Say Goodbye to your 401k
Hannity last night asked the question if what we are seeing in the stock market is from the “Obama Effect” and he was laughed at by Colmes. I don’t think this is that far out there. If the stock market is based on consumer confidence then wouldn’t it be reasonable to assume that people are not confident in the upcoming administration’s ability?
If you knew today that your money is going to be worth 10 to 15% less tomorrow, wouldn’t you sell? Why is this such a hard concept to understand? Did all you people who have assets in the market not believe that your money was going to be worth less under Obama? I guess you were hoping that $500 tax break was going to offset the trillions lost in the market.
Well America, you asked for it. Say goodbye to all your money in the market. Three cheers for Obama!
Anyone looked recently at their children’s saving for tuition plans? Let me get this straight…not only has the investment I made in a program run by the government lost 20% in the last year now Obama wants to tax the “upper five” an extra $7500/year minimum. Sorry kids but we’ll have to start looking at community college.
I am sorry, you cannot credit Bush for the rise and not the fall of the market. If you want to use consumer confidence as a measuring rod it started its sharp decline in April 2007, but has been on a decline since Bush took office. At the same time, the Bush approval rating has gone to almost being non-existent (which happens to be in line with consumer confidence).
Being a radical conservative, I can see how you blame the problem on someone else!
That’s just it. I’m not saying Bush has been the best president in the world but the rally call of the liberal left has been Bush has created this market. At the same time gave him no credit in bringing back the stock market from crashing after 9/11. It has been increasing since late 2002 to all time record highs of over 14000 in mid 2007. If the stock market is driven by consumer confidence how do you explain that consumer confidence has been declining since he took office yet the market has seen huge increases?
So you can’t have it both ways. You pick.
I am also smart enough to know that policy is not set by the president. That said, we had a republican controlled congress for the last 6 years or so. The economy has been doing fairly well given the amazing amount of disasters and corporate scandals plaguing this country. It’s only since the democrats have controlled Congress that the economy has been tanking. Coincidence?
The WSJ reported today that Obama’s tax policies are playing a role (how big is up for discussion) in the market tanking. This is the first time that a president in a post war election period has seen losses like this in the market. Coincidence?
If by radical conservative you mean someone who believes in working your way up in life and not having everything given to you. I am. If by radical you mean a parent who wishes their children to say the pledge of allegiance…IN ENGLISH. I am. If by radical you mean someone who thinks our voting ballots should be in ENGLISH. I am. If by radical you mean someone who feels the institution of marriage is between a man and a woman. I am.
Incidentally, isn’t a radical someone who has vastly different opinions than the majority? If so, I guess I am not considering the majority of this country is center right. I would venture to say more people agree with my statements than would disagree. So am I that radical!?!?! No, I am a parent that wants to raise my kids in a country that I learned about when I was in school. Not this new, anything-goes, anytime, anywhere country people like you are trying to create. A country where there are consequences. A country where you can have nothing, aspire, and obtain success.