Wall Street continues to ignore bad economic news and the rally based on Republican control of Congress continues.
Wall Street knows that the Republicans will concentrate on creating jobs and returning to a business friendly environment. Republicans do not hate business, capitalism, or America.
Obama will be relegated to working on childhood obesity. Praise Allah.
it seems that each piece of bad news adds to the confidence level. and obummer's interviews sure aren't helping the demons very much. most of the dems are trying to get clinton to campaign for them and not asking obummer.
blah, blah, blah.... The Republicans don't have a clue.. But if investors believe their "return to power" will make any difference - Maybe we'll get a huge rally & I can bail out before the inevitable crash that will ensue as everyone figures out a polarized congress is NOT the solution..
You could argue that a congress at odds with the White House is a good thing. Forces everyone to compromise, eliminates bad ideas from bills. I don't think the vast majority of Americans want a Congress working in lock step with the President to pass bad legislation. The health care bill was an example of a good idea that politicians sc$#wed up.
During the summer of '08, Obama tirelessly campaigned for a bill that cut your health care costs, was portable, didn't force you to quit your current program, had inexpensive features so everyone could afford to purchase, and would cover 94% of the population.
In their haste to ram through a bill, our one party government created a new law that does none of the above. My company's rates, as well as everyone else's, are going up at a double digit rate.
<<< I'm still shocked...when I talk to people who don't even know who their representatives are. >>>
Today people don't have representatives. Only special interests have representatives.
People plug into politics when it directly affects their lives. Noted example is the young generation anti-war political movement during the Viet Nam War. The draft meant I might have to die for my country for a policy I don't believe in. That versus the all volunteer army that someone else can fight and die for their country.
Do you think for one moment that if we had the draft back we would have been fighting in the Middle East eight and one-half years later? Not on your life. Why some Congressman's kid might have to serve in some safe armed forces unit and take time away from his Wall Street career and we couldn't have that, now could we? Oh! I forgot. That happened once already. The kid joined an elite group of jet fighter pilots that before the war was over he ended up being AWOL from.
But I digress. People have enough on their plate keeping food on the table and a roof over their heads to be involved in politics. But once it affects their lives directly they get very concerned.