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Politics : PRESIDENT GEORGE W. BUSH
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To: $Mogul who wrote (60250)11/6/2000 1:49:57 AM
From: Dave Gore  Read Replies (2) of 769670
 
A Bush Victory = Bad News for the Markets. Here's Why.

I agree with you, Mogul. While I am not saying that the determining factor of who anyone should vote for should be how well the stock market does, it's important to at least set the record straight.

So leaving my personal thoughts aside (especially regarding the environment and the possible imposition of arch conservative values affecting such things as a woman's right to choose), most feel that a Bush victory will NOT be good for the Market, at least in the intermediate to long term.

Why?

His proposed tax cuts (almost 50% of which would go to rich, the high rollers on Wall Street) worry the Fed. They are concerned that the cuts will "heat up" the economy and that further tightening would be necessary.

Gore proposes cuts, too, but they are more conservative and would go mostly to the middle class that would not cause the economic firestorm. Right now, the Feds have a nice handle on things that Bush's policies would likely upset.

Other things to ponder:

1) The markets do not traditionally like the President and the Congress to be of the same party. With Bush winning that could very well happen.

2) the markets have done better with a democratic President in the White House. Its' true.
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