Old school biker done with partying, passing on thoughts of the old days. Remember before you can be old and wise you need to be young stupid and lucky.
Thursday, November 6, 2008
Market takes a dive
It's interesting, 2 days after the election you would have expected the market to stabilize, hold steady something like that and it's not it's in the toilet. The bail out is going through gas prices are down Bush is leaving and there's a new president. The president has the approval of what 52% percent of American voters. So how come the market is doing an imitation of a submarine? I know people are going to say it's been fluctuating for awhile and yes that's true. However I would have thought that with the election decided, the uncertainty gone the market would have at least leveled off for awhile. Guess I thought wrong. Maybe that is why the market is doing what it is doing, because the uncertainty is gone. Obama won. He wants to tax businesses and rich people. So businesses and rich people normally being intelligent, (and I'll save all you Obama fans from having to add the following) greedy, self centered, not at all concerned with America or its poor, (got most of them) are bailing on America. Why? The great unwashed masses out there voted him in with a 4% popular vote and a coastal and IL electoral vote so that he could tax these businesses and people how dare they leave? Because they're smart, they realize that true economic growth does not occur by a redistribution of the wealth. It occurs when people are willing to work. When businesses are willing to grow and employ more people. It grows when the American dream my grandparents came here to find is realized. It does not grow when businesses and people are taxed just to redistribute the wealth. They will leave, they will not work or build something just to have it taken from them for no other reason then to give it to someone else. Have there been financial abuses by the large multinational corporations? Yes. Do we need to institute safeguards to hopefully prevent them from happening again? Yes. However if we do not allow corporations and people who invest in them to retain the lions share of the profits, keeping in mind they are risking their assets to fund and keep these businesses going what reason will they have to stay in America when other countries are clamoring for work for their people and will let them keep most of the profit? It sound very good and idealogical to spread the wealth however if you're old enough to remember sandlot games that were played when the kid who had the ball got there and ended when he left, that's what you have here. These businesses and rich folk have the ball and if Obama and America does not make it worth their while to stay here, game over.So I feel it would be in America's best interest if Obama and his people sat down with these businesses and people and work out a workable deal before he and congress are wondering where their retirement is coming from since there maybe no one working in America.
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