Posted on 09/09/2004 11:32:34 AM PDT by Peach
September 09, 2004, 10:31 a.m. The Prosperity Killer Wall Street is repelled by John Kerry.
EDITOR'S NOTE: This article appears in the September 13, 2004, issue of National Review (the Kerry issue!).
It's hard to remember the last time Wall Street was as repelled by a presidential candidate as it is by John Kerry. Many stock analysts are convinced that the mere threat of a Kerry presidency has caused equity values to slump in the past two months. "No one wants to make major investments in the wake of a presidential candidate whose economic agenda would substantially raise taxes on investment and thus substantially raise the cost of capital in America," says investment specialist Robert Grusky of New Mountain Capital.
What Grusky is referring to here is the Kerry-Edwards risk factor. Efficient markets trade ahead of anticipated policy developments. A new analysis by Eric Engen, an economist at the American Enterprise Institute, finds that over the past several months there has been an inverse relationship between Kerry's poll numbers and the direction of the S&P 500: "The evidence suggests that when Sen. Kerry's political fortunes rise, the stock market tanks." What do investors find so repugnant about Kerry-Edwards? In the past, the stock market has not performed, on average, much differently in Democratic and Republican administrations. What seems to have the markets especially spooked about this Democratic ticket is that it has embraced what I call the three terrible T's: tariffs, taxes, and trial lawyers.
But of course.
Wall Street = Rich White Guys.
Kerry = Tax Tax Tax Rich White Guys.
Tax = not Rich.
Rich = Not Tax.
Wall Street?! Hell, I'm repelled by Kerry!
My financial advisor says the same thing about Kerry every time I meet with him.
Now he's partnered with a another Ultra-Liberal democrat Trial Lawyer who loves to sue & shakedown anyone who disagrees with their Politically Correct Agenda.
Between them both they have an agenda to strip America of its Soverignity, tax businesses even more and anyone earning $50k/year @ 70% and subjugate it to the oh-so-holy U.N.!!
Whew, that was a mouthfull but did I miss anything here?
No, I think you just about covered all of it! LOL
All of us are repelled by Kerry,,it is an equal opportunity repulsion which cuts across all sexes, races, religions.
"Wall Street is Repelled by Kerry
But of course.
Wall Street = Rich White Guys.
Kerry = Tax Tax Tax Rich White Guys.
Tax = not Rich.
Rich = Not Tax."
Excuse me, dumba$$, NO ONE benefits from higher taxes! If "rich" people pay more taxes they hire fewer jackasses who think that rich people should pay more taxes. Were you paying attention when Reagan was President? Did you learn ANYTHING?
Nothing they didn't also find repugnant about Karl Marx.
Hell, I'm a poor white guy, and I'm repelled by Kerry!
Perhaps you missed the point that I was making this response on Kerry's behalf.
"Perhaps you missed the point that I was making this response on Kerry's behalf."
I did. My humble apologies. Mea maxima culpa.
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