Rabbit
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Actually, it is.
While some market flux and bearishness abounded before, the timing of the last two (maybe more) substantially down days right after the election is people 'getting out of Dodge' with their money, while the getting is still comparatively good.
The reason? Tax increases.
Obama has made it abundantly clear that taxes will go up. Interestingly, he wants to rescind the Bush tax cuts and won't call that a tax increase. Monied people know that he will be getting his hooks into them really soon, part of the "spread the wealth" idea that "Joe the plumber" was given an answer from Obama about. |
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Maggie G
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In case you have been living under a rock for the past few months, the market has been taking a dive since long before yesterday. |
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The Brand Name
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Don't be ignorant. It can hardly ever be any one persons fault that the market drops. I couldn't even honestly blame all of our negative economic issues on Bush. It is a combination of many circumstances. Let's be serious and unbiased please. |
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Hello
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Is Obama president yet? |
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Wayne Z
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No.
The euphoria over the election wore off and people had to start facing reality once again and the reality is that the economy is in trouble. |
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MrFreedom
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In a sense. He didn't do anything wrong, but the election of a new president with so little track record and a goal to raise taxes will tend to spook businesses and investors.
Now likely there was going to be a sell-off anyway with all the crap quarterly reports coming out. But Obama being the new prez might have added some to the turmoil.
But again, he holds no personal fault for this. |
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william
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Depends on who you talk to. Just ask Rabbit, below, he knows. By the way Rabbit, love your hat. Do you wear it to cover up the hole in your head? |
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Derek (Steelers, SB champs)
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no |
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NERDGASM
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No it's idiot amateur traders on wall street whose fault it is. I work with a 76 year old man who has been trading on the market for years and years and he is not worried in the least bit. |
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Numb Nuts
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it happens every election..the markets arent sure what will happen with the new administration so they are caucious |
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brad
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Not Obama's fault. The fault of a dem. being elected. To blame for yesterday's fall and todays fall. We'll see what tomorrow brings. I'd like to see a lot of short covering into the weekend for a +100 day tomorrow. Which is nothing for our recent swings both ways recently. |
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been there done that
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no. it is usual for the market to rise before an election and then fall after (no matter who wins). |
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Chuck P
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The market is fickle and they don't need a good reason to fall, it is based on uncertainty and there has been a lot of that lately. Investors want to make sure their money will be secure and so far they haven't seen anything to give them a sense of security. |
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