Posted by
Jamian on Friday, October 10, 2008 9:19:42
As the markets continue to tumble people are asking why. In spite of the bailout, inspite of dropping oil prices, and in spite of all other fixes applied, the downward spiral continues.
The answer isn't really that difficult. Our financial markets run on speculation, forecasting, and futures. What the market is seeing is that Barack Hussein Obama is leading in the polls. What the markets are hearing is that Barack Hussein Obama will be president.
What the markets are doing is correcting in advance of higher taxes, more regulation, and an administration that has made no secret of it's intention to go after the so-called rich.
Barack Hussein Obama has engaged in class envy and warfare. His economic policies reflect this position.
The election hasn't even taken place and his policies are hurting America. As president you can expect more pain as jobs dissappear and the cost of everything goes up.
As big of a hit as we took after 911, the markets rebounded and hit new highs. The difference then was we had a President who gave us hope. A man who didn't look to punish us but instead gave us tax credits and other incentives to pump our economy up.
Barack Hussein Obama now offers us a future of higher taxes taxes, higher prices, and is promising to revoke our tax credits.
This is the future our markets are seeing and that is why are markets are down and the financial crisis is deepening.
The poor will suffer the most under Obama's policies. Here is what to expect:
Less take home pay due to higher payroll tax and repeal of existing tax cuts
small businesses to shut down due to increased tax and new regulations they cannot afford
Increased unemployment
Decreased jobs
Decreased charitable contributions as people have less disposable income
Financial markets to trend increasingly downward as investors prepare for increased taxes
Increase in the price goods and services due to increased tax on business
More government intrusion into our lives
More government programs that will require more taxes
More individual bankruptcy
More home foreclosures as jobs disappear
The poor to fall even deeper into poverty
First time jobs for teens to vanish
High paying jobs to vanish
Rationing of goods as manufacturers reduce output due to decreased demand
Increased crime
Welfare rolls to swell to a historical level, which will require more taxes to maintain
Nationalized healthcare that will reduce choice and the level of care being offered