Teh Narrative

is this the Noo Meme?

[November 06, 2012|Jon Markman, MarketWatch] The stock market loves President Barack Obama. With all its cheating heart, and all its mercenary soul.

More than that, actually — it adores him. The love story of Wall Street and Obama is a bromance like no other, a man-crush for the ages.

Despite his threats to soak the wealthy for more taxes, despite Fed Chairman’s attack on savers, despite even his threat to kill special treatment for dividends, institutional investors have thrown themselves at Obama’s feet as they have not done in the first term of any president in the past century.

rly?

13 Comments!

  1. Alan outback bacon czar
    Posted November 11, 2012 at 11:47 pm |

    I suppose this is why the market dropped 300 points the day after obama’s re-election. Who makes up this crap, anyway?

  2. Posted November 12, 2012 at 3:22 am |

    More cognitive from dissonance from yet another Obama ‘fluffer’.

  3. Posted November 12, 2012 at 6:50 am |

    Really? My 401K feels no love.

    But then, maybe we’re all be happy that he hasn’t declared stocks and investment shares contraband by executive order, and confiscated them.

    Yet.

  4. MikeG
    Posted November 12, 2012 at 7:04 am |

    ^ Walt,

    There has already been talk about how to go about grabbing the money from private 401k funds to help pay down the debt. Only talk for now, no where near happening, as you say…yet.

    The plan then would be to have the government repay people a little bit every month when they retire. You know, like social security. That’s working well isn’t it?

    Maybe THEN the libs will realize what they did last week.

  5. Posted November 12, 2012 at 7:14 am |

    Funny, my retirement funds have dropped about 10% since election day, with people selling off before the Obama capital gains taxes hit. Thanks, Barry!

  6. SondraK, Queen of my domain
    Posted November 12, 2012 at 7:43 am |

    Happy daze are here again have been here all along!

  7. DougM (Well, thaaat sucked!)
    Posted November 12, 2012 at 7:58 am |

    The addiction is real.
    Not all businessmen are free-market capitalists, most are opportunists.
    If money comes via gov’t, then that’s where they’ll go to get it.
    (see also: Willie Sutton’s “Because that’s where the money is.”)

  8. Freddie Sykes
    Posted November 12, 2012 at 9:07 am |

    Tax the wealthy, my arse. People are not wealthy because of wages and Obama wants to tax wages. Businesses pay high wages because they think that those employees will make even more money for them – we are not talking cronies here. So Obama’s plan is to tax the most productive people and small business owners.

    That is just so crazy that it just might will not work.

    You want to go after the wealthy paying 15% taxes like Warren Buffet, John Kerry or John Edwards? Tax dividends as ordinary income and make dividends deductibles to companies. Under the 2012 rates, a married couple would have to make $70k taxable income ( about $90k gross ) before paying more than 15% on dividends. I am guessing companies would pay higher dividend rates if they were tax deductible and might even distribute some of the money parked overseas to their shareholders.

  9. Fat Baxter
    Posted November 12, 2012 at 10:09 am |

    There has already been talk about how to go about grabbing the money from private 401k funds

    Yep. Replace the funds with government-backed IOUs. I heard some European countries have already done this. That’s where they got the idea.

    So, if Wall street is going gangbusters, how come my savings account gets only 0.85% interest?

  10. Freddie Sykes
    Posted November 12, 2012 at 10:52 am |

    Fat (9), Argentina did it a few years ago but now all that money is gone. The value of one current peso is 10,000,000,000,000 pesos of 1969.

    Socialism would work if we only had more money it could loot.

  11. TomR, armed in Texas
    Posted November 12, 2012 at 10:59 am |

    I am expecting obama to pull an FDR and ban the ownership of gold, maybe silver. That way no one would be saved from the tsunami of inflation ahead.

  12. geezerette
    Posted November 12, 2012 at 11:23 am |

    It doesn’t pay to play — monopoly with the government– they pass go buy up everything and you go to jail.

  13. DougM (Well, thaaat sucked!)
    Posted November 12, 2012 at 2:44 pm |

    It’s not just that they think there’s a lot of tax money available from the wealthy for the legitimate cost of government, they are envious of wealth. They truly believe that the wealthy get rich at the expense of the poor, and they want wealth confiscated. They don’t even care if any poor folks get any of it, as long as the rich don’t have it. Pure theft. Envy. Looting.
    (What? Yeah … also suicide.)