Trust me, Obama can promise all the ice cream he wants, but at $4.50 a gallon, the hoi polloi as you call them, won't be listening to anything but their screaming wallets.
regrettably you will be proven wrong. or as gg barnum once said you can never go wrong betting on the stupidity of the american public
The day the title of this post and posts like it turns to "America isn't as bad as we thought, real economic recovery" is the day I fully lever short.
pretty insane this market is inflated at these levels, starting to feel like a major rally is on the way, and I never thought I would be saying that.
lol. Seriously, there are a bunch of knobs on this site who continue to argue for these "pre election rallies" as if they are a certainty. Two of the past three Presidential election years experienced intense sell-offs. Not only was 2008 a bloodbath, but everyone seems to have forgotten the "dot.com" bust of 2000 as well.
I am guided by history. Though history doesn't repeat it often rhymes. Look back at the S&P. You will see that when there is an incumbent running for re-election the market goes up from a low in late july or early august through at least election day. When you have a lame duck president, this is less reliable. Look at 1996 july-october and 2004 july-october to see what I mean. Gas prices are also fair game before elections. In 2004 Goldman decreased the weighting of gasoline futures in the GSCI prior to G.W. Bushes re-election! some incumbent Presidents have, for example. suspended buying of petroleum for the strategic reserve prior to an election, etc. There are many ways to temporarily push gas prices at the pump in a "helpful direction" in time to help an incumbent president get re-elected re-election. It is always good to have friends in the right places when you need a favor. http://www.salon.com/2004/03/12/unger_2/