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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: pater tenebrarum who wrote (47646)12/14/2000 1:44:12 PM
From: UnBelievable  Read Replies (2) of 436258
 
I Think The Pimps Had It Wrong And The Market Has It Right

The pre-election conventional wisdom was the Busch would be good for business and Gore would be bad.

From a government interference perspective that may be correct but not from the stock market perspective.

The fact is that Busch is first and foremost the president of the wealthy. And not the inuts billionaires but traditional old money.

The effect of reducing interest rates, devaluing the currency, accepting greater rather than lesser inflation, is a net transfer of wealth from the lender to the borrower, from the wealthy to the poor.

The real development of the bubble took place in the Clinton administration. Al Gore, if anything, was perceived as the champion of the poor. His continuing campaign promise to help working Americans who need the help (i.e. those making $20,000 to $50,000) per year was one of the things that probably cost him the election.

George Busch clearly places a greater priority on preserving the wealth of the wealthy than Gore would have.
The most significant way in which this is done is by keeping inflation low, the dollar strong, and therefore the money supply under control.

I think that while Busch may be better for business that does not mean he will be better for the stock market.

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