is the continuing sell off BHO's fault?

Discussion in 'Economy' started by Skull Pilot, Oct 27, 2008.

  1. Skull Pilot
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    Skull Pilot Platinum Member

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    the continued sell off on Wall street despite the bail out may be because of BHO's predicted win on election day.

    BHO has stated that he wants to raise capital gains taxes to Clinton era highs of 28% a full 13% higher than they are today. he did modify his position to 20% but that was becasue Bill O'Reilly steered him into saying it. No one believes BHO will stop at 20 % and some believe he won't stop at 28% (yours truly included)

    So does it make sense for investors with portfolios not tied up in retirement accounts to sell now and get 85% of their money or sell later and get 72% or less of their money?

    Can you say "NO Brainer" ?
     
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  2. sealybobo
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    sealybobo Diamond Member

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    I heard yesterday that instead of using the initial bailout money to give out loans and get things moving, the bankers want to instead start buying up other banks and consolidate their power.

    Just like the oil companies were supposed to use the tax breaks to look into alternative fuels, but instead they just kept buying up their own stocks for cheap. Bastards.
     
  3. Skull Pilot
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    Skull Pilot Platinum Member

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    what does that have to do with the prolonged sell off we are seeing? and is it because BHO will raise taxes?
     
  4. indago
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    indago VIP Member

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    Skull Pilot wrote:
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    BHO has stated that he wants to raise capital gains taxes to Clinton era highs of 28% a full 13% higher than they are today.
    ----------------------------------------------------------------------

    How is he going to do that?
     
  5. Charles_Main
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    Charles_Main AR15 Owner

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    It is at least partly do to the prospects of a Obama presidency with a Democrat congress.
     
  6. xsited1
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    xsited1 Agent P

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    There is no question investors are moving their money out of the stock market in preparation for an Obama presidency and a Democratically-controlled Congress with a super majority. Expect a worldwide recession for at least the next 2 years.
     
  7. Care4all
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    Care4all Warrior Princess Supporting Member

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    no, it is a crock of partisan crud, is your simple answer! :)
     
  8. Diuretic
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    Diuretic Permanently confused

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    You can see the panic all over the world. That must mean Obama is standing for President of the Whole of the World. Yes, that's it of course.
     
  9. Skull Pilot
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    Skull Pilot Platinum Member

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    DUH

    How about with his Dimocrat majority House and Senate
     
  10. Skull Pilot
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    Skull Pilot Platinum Member

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    Foreign Markets mirror ours. Those markets lagged behind ours. When the DJI dipped below 10,000, the foreign markets did not immediately follow suit but the prolonged sell off is now affecting other markets as one would expect
     

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