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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: John Chen who wrote (609229)	8/24/2004 1:05:40 AM
From: jim-thompson	Respond to of 769670

August 23, 2004 The truth about Wall Street's malaise... the Kerry bear market...and the growing gap between investing's haves & have-nots Dear Investor, "Is John Kerry shorting stocks?" That's what I got asked at a dinner party the other night. I think the guy was being, somewhat, facetious. But I could tell by the expression on his face, he's not one bit amused by the prospects of a Kerry presidency. About John Dessauer John Dessauer is Editor of Investor's World, America's top globally-oriented investment advisory for the last 22+ years. In that time, Dessauer's low-risk portfolio has increased subscribers' wealth 1021%, growing a $150,000 investment into over 1,600,000 in that time, as verified by independent sources. Mr. Dessauer has also authored two highly acclaimed investing books; speaks at investment conferences around the world; and has made regular appearances on television and in the pages of the world's most-respected financial journals. And personal political leanings aside, he's not the only one. In fact, Wall Street's big money is practically catatonic at the thought of what might happen come November. You well know, the market has been rather lousy of late. Folks blame the ongoing war in Iraq...rising interest rates...inflation worries...terror fears...and a host of other troubles. But frankly, most of that was already priced into the market weeks and months ago. And nobody knows how to calculate the impact of a terrorist attack until, or if, it happens. The real worry -- the one that has caused the market to drift lower on low volume this summer -- is the realization that we might just see... John Kerry in the White House It's not that the guys who move big money all love George Bush. They don't -- honestly. They just get a little paranoid when a Dem with a real shot at winning starts talking about "taking from the rich and giving to the poor." The whole Robin Hood angle doesn't play very well on Wall Street. After all, look at some of Kerry's promises to the middles class... ...health coverage for some 30 million uninsured Americans. ...tax credits to cover the full ride at state colleges. ..."full funding" for the No Child Left Behind Act; and more. That's a $650 BILLION health care plan and $300 BILLION in education funding to start. All aimed at ending what he calls the "middle class squeeze." How can anyone quarrel with educating little Suzy and paying for Cousin Mike's hernia operation, right? But where's the money coming from? Yup, that's right. More taxes on the rich...a rollback of the dividend tax relief...higher capital gains taxes. Now I don't know where you fall on the political spectrum, and I don't care. This isn't a political message, it's purely an investment analysis, based on over 30 years experience in the business. Wall Street doesn't like that platform one bit John Kerry, as you might imagine, claims these tax increases on "the rich" can save the middle class and cut the federal deficit in half within four years. "I have a delightful problem. Since 1/1/03 my portfolio (almost exclusively in John's stocks) has seen gains approaching $500,000." -- Skip, Monarch Beach, CA But the early take from economists paint a much different picture. An economy hurt by higher tax rates...a deficit-busting plan that is all smoke-and-mirrors long-term...and higher interest rates that really take a bite out of growth as we approach the next decade. And that is why the big money is spooked right now. Some are already talking about the "Kerry bear market."