Some of my liberal friends have told me how goofy I am for noticing that the stock market has lost value when Barack Obama's Presidential campaign rises in the polls and that stock prices have risen when Barack Obama falls in the polls. The correlation is noticeable enough for me, a grain trader to notice it. Well McCain's poll numbers tightened again today plus John McCain and Sarah Palin were interviewed together by Maria Bartiromo on CNBC today. CNBC is watched in nearly every trading office in America, it's even on the screens of televisions on exchange trading floors without the sound. The Dow Jones 30 rose 889 points today.
Maria Bartiromo also played the notorious Obama judicial redistribution
tape on air yesterday. Chalk two up for Maria, she's bigger than most of the "big boys."
No video yet but it was a good day for America. Don't listen to those who state that stock traders and investors pay no heed to such ignorant Obama promises as: raising corporate taxes, raising dividend taxes, raising capital gains taxes, rewriting trade treaties to the detriment of all involved, raising overall taxes, increasing regulation, funding "community organizers" like ACORN that use their bullhorn to steal (see: ACORN's involvement in the collapse of Fannie Mae), lower defense funding in a dangerous world, a disturbing, nearly dictatorial view of opponent's free speech rights that will likely be used in the regulatory realm and I am sure that I have missed some things that the buy side of the market looks askance at.
During the rare economic discussion with my liberal friends they really can't make cogent arguments on how those policies are beneficial to the average business, I ask a very simple question: how will raising the taxes of a business give that business incentive to: hire more employees, raise the salary of their employees, increase their bonuses, give them more time off and increased family leave, give them or increase their health insurance, give them or improve their retirement plans?