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Message: US ELECTIONS/VALUE OF US DOLLAR/POG

Re: US ELECTIONS/VALUE OF US DOLLAR/POG

posted on Oct 14, 2008 07:51AM

So many people think that Obama is going to be bad for the market, bad for investors, bad for the dollar. Hogwash.

McCain is promising just as much of a spending spree but he's also promising to cut taxes at the high end, which I think will only serve to create a greater deficit.

This is regardless of which of the two have a better plan. I just don't think either will have a different impact on the dollar. McCain may have a worse impact. There seems to be some myth that Democrats are worse for investors and the economy but looking back over the stock market and the presidents in power, it really doesn't seem to make a difference. The 3 worst crashes in the stock market have all been during the tenure of Republican Presidents as far as I can tell. The 3 worst recessions have also been during the tenure of republican presidents and the biggest booms seem to have occured during the tenure of Democrats.

Bush, being a republican, should have been good for the dollar, kept spending in check and good for the markets, however he has killed the dollar, ballooned the debt and destroyed the markets. So go figure.

Personally, I think neither Obama or McCain will make a bit of difference to the dollar. It's not going to do well with the kind of debt either will be incurring. We're going to see interest payments on the debt that would one day have been considered massive if they were the total debt. I mean, it wasn't long ago that the debt went above 1 Trillion. Next years deficit alone will top that and the year after will likely be worse.

The US needs to rid themselves of their parties. The Republicans and Democrats have become like waring, petty parents caught up in a bitter domestic dispute. They treat the nation like children tossing out populist campaign fodder like candy to win the kids to their side of the battle. The only hope for the US is for a third party, on the lines of Ron Paul's ideology to step forth and change the arena.

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