The stock markets aren't happy with the election results.

Disclaimer: I am not an economist; I just love numbers. Here are a few sources with info on the topic of historical effective tax rates. What does it all mean? You tell me.

Historical Average Federal Tax Rates for All Households, from Urban Institute and Brookings Institution Tax Policy Center

Federal Tax Rates by Income Group from 1960 to 2004, Piketty and Saez, 2006.

Historical Effective Marginal Tax Rates on Capital Income, 2004 CRS Report for Congress

 

Pro-Romney beauty runs over her husband because he didn't vote. He's in critical condition.

http://nymag.com/daily/intel/2012/11/holly-solomon-arizona-vote-car-husband.html

 

You honestly believe that a country is immune to an economic collapse like Greece? Are you believing this because our country has a large stake in the worlds economy? Any country is just as prone to economic collapse as any other country without a good budget in place.

I don't know if you've known about this; but after the financial collapse starting with bear sterns to Fannie may almost created a total economic collapse in America. We were literally this close to another depression. If the government didn't bail out certain companies; we were toast.

With that said; no country is immune. Overspending like the wife that goes crazy with credit cards can do our country in. This is simple economics. Tell you what. Get all your credit cards and max them out. Then buy a few cars and margin invest in the market. Do all this and make sure you really do research and invest only in low risk investments. I guarantee you could see profits and positive growth; yet you will be bankrupt in a few years. That's a fact. There is a reason for budgets. It's to protect the economy.

 

Do I think the US is immune to economic collapse? No. But do I think the re-election of Obama is going to cause an economic collapse? No.

The common thought around here seems to be to compare an individual's or family situation to that of the US economy. I don't beleive that is a good analogy.

Reading through these threads I see a lot of posters who can't handle the fact Obama was elected and are now venting in any way they can including making ridiculous claims . . . . like the Dow will go down 1000 within a week of the election.

 

All I can do is speak for myself. It's not the re-election of President Obama itself, it's what his re-election represents. I couldn't give two shits about Barack; he's always been a preening narcissist who isn't smart enough to know what he doesn't know.

What this election was a statement of is that the country has decided to go in a radically different direction. We're turning away from a country based on community and self-reliance to one that will first look to the government to solve our problems. In short, the takers are now greater than the makers. Those takers will now vote themselves ever more benefits and demand someone else pay for them.

As it relates to business, it means the chosen big businesses will do just fine. The more politically connected your firm is, the better your business prospects will be. Those will be the one receiving the loopholes and will have business guided to them. Sure, they'll be less competitive with Obamacare, but they'll get tradeoffs of protectionism to make up for it. It's small businesses that are going to get slaughtered. More regulations, more difficult to grow, rising expenses, less demand due to more money going to the government resulting in a sputtering economy all point to difficult circumstances.

For the consumer, taxes are going up (perhaps not tax rates for everyone, but there will be plenty of new taxes for everyone to enjoy) and with new regulations, energy costs are increasing. With wages flat, it means we have less to spend. With credit already stretched, there's no slack to afford additional goods and services.

That's why I'm distressed about the direction of the country. I've lived in Europe (both north and south) and I see the sclerosis a lack of opportunity and a cradle to grave social safety net has on a society. It makes me sad my son will grow up in a very different country than the one I did.

 

Wait until the announcement of the tax hike for capital gains. Some are still hoping for news that the Obama administration will keep taxes the same. If it doesn't; expect a huge drop.

Also Obama has the opportunity to turn things around. But many believe he is too left wing to compromise. The jury is out still on this matter. If he begins to make decisions on the bipartisan flavor; things can turn around quickly. But I'm not holding my breath.

 

Does anyone know what the Dow ended at on Tuesday, November 6th? This ain't been pretty this past week.

 

powerfull post Maxiep

consider, if oboma care is no big deal to business, as some here will tell you, why did many of oboma supporters get an exemption from it?

 

Absolutely! That, and unions. I hate friggin' unions with a passion!! (sorry, not to put the union workers down, but the idea of unions and their "leadership" - or lack thereof. Almost, like a mini-socialist-society in and of itself. Ick.)

 

Found it. It was 13,245. It's gone down approx. 675 points since then.

Wonderful.

 

some conservatives are sounding more and more like the conspiracy theorists

the market goes up and down, maybe the market was a little overvalued and is correcting itself, or maybe the ruling illuminati elite are secretly moving their vast stock holdings into gold bullion in anticipation of the global collapse they have so deftly orchestrated

 

S&P500 down 4.2% since the election.
Nasdaq down over 5% since the election.

 

Or maybe proposing $1.6Trillion in new taxes doesn't appeal to the market?

 

Nope. Sheep have short memories.

 

ahh so all the people selling right now are sheep? oh or just the people that will be buying later? both? not sure where this is going

it might never go back up though, and then you win...or something

 

People will buy again. They'll forget about the Euro issues, and our fiscal issues, etc. I don't think I ever said the markets would stay down forever. I'm not sure why you're implying that I did.

Technically, with my current positions, you're correct. But I don't want that to be the case.