According to market analysts, the markets are getting worse as Sen. Barack Obama’s lead widens in the polls.
Most investors know the devil is in the details – and the details of Obama’s economic plans are anything but reassuring.
The country is headed for recession; the only question is: Just how low can the markets and economy go?
It could be a lot lower – it all depends on the policies of the next president.
And, as it looks increasingly likely that Obama will be that man, the markets are casting a vote of “no confidence.”
At least one top Wall Street executive, an Obama supporter from the start of his campaign, has recently urged Obama to rethink his tax plan – and that was before last week’s record losses on the Dow.
But if Obama is rethinking [his tax plan], he’s not saying. As his running mate, Joe Biden tells us that it’s patriotic to pay higher taxes, Obama remains committed to squeezing businesses even if the recession grows. (Source)