The majority probably have the right intuition on this. We just tried an 8-year experiment in supply side economics that failed, crashed and burned. The tax system tilted the playing field to infuse a huge amount of capital into big corporations and financial companies, on the theory they would invest downward and prosperity would trickle down from above. That didn't happen, instead the middle class got stagnant wages and chronic underemployment. So let's try Obamanomics. Invest in the middle class, targeted tax cuts to companies but only if you create a job first. Penalize those who outsource. Once we get the middle class' job picture to improve, consumer confidence will come back, spending increases, and money trickles up. The rich will still get rich under Obama. Those will be healthier profits that come from production rather than trying to flip debt instruments. So on net balance I'm hopeful Obamanomics will be good for the economy and the market in the long run.
Maybe they are right. The question here is was the bottom set the weeks leading up to the election or will the bottom be set after Barry is elected. I tend to think Barry wins a closer election than Barry's MSM propaganda machine would have us believe. The voting irregularities uncovered will leave a very sour taste in the Sheeple's mouths. So in addition to the lack of confidence in our economic system, one can add the lack of confidence in the GUBMINT to execute even its routine charges, like administering a national election. If that be true, then the markets gods will not favor Barry, although he will still have those media gods servicing whatever his pleasures be.
hmnnn. the old coin toss poll. Instead of heads and tails we are polling Dems & Reps better for the market.
I don't know how you define Socialism, but the $700 billion rescue package seemed like socialism to me. The progressive tax rates that we have was implemented by Teddy Roosevelt who is McCain's hero. We provide student loans to people and that is a form of socialism too. Farm subsidies are another form of socialism that is championed by the Republicans. We tried the Conservative method and are in this hole, it is time for a change. I'm not sure if the end result of this change wwill be better or worse but it is worth trying.
As a conservative, I resent your use of term conservative. There is a difference between Republican and conservative. The national Republican ticket has for the last eight Presidential elections had boys named George Bush and Bob Dole on the ticket. Those boys were by NO means conservative. The lastest, Jorge Bush is NO conservative. He went to bed with his drunken buddy Teddy Kennedy on No Child Left Behind, Prescription drugs, and Amnesty for illegals. Jorge's fiscal policies were that of a drunken sailor. Call that idiot Bush a Republican and his Gerald Ford lap boy Vice-President, Republicans, if you will, but they are NOT conservatives, and there are many places on the internet, where you can find conservative animus for Juan McCain greater than that for Jorge Bush and that is saying something.
What did the market do after passage of the bailout? Stocks broke 30% on air. The bailout vote was passed by a majority of Dem's and opposed by a majority of House Repubs. The market has been weak since the day the Dem majority entered Congress. Taxing corporate profits at a higher rate is not a bull item for stocks. America ALREADY has tried Obamanomics. We did it with FDR and LBJ. To this day we're being crushed by the under funded entitlement liabilities of the New Deal and the Great Society. Europe has a quasi-Socialist safety net, eh? What have THEIR markets done? Even worse than ours. Global investors are all thinking the same thing, "if even America-the unabashed home of laissez-faire market economy can become some socialist shitter then there's little help for Europe, South America or Asia."