John Re...Going forward, we should keep an eye on the market as the ultimate sentiment poll for the Presidential election, and it will certainly be an interesting exercise to see how opinion polls change as the market changes.
Interesting indeed. Especially, after the jobs report, which was far weaker than expected. However, that said, I don't think the public will respond positively to Kerry's message, of increasing taxes on the rich either, until the jobs situation is firmed up. A lot of times it is safer to go with what you know has worked in the past, tax cuts, than go after the rich, as you don't know exactly how the rich will respond. If they pull their money out of the US: and invest it in friendlier countries, before the treasury dept, can grab it, then everybody will lose, not just the rich. |
