Today I'm changing gears fast enough to destroy every transmission in a hundred mile radius. For today, all you who think I'm a conservative Republican are in for a surprise. Today, I'm taking a cynical look at the current state of the GOP. From what McCain and Palin have shown recently, there's plenty to be cynical about, and it would be remiss of me to ignore such easy pickings.
The cynicism starts with a look at the failed presidential candidate John McCain. Now while this election year would be tough for any republican, with Bush dragging any ticket down into the abyss regardless of who is on said ticket, McCain's spectacular failure is still most impressive. McCain, a self-proclaimed maverick, managed not only to bore, but also to make some of the most disastrous campaign decisions of any era. McCain's consistent dismissal of his own party will now likely hurt him, for you can call your friend an idiot only if you win. McCain's surprisingly poor campaign also managed to seem technologically inept compared to his opponent. No one can forget his amazing quote, "The fundamentals of the economy are strong." Perhaps McCain couldn't have won regardless of what he did, but after he managed to make his poor campaign look worse, he had no chance.
The past is the past, however, and the future of the Republican party looks much better. If, of course, you're looking at a different Republican party. The one I'm looking at looks doomed. What kind of party looks towards a politician who couldn't be bothered to find out what the Bush doctrine was, who reportedly didn't know Africa was a continent, and who believes foreign policy experience can be gained from living near another country? A doomed party, that's what kind of party does that. While some find Republicans to be the better of two evils, the current state of the party must be causing reconsideration of that stand. Even the rats abandon a sinking ship, and the GOP certainly looks to be going down.
The GOP, perhaps, is doomed by the poor policy choices they've made. For tax cuts, which invariably are spun as "tax cuts for the wealthy," have lost popularity faster than Pet Rocks. For an uninhibited market is oft considered to be a massive problem. For simply being in the same political party as Bush. The GOP is looking bad right now, and a cynical conclusion is that this is just the start of the storm.
As always, if I've missed anything, am blatantly wrong, or seem to have a bias of some kind, feel free to leave a comment.
Showing posts with label Market. Show all posts
Showing posts with label Market. Show all posts
A Brief Cynical Look at the Economic Condition After the Election
Remember remember the 5th of November...
Today I will focus on the immediate economic implications of the election.
To the surprise of many Obama supporters, and especially to the media which seemed to ignore the connection, the DOW closed 486.01 lower to rest at 9,139.27. Influenced almost entirely by the election, which is evidenced by the inactivity of the past couple days leading up to the election, the market lost an entire 5.05% of it's value.
Oddly enough, even many Eco-friendly businesses that would benefit from an Obama presidency in the form of subsidies took a dive in stock price:
Evergreen Solar, Inc. NYSE: ESLR 4.39 -.90(-17.01%)
SunPower Corporation NYSE: SPWRA 32.99 -17.51(-34.67%)
Solarfun Power Holdings Co., Ltd. (ADR) NYSE: SOLF 7.36 -1.59(-17.77%)
Based on simple economic principals, it would make sense that the market did not like Obama winning the election.
-Raising Taxes In general,harms the Economy.(As agreed on by at least 95% of Economists)
-Capital Gains Tax (It was shown during the Clinton Administration, when the capital gains tax was lowered, that the Capital gains tax has such an impact on how much people invest that when this tax is raised the government actually takes in LESS money. So in addition to harming the economy, the government takes in less in tax revenues: A lose, lose situation)
-Income Tax (Biggest Increments on the Highest Tax brackets)
-Dividend Tax
-Inheritance Tax (I hope you weren't hoping of leaving anything for your family)
Although some liberal media would like to tell you differently, Obama is in favor of the largest tax increases in history since the birth of the income tax. The capital gains tax, income tax, dividend tax, and the inheritance tax are all on his agenda for large hikes. In addition, he would like to propose a few taxes we never had before:
-Extra taxes on any home over 2400 Sq ft.
-New gasoline taxes (this will make gas more expensive)
-New taxes on other natural resource consumption (Heating, Electricity, ect.)
-New taxes on retirement accounts
-Social Medicare Taxes
Based on this, we can cynically conclude that the stock market is in for hard times.
Today I will focus on the immediate economic implications of the election.
To the surprise of many Obama supporters, and especially to the media which seemed to ignore the connection, the DOW closed 486.01 lower to rest at 9,139.27. Influenced almost entirely by the election, which is evidenced by the inactivity of the past couple days leading up to the election, the market lost an entire 5.05% of it's value.
Oddly enough, even many Eco-friendly businesses that would benefit from an Obama presidency in the form of subsidies took a dive in stock price:
Evergreen Solar, Inc. NYSE: ESLR 4.39 -.90(-17.01%)
SunPower Corporation NYSE: SPWRA 32.99 -17.51(-34.67%)
Solarfun Power Holdings Co., Ltd. (ADR) NYSE: SOLF 7.36 -1.59(-17.77%)
Based on simple economic principals, it would make sense that the market did not like Obama winning the election.
-Raising Taxes In general,harms the Economy.(As agreed on by at least 95% of Economists)
-Capital Gains Tax (It was shown during the Clinton Administration, when the capital gains tax was lowered, that the Capital gains tax has such an impact on how much people invest that when this tax is raised the government actually takes in LESS money. So in addition to harming the economy, the government takes in less in tax revenues: A lose, lose situation)
-Income Tax (Biggest Increments on the Highest Tax brackets)
-Dividend Tax
-Inheritance Tax (I hope you weren't hoping of leaving anything for your family)
Although some liberal media would like to tell you differently, Obama is in favor of the largest tax increases in history since the birth of the income tax. The capital gains tax, income tax, dividend tax, and the inheritance tax are all on his agenda for large hikes. In addition, he would like to propose a few taxes we never had before:
-Extra taxes on any home over 2400 Sq ft.
-New gasoline taxes (this will make gas more expensive)
-New taxes on other natural resource consumption (Heating, Electricity, ect.)
-New taxes on retirement accounts
-Social Medicare Taxes
Based on this, we can cynically conclude that the stock market is in for hard times.
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