Obama Would Drag US Into Depression: McCain CampLike, these are the same malignant yabbos who gave us the Bush recession, right? The same cynical bastards who now say McCain the candidate doesn't necessarily represent the McCain For President campaign on economic issues? More tax cuts for the obscenely rich? No trickle-down? Jobs outsourced overseas? Gas over $4-a-gallon? Food prices sky-rocketing? Mad cow imported? Canadian pharmaceuticals kept out?
Man! I'm already depressed. And the McSames are on say anything mode.
2 comments:
No, not a depression, just a return to the 70's under Carter (and, to be fair, Ford).
I am already planning for the Obama tax hikes: using deferred comp, delaying losses until next year or beyond, setting up trusts to divert income to lower brackets, and buying stocks for the long term, to outlast the democrats.
At some point, I have to diversify into a cash business. Fact is, the wage earners are soooo screwed. Ironically, Warren Buffett (he, a tax lover) can make like Sir John Templeton and completely (and legally) avoid taxes if he likes by not taking salary or cap gains, but living off muni bond interest. But if you work for a living, no such luck.
Another irony: the professional class loving Obama in NY, NJ, CA, WA, are gonna get slapped and slapped hard. Like me, they will bear the brunt of the Obama tax hikes, though the WS types will bear it a bit harder.
Yes, Wall Street. Already London has surpassed NYC, and with Obama and Rangel taxing carried interest and closing down commodities markets, its no wonder Europeans are cheering for Obama. You see, Obama policies mean more economic benefit to Europe (which is increasingly becoming capitalist, even Sweden). But they did not much like the "help carry the weight" part of his speech. Not at all.
One bright spot in the Obameconomy: I will get lots of business terminating pension plans, modifying plans, and our firm will make out generating WARN Act notices, international mergers, and handling bankruptcies. Sucks, but someone has gotta do it. After all, capital goes where it is wanted, and stays where it is well treated, and it isn't here. Already, pundits have tied market selloffs to Obama primary victories, and the Obama smear sites are not even attempting to rebut the socialist tag.
Seems I have been a pretty good prognosticator, so here are some investing tips. I am buying muni bonds, selective long term stock holds, and ammunition. I just added a Ruger Mini-14 to my collection so I have enough firepower now and avoid the Obama firearms tax. Also, I plan to buy my consumer goods and stockpile nonperishables. I predict stagflation and providers can't raise prices (or taxes) on things I already own.
Obama will intervene in the dollar in order to get the price of oil down. This will mean a market recovery (called a "dead cat bounce") and a selling opportunity. I will unload gain stocks then. The dollar intervention will also cause foreign goods to drop in price so it will be time for that big screen TV and japanese car. Will suck for american manufacturing though. I predict that one of the Big Three will fold in the first Obama administration, so short domestic auto stocks.
I am also buying natural gas as a hedge. It is in a loss now, but if the Dems impose Cap and Trade, it will shoot up and while everyone else is paying through the nose to heat their homes, my gas bill will be offset by gains.
Finally, if I can convince a small cadre of fellow travelers to go in on this, I plan to buy a farm, kinda like the one my sister has in Maine (don't go there--my b-i-l is a republican and even more vituperative than I), which will be a decent tax shelter, vacation spot, source of cheap food and firewood, and sanctuary in case of TEOTWAWKI. There, we will have access to food, fuel, and shelter, and will avoid the urban ills. All those Yuppies buying back into NYC and Hoboken are screwed. And so are the Dems in the long run, sorr to say.
btw, the last post was from me, Commander Guy Deux
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