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another reason the economy is BAD and...

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another reason the economy is BAD and... Empty another reason the economy is BAD and...

Post  BillD Wed Oct 08, 2008 6:41 am

will NOT get better any time soon. Yeah, LOL, for this we can blame Obama, too!!
From MSN's money/investor site:

Investors this summer have been placing their bets on an Obama presidency, and for the most part that hasn't been good for the market.

Without giving him a chance to explain himself in detail on the campaign trail or at the Democratic National Convention, they are voting with their shares by tossing financial, health insurance, manufacturing and high-dividend stocks into the ash can, and are growing skeptical about energy companies as well.

It's not that major institutional investors don't like the man -- far from it. He has many backers among the financial elite, including multibillionaires George Soros and Ron Burkle. And it's not that there aren't many other reasons for investors to sell stocks now, as the global economy tangles with the terrible twin beasts of bank deleveraging and inflation.

It's just that Obama's rhetoric on taxes and health care is scaring common wealthy people with large capital gains from investments made over the past decade, and a lot of them don't want to wait around to see whether it's just populist fluff that might be set aside once he takes office.

Plus, the Democrats who run Congress know that a weaker economy favors their nominee -- and they are loath to pass banking or trade legislation now to improve the nation's industrial standing over fears that it could backfire and give comfort to the Republicans. And finally, there is a well-founded anxiety that one-party rule in Washington for at least the next two years will bring about the sort of abuse of power that has gotten both parties into trouble over the past few decades.
BillD
BillD

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another reason the economy is BAD and... Empty Re: another reason the economy is BAD and...

Post  BillD Wed Oct 08, 2008 12:17 pm

http://www.freerepublic.com/focus/f-news/2100597/posts

A person needs to keep in mind that foreign capital is fleeing the American stock market because of the threat of an Obama presidency. His economic policies simply choke off any reason to invest in America. As I've mentioned earlier, his tax policy to raise federal income tax and capital gains tax investors, will simply drive money into China, India, Russia and Dubai. Obama has also promised to buy 2012 votes by spending another $1.5 trillion during his first term.

He plans to fight a global war on poverty where he will tax Americans and send the money to the UN to spend worldwide. This has already been introduced by Obama in legislation http://www.aim.org/aim-column/obamas-global-tax-proposal-up-for-senate-vote/

Regulation already costs America between $810 billion and $1.7 trillion per year, ( http://www.house.gov/jec/cost-gov/regs/cost/regulate/regulate.htm ) or about $10,000 in lost output for every U.S. household. Hell, just Google "foreign capital leaving U.S. markets" to find a plethora of articles explaining why.

Add to all of that this man's protectionist policies, (that Brokaw managed to steer clear of last night) which many economists believe contributed mightily to the Great Depression and you can bet your bottom dollar that change is coming but it's not the change we need.
BillD
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