What would happen if obama decided to spend all that money to open a futures account at IB, and buy ES contracts and push spy back to 127. Would this bring back investor confidence?...For one thing it would give the stock market a huge boost, and bring in waves of buyers.
Even better, cut taxes by $825B and get some REALeconomic activity going rather than some fake pump and dump, otherwise know as a BUBBLE! I think the economy has had enough of artificially generated bubbles for a while don't you? Ofcoures as a trader another bubble to short the crap out of is always welcome
The Bush tax cuts caused our problems? I guess raising taxes like crazy will get this economy moving then.
Are you serious, that is what you attribute our current problems to? The Bush tax cuts were a) too small, b) poorly constructed and targeted , and c) have little to nothing to do with the current crisis the financial system faces and at most, discounting any positive stimulus they might have had (even the most critical studies attribute 1.6 million jobs created by the tax cut stimulus) on the economy added, added perhaps (assuming you are talking about the so call cuts for the rich) $500-700B to the national debt (again assuming no offset from the taxes paid by those 1.6 million employed and the additional corporate taxes paid due to the boost in economic activity, in truth the net cost of Bushâs tax cuts for the rich could be as low as $150B added to the national debt). No, for our current problems you need to look at those who encouraged the bubbles, the deregulation of the financial markets, and the push for a historically lax lending standard throughout the industry and there is enough blame there to go around on both sides of the congressional aisle. In fact, Bush himself played a relatively small part in it all, domestic policy wasn't his strong point, let alone meddling in the financial markets. He didn't appoint Greenie, he didn't push Freddie and Fannie to overreach, he didn't deregulate CDSs and other weapons of mass financial destruction. The worst thing that you can accuse him of is appointing Cox to the SEC as far as the financial crisis goes. I am no fan of Bush at all, worked very hard and spent 10s of thousands of $ to try and get him unseated in 2004 and obviously never voted for him, but to lay this solely at his door and his tax cuts for the rich is absurd. Even the trillions he added to the deficit aren't even hurting us yet, look at rates on the long bond and dollar strength! Don't forget that Kennedy lowered taxes too, and guess what? It worked! http://www.heritage.org/research/taxes/wm327.cfm http://www.heritage.org/research/taxes/BG1443.cfm How long do we have to wait for some sanity? http://www.fairtax.org