Friday, February 13, 2009

Obama and the Stock Marker

Barack Obama could turn everything around if he began to advocate for lower individual and corporate taxes—and a sharply reduced federal government budget. But that’s not going to happen. Investors are therefore losing hope. Things are going to get worse.

“virtually every trader on the floor thought Obama’s bailouts were a recipe for economic disaster.”

Many of these traders are not conservative Republicans. As matter of fact, it would not surprise me if most of them voted for Obama! A lot of traders are cultural liberals and find any excuse to vote for Democratic Party candidates. They lied to themselves about Obama—and now are paying an awful price.

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