Following Palin speech, stock crash almost as big as one after Israeli dumbo speech

[Liberty Star]

Following Palin speech, stock market crash today was almost as big as the one that followed Israeli dumbo minister/Obama speech few weeks ago, what is going on? Free markets not likey McCain's gamble on hot lookin war monger Jesus freak?

Bear Returns to Wall St. As Major Indexes Plunge

By MICHAEL M. GRYNBAUM
Published: September 4, 2008

The Dow Jones industrial average plummeted 344.65 points on Thursday on a confluence of poor news about the economy, although investors could not pin the drop on any overriding reason.

http://www.nytimes.com/2008/09/05/b...bl&ex=1220673600&en=df8812acc5f44a95&ei=5087

Iraq War May Have Increased Energy Costs Worldwide by a Staggering $6 Trillion

By Geoffrey Lean, The Independent.
May 27, 2008.


The invasion of Iraq by Britain and the US has trebled the price of oil, according to a leading expert, costing the world a staggering $6 trillion in higher energy prices alone.

The oil economist Dr Mamdouh Salameh, who advises both the World Bank and the UN Industrial Development Organisation (Unido), told The Independent on Sunday that the price of oil would now be no more than $40 a barrel, less than a third of the record $135 a barrel reached last week, if it had not been for the Iraq war.

http://www.alternet.org/waroniraq/86515/



Oil price increases since 2003

http://en.wikipedia.org/wiki/Image:Oil_Prices_Medium_Term.jpg

http://en.wikipedia.org/wiki/Oil_price_increases_of_2004_and_2005


Oil price chronology

http://commons.wikimedia.org/wiki/Image:Oil_price_chronology.gif



Some other related recent news:


Quote:
Obama's AIPAC speech shocks Arabs

By SANA ABDALLAH (Middle East Times)
Published: June 05, 2008

AMMAN -- Palestinian and Arab hopes were dashed by a speech that U.S. Democratic presidential candidate Senator Barack Obama gave to a pro-Israeli lobby, in which he promised his full support to Israel and went further by adopting Israeli policy that sees Jerusalem as the "undivided capital" of the Jewish state.

Millions of Arabs were able to watch the address to the powerful American-Israeli Public Affairs Committee (AIPAC), which was aired live on some Arab television networks, serving as a "rude awakening" that the United States, regardless of its leadership, would continue to favor Israel at the expense of Palestinian and Arab rights.

Arab governments usually remain silent during U.S. elections, officially saying the polls are an internal American affair, but this year they are closely observing and privately taking sides according to foreign policy campaign pledges.

...

"I'll do everything in my power to prevent Iran from obtaining a nuclear weapon. Everything," Obama told the pro-Israel lobby at a conference in Washington, only hours after securing his party's nomination"

http://www.metimes.com/International/2008/06/05/obamas_aipac_speech_shocks_arabs/9021/


Oil surges $11 to record $138

Last Updated: June 6, 2008: 4:41 PM EDT

NEW YORK (CNNMoney.com) -- Oil prices shot up nearly $11 a barrel and settled Friday at a record $138.54 on geopolitical jitters, a dollar decline and a forecast that oil would hit $150 by July 4.

Concerns about instability in the Middle East flared after hawkish comments from Israeli Deputy Prime Minister, Shaul Mofaz, about possible attacks on Iran.

http://money.cnn.com/2008/06/06/news/economy/gas_prices/?postversion=2008060616


Quote:

08/06/2008
Mofaz's Iran comments too high a price for party politics

By Yossi Verter, Haaretz Correspondent

Since Kadima's leadership contest has not officially begun, and no date for the primary has even been set, it is hard not to be impressed with the activity of candidate Shaul Mofaz: In a single week, he moved to the Golan Heights, set up a new cabinet and bombed Iran - all with his mouth. The latter move single-handedly caused the sharpest one-day increase in history in the price of a barrel of crude: $11.

http://www.haaretz.com/hasen/spages/990942.html



Oil price rise sinks market
Dow plunges 394 points as anxious investors jettison stocks

From wire reports
June 7, 2008

NEW YORK - Stocks plunged yesterday, sending the Dow Jones industrials down nearly 400 points, after oil prices shot up by more than $11 a barrel and neared $140 a barrel - and wiped out investors' recent optimism about the economy in the process.

http://www.baltimoresun.com/business/investing/bal-bz.wallst07jun07,0,3873878.story

 

[Zippyjuan]

Yeah, it was her speach, not the higher than expected unemployment numbers which caused the market to fall. They like to ignore economic factors for buying and selling stocks.

 

[Liberty Star]

Markets are forward looking, "news" released by some department at 8:00 am is usully not a news for big market forces. When markets foresee good future, stocks move up even on bad news.
"Buy on the rumor, sell on the news" is another common saying among stock brokers. There is little economic "news" in the news these days that is really new. Dow's spectacular 345 points fall just hours after GOP Veep pick speech is bad omen at minimum.

 

[Zippyjuan]

The speach did not cause a 300+ point drop in the DOW.
Perhaps you can point me to things she said which would have caused this.
And any market reports which say that her talk influenced trading?

As I recall, you said that an Obama speach had the same effect. How much did it drop after McCain's speach- since he will have more influence on the economy than his VP will.

The market has been on a downward trend all week- until today. What caused it to fall on Tuesday and Wednesday (markets were closed Monday for the holiday)?