You'd have a hard time convincing me.
Posted on 11/21/2008 6:47:19 AM PST by rightinthemiddle
OK, we've had a bear market even if you count only the losses since Barack Obama was elected.What, don't investors know the MegaStimulus Package is on the way? Maybe instead of a guesstimated $500 billion, it should $1 trillion or maybe even $2 trillion (which I actually heard suggested on CNBC). Or maybe we should do what we did the last time we faced a severe economic downturn ...
Story has been submitted to digg - upcoming stories in World News.
But I sold on every rally of the stocks I had since McCain was nominated. I KNEW that he would go along with a capital gains increase as well as an increase to the income tax.
if mccain won he would
1) also regulate the crap out of the economy
2) bring in corporate executives and bother them until they do what he tells them to do
3) wouldn’t have what it takes to defend the bush tax cuts that he voted against
4) wouldn’t have what it takes to promote any economic measure
But he would have the trust of our troops and that would be enough for me
Treasuries held by other countries will be dumped. Which will make other countries more valuable to own.
“Gone to ground... debt free... moldy cash”
IMHO, the best possible position to be in right now and for the foreseeable future.
With the maybe, possible exception of tax-free munis.
The critical issue here is whether the GOP can offer some sound policies and critique.
Right now, most of the GOP delegation, esp. in the Senate, are not what I would call brilliant financial minds.
The GOP has shown no leadership and even less critical thinking during the last three months.
If we want to hope for the end of Obama’s administration in 2012, we need to offer a better alternative than the GOP did in (for example) 1936. We had a slew of candidates, a lot of opposition to The New Deal policies, and a complete slaughter at the polls.
When the nation in is tough economic times, people want answers. Reagan showed that someone can win against an incumbent when the electorate is PO’ed with the economic situation in 1980. The differences between 1936 and 1980 show that you have to have someone with a coherent and well-articulated plan of what he’s going to do about the economy.
We cannot afford another McCain or Landon - both were political moderates with no clear economic plan. Sure, both have records of cutting taxes and spending, but that’s not a plan to recover the economy.
The US house controls the purse strings. We hire them. Enough blame fore every one, don’t crowd the line. Everyone in DC gets a heaping serving though.
I didn’t hear too many complaining when the equity in their houses went through the roof.
I just wish I was not so stupid to see the bubble and jump out when it has happened twice already in my investing history.
Here's a hint: (1) Eliminate the capital gains tax. (2) Eliminate corporate taxes. (3) Eliminate the inheritance tax. (4) Secure the ownership of private property in the U.S. (5) Watch foreign and domestic capital FLOW into the U.S. economy, and watch the economy SOAR!
Message to Democrats: To paraphrase Ronald Reagan very loosely, you can take all the credit. Just do it.
Americans should own American Gov’t debt.
At least we owe ourselves, and our net worth is not negatively effected.
If people had any certainty about the future, or even any optimism, you would expect the market to be moving up.
Really? Only by the Democrats?
They own this meltdown.
“Dow Down 22 Percent Since Election Day”
And the DOW fell about 30% from January 2, 2008 through November 3rd, and 20% from September 1, 2008 through November 3rd. So what does that tell us?
The old adage ‘Buy on the Rumor, Sell on the news’ applied perfectly in the run-up to the election.
Whenever I saw a post saying to take heart McCain/Palin will win (for whatever reason) the market shot up. But when the News came in for Obama, it tanked.
The markets are fickle predictors of the future, noting lessons of the past. I think the CarterII years are ahead.
I hate Keynesian spending.
You must be kidding!
You'd have a hard time convincing me. I will grant that Dubya has a part in the situation. He didn't do anything to stop the reckless lending habits forced on the banking industry by Carter, Clinton, and Obama's friends at ACORN. In fact, he may have embraced it as though he was going to garner the "deadbeat" vote that the dems generally own. And, of course, we know the effects that lending to non-creditworthy borrowers has had on the mortgage and banking industries.
But let's look at the pattern that the DOW has taken these last few months. It took its big plunge when the bailout was announced. Why? Perhaps because socialism was being introduced in a grand way. Perhaps because there weren't any funds to support the bailout. Perhaps because the taxpayers were going to be carrying this enormous debt until death. At any rate, that was the first big piece of the plunge. Perhaps wall street saw McCain's numbers drop dramatically when he mishandled the situation.
At any rate, once that drop occurred, it bounced around between roughly 8500 and 9500, with movements fairly well correlated to McCain's polling numbers. McCain up - DOW up. McCain down, DOW down. It rallied near the election because the poll numbers were tightening. Those in the market sensed that there was a chance that blatent, over-reaching socialism was not in our future. But, alas, McCain did not win. And the market is beginning to reflect the reality of thousands of miniature reenactments of "Atlas Shrugged" are taking place around the country.
They own about 75% of it. There's more than a handful of Republicans that seem complacent on this issue. Enough, I would guess, then the party seemed reluctant to make it an issue in this year's election.
If the markets were up since election day, would the MSM give the credit to Obama?
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
Is the pope a catholic?
Do bears bless the forest with fecal matter?
Is an obese swine heavy?
Did God make little green apples?
Is Obama a liar?
Repeat after me;
If I see a child with the sniffles,
If I see a poor person,
If I see unusual weather.
I will start whining about,”The failed policies of the Obama administration”.
Remember he promised to defeat poverty, disease and climate change among other things.
Ditto
Amongst other things, the financial markets hate incertainty. Obama voting absent is causing much of the downturn.
People are forgetting which is the dog and which is the tail, and it’s politics that reacts to markets and not the other way around.
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What are you saying? Politics react to markets and markets also react to politics, it is like a tennis match, it isn’t just one way.
You'd have a hard time convincing me.
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