Posted on 06/14/2002 9:30:55 AM PDT by laureldrive
Edited on 07/12/2004 3:38:35 PM PDT by Jim Robinson. [history]
You know why? Because he cut taxes big time - - - which got the economy growing big time; the deficits didn't matter (except in Democratic rhetoric; Walter Mondale was very worried about them, even while the economy was creating a record number of new jobs);;;;; Bush, however, pushed for relatively paltry tax cuts - to be phased in over a decade --- at which time they disappear and taxes rise again, unless something is changed. TALK ABOUT UNCERTAINTY AND INABILITY TO MAKE TAX-RELATED PLANS! Bush may have a war to keep him high in the polls for now, but he's no Reagan when it comes to domestic policy, and we're the poorer for that.
The Dow slid to a seven-month low earlier [today] on while the Nasdaq came a mere 58 points of its post-Sept 11 low.
Adding to investor uneasiness was news that a suicide attacker crashed a bomb-laden vehicle into a guard post Friday outside the U.S. Consulate in Karachi, Pakistan. See the full story.
Rickard Dickson, a technical strategist for Hilliard Lyons, noted that Thursday's failed rally attempt showed that there appears to be no bottom in sight -- yet -- for the market.
"The next areas that could provide a possible bottom should be the September lows for the S&P and Nasdaq and around 9,000 for the Dow. Absent any clear-cut evidence the market has bottomed, we would regard any rallies that might develop over the near term as suspect and likely to be short lived," Dickson said.
He's also concerned that small- and mid-cap issues could suffer more serious losses vs. large cap stocks.....
Plus, its also normal for re-tests of blowoff bottoms, like the Sept 21 2001 one, to be made.NORMAL, healthy, and if it takes chicken little headlines to get it to where it should go, then what's the worry??
Nope. That's part of the "new tone in DC". That means he goes with whatever spending anybody wants. Then he tosses a bone to conservatives with a puny tax cut. He is setting us up for Hillary in '08. I think its time to burn down your steel mill, Hank!
BTW the article is completely wrong and the reason the market is tanking is almost totally related to the uncertainty created by the War Against Civilization launched by the Islamaniacs.
I don't think the Republicans will win the Senate this time, because of Bush's miscalculations (or complicity) in furthering the Democratic agenda.
I wouldn't rule out Hillary in '04
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