After the Bailout: Is Obama Depressing the Market?

Obamanomics = Unemployment

As I watch Obamas campaign pulling ahead, I can't help but look around my office and wonder if I will be here in a year. I work for a small company with 8 employees. If Obama wants to raise the taxes of people who make $250,000 or more, about 4 of us are laid off. Do you think my boss is going to sell his house, sell his cars, cancel the private schools for his kids to keep us around? He's a nice guy, but I don't blame him for choosing his family over us employees. I've been here for 10 years through good and bad, but I think if America doesn't wake up and see this Obama for the fraud that he is, it will take 25 years to recover from 4 years of an Obama administration. It will be like Jimmy Carter all over again.

Don of OR @ Oct 10, 2008 17:34:04 PM

Day of Jubilee

As I see it the best medicine for the American economy is forgive us our depts as we forgive others..

A day of jubille should be called where all debt are fogiven everyone, banks, merchants, individuals.. world wide if necessary since all economies seem to be failing..and all are connected..

If this were done the economy would bloom like no other time in history...for the entire world.... for many decades..

If it is not done it appears we will lose everything and gain nothing and will foot the bill for the bandaids applied...The rich will have to pay the bill since most people will be classified as poor if this present trend continues... and the poor will be destitute...not to even mention the failing pension plans that will be a major problem since they have already squandered the ss monies.

ruth of OH @ Oct 10, 2008 12:32:01 PM

Nice try jamie

well, lets see what ronnie raygun did in the 80's that is the root of all that is happening now. Deregulate the airline and banking industry. let wallstreet watch itself. that's a funny one. ronnie complained that government IS the problem.that taxes are bad. that greed is good. well, we see the results of those beliefs put into action. ronnie and the republicans are only interested in 3 things: themselves, their money,and their money. and we see the results of their greed and selfishness. georgie just finished what ronnie started. thanks ronnie, and enjoy your dirt nap. i know i am.

Neo of TX @ Oct 10, 2008 09:51:45 AM

uh, yeah

i'm no obama supporter but this claim is ridiculous. Maybe the markets keep crashing cause paulson and bernanke can't keep their damn faces off the TV talking about how bad the economy is going to get on a daily basis.

bryan of NY @ Oct 10, 2008 09:27:17 AM

An Obama Presidency

I've been afraid of this for a long time. With Obama behind the wheel we are in for worse times, like a lengthy depression. I am getting out of the market. It amazes me that the majority of this country will vote for a guy who wants to hide his past. They are the same ones that always ask, "What can America give me?". What happened to hard work? Obama loves the financial crisis happening right now in America and the world. It plays into his scheme to take over and bring his socialist agenda to the Late Great U.S.A.

Carol of CO @ Oct 10, 2008 08:05:06 AM

Unreal!

After 8 years with no checks and balances, after 8 years of failed policy featuring almost NO regulation of the lending industry, all supported by George Bush AND John McCain, the writer is now going to blame Obama! This is too funny...

Nick of MA @ Oct 10, 2008 06:22:54 AM

After the Bailout: Is Obama Depressing the Market?

Current financial and stock market crash pushed Obama and other Democrats up in poll. So, author switches cause and consequence. I do not think there was ever such financial turmoil anywhere in the world on prospect of electing some government - even true Socialist one. And you can accuse Obama on many things, but not on threats to nationalize large chunks of private property. Does really anyone believe such panicky sell-off is caused by fears that taxes might go 10% up year or two from now? Because, that is worst thing Obama might do to rich investors.

McCain said that economic fundamentals are good. In some way, he was right. There is no risk that some major branch of production will suddenly collapse, unemployment is not so high and people still can survive on minimum wages. On the other hand, it was obvious there is going to be major crisis in mortgage-lending sector and stock was mostly overpriced. Maybe he didn't want to induce panic or he hoped things will hold-on for couple of more months, until election passes. However, things did collapse, there is no quick cure and people blame party in power - Republicans.

Is McCain's campaign salvageable? Theoretically yes, but only if markets stop falling very soon and make slight recovery before elections. However, if stocks continue falling with current rate, in couple of weeks they would reach negative values and that is obviously impossible...

Mladen Matosevic @ Oct 10, 2008 05:09:28 AM

invidious

If people are voting against Obama literally with their stock purchases, they should be arrested. We the people are in charge and we the people shall speak on November 4. Not some fat cats all scared about the contents of their giant wallets.

Tim of CA @ Oct 10, 2008 03:14:28 AM