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| Name: |
AUCATZ
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| Subject: |
Wall Street...
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Date:
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11/6/2008 11:08:26 AM
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obviously doesn't have a lot of faith in Democratic rule. I hope this isn't the trend we are going to see over the next 4 years. Honestly, Dems must rethink some of their promises about taxes and such. If they don't, businesses are going to either go under, reduce their size, or go overseas in droves. The headlines that Obama rule means more for the unions and the auto industry isn't necessarily a good thing for the US business community as a whole. After all, exorbitant union pay and benefits helped send businesses overseas in the first place.
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| Name: |
Talullahhound
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| Subject: |
Wall Street...
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Date:
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11/6/2008 11:16:56 AM
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As I understood it yesterday, Wall Street is continuing to respond to the fiscal crisis that didn't end with the election. The news I've been watching and reading said that this is likely to continue no matter who sits in the WH. Change always makes Wall Street jittery. Despite some "experts" that inhabit this board, everything I've read and watched indicates that the people responsible for analyzing the economic situation don't totally undersand what is causing the continuing problems nor can they predict when it will end. Some people seem to feel that Wall Street has not yet hit bottom.
You know, a lot of people are saying this and that about what an Obama presidency will be. It's just pure speculation and spin. Same thing would have happened if McCain had gotten in. I doubt it's going to be as good as some of us hope or as bad as other people think. I saw Doug Wilder on the news this morning -- he's the mayor of Richmond and was the governor of VA at one time. He said that he went into office filled with hopes and plans and then was faced with the reality that there wasn't enough money to do it all.
I agree with you about the unions. They forced a lot of jobs overseas.
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Largest 3 day drop in the DJIA post election in history. Yeah, it's just a continuation of the problem that we don't know how to fix, but managed to throw 4.5 Billion dollars at. Now banks are hoarding the money to improve their bottom line and not lending. But we told you the bailout was a bad idea. Boy, change is good isn't it? Can't wait 'till capital gains taxes are increased a third, the top marginal tax rates increased, the coal industry taxed into submission, and your 401K is confiscated by 'ol Obama to put into the gov't coffers to earn a whopping 3% with or without an inflationary adjustment. I'm sure you guys, Hound and GF will be the first in line to offer your 401K's to Uncle Sam for safe keeping. Ain't change grand? This is sickening......
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| Name: |
water_watcher
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| Subject: |
Wall Street...
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Date:
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11/6/2008 2:46:58 PM
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If you follow CNBC, the sell off goes beyond the bank crisis. It accerated in October as it looked more like a BO win do to the tax policies. Then as the polls tightened the market rallied 14% on hopes McCain could pull it off.
The sell off yesterday was the largest in percent and points the day following a presidential election ever. Today looks like further continuation of that. It is worse in certain sectors that they feel are unfavorable under BO ... like coal, drilling compaines, etc.
The other fear is what the economy will look like under a very liberal president and an all democratic congress.
Some of us spoke of this fear. It has been on Wall Street and until BO comes out and says he is leaving the Bush tax cuts in place until 2010 when they are set to expire and gives some indication of being more to the center, things are going to get worse .... very worse.
If BO goes with his plan to raise taxes and redistribute wealth and tax businesses more .... we are in for Great Depression #2. That is exactly what caused it back then and it will be what causes it again. Get ready for 25% unemployment.
The sad part is, I am not sure BO does not want that .... it would feed to his socialist point of view where more people look to the government for help and he can control and redistribute the wealth.
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| Name: |
1DERWHY
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| Subject: |
Wall Street...
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Date:
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11/6/2008 5:30:58 PM
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HOW IN THE H@#$ DO THE DEMS (TH, GF , AND THE REST OF YOU ALL) ON THIS SITE NOT SEE THAT EVERYONE IS FEARFUL OF THIS GUY? (BO) You can say what you will Talllula, but the reason the market is down is because of the fear of h is tax policies. Why do you think all of the star athletes are trying to get their bonuses before the end of the year. Like I said in an earlier post in 6 mos to ayear you will find no one who will admit they voted for him.
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| Name: |
Talullahhound
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| Subject: |
You are Delusional
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Date:
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11/7/2008 9:34:29 AM
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The market is not responding to BO election. We are in the middle of a financial crisis. People are not afraid of BO. If they were, he would not have been elected. Anything you think about an Obama presidency is pure speculation. You have no idea what is going to happen. So you might as well stop panicking for a bit. Give it a rest.
The market is responding to job loss numbers. I don't think Obama has caused anyone to lose their job yet. The auto industy is in a death spiral.
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People may not be afraid of BO ... but business and Wall Street is. Higher taxes, more social programs always kill and economy and stock market.
I just read an article written by larry Kudlow in December 2006 when Obama first looked like he would have a chance. The title was Obama will be Wall Streets worst night mare. He pointed out his liberal record and his belief on taxes and social programs and pointed to times in history and how it impacted the stock market.
The market has gone through recessions many times but have not had this rapid of a decline especially before a presidential election. Normally things are flat to up before a presidential election and typically after a change in power if Wall Street views it favorablly rallies after an exlection. Go back and look yourself.
There is a direct correlation to Obamas rise in the polls and the decline in the stock market. The market rallied after the republican convention and McCain went up in the polls. As soon as Obama went back in the lead and as it became more clear, the sell off accellerated.
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| Name: |
1DERWHY
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| Subject: |
Thats right!!
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Date:
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11/7/2008 11:02:54 AM
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Here we go again. Instead of you opening your eyes and seeing the big picture, you do just what I figured you would do and come back at me. Why not panick a little. He@@, if your not then give me some of what your smokin'. Just lke WW posted, its all there in black and white for you to read for yourselves. Why cant you people look at what is happening in front of you and realize that if things go his way(your way), with all the social programs, and free money, WE ARE HEADED FOR A WORLD OF S---!!! Now I am very sorry that I singled you out in my last post TH, but the fact remains that I don't understand how you are OK with us,THE U.S. failing!
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| Name: |
Talullahhound
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| Subject: |
You are Wrong
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Date:
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11/7/2008 11:53:00 AM
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I'm sorry, but you are wrong. The market is responding to bad job numbers and various other fears, including the housing market that have been plaguing the stock market for months now. I watch and read a bunch of financial analysts, and every one of them has said that the market was going to continue to slide and would likely bottom out around 8,000. I believe that you would like to believe that Obama is the cause, but then you don't like him, do you?
Let's wait until Obama gets in office before we start blaming him.
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Hound, I, like many smart individuals who have worked hard and invested wisely during the Bush years, have been at work for weeks now on the advice of our financial counselors moving things around before it is too late. My plan was in place months ago and I have given the OK to proceed with the rearrangement. You are delusional if you don't see this as smart people with smart advisors rethinking investment strategy. History has shown us what Liberal control of gov't does to economic expansion and prosperity. Give me one reason why I should not trust such history?
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| Name: |
Talullahhound
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| Subject: |
You are Wrong
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Date:
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11/7/2008 3:00:17 PM
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Uh, because the only thing we learn from history is that we don't learn anything from history?
I too have shifted my assets, but not because of Obama. I've shifted my assets because the market conditions .But I was already pretty well diversified.
I have no crystal ball about what is going to happen when the Dems take over. They are going to have some tough challenges ahead. I'm thinking late year 2 into year 3 before they have a chance to work their agenda.
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You panic and I'll be cool and see what happens. We'll compare notes some point in the future.
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