With fifteen minutes left until the market closes, it looks like the day will end in the red. Obama may be loved here (well at least those who voted for him) but he is not loved by the foregin fat cats of the world, who invest in America as recorded on Wall Street market. So it it just me or when Obama is pastering his face on the national tv networks like he did this morning; Is he only hurting Wall Street in the process by making his high priesthood appearance?
And, even if the answer to your question is yes, I'm more interested in why it is yes, and what that means. I don't even pretend to know the answers to those questions, but am looking forward to responses from those in the know, and not just unsubstantiated opinions.
Then I would sell right Obama speaks. Nevertheless the markets are primarily fixated on the monthly jobs report. Look at what happened on Wednesday with the ADP jobs report, plus Intel revised expectations. This is ongoing water torture for any investor. This is no longer a buy and hold market. Hedge funds were to blame for the last hour meltdown in the 4th quarter. At least the market is not having these 600+ down days in Jan, at least not yet. As long as jobs continue to be lost, the market will not go up.
With respect to Obama's stimulus plan, now you have Dems and Reps bitching about it. Every single politician should just shut the fuck up. I don't want to hear any of them expressing an opinion. Negotiate behind closed doors, get some degree of consensus, then release the results.
Personally, I would focus on eliminating the long term capital gains tax for at least 2009. There is over $9T sitting in cash, and not making money in Treasuries.
Is there really a capital gains tax, if there are no gains? I agree that incentive to invest is needed, but I don't see much difference in '09 with or without a cap gains tax change.
are on assetts that have been held for many years, sometimes decades. Yes, the impact of the capital gains tax is still quite significant.
I had my mind on the AVN party I'm off to tonight. Sorry, not enough blood circulating to the brain.
When there is only enough blood to properly fuel one head, it is important to choose the right one. Wise choice grasshopper. lol
with their job loss data and the commerce dept with business outlook
Let us not forget Wall Mart and Target saying their December saled pretty much sucked.
O'Reilly, Hannity and Lambaugh are already trying to pin many thing on Obama. Let's face it "W" and the Repugnant gang really fucked it up.