Since Obama's re-election:
Gas prices are going up
Unemployment claims are way up
The Dow Jones is down 1000 points
Looks like four more years of excuses, talk and inexperience. A country wandering in the wilderness with a community organizer at the helm.
Markets react to confidence - or lack thereof. Are you saying Obama's policies have zero affect on unemployment? Plenty of stories of businesses that will not hire and will reduce employee hours because of Obamacare will not hurt the economy? Or the possibility of higher taxes on business come January 1 won't hurt the economy/unemployment? Or a dollar still on the decline has no cause?
BC - one person's opinion on the "fiscal cliff" and affect on the economy and markets.
-- Posted by BCStoned on Thu, Nov 15, 2012, at 10:28 AM
I think I was born into that government. And you hit the nail on the head. NONE of today's political mess would be around IMO if the US government didn't control so much of our lives. If it were weak domestically and couldn't dominate our lives then lobbyists, foreign governments, corporations wouldn't be so involved and the election every 4 years wouldn't be a big deal.
Having said that I do believe that a president can project confidence and help the economy simply by not raising taxes or creating massive government programs. Yes - both parties are guilty of that. But Romney's pledge to repeal Obamacare, to me, was a move in the right direction. Not a move across the finish line but a step toward it - with about 1 million more steps to go. :-)
Not to worry, Obama will keep pressing for a tax the rich solution and all problems will be solved.
I'm not rich yet, the past nearly 60 years of work haven't been enough to make me a man of great wealth. But I'm thinking if I can stay healthy and work say another 40 or 50 years, I can get rich... so I want the government out of the way. I don't want Obama taxing me when I get rich. ;-)
Maybe I should start buying lottery tickets.
"Gas prices are going up"
So what exactly would be different with gas prices had our election went the other way?
If you are a big believer that Romney would have instilled more "confidence" then wouldn't more confident consumers & businesses be driving/flying more and going forward with hiring, expanding and making new large purchases? All that activity would significantly increase demand for gas which would mean even higher gas prices.
increase demand for gas which would mean even higher gas prices. -- Posted by Nil on Thu, Nov 15, 2012, at 12:13 PM
Unless as a candidate you promise to increase permits for energy exploration on federal lands - which the current president has cut dramatically
The real point is the artificial drop in gas prices right up to election day then the sudden rise. Or the sudden drop of unemployment to 7.9% right before the election - and it's return to rising right after the election.
Just facts, nothing else.
-- Posted by Nil on Thu, Nov 15, 2012, at 12:13 PM
Romney did not get elected and business is issuing a vote of no confidence on Obama as we fast finger the keyboards.
As we type DJIA down over 52 points. Another vote of confidence for Der Fuhrer.
Some in the market, according to CNNM, claim that the US is set to replace Saudi Arabia and Russia as the largest producer of oil.
-- Posted by BCStoned on Thu, Nov 15, 2012, at 12:46 PM
I thought the London Exchange Board sets the price of oil, in concert with the New York Exchange. Has this changed?
I DID however note the drop in price just prior to the election. Also, a drop in prices at the grocery store. Playing us like a fiddle is my guess.
Also, because of the Arctic ice melting, the US and Russia are gearing up to tap the resources there I hear.
What's the scoop?
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