In the aftermath of Barack Obama’s election, stocks suffered the worst two day loss since 1987.
And just think, Obama has yet to get his hands on the economy. Yikes.
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18 Responses to “Post-election markets nosedive; O, can you save us?”Search
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If the dhimmicrats are planning on confiscating everyones 401k plans they better do something about the economy otherwise the 401k plans aren’t going to be worth anything at the present rate of decline. Obamy had better get his act together.
There’s still lots of room before the stock market finds a floor, IMO. EPS valuations are still on the high side of their typical values and the economy is very weak, to boot.
It’s gonna get worse before it gets better.
The man’s not President yet and he’s already blamed, it’s gonna be a fun four years. When the market recovers and begins to rise, the cause will be traced by Republicans to Bush’s attempts to revive the economy, probably his tax cuts.
Luckily businessmen are made of sterner stuff.
#3: I think the market is damn scared of what will come in an Obama administration.. I think they’re in a defense mode and it will only get worse..
Why have money in the market when the democrats are looking into nationalizing 401(k)s?
Why have money in the market when the promise of higher taxes will hurt businesses’ profits?
Why have money in the market when we are trillions in debt, printing money like counterfeiters, and an upcoming administration promises more?
Why have money in the market when certain businesses are threatened to be taken over by the government because they’re too big to fail?
I’m sure there is more, but these reasons are EXACTLY why the market is +200 or -500 in a days time.. everyone’s freaking out.. that the coming socialism will destroy our economy.. Personally, I’m looking at getting out 75% and buying gold..
Just wait until Our Dear Leader ™ actually starts implementing his plans. Oj!
Osama voters remember; “As yea sow, so shall you reap”
I beg to differ, IMO the market is reacting to the failure of investment capital. No one knows what the next administration or the Congress will do. Frankly I believe investors have bigger fish to fry then worrying about hand wringers and socialism.
Will the next Congress let the dinosaurs die or will they prop them up?
Anyone wonder about the timing of the crisis? I think the administration could have easily kept this under wraps and let the next administration take the fall.
As to your questions:
Too goofy to respond to. No one is nationalizing 401k’s, read the proposal.
Somehow the largest tax hike in history triggered the largest expansion of the stock market. Something isn’t adding up here and those who can’t figure it out will be left in the dust, golden or otherwise. The smart investors will watch the administration and Congress for cues and flock to those businesses the government chooses to subsidize with tax breaks. Renewable energy seems a good bet.
A valid question, will the next administration control inflation like Clinton, or control inflation like Bush? I suspect I know how they are leaning.
You kind of answered your own question, businesses that cannot go under because of the government may be wise investments. Care to bet who is or isn’t too big too fail? My crystal ball isn’t that clear.
Hopefully the next administration will not fall asleep and let that happen. Maybe the Republicans will stop whining long enough about Ayres and Muslims and call the administration on it. So far I haven’t heard any politician (Republican or otherwise) seriously recommending that pension funds be allowed to go insolvent due to hidden risk investments. Wait, I take that back, my Congressmen Ron Paul is willing to the marketplace sort it out, I must admit I see merit in his philosophy.
Uhm.. yeah.. i think so..
Ron Paul still running?
I’m not sober enough to school you on the other points.. we’ll see if I can type in the morning..
The stock market fell immediately following the election of Obama, because the traders/investors got “spooked.” (Credit: Walton & Johnson).
LOL (tacky!)
Obama doesn’t have to be sworn in to save us. He can just raise his hands, walk out onto the water, and command the stock market to stabilize. The market’s down only 1k points in a couple of days, shouldn’t break a sweat.
After all, He is The One, right? The Messiah? He can see into the hearts of all men. What’s he waiting on?
Ya know, I didn’t agree with everything Bush did, but a LARGE portion of the same people that blessed the ground Obama walked on believed Bush was responsible for the 911 attacks. When you get the core of your support from THAT group, it ain’t gonna take much to have ‘em turn on your butt.
BHO better grow some broad shoulders.
#8 - That’s funny. Crude, but funny.
I believe you may have Obama confused with Chuck Norris.
You guys have been a lot of fun to chat with during the campaign, but it’s a pathetic group of folks that would spend their time hoping for the apocalypse just so it they gripe about it being Obama’s fault. The truth is this country is on the verge of a dreadful economic realignment that could permanently end our imperial phase. Even if that is a good idea in the long run, in the short run it will mean a lot of economic dislocation. I do not expect the next four years to be fun and would not have expected it if my man, McCain, had been elected. This country now needs to regroup and unify at least until we can see what we are dealing with.
If unable to read the proposal, at least read the article. I’ve seen stuff nationalized, this isn’t it. You want to see real nationalization look at what the Chavez did to the oil companies in Venezuela or this administration has done to the capitilization and investment markets.
This plan and others like it have been proposed for years. There are those who think that the current government subsidies to 401k’s are socialist. Personally I can be receptive to the government subsidizing desirable behaviors.
Sometimes I can understand the allure of conservative pundits yanking people’s chains, but Dayum, do the dogs have to bark everytime their chains get rattled?
#12: then I guess our differing opinions on the role of government will never let us agree..
You fail to highlight this point.. 401k’s will be no different than any other straight up stock investment..
So, look at what big brother will give you:
3% a year return + 600$.. WOW.. that’s a great amount of money.. run by Social Security.. Social Security is bankrupt.. This is breeding more dependence on the government.. Independent investing is the only hope right now to have any kind of retirement.. Now that will even be taken away.
Average over 20-30 years you will generally get 8% in the market, in a tax deferred 401k.
Welcome your new overlords.. what is yours is not yours..
Sorry if I cannot agree with giving away my freedom and money.
Taxing contributions will effectively kill the 401k. Period. Just like taxes kill anything that’s taxed. And if the Government is giving an “option” to the existing 401k market, then that IS nationalizing it. Get another cup of coffee. And if you think that the “new” retirement account is gonna be any safer that the old Social Security donations . . . I’ve got some land to sell ya.
I believe most of the Liberals have Obama confused with Chuck Norris. Or Jesus. Or the Highlander, I’m not sure which, probably all rolled into one.
Ghost, where was that Spirit of Cooperation after 2000? Or 2004? Or 2006? Don’t ask for something you aren’t willing to give. This whole financial collapse can be laid at the feet of the Liberals in Congress as MANY people tried time and again to fix the “sub-prime” issues that began with the Clintons, and the Democrat controlled Congress blocked it time and again.
At the risk of sounding like a truther, do you know how your hero Soros made his millions into billions?
Answer: he and others manipulated and collapsed the British currency.
Let that sink in for a minute.
Do I hear an echo on this side of the pond? And the Democrats are in bed with him as we type.
I don’t wanna see this Country gutted. But turning my chair to ignore the signs of the End of Days isn’t gonna make the Horsemen go away. Call me a barking dog if you like. But I believe if I work and make money, it’s my money. Not the Government’s to “redistribute”. Brush up on the Constitution sometime, before Sorros and his kind wipe their butts with it.
We’ll see how funny it is in a couple of years. You’re correct; let’s give The One a chance. I personally pray the Lord protects this country and it’s people, and BHO IS a Christian and has a change of heart.
But something about killing an aborted baby that survives kinda makes me doubt it.
Agreed that removal of government subsidy will kill 401k’s will kill them. We’ll have to disagree on nationilization. In my mind removal of government subsidies does not equate with government seizure.
Social security is still paying out, as I recall the amounts just increased, how’s the old 401k doing?
Oh, and that land ….. Yes, the government just became the proud possessor of $5T of formerly private property. There are a lot of people who did well from the RTC sell off of property from the Reagan administration’s dabbling in socialism.
#10 shamaal:
Can I change my vote? I want to go for Chuck Norris.
Good lord! Are we now describing NOT taxing the money we put in our retirement accounts up front as “government subsidies??? A subsidy is when the government gives you money you didn’t already have. Taking away your money is a tax! I guess that fits in with Obamanomics. Giving money to people who never paid a penny in taxes is a tax rebate so raising taxes on 401K should be a subsidy. We are doomed.
I’m told that sarcasm does not communicate clear on the internet, so pardon me if I do not see it.
Subsidies are not necessarily monetary, they are often financial. If I own a business and pay my 35% tax, but the government says that a similar business only has to pay a 20% tax, the government is subsidizing that business.
An excellent example would be churches and other religious institutions, they are granted exemptions from paying many taxes. In this case the government is subsidizing religion. Should the church get into other activities such as operating a bowling alley, daycare center or such, this would be unfair competition for the commercial bowling alleys, daycare centers and such that must pay taxes. The government in this case would be subsidizing the commercial enterprises competition.
In the case of 401k’s the government does not charge taxes on the earnings or the capital gains. The goverment is subsidizing the investment instruments and those who provide them by giving them a competitive advantage over other non-401k investment schemes. This is why 401k’s are regulated with strict rules regarding the amount of contributions and the content of the investments.
Note: there are several types of 401k’s, I’ve described a simplified plan.
I’m not sure everyone understands how heavily socialized the good old US of A really is.