Posted on 11/21/2008 6:13:07 AM PST by upchuck
The stock market was down another 400 points or so yesterday. People are wondering where in the world this will end. Retirement funds are being devastated. People are losing jobs. The picture certainly isn't rosy right now, and nobody can really explain why. The media, on the other hand, is certain that there is one recent event that is having no effect whatsoever on this economic slide; and that would be the election of Barack Obama.
OK ... why don't you try to put on an investor hat for a moment here. Let's say you're considering getting back in the stock market. You know that some stocks out there are at historic lows, and they're bound to bounce back ... right? So why don't you just take some money out of your savings or out from under your mattress and plow it back into the market?
Let's see if we can find any reasons why you might hesitate.
We have a president-elect who ...
So .. think about it. We've only scratched the surface here. We could also talk about expanding the family leave act and many other little federal anti-business goodies. Invest now? Why? Doesn't it make more sense to wait until you get a true measure of our new anti-capitalist president?... has promised to raise capital gains taxes, perhaps even double them. So this guy is just waiting for you to jump into the stock market and make some money so he can seize a huge portion of it. Why jump now? Obama has been asked if he plans to go forward with his capital gains tax increase, but he's not saying. Just hold off on your investments for a while until he tips his hand. If he goes the tax increase route you might want to consider trying to move your money offshore to grow until he's out of the picture.
... has promised to sign the so-called "Card Check" bill. Now again, you're smarter than the average voter, and you realize that this unionization-through-intimidation idea is going to have an adverse affect on American business. As soon as the bill is signed union thugs (organizers) will start their petition drives at thousands of businesses across the nation. Large businesses and small businesses. America's largest employer, Wal-Mart, will be one of the first targets. You don't know how far this will spread, but you do know that every business that is unionized will be a poor investment for you. So you wait .. you wait to see what is going to happen with card check.
... has promised to raise income taxes on the largest jobs producing segment of our economy, small businesses. During the campaign you heard him say that he would not raise taxes on 95% of small businesses, but you know that most of the jobs rest with the remaining 5%, and that's where most of the new jobs would be created. The ignorant voters bought his 95% line, but you're not that stupid. You saw through his rhetoric. So, again, why jump into the market now? Wait until we see what Obama is going to do with these tax increases on America's jobs-producing machine.
... has promised more business regulation. Obama is no fan of free enterprise. He loves government. Obama believes America is great because of government. You really think you need to wait before you make your investment moves until you see just what regulatory punishment Obama has in mind for the free market.
But... but... but we only wanted the evil corporations to suffer, not our jobs.
I got out and took the tax hit when it became obvious obama would win.
I will say that Obama is a reflection of too many Americans’ need for the government to provide for them. Living beyond one's means has become SOP in the US and once the credit card bill showed up people were unprepared to handle it. Hence, vote for Obama and he will continue to provide.
What is happening now is the aftermath of a credit bubble popping. Cheap and easy credit made possible by the fed and deficit spending by both the public and private sector created an unnatural demand for goods and services. Once the housing bubble popped in later 2005 it all started to come tumbling down. We are now in a deflationary period with asset values being completely destroyed, demand for goods and services severely depressed due to lack of money and credit and absolutely no confidence in the market. It has been going on for over a year.
Bush should have been impeached 3 years ago for fiscal irresponsibility.
I still digging the manure trying to find it.
“For all of the fears, albeit legitimate ones mind you, about Obama the Bush regime has been an utter failure on economics.”
I like that you take it all into account. It is popular here to hang everything on Obama. There are those among us who have ODS, (Obama Derangement Syndrome). It’s very tempting, and I find I have to check myself on that, because I don’t want to become the right wing version of my left wing brother who has BDS.
I think that a lot of this can be traced to two key events. First is Clinton’s taking the restraints off of the CRA. That was like setting the clock on a time bomb. The second event was 9/11 and the response. In order to keep the economy from tanking, the Bush Administration dropped rates and tried to infuse the economy with cash. It worked, but it worked too well. The availabilty of cash below market value fueled a spending spree.
We’re paying the price now.
I don’t think it’s napping; I think there are some buzzards nearby!
Noooooo, that couldn’t have anything to do with America electing a president with no experience and no clue and who apparently hates the 50% of the country who fix their own toliets. /s
WOW!
That’s awesome. Unfortunately.
“He’s going to give us all a Free Pony!”
Then the choice will be: should we ride it or cook it?
nObama to us: “Well, America is down. Hard. Time to put on my steel toed kicking boots and get some exercise.”
**** Then the choice will be: should we ride it or cook it? ****
Ride it of course.
'Cooking' will be outlawed due to Carbon Emissions and Globular Warming ;-)
It is to bad that I can not say what I think on FR. My ideas are not purty enough.
Once Herbert Hoobama gets done with us-the Ethiopians will be sending us care packages.
It’s just coincidence.............
It actually goes back much further than just several years.
The point of the article is that zeros policies are exacerbating the problem, probably to the point of total economic collapse.
Bush has been far from perfect, but THE CREDIT BUBBLE WAS NOT HIS DOING!
Bush warned repeatedly that Fannie and Freddie needed to be reigned in. But Congress, particularly the Frank-Dodd Axis of Weasel REFUSED to respond.
Hope and Change.
Dope and Chains.
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