-443.48 at close. Second consective drop of over 400 points since the election. This of course, has absolutely nothing to do with a guy who has vowed to raise taxes on capital gains and on income winning and having the votes to enact his brand of socialism. Get out of the market now, and find a way to protect your 401k, because your contributions to it will soon be taxed as well.
It's baffled me as to why he would want to raise the capital gains tax when the stock market is in a free-fall. He's much smarter than that.
Is this an exaggeration? I hadn't heard about making contributions taxable. I guess it doesn't really matter, I putting most of my saving into a Roth 401k anyway.
The market is merely correcting itself, as is normal over time. The smoke and mirrors can only support overvalued investments for so long. The sooner it returns to reality, which will require a much bigger drop, the sooner we'll have a recovering economy.
I love how Democrats ignore reality. I can't think of a time when Democrats had the absolute control of congress you seem to think is necessary and that times were good for people or got good for people after enacting their policies. The flaw in your reasoning is that those of us who know how the political system works know things would be even worse if the Dems had their way.
The troubles of Fannie and Freddie and the required $1T in bailout spending is entirely the fault of the Democrats.
Entirely? Why is it reality doesn't agree with you? And things weren't going too great before F&F blew up. You going to blame that "entirely" on the Democrats?
Dunno what you're talking about. Gasoline was $2.50/gallon (or less) before the Dems took over congress. The Dow was pushing 14000. Home foreclosures are way up since they took over, as well. Bush pushed for Fannie/Freddie reform in 2003, Democrats threatened to filibuster it because they felt it would keep poorer people from owning homes. Republicans pushed for bills in 2005 and 2006, and the result was the same.
Although I suspect you're trying to make a point that it's not the Republicans fault (all by their selves), I'm not saying it is. Fannie and Freddie aren't the biggest issue here. They're just an easy target. Both sides are at fault, but to act as though this was because of less than 2 years of Democratic control (of which, a 51-49 edge isn't exactly a big deal) seems to be sour grapes here. It's not my fault your guy lost in the election.
Nancy and her clan fixed everything in the first 100 hours! I bet you forgot about that. Can you name anything the Democrats have passed or tried to pass since taking over congress? My guy did lose. Ron Paul.
that's kind of my point. They didn't do jack. But to act as though Republicans are guilt free is pretty idiotic.
Doing something about Fannie and Freddie two years ago, when there was amble warning their books were cooked and they were vulnerable to exactly what happened is exactly what they should have done. Why didn't they? (Hint: look at the campaign donations involved from those two companies) If there's any guilt on the Republicans' part in this, it's for not raising bloody hell over it, though the Democrats would have pointed to their current "solvency" as proof there was nothing wrong.
The stock market is up today! Wait--what does this mean? I'm totally confused. Someone, help me out here.
