AN OBAMA PANIC? MARKETS FEAR HIS POLICIES.
The NY Post has this article up today, it comes on the heels of CNBC’s Maria Bartiromo commenting yesterday that the market bounced when the Presidential race tightened:
Welcome back, down here on the floor with Dylan. Just walking around, hearing some rumors about one of the reasons that this market bounced off the bottom is there are rumors in the market, speculation that the race for the White House is getting tighter. And one trader telling us just moments ago that he thought the reason that the market was so low was when Obama had the lead because he’s gonna raise taxes. And then when things got tighter, things bounced off the bottom. At some point you have to believe this market starts trading on the White House. [...]
Don’t underestimate tax increases on capital gains. Capital gains at fifteen percent going to 28 percent, this market’s gonna trade down if we see that.
World markets sink on fears recession will slash profits, push small economies to brink
World stock markets tumbled Friday on growing alarm that a global recession will ravage corporate profits and push smaller developing economies to the brink of collapse.
Futures indicated a sharp drop on Wall Street, with futures down 550 points, the maximum daily price change.
Keep this in miind everytime a liberal like Barney Frank opens his/her mouth!
October 24, 2008 - 09:35 PM on October 24th, 2008
Wow, That’s nice. I’m supposed to believe that the Dow lost 5,500 points because Senator Obama might become President?
The longer you blame Senator Obama: the more you help him.