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EMC Corporation Message Board

  • bobbobwhite bobbobwhite Dec 15, 2000 12:12 PM Flag

    Sure glad Bush won,

    as I sure am richer since, aren't you? I don't
    know how I'll spend all the money I've made in the big
    up market since Bush won. Shows who has the real
    power.... the money men, not the government. Been that way
    since the dawn of man. Will never change.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Look guys, it's very simple:
      - Bush promised
      to make massive tax cuts
      - Gore promised to
      aggressively pay down federal debt

      With Bush's plan,
      the effect on the economy is negligable, as the vast
      majority of people - including the economically
      all-important middle classes - would see little positive impact
      on their finances. Reagan tried the same thing and
      its primary result was a huge increase in the
      national debt.

      With Gore's plan, the net effect of
      paying off the federal debt is to reduce interest rates,
      including mortgage rates, thus spurring the economy by
      reducing the cost of capital and also putting
      substantially more money in the pockets of middle class
      homeowners.

      From an economic standpoint, Gore's plan is smart and
      Bush's is stupid. This is true even if you are a
      billionaire, as a rising economy helps billionaires more than
      tax cuts does. (But most voters don't have any
      comprehension of macro-economics, so they bought the tax cut
      bait)

      Thus the lack of positive response from Wall St. to
      Bush being confirmed as president-elect. Gore would
      have been better for the economy in general, and the
      stock market and bond markets in particular.

      If
      you want to capitlaize on the Bush-Cheney presidency,
      look to natural resource companies, as they are likely
      to benefit from very favorable treatment from these
      two oilmen.

      (In a sense Nader hurt both the
      economy and the environment profoundly. The best laid
      plans o' mice and men gang aft agley ...)

      NWP

      • 4 Replies to nowhiningplease
      • Your analysis is flawed. If you think that Wall
        street preferred Gore's economic plan and that anyone
        truly believed Gore was going to be fiscally reponsible
        you are gullible. (He did by the way say he would cut
        taxes too). The Wall street general opinion was that
        instead of larger tax cuts Gore was simply going to spend
        the surplus. Even Greenspan has said that Tax cuts
        were preferrable to increasing spending.
        As for the
        Reagan tax cuts, they did negatively impact the national
        debt but they did also result in jump starting what
        was a dieing economy he inherited from Jimmy
        "economic malaise" Carter.
        Bottom line for the market,
        to somewhat quote James Carville: "It's the earnings
        stupid"

      • When has a Democrat ever reduced spending, which
        is what the effect of debt pay-down would be---which
        I support. Dems have traditionally resisted tax
        reductions or any kind of give-back to taxpayers. Dems have
        historically raised taxes to fund spending programs. Reducing
        the debt and lowering taxes could both be achieved
        with a compromise---providing there is an actual
        surplus. Gore promised debt reduction, but politicians,
        including Republicans at times, are famous for making
        unkept promises. Reagan was stiffed by Tip O'neil and a
        Democratic Congress, who vetoed his entitlement program
        spending reductions, while allowing military spending, to
        rebuild after the Carter years of run-down re the
        military.
        I agree with your premises re pay-down of federal
        debt..but the Bush-Gore debate is academic now...

      • an America will win because he did. As to market
        today we will see some selling as margin calls will
        kick in also. Would gladly lose the short lost money
        wise to see better they Gore in office. Market will
        regain base and move up and so will America as a whole.
        When Gates starts to hurt then I will know we are
        really in a bear market. EMC still up good, and will go
        back to better numbers soon. With gore the bore we
        would be in free fall not only in market but vaules
        accross the board in everyday life.

    • Anyone who thought the choice of president would
      make a difference for the market was incredibly naive.
      It was that kind of ignorance that drove the bubbles
      in fiber optics and storage companies. Ignorance
      becomes pain in a bear market.

 
EMC
29.125-0.175(-0.60%)10:04 AMEDT

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