Wow it is either an Obama miracle in not having done one thing in saving the economy or President George W. Bush saved the United States economy in a few months, because Bloomberg news is reporting by Rita Nazareth that Happy Days are here again.Imagine not days ago the stocks were plunging and by miracle in one whine from Warren Buffett and one "shazzam them stock markets are cheap and great buys from Obama" all the world is now rising in profits.
Imagine GE rose, Walmart rose and GM, you know the bankrupt company sure to go tits up by March 31, now says it doesn't need any money and is doing just fine.
Bank of America doesn't need any money in loans, futures are rising and it is all as if that little staged economic terror attack out of Europe on America just did not happen.
How can this all be?
I will inform people how it all is, because it is exactly as this blog informed everyone that this could be fixed by the robber barons in 6 months to which Warren Buffett confirmed and Charlie Rose almost fell off his chair.
This isn't "fixed" by any means, but for Bloomberg now to help out Birdie Obama in this way shows the type of scam this has been. Obama has screwed the pooch in his wag the crisis manipulation. The big financiers have seen the problems this is causing for them and will be causing for them, so they have now decided to put Birdie back in his cage and they are going to deal with this for awhile.
What people need to understand completely is Barack Obama just like FDR deepened the problem. HE HAS DONE NOTHING positive nor has Geithner plundering alone at Treasury. Blogs such as this one have created so much inflammation for the financiers in exposing what they were up to, that new measures have to be implemented.
It is amazing in Bloomberg that now sees only happy days ahead. No talk of banking problems, no talk of housing starts down, no talk of the rape of American's savings..........oh could it be that the financiers don't want Americans figuring out that they had half their wealth stolen from them and if they do they will demand it back?
Sure it is and that is what these cartels are terrified over, so Obama gets pinioned.
So who gets credit for this? It is George W. Bush period. He saved the world from a Great Depression after 9 11 in printing up a trillion dollars.
All would have been fine if the series of Soros economic attacks coming out of Europe in raising grain and oil prices to get the 1 trillion had not been engaged.
All would have been fine as reported here if the French socialists of the European cartel had not initiated this 9 11 attack on America twice in both times crashing the housing bubble and the derivatives in Europe by plundering wealth which set off the original waves to pay America back........and to install that British stooge into the White House in Birdie Obama.
The heat is on the cartels who pulled this from the Anglos and it appears there are sectors of robber barons in America who have now had enough. For this story to appears, means they have put a shot across the bow and forces are at work to gain retribution on Obama and his Europeans.
The Europeans are not about to just lay there and take this, but there are things moving now in this which move the next level in this for me to demand first, "I WANT MY TRILLION DOLLARS BACK!"
I put forth a solution for the cartels. They can keep the trillion dollars George Bush was forced into printing, but they bring it back and invest it into the United States, managing it this time for good jobs for Americans with no Mexican slave labor.
They in turn buy up Mexico to turn it into an economic zone to transform that socialist state and transform America back into a Republic, instead of this communist state Obama is implementing.
Oh and they take Obama, Biden and Clinton back too, preferably in court cases, along with Nancy Pelosi for that little economic terrorism she pulled in October in ruining the markets in her fit for Obama's election.
Toss in Warren Buffett and George Soros and the rest of you highly talented money changers can take a walk.
Secondly, you shut down the Obama pork package which just passed, because as Bloomberg reported all is well now without one cent of that money having been spent. America does not need that increased debt to China, so stop it.
Lastly, that is the deal or the information continues to spread, expose the bag men like Buffett for what they do and the populations of the world start hearing repeatedly that their money did not disappear, but is in the banks under rich barons names and all they have to do is go get it back.
You have all the information on Obama and every one of these financiers. You know people are so stupid that if you apologize and say you are "giving it back" through investment like Carnegie grants that all the children will go for the deal.
Because either I have been right all along and the entire press has been lying about this constriction, or, I have been right about this all along and Bloomberg is lying about the situation.
Doesn't matter as I want my trillion dollars back and I want the Obama pork trillion not spent as it is now unnecessary.
Exile this criminal Obama to his French estate where he can smoke cheap cigarettes and Michelle can stomp grapes with her humongous feet for Obama to serve as vinegar wine for his frog lappers.
Then it will be happy days are here again.
agtG 351
Bloomberg Busts Obama
(Posted below in case the barons delete the story as has been known to happen when stories get linked here exposing what they really mean.)
PS: This is no rally. The nation rapists have stopped depleting the market for the time being and Geithner is dumping in massive sums of US taxpayer money.
Oh, I want that money back too or I want those millions of shares distributed to their rightful American owners.
U.S. Stocks Post Biggest 3-Day Gain Since November as GE Rises
By Rita Nazareth
March 12 (Bloomberg) -- U.S. stocks posted the biggest three-day gain since November as General Electric Co. said losing the top credit rating at Standard & Poor’s won’t hurt business and Bank of America Corp. said it’s profitable.
GE added 13 percent after losing the AAA ranking that it held since 1956, while Bank of America Corp. surged 19 percent. Wal-Mart Stores Inc. rose 3.1 percent after the government said retail sales beat estimates, indicating the biggest part of the economy is stabilizing. General Motors Corp. jumped 17 percent after saying it won’t need U.S. aid this month. Pfizer Inc. rallied 9.6 percent following success in a drug trial.
The S&P 500 Index increased 4.1 percent to 750.74, giving it an 11 percent surge since March 9 that’s the steepest over three days since November. The Dow Jones Industrial Average climbed 239.66 points, or 3.5 percent, to 7,170.06. The Russell 2000 Index of small companies advanced 6.5 percent to 390.12.
“Those banks have been beaten down to almost nothing -- same goes for GE -- so any kind of good news would allow for a bounce,” said Bruce Bittles, the Nashville, Tennessee-based chief investment strategist at Robert W. Baird & Co., which manages $15 billion. “The rally is certainly welcomed, and it may very well be that we have made a low for the year.”
U.S. stocks have surged since the S&P 500 dipped to a 12- year low of 676.53 on March 9. Bank of America today joined two of its biggest competitors, JPMorgan and Citigroup Inc., in saying this week that it made money during the first two months of the year, rebounding from the worst year for financial institutions since the Great Depression.
No ‘Significant’ Harm
GE rose 13 percent to $9.57. The shares have surged 36 percent since March 6 in what may prove to be the biggest weekly gain since at least 1980. It “does not anticipate any significant operational or funding impacts” from the credit downgrade, according to a statement. The long-term debt rating was cut one level to AA+ with a “stable” outlook. GE is down 41 percent in 2009.
Bank of America rallied after Chief Executive Officer Kenneth Lewis said that the largest U.S. bank by assets was profitable during the first two months of the year and that it expects to be make money in 2009. Lewis also said that the bank isn’t likely to need more aid when the government completes its “stress test.”
“While some banks may need more public support in the future, I don’t believe we will,” Lewis said in the prepared text of a speech for the Boston Chief Executive Officers’ Club.
Bank of America rose 19 percent to $5.85. JPMorgan advanced 14 percent to $23.20. Citigroup climbed 8.4 percent to $1.67. The S&P 500 Financial Index jumped 10 percent, giving it a four- day surge of 33 percent.
Futures Rebound
Futures on the S&P 500, which had declined 1.3 percent, rebounded after the Commerce Department said at 8:30 a.m. New York time that retail sales decreased 0.1 percent in February, less than the 0.5 percent slump economists forecast. January’s gain was almost double the previous estimate. Excluding automobiles, February sales unexpectedly climbed 0.7 percent.
“It’s good to see anything in the economic front that beat expectations,” said David Heupel, who helps manage $60 billion at Thrivent Financial for Lutherans in Minneapolis. “Any news that is not bad right now is good for the market.”
Wal-Mart, the world’s biggest merchant, added 3.1 percent to $48.94 following the government’s retail sales report. Best Buy Co., the nation’s biggest electronics retailer, rose 4.1 percent to $29.50. Clothing seller Gap Inc. climbed 5.3 percent to $11.47.
Cost Cuts
GM rose 17 percent to $2.18. The largest U.S. automaker said it no longer needs the $2 billion of government aid it had requested by the end of March because of savings from cost cuts.
Pfizer Inc. led a gauge of 54 health-care companies in the S&P 500 to a 5.2 percent gain, the second-biggest advance among 10 industries. Its cancer drug Sutent showed “significant benefit” in patients with a form of pancreatic tumor, the company said.
Pfizer increased 9.6 percent to $14.02.
CV Therapeutics Inc. climbed 32 percent to $21.04, the highest price since April 2006. Gilead Sciences Inc. agreed to buy the company, which develops drugs for the treatment of cardiovascular diseases, for about $1.4 billion, or $20 a share.
Celgene Corp. surged 12 percent, the most since Oct. 28, to $47.16. Thomas Weisel Partners LLC touted the biotechnology company among its “best ideas,” citing sales growth of its top-selling blood cancer product Revlimid.
Money to Work
“We’ve actually been putting a little bit of money into the stock market from the cash reserves we had,” said Dayle Malone, who helps manage $1 billion at Old Second Wealth Management in Aurora, Illinois. The rally in U.S. stocks is either driven by investors closing bearish bets or “people taking a longer-term perspective, saying that ‘I know things look bleak but the risk is worth the reward.’”
Steel Dynamics plunged 15 percent to $7.25. The fifth- largest U.S.-based steelmaker by market value forecast a first- quarter loss because demand is weakening.
JPMorgan cut its earnings estimates for U.S. steelmakers and said Steel Dynamics, AK Steel Holding Corp., U.S. Steel Corp. and ArcelorMittal may not meet the financial requirements of its credit agreements should the price of steel fail to recover this year.
AK Steel lost 0.8 percent to $6.49. U.S. Steel dropped 1.2 percent to $19.10. ArcelorMittal slipped 0.1 percent to $20.27.
Microsoft Corp. fell 0.6 percent to $17.01 for the only decline in the 30-stock Dow average. The world’s largest software maker had its earnings estimates reduced at Morgan Stanley, which said the personal-computer market will remain “choppy” this year.
Earnings at companies in the S&P 500 are projected to drop 34 percent in the first quarter and 10 percent for the year, according to estimates compiled by Bloomberg.
“First-quarter earnings are expected to be very weak, and that’s what investors are looking at,” said Randy Bateman, who oversees $15 billion as chief investment officer of the asset management unit of Huntington Bancshares Inc. in Columbus, Ohio.
To contact the reporter on this story: Rita Nazareth in New York at nazareth@bloomberg.net.
Last Updated: March 12, 2009 16:28 EDT
