Quote Originally Posted by Col Forbin View Post
This can't be serious. How can Obama, who was just elected several weeks ago, who hasn't even taken office yet, or has no executive authority be blamed for this. I can't believe this at all.

I just don't see the logic behind your finger pointing, Geo. I guess Obama being elected is also the direct cause for our current Cheap gas prices. Thank goodness he was elected, I can now afford to go fishing more often.

I am afraid you might HAVE to believe it, cause it is true unfortunately. Bush IS still in office, BUT his policies can be wiped out on Jan 21st with a simple executive order (which Obama has said MANY times he plans to use extensively immediately after taking office to "change things"). Anything Bush does will only be good for 2 months, until the new "boss" takes over, so the market will NOT react to his actions at this point.

I am not going to get into a debate on politics, even though I could quote fact after fact to support anything I might say, because it is a "personal" issue that I find to get to personal when discussed. I will point out the thing that MOST people have overlooked in Obama's comments on "not raising taxes", as it pertains to the Capital Gains Tax. Just for creditability reasons, I am a licensed Stock Broker with my Series 7, 63, 65. Anyway, Obama can keep his word on "not raising the tax" by simply letting the 10% capital gains tax rule expire and then have things revert back to the pre 10% way. This WILL raise taxes on cap gains, but will NOT require him to do ANYTHING to make it so. The old cap gains tax was high and was VERY harmful to "older" investors who want/need to use their investments for living expenses.

No matter which side of the fence you are on in politics, you HAVE to be able to see the facts of what has occurred since the election. If you liked the Clinton years, then this will be a nice time for you coming up (look at the appointments). If you did not like them, well then, you up a creek...

Rob

PS. To the gentlemen with the retirement plan question, if you have TIME to recover from the recent downturn in the market (which I believe you said you did) just keep investing MORE NOW than ever. Think of it like this, if you thought a company's stock was a good buy at $30/share (assuming you did your due diligence and looked at the financials), it is REALLY A GOOD BUY at $15/share ehh?? Plus if originally bought 100 shares of it for $3K, and not buy another 100 for $1.5K then you have a total of $4.5 into your 200 shares. In short, you only need the "company" to get back up to $22.5/share to break break even, and anything above that you are MAKING A PROFIT. Take care and good luck.