Obama, High Gas Prices = Tough Love, What We Need
Principles of the Stock Market

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Have You Seen This?

POLITICAL VIEW.  With CNBC making a big fuzz about the Dow selling off quickly on the news that Senator Barack Obama was the presumptive Democratic nominee for the November US presidential election, I have to comment.  Actually I hate to talk politics, first ‘cause I detest politics, but secondly because everyone’s got their own strong views, thus I ruffle feathers.  Without question.  Some write to me about it, others probably just sit and stew.  Still, I have to comment that, sure, the stock market wouldn’t like populist Senator Obama getting sworn in as our next president.  Certainly Democratic, a little older, white women are very bitter and upset about him presumably getting the nod.  They surely wanted to see a woman president before their time is up and Hillary Clinton was supposed to be the one.  So, who knows, they may just vote for Republican John McCain on the rebound.  Senator McCain is a true American hero, he’s authentic and fighting the war on terrorism outside our shores makes sense.  But with the entry of millions of new Americans being inspired and entering the political system by Obama’s message of change it looks like Obama should win.  Especially if the US economy goes to h - - - in a hand basket by the time we vote in November.


Schwartz View:    I can’t and wouldn’t want to argue with those that say Republicans are better for the stock market (in spite of the recent record, with the stock market booming during the Clinton presidency and being, let’s say, less than inspiring during the Bush years).  But as I see it there’s more to growing the economy than the immediate response by the stock market.  We need to bring some fairness back to all America and all Americans once more.  In other words more democracy or the equitable distribution of America’s bounty and equitable representation of all, and a little less “capitalism unfettered” as even Senator McCain calls it.  A fairer balance in the long run will prove better for our economy than forever cutting taxes, piling up more debt and just producing whatever sells, like SUVs.  We need to change our entrenched overspending habit which is just eating away at our built up wealth from years long past when we produced and saved.  When we do these things then the greenback will start to improve and our deficits will shrink.   What better for the stock market than an America again as a productive member of today’s global community?  So I’m all for change and having it come as soon as possible.  It’s the same tough love medicine that I think is needed to solve our dependence on dirty oil and coal.  We need continued high gasoline prices now to allow capitalism to work its wonders over time.  As long as crude oil stays way up in price, it’s causing tons of money to go into finding alternative,better and clearner nergy sources.  That’s capitalism at work, right?  As whoever finds the way out of us depending on our enemies for energy while we pollute the planet will get rich many, many times over.   Go Capitalism.  And Go Tough Love! 



Posted 06-05-2008 9:58 AM by Richard Schwartz