Saturday, November 1, 2008

Prediction for November 5th

I precict the day after Obama wins the election Tuesday (Jimmy G's B-day) the stock market will tumble. Even after all the selling that's already occured, anyone with investments who wanted to sell within the next 3 or 4 years will be crazy not to get out now and avoid paying another 13% capital gains tax that Obama promises to enforce. You want a recession, you haven't seen anything yet.

5 comments:

Baxter said...

First, Obama is proposing an increase to 20%, not 28%. Second, any investors selling for that reason on Wednesday would be the "dumbass" investors, since they'd be selling due to an event that has been long foreseen. If they were concerned, wouldn't they have sold already?

Gary said...

The election has yet to be a forgone conclusion. On Wednesday it will be. Plus everything I've read states that Obama wants to raise capital gains to 28%.

Jim G. said...

Rich has no idea. He just looks at MSNBC and says whatever they say. Actually no one has any idea.

Could be 20/30, could be we reset the clock to August 1. Because it is funny money to developers and Democrats, it makes no difference.

Gary, yes/no, it depends on whether the Democrats get a filibuster proof majority in the Senate.

If they do then Katie bar the door.

Baxter said...
This comment has been removed by the author.
Baxter said...

Jimmy has no idea - he just watches Fox News and repeats whatever they say...

CNBC, Cramer, Kudlow, etc have all reported an Obama victory "priced in" for some time.