An Obama Panic?

[The Paperboy]

While the polls are reflecting Obama's steady hand, the markets haven't. In fact, they're getting worse by the day as Obama's lead widens. Most investors know the devil is in the details - and the details of Obama's economic plans are anything but reassuring.

Full story here

 

[DavidS]

Of course. As I mentioned in my other thread, the Republicans are trying to use scare tactics to get you to vote for their candidate. The market was down for that entire week because of a credit freeze. We have the worst housing crisis in almost a century, the credit market is STILL frozen from bank to lender, we have fears of a global recession and the Republicans want you to believe that Obama's 5% tax increase for dividends (net profit) on stocks is the reason why they're going lower.

Question: What President lowered the capital gains tax from 25% to 20%?
Answer: Reagan.

The stock market doubled in his term.

Question: What President lowered capital gains from 20% to 15%?
Answer: Bush.

The stock market is lower today then when Bush took office. The market has completely lost ALL of its value from the past 7 years.

Not since Herbert Hoover has any stock market lost value in the time of presidency.

Under Bill Clinton, the stock market increased 300%. The Capital Gains tax was 20% during this time.

Any assertion that Obama's tax policies will "hurt" the rich is complete BULLSHIT.

 

[The Paperboy]

Of course. As I mentioned in my other thread, the Republicans are trying to use scare tactics to get you to vote for their candidate. The market was down for that entire week because of a credit freeze. We have the worst housing crisis in almost a century, the credit market is STILL frozen from bank to lender, we have fears of a global recession and the Republicans want you to believe that Obama's 5% tax increase for dividends (net profit) on stocks is the reason why they're going lower.

Question: What President lowered the capital gains tax from 25% to 20%?
Answer: Reagan.

The stock market doubled in his term.

Question: What President lowered capital gains from 20% to 15%?
Answer: Bush.

The stock market is lower today then when Bush took office. The market has completely lost ALL of its value from the past 7 years.

Not since Herbert Hoover has any stock market lost value in the time of presidency.

Under Bill Clinton, the stock market increased 300%. The Capital Gains tax was 20% during this time.

Any assertion that Obama's tax policies will "hurt" the rich is complete BULLSHIT.

Nice spin. Too bad it it is universally acknowledged that the culprit in this story is the Community Reinvestment Act enacted by Carter and expanded by Clinton and fueled by Fannie and Freddie which were protected by Barney, Dood and Obama.

Clinton was nothing but a bystander of the Reagan policies and the Tech boom. Even so Clintom left office with the country in recession and emboldened terrorists waiting to strike.

 

[KMAN]

AN OBAMA PANIC? - New York Post

 

[PeterS]

AN OBAMA PANIC? - New York Post

"Recently, Obama said he wants to expedite loans to small businesses, so he seems to have a clue that they produce much of the country's job growth. Yet his income-tax hike on upper brackets will hit vast numbers of small businesses - they'd face the highest rates they've seen in decades"​

Only two percent of US small businesses have taxable incomes of 250K or more and the taxes Obama is proposing is similar to Clintons...that's hardly decades. Do you really expect us to believe that investors are so idiotic that they cannot figure that out for themselves so are panicking at the thought of Obama? Get real...

 

[DavidS]

KMAN is the new paperboy. The New York Post is about as reputable as the Weekly World News.

 

[rayboyusmc]

The middle class and small businesses are the real engines that drive our economic success.

McCain doesn't get that. Obama does.

Fuck trickle down.

 

[Toro]

I'm an investor. I work for a large institution. I talk to Wall Street every day. I can tell you that when I talk to people who are involved in the market about the melt-down in stocks, Obama is not mentioned. Ever.

This has to do with massive de-leveraging in the financial system and worries about a global recession, not about the Presidential election.

 

[DavidS]

The middle class and small businesses are the real engines that drive our economic success.

McCain doesn't get that. Obama does.

Fuck trickle down.

Trickle down has worked so well! Just look the economy, Rayboy!

 

[DavidS]

Nice spin. Too bad it it is universally acknowledged that the culprit in this story is the Community Reinvestment Act enacted by Carter and expanded by Clinton and fueled by Fannie and Freddie which were protected by Barney, Dood and Obama.

Clinton was nothing but a bystander of the Reagan policies and the Tech boom. Even so Clintom left office with the country in recession and emboldened terrorists waiting to strike.

*sigh*

You're so narrow minded. If you had one iota of knowledge about investing, you would be a lot more intelligent.

5% tax increase on basically 2% of Americans meanwhile there are millions who have $50,000 or $100,000 invested in the market who are losing money and pulling out because of the recession. The recession was caused A: By the housing bubble popping, B: By the creation and popping of the oil bubble, C: By the creation and popping of the emerging market bubble and D: By fear of the recession getting worse. The stock market has absolutely NOTHING to do with Obama or McCain.

Remember, McCain was leading by double digits when the stock market began to crash.

 

[WillowTree]

*sigh*

You're so narrow minded. If you had one iota of knowledge about investing, you would be a lot more intelligent.

5% tax increase on basically 2% of Americans meanwhile there are millions who have $50,000 or $100,000 invested in the market who are losing money and pulling out because of the recession. The recession was caused A: By the housing bubble popping, B: By the creation and popping of the oil bubble, C: By the creation and popping of the emerging market bubble and D: By fear of the recession getting worse. The stock market has absolutely NOTHING to do with Obama or McCain.

Remember, McCain was leading by double digits when the stock market began to crash.

when was McCain ever leading by double digits?

 

[Article 15]

I'm an investor. I work for a large institution. I talk to Wall Street every day. I can tell you that when I talk to people who are involved in the market about the melt-down in stocks, Obama is not mentioned. Ever.

This has to do with massive de-leveraging in the financial system and worries about a global recession, not about the Presidential election.

I also work for an investment bank.

I, too, am yet to hear Obama get brought up in the stock melt-down conversations.

Keep grasping at those straws ...

 

[The Paperboy]

*sigh*

You're so narrow minded. If you had one iota of knowledge about investing, you would be a lot more intelligent.

5% tax increase on basically 2% of Americans meanwhile there are millions who have $50,000 or $100,000 invested in the market who are losing money and pulling out because of the recession. The recession was caused A: By the housing bubble popping, B: By the creation and popping of the oil bubble, C: By the creation and popping of the emerging market bubble and D: By fear of the recession getting worse. The stock market has absolutely NOTHING to do with Obama or McCain.

Remember, McCain was leading by double digits when the stock market began to crash.

And the housing bubble occurred because of___________ (fill in the blank)

Double digit lead? Really? Link please.

 

[DavidS]

[/B]







when was McCain ever leading by double digits?

Post RNC convention. Gallup had him up by 11.

 

[Article 15]

Post RNC convention. Gallup had him up by 11.

I'm going to go ahead an disagree with that Gallup poll ...

The biggest lead McCain in the RCP average after the convention was 2.9% ...

 

[DavidS]

And the housing bubble occurred because of___________ (fill in the blank)

Double digit lead? Really? Link please.

Because of Phill Gramm, John McCain's former economic advisor. The guy that said the recession was all in our heads and that the economy was fine.

His de-regulation bill allowed Commercial banks and investment banks to do business together. Commercial banks saw $$$ because they could get 10x their money back on investing in mortgages, so they gave mortgages to anyone and everyone.

Gramm-Leach-Bliley Act - Wikipedia, the free encyclopedia

When mortgage rates shot through the roof and oil became extremely expensive, the housing bubble burst because people could no longer be able to afford their mortgages.

 

[DavidS]

I'm going to go ahead an disagree with that Gallup poll ...

The biggest lead McCain in the RCP average after the convention was 2.9% ...

RCP average is just that, an average. Some polls were higher, some were lower.
You can disagree with a poll as much as you like. The numbers are there.
Obama had almost no convention bounce whatsoever. The election was McCain's to win because everyone loved his maverick pick of Palin. When the market dropped, so did his poll numbers because people didn't think they could trust him with a bad recession.

Since the economic collapse, Obama's numbers have skyrocketed.

 

[The Paperboy]

I'm going to go ahead an disagree with that Gallup poll ...

The biggest lead McCain in the RCP average after the convention was 2.9% ...

Seems the most McCain has been up is about 3 or 4. Certainly not worth arguing about.

 

[The Paperboy]

Because of Phill Gramm, John McCain's former economic advisor. The guy that said the recession was all in our heads and that the economy was fine.

His de-regulation bill allowed Commercial banks and investment banks to do business together. Commercial banks saw $$$ because they could get 10x their money back on investing in mortgages, so they gave mortgages to anyone and everyone.

Gramm-Leach-Bliley Act - Wikipedia, the free encyclopedia

When mortgage rates shot through the roof and oil became extremely expensive, the housing bubble burst because people could no longer be able to afford their mortgages.

David,

Let's not rehash this. I agree that the Gramm bill was not good but without the Community Reinvestment Act I don't think we'd find ourselves in this situation and I don't think the Gramm bill would have caused any problem. Just my opinion.

I think you'll agree it'll be along time before anyone gets a subprime loan again or that people get approved for home loans who don't meet basic credit requirements including a normal down payment.

Enough said. Excuse me if I don't debate this one with you further.

 

[PeterS]

The middle class and small businesses are the real engines that drive our economic success.

McCain doesn't get that. Obama does.

Fuck trickle down.

McCain is still pounding on "Joe the Plumber" and acting like someone who earns 21K a month is middle class. McCain is either totally disingenuous or totally out of touch. What ever the case the man should not be allowed anywhere near our economy. He should stick to trying to count his houses. Once he can do that then maybe we can talk....