Choice Between Bush, Kerry Presents Quandary for Wall Street

[RamboLiberal]

http://www.latimes.com/news/politics/2004/la-fi-bushstreet21oct21,1,2102062,print.story?coll=la-home-headlines

President Bush's tax cuts have been a boon for high-income stockbrokers and money managers, and his plans for new investment accounts would bring a torrent of money to Wall Street.

Yet an undercurrent of concern exists among the nation's financial elite about the broader consequences of Bush's policies.

Record federal budget deficits -- swelled largely by the tax cuts passed in 2001 and 2003 -- are fueling fears that the economy and securities markets are headed for serious trouble. Those pressures could be exacerbated if Bush makes permanent the tax reductions, as he has pledged.

"There is a day of reckoning out there, and it's closer than a lot of people realize," said Brett Gallagher, who directs stock market strategy for Bank Julius Baer in New York.

[LynnTheDem]

1. The real quandry is between their personal greed and their country

So Wall Street, what's it gonna be? Filling your pockets with old people's "privatized social security" from bush as fast as you can before America's economy is totally bankrupt...or doing what's right & best for America and Americans now and for the future?

[LoZoccolo]

2. I am a stock-investing capitalist pig, and a Democrat.

And I've known for some time that you can't just have this free tax cut giveaway and keep things running in the manner that's made this the best economy in the world. It's too big of a change! It's like doing coke - you'll feel freaky high for a bit, but then you've fucked things up long-term. The smarter investors know this - the jerks don't.

[The_Casual_Observer]

3. " it's closer than a lot of people realize" Maybe Nov 3

When they don't have to pretend anymore?

[Lorien]

4. My rabid freeper stockbroker is voting for Kerry

he defended * staunchly, until last year. Guess the fountain of Kool-Aid ran dry?

[Cha]

7. He ODed on

Koolaid! Now in recovery..

[kysrsoze]

5. If the economy collapses, Wall St. won't do well. Go Kerry!

[jayctravis]

6. If Kerry balances the budget...

...or gets even close again (the goal is to cut it in half in four years I believe he said) how are the people ever going to let Republicans in the White House again?

That would SO kick ass, although the Freepers would once again claim that the "previous administration set us up" for an economic turnaround. <rolls eyes>

[Carolab]

8. But, but, but

I thought Unca Dick said "deficits don't matter"...

If Wall Street supports Bush, the headlines will read "Wall Street Lays An Egg", just as they did in 1929.

Hey, Wall Street--were you better off four years ago than you are today?????

[TheWebHead]

9. what most in the investor class

fail to recognize is the importance of the middle class on our economic engine. Bush policies in effect create an aristocracy, and rich people horde cash - they don't spend it or if they do it's on a narrow set of goods (boats, jewelry, foreign cars, vacations in other countries, etc). An evening of the economic distribution creates continued and broader-based GDP growth as those on the bottom immediately spend whatever added cash they get.

[TaleWgnDg]

10. Does this mean Warren Buffet doesn't know what he's doing?

. . . . . . .. . . . . .


http://news.bbc.co.uk/2/hi/americas/3679627.stm




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[moondust]

11. No-brainer.

w/Bush: The rich get richer while the nation grows weaker and more isolated.

w/Kerry: Everybody gets richer while the nation grows stronger with real alliances.


Have they forgotten the 90s already?

[Blasphemer]

12. I hope they open their eyes

If they have brains enough to see past the immediate future, can there be any question? Sure, there's the most minute percentage that will continue to roll in the dough Shrubco's war machine will bring in, but beyond the defense contractors and the like, what's left when the middle class is history? Working poor (if you're one of the lucky ones and still have a job) can't sustain an economy. After this inane administration has isolated us from the entire world, even hopping on a Jet and abandoning the U.S. for other countries might not be an option.