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Thread: Dow Jones Industrial Average Jumps 308 Points After Fiscal Cliff Deal

  1. #11
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    Re: Market Votes For The Tax Hikes on the Rich -- DOW rises over 300

    I read this earlier and chuckled thinking on a couple of forums this included some were saying the market is going to crash because of the cliff deal...interesting.

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    Re: Market Votes For The Tax Hikes on the Rich -- DOW rises over 300

    Here's an example.

    http://www.debatepolitics.com/2012-u...n-related.html

    Conservative stock market advice is about as accurate as Fox News polls.

    or this:

    Quote Originally Posted by Fischer
    I have been pointing out that would happen in effect if a lot of people had their way to soak it to the rich anyway because the high dollar competition for a fixed number of profitable stocks is what drives up the value for everyday people's 401K's beyond what earnings alone justify. It deflates the stock prices. Taxing them will have the same effect.
    Last edited by head of joaquin; 01-02-13 at 11:27 PM.

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    Re: Dow Jones Industrial Average Jumps 308 Points After Fiscal Cliff Deal

    Quote Originally Posted by head of joaquin View Post
    Nothing like the stock market to clarify what people really think about economic policy. The tax increase on the wealthy, along with continued lower taxes on working Americans resulted in a huge 300 point gain today.

    Meanwhile conservatism and its debt and anti-tax fetishes seem increasingly irrelevant to US politics.

    Get all the good news here:

    Dow Jones Industrial Average Jumps 308 Points After Fiscal Cliff Deal
    You might want to consider that individual investors that left the market largely have not returned and these are fund investments looking for Christmas bumps. But when it drops Friday or Monday you can always blame worries about Europe or the GOP refusal to raise the debt ceiling in 2 months.

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    Re: Dow Jones Industrial Average Jumps 308 Points After Fiscal Cliff Deal

    Quote Originally Posted by head of joaquin View Post
    Nothing like the stock market to clarify what people really think about economic policy. The tax increase on the wealthy, along with continued lower taxes on working Americans resulted in a huge 300 point gain today.

    Meanwhile conservatism and its debt and anti-tax fetishes seem increasingly irrelevant to US politics.

    Get all the good news here:

    Dow Jones Industrial Average Jumps 308 Points After Fiscal Cliff Deal
    Prepare for the sell-off.

    It's all insider trading anyways.
    Quote Originally Posted by Moderate Right View Post
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    Re: Market Votes For The Tax Hikes on the Rich -- DOW rises over 300

    Quote Originally Posted by head of joaquin View Post
    Even Wall Street realizes that the rich need to pay more and that the tea party's insane plan to cut expenditures would hurt the economy.

    How do we know that: THE DOW WENT UP 300 POINTS BECAUSE OF OBAMA'S VICTORY OVER THE GOP ON THE FISCAL CLIFF.
    Obama victory? Hardly. All everybody did was kick the can down the road for 2 months. The sequester is still pending if the cuts are not made. And what is controlling the stock market right now? Foreign investment. They were nervous before this temporary deal was reached. They are going to be nervous again as March approaches, and the market will once again reflect that nervousness.

    OK, so now we have something in the way of revenue. But cuts still need to be addressed. Cuts may have been left on the table, but they are still going to have to be dealt with. If not done properly, we will be back to where we started, and the crap will hit the proverbial fan again. But there is an even bigger problem looming. The US ran out of money on January 1st. By doing some creative accounting, the government can be funded until March. If the debt ceiling is not dealt with by then, the so-called fiscal cliff will be small potatoes, compared to what will happen then.
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    Re: Market Votes For The Tax Hikes on the Rich -- DOW rises over 300

    Quote Originally Posted by Mr. Invisible View Post
    ....Why would Wall Street wants more taxes on the rich when many people on Wall St would be the very ones to pay those taxes?


    Ben Stein isn't exactly "Wall Street" but he clearly says something like "I do not want my children/my wonderful granddaughter to be facing a bankrupt America"
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    Re: Market Votes For The Tax Hikes on the Rich -- DOW rises over 300

    The stock market DOES have huge spurts generally when something like this occurs. When QE3 began, the stock market rallied for a few days, then fell and stagnated. A few weeks ago I remember a huge plummet because Bernanke stated there would be no more stimulus beyond QE3, despite QE3 still occurring. QE3 had and continues to have no positive effect on the market because of sound fiscal policy, but only because it was assumed to do so at the time, and any benefit to the long term spending has at this point been lost. Of course, stocks would plummet if it stopped. Not because QE3 is actually helping anything, but because of what will be the assumed consequences.

    What is the logic behind these tax raises helping the economy? There's no possible benefit to them, they're mainly political because Democrats promised to "get" the rich. However, it adverts larger tax hikes, which creates a level of certainty which people will obviously respond positively to. I find it hard to believe that once that euphoria wears off, that the reality that nothing has really been done besides pointless tax hikes on a small enough group that even all their money couldn't possibly help the debt or cure the deficit, the market will begin to stagnate again.

    Quote Originally Posted by danarhea View Post
    Obama victory? Hardly. All everybody did was kick the can down the road for 2 months. The sequester is still pending if the cuts are not made. And what is controlling the stock market right now? Foreign investment. They were nervous before this temporary deal was reached. They are going to be nervous again as March approaches, and the market will once again reflect that nervousness.

    OK, so now we have something in the way of revenue. But cuts still need to be addressed. Cuts may have been left on the table, but they are still going to have to be dealt with. If not done properly, we will be back to where we started, and the crap will hit the proverbial fan again. But there is an even bigger problem looming. The US ran out of money on January 1st. By doing some creative accounting, the government can be funded until March. If the debt ceiling is not dealt with by then, the so-called fiscal cliff will be small potatoes, compared to what will happen then.
    What revenue? Enough to pay for 6 months in ten years? Great. Well need a balance of 20:1 cuts to revenue in order to have a comprehensive plan. Obama has offered 2:1 cuts to revenue. There's no way we'll get the cuts we need, the democrats will never in a million years agree to it.

    This is all assuming that the projected revenue increase is accurate. It's difficult to say how much benefit a tax raise will have until you've actually seen the result, however. I'll give the democrats the benefit of the doubt and say their revenue increases are accurate.
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    Re: Dow Jones Industrial Average Jumps 308 Points After Fiscal Cliff Deal

    Quote Originally Posted by head of joaquin View Post
    Nothing like the stock market to clarify what people really think about economic policy. The tax increase on the wealthy, along with continued lower taxes on working Americans resulted in a huge 300 point gain today.

    Meanwhile conservatism and its debt and anti-tax fetishes seem increasingly irrelevant to US politics.

    Get all the good news here:

    Dow Jones Industrial Average Jumps 308 Points After Fiscal Cliff Deal
    So do you finally admit that the entire false narrative that the "Bush Tax Cuts were only for the Rich" was a lie since most of them were made "permanent"?

    Obamacare taxes are incoming. 7 new ones that will hit people making less than 250K a year. The payroll "tax cut" was a total scam. That's gone. People making 50K will see their taxes increase. This deal will add 4 trillion to the deficit. It's a joke.

    How much are you getting paid to type your propaganda and lies?

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    Re: Market Votes For The Tax Hikes on the Rich -- DOW rises over 300

    Quote Originally Posted by Mr. Invisible View Post
    Wanna answer my question: Why would Wall Street want more taxes on the rich when many people on Wall St would be the very ones to pay those taxes?
    Actually, a pretty large part of the money in wall street is from the middle class. Rich people would have lost a crapload of money had they not been able to sell toxic debt to retirees.

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    Re: Market Votes For The Tax Hikes on the Rich -- DOW rises over 300

    Quote Originally Posted by Utility Man View Post


    Ben Stein isn't exactly "Wall Street" but he clearly says something like "I do not want my children/my wonderful granddaughter to be facing a bankrupt America"
    You know a network sucks when you have to apologize for telling a basic truth.

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