I agree. The panic lasted a couple of days and the trading has got somewhat back to normal. However, I really thought it would drop more and had put in orders at a lower price. We’ll see what happens in a week or two. If it drops more, I’ll load-up. If it don’t, I’m Ok too since I didn’t buy into the fear factor. My next concern is what are these nuts in Washington going to do with the dividends rates for next year? Since many of them are getting rich of the 15 percent tax rate (not that they have any inside information or anything like that) I’m betting on them keep it the same. Your thoughts?
Right now the talk is about a chance of avoiding a recession which is the new low expectations standard of this neocommie administration along with a 7+ percent unemployment rate being something to point to as a good thing... like a diagnosis of gangrene of the keester is positive news cuz at least it ain't leprosy, so let's all stand up an' cheer for the guy who killed bin laden from the golf course.
The bat eared scarecrow in chief at this point would like to retain his cred with the redistributionist free lunch class warfare crowd so is likely to be stubborn on the issue of increasing tax rates. And in the new topsy turvy paradigm where anyone of the 52% of us who actually pays em must be by definition rich, he'll wanna raise taxes on those folks while at the same time not wanting to appear to break his promise not to increase taxes on anyone making less than 250K. So if there is a compromise to be reached it will of course be on his terms with no real real regard for tax payers who are after all, not representative of his constituency.
Best we can hope for then is another one year freeze on current rates (with some elimination of deductions maybe on higher level earners) or until some tangible evidence exists of a turn in the business cycle that the neocommies can take credit for.