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  • Why Wall Street is scared of Obama

    This is a pretty good (but probably right-leaning) article about Obama and investors. Well, maybe it's more of an opinion column than a real piece of journalism. Either way, I tend to agree with it. I don't like the idea of "wealth distribution," and I also see some of the tax proposals as a disincentive for me to strive to make more money. I'm already blasted up the rear enough as it is. McCain wants to keep the Bush tax cuts, Obama is ready to move on I believe, or go back to former levels of taxation. What do ya'll think? I especially want to hear what our investors here think.

    http://articles.moneycentral.msn.com...edOfObama.aspx
    "Common sense is not so common." -Voltaire

  • #2
    Re: Why Wall Street is scared of Obama

    Send all your income to DC. They know what's best for us, anyway. This is the philosophy behind charging us income tax that then gets piddled back to us at the State level for State services.
    Dude, seriously, WHAT handkerchief?

    snooggums' density principal: "The more dense a population, the more dense a population."

    Iliana: "You're a great friend but if we're ever chased by zombies I'm tripping you."

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    • #3
      Re: Why Wall Street is scared of Obama

      I think wall street as well as every other industry is scared of the ripple effects that have taken place due to the collapse of Bear Stearn's.

      I don't particulary think Obama is going to strike fear into Wall Street at this very moment, maybe in the long run if he is elected but he needs wall street as just as much as wall street needs Obama, and if he want's those votes he's going to have to talk wisely (those votes also includes the financial districts of all major cities in the US)
      Randy = Ace ! - Warlab
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      • #4
        Re: Why Wall Street is scared of Obama

        I think my local school district is falling apart for lack of funds, so we might want to tax someone and buy some teachers or this generation of children are going to be even dumber than my generation.

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        • #5
          Re: Why Wall Street is scared of Obama

          Originally posted by FrankManik View Post
          I think my local school district is falling apart for lack of funds, so we might want to tax someone and buy some teachers or this generation of children are going to be even dumber than my generation.
          wait what?????? Talk to the mayor of your town, get involved with the school budget proposal.

          The Town I live in every year or so proposes the most outlandish school budgets known to man kind.....it is highway robbery, and it also raises the taxes for the town....

          The country I live in Westchester, in New York has been hit hard with the recent economic hardships that walls street has faced, and if the town zoning board (which I plan on getting involved in even if its a simple letter) would do a simple re-zoning for taxes the property taxes would go down a bit and it would help.

          However, the teachers union is out of control and they feel they need so much, when most of the older teachers are tenured, and really should have their tenure questioned and looked into, however....I really don't think Obama is going to anything to do with this.

          Good original post, because I would like to ask Obama a question in regards to Wall Street and to see if he has any money invested in any companies that stocks in either the NYSE, or NASDAQ, or The Mercantile Exchange etc..
          Randy = Ace ! - Warlab
          Level II Volunteer FireFighter
          Level I HazMat Technician
          NYS EMT-B
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          Bring On Project Reality 1.0!!!
          RSS Feeds:Bamboo | | 9/11 - Never Forget |
          Apophis - "TG was created to cater to a VERY specific type of gamer rather than trying to appeal to the greater gaming population.
          Tactical Gamer is not mainstream.
          We are not trying to attract mainstream gamers."

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          • #6
            Re: Why Wall Street is scared of Obama

            Money is always good for schools, but it is also HOW you use it. I've seen schools with lots of money waste it pathetically. I've seen schools create entire 20 computer labs for $500-800. (nothing fancy, internet, microsoft office, etc).

            Teachers are more important than fance equipment. The lower the class size, the better the results most of the time. Giving me a lot of fancy stuff often just means a lot of it will be stolen.

            BUT: I get ticked everytime they try to raise my tax rates. Like I want to pay 50+% of my income? come on! That is just ludicrous.

            I know we need money for some things, but let's just punish those who make more. I'll pay my fair share, I'd just like it to be fair.

            What level Obama will raise my tax rates to is not known to me, but I do believe they will go up. I think he will pull us out of Iraq, which will stop that outflow of moeny (for better or worse).

            I'm sort of in the middle. I see things that are good in both parties and things that are bad about both. Just wish I could have a middle ground. Or at least two parties that would work together. Instead it is just wait until one side is president + majority and then undo everything the last group did.
            Last edited by Skylark; 07-14-2008, 05:40 PM.
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            • #7
              Re: Why Wall Street is scared of Obama

              Originally posted by Skylark View Post
              I'm sort of in the middle. I see things that are good in both parties and things that are bad about both. Just wish I could have a middle ground. Or at least two parties that would work together. Instead it is just wait until one side is president + majority and then undo everything the last group did.
              Oh no, two parties that work together is the last thing you want. That just results in them agreeing how to steal your money faster. Political Gridlock is the only thing that keeps your wallet safe.

              Which is why we're totally screwed this November regardless of who wins, since Obama will have a friendly Democratic congress to approve his spending measures, and McCain has already expressed his desire for the above mentioned "bi-partisan" spending spree. Hold on tight, guys. :icon_eek:

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              • #8
                Re: Why Wall Street is scared of Obama

                Don't worry your money is already spent http://zfacts.com/p/447.html

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                • #9
                  Re: Why Wall Street is scared of Obama

                  Originally posted by Kerostasis View Post
                  Oh no, two parties that work together is the last thing you want. That just results in them agreeing how to steal your money faster. Political Gridlock is the only thing that keeps your wallet safe.

                  Which is why we're totally screwed this November regardless of who wins, since Obama will have a friendly Democratic congress to approve his spending measures, and McCain has already expressed his desire for the above mentioned "bi-partisan" spending spree. Hold on tight, guys. :icon_eek:

                  But in my perfect world where these two parties work together, they work together the way they SHOULD! To FIX things. Not to 'fix' things.

                  If I'm gonna dream, might as well dream big.
                  "Sympathy means a lot, coming from Kulmar. I didn't think it was possible.
                  Good luck getting rid of your disease. If you're infected, though, stay away--I can't afford to be a zombie right now.
                  " Ednos


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                  • #10
                    Re: Why Wall Street is scared of Obama

                    In a perfect world, there's nothing to fix.

                    The late Harry Browne, one-time LP candidate, used to say, "Utopia is not an option".

                    You have to live with actual human nature, which is neither angelic nor demonic. Public Choice Economics, the science of human decision in government, recognizes this.
                    Dude, seriously, WHAT handkerchief?

                    snooggums' density principal: "The more dense a population, the more dense a population."

                    Iliana: "You're a great friend but if we're ever chased by zombies I'm tripping you."

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                    • #11
                      Re: Why Wall Street is scared of Obama

                      I just read the article. This author sounds like a political hack. For example:
                      Without giving him a chance to explain himself in detail on the campaign trail or at the Democratic National Convention, they are voting with their shares by tossing financial, health insurance, manufacturing and high-dividend stocks into the ash can, and are growing skeptical about energy companies as well.
                      Really? The market is tanking because Obama is ahead in the polls? The fact that the banking industry is on the skids and we're in the middle of the worst housing melt-down in recent history has nothing to do with investors dropping financial stocks? Oh wait, he goes on to correct himself:
                      And it's not that there aren't many other reasons for investors to sell stocks now, as the global economy tangles with the terrible twin beasts of bank deleveraging and inflation.
                      Yet somehow, Obama has more investment influence than these terrible twin beasts. The author's proof? Unsupported statistics from the (non-partisan but admittedly right-leaning) "Tax Foundation," and his own personal hunch.

                      There's more obvious fallacies in the article, but it's not worth it to go on. He got his politically charged headline, that's all that matters.
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                      • #12
                        Re: Why Wall Street is scared of Obama

                        This Wall Street is scared of Obama, but all the while there's another Wall Street chomping at the bit for his arrival.

                        People always look at Wall Street as a singular entity. Fact is, it's not... it's more of an amorphous hydra with self-replicating tentacles. Frankly, I dont see why we as a people need to stick our necks out for the current crop of rich folk in Wall Street - just so they can maintain their status quo fortunes at margins they can live with.

                        Bring in the next crop I say. It's time for new blood... or at least a smaller tentacle to eat the larger one.

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