you think it is, as attested by the voter fraid earlier this month

  32. Still… If we could rid ourselves PERMANENTLY of the Kenyan and the weasels in congress, that in itself might begin a REAL economic recovery–not this mythical, jobless lie, the democraps are trying to sell us.