Problem 'several market watchers' haven't a clue about what 'might' happen
This is simply another attempt to attack the man before he even has a chance to govern
I did not vote for him and don't like anything about him, but finding a way to make any coming depression his before he ever set foot in office is less than fair.
BTW, I like your banging head against the wall smiley. It reminds me of a 5 year old I had in VBS one time who did the same thing.
You are right. No way that Obama can be blames for the recession/depression ... whatever is coming. This battleship has been steaming full-speed ahead toward this for a long time. As any sailor knows, once at full speed it takes a lot of time and space to turn it around.
Deflation is a possibility now. On the surface that sounds good, but economists all say that is bad. I'm scratching my head about deflation and doing some research to try to understand the ramifications of what might happen if a period of deflation comes about.
While this is true to some degree we need to remember that the markets react to perceived good and bad news even prior to any policies going into effect. At this point he has instilled no confidence into the market or the Amercan people.
Then maybe you would like to go ahead and comment on every other use of these smilies in similar manner.
So what good would a promise of 'no new taxes' mean? We have all heard that before.
Nothing is instilling confidence at the moment. Do 'some market watchers' now think that Obama is the Messiah who can solve problems with a faux promise?
However, the global economy is tanking out. I don't think we can blame that on one democrat. If one man can crash the global economy, it really was due for a makeover which should start with a better, more secure foundation.
I believe that most honest market watchers will admit that on a day to day markets are unpredictable, sort of like gambling.
However, in general they will agree that the investors/markets react to what they think the future holds.
If the future holds tax increases, particularly a potential doubling of the capital gains tax, then many investors are going to bail out.
The market reacts, stocks fall, confidence erodes, stocks fall more.
Of course the democrats and their media allies have been screaming recession since President Bush took office.
They have got their wish.:tear:
Incidentally the markets were up for a couple of days when it looked like McCain might pull it out, just before the disaster on Nov 4 .
"The stock market is down 20% since he was elected. Many market watchers say that he could end the free fall simply by indicating now that he will not raise taxes as he has indicated."
Point taken, I was wrong.
However, I still say that if Obama were to take your advice little to nothing would change. The problems started in the housing market, then moved to the banks, and now is almost universal. We have to start back at square one and then move forward. If Obama makes the mistake of keeping his campaign promise and raising taxes it will only make things worse. However saying that he will maintain the current situation will probably not help. He could even come out and say he would cut taxes further (middle clas tax cuts, etc), while nice it would probably not help. People are not spending money because many people (a) are afraid of losing their jobs and/or retirement (b) are afraid of losing their homes (c) are saving money in case things get really, really bad. Tax cuts would not change any of that. Again, we have to go back and deal with the point where these problems started (housing, credit). Once that is fixed, or at least on the road to being fixed, maybe things would start getting better (slowly).