"President Obama; that's why people aren't buying stocks," says Todd Schoenberger, managing principal at The BlackBay Group.
With stocks down 5% since the votes were tallied it's hard to argue that something in the results spooked investors. The question is what it was, since most of the results were exactly as expected.
Schoenberger rattles off four specific reasons why traders aren't buying stocks. The claims are his own but there's nothing in his list you won't hear on any trading floor over the last week:
1. Companies aren't going to hire with the increased expenses associated with Obamacare
2. People aren't going to have money for discretionary spending when taxes going up for the 1%
3. Small business owners won't expand
4. Higher tax rates for individuals making over $250,000 a year will result in a general lack of ambition.
"There's no reason right now to work hard and actually do something with your life, to actually become a huge success," Schoenberger wails, "because, if you are, you're the villain and villains are meant for Batman and Spiderman movies, not for America right now."