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Originally Posted by Bobcat
Nevermind65 .... "the economy sucks under Bush and unemployment just skyrocketed " ... I spent my working life in manufacturing and sales . Still have contacts there. Food for thought ... Obama says he is going to give Unions an open ballot for elections ... no more secret ballots . This opens folks up to all sorts of pressure from the Union organizers and will make organizing plants/workplaces much easier . I have been told that some companies are already shedding people ( they are an expense that can be reduced ) while they can and also speeding up automation plans .
Maybe it`s my imagination , but isn`t unemployment much higher in states that are heavily unionized ?
Stock market going down ?? Part of it is because people are told capital gains and dividend taxes are going up . Guess what ... you sell now to save money ... I did .
Second , go back and check, but when the Democrats increased the minimum wage recently , the unemployment rate went up the next month .... Bush`s fault ??
Don`t get me wrong ... there is plenty of blame for both parties , but I believe it was Chris Dodd and Barney Fwank that were heavily involved in the fiasco at Fannie May and Freddie Mac ... and yes , Republicans were also involved , but not to the extent those two were ... and this was the final straw ,imo , that brought everything down .
Raise taxes on the evil rich ? Must be nice to be able to legally steal someone`s money and give it to someone else ... oh , I forget , they don`t really need all that money they worked for .
Read Ayn Rand`s book ... Atlas Shrugged .
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Obviously you missed my whole point. To sit there and say "the sky is falling" when somebody has yet to even take office is a bit like crying wolf. I'm not a union fan and never claimed to be. I personally think they are driving the prevailing wage lower with all their antics. On the flip side though, we continually see manufacturing leaving overseas and while the middle class has only seen small wage increases over the years, the elite of our society has benefitted massively from the tax cuts and freebies.
Say what you want, but it is pretty obvious that all those tax cuts over the last few years haven't seemed to create a lot of permanent jobs since the unemployment rate is skyrocketing.
As for the market, I'm buying like mad. 20 some years left to retirement and guaranteed it will rebound a few times between now and then. There is way too much money in the market for it to be so low.