More was said about the impact that Obama is having on Wall Street as well as the idea that he doesn’t realize how people on Main Street USA have lost their savings because of the free fall of Wall Street.
I keep wondering if Obama is intentionally trying to hurt the economy so that more people will need the government. Alas, I am beginning to believe that he really doesn’t understand economics and business. Even me who hated every single economic class I took understands it more than the man who is the leader of the United States it appears.
Now, his answer to this is for us to buy more stock.
Obama wants us to buy buy buy
Umm, if I thought the market was going to turn around I might begin to invest in my IRA again, but until it hits bottom I am staying away, thank you very much. Untill Obama learns that his daily televised speeches are impacting Wall Street more than anything else, I am staying clear of any type of investment. I am beginning to stock up on glass jars because I think I should bury my savings in my backyard. (Note that this is a joke, I don’t have a backyard.)
Also, if we make profits in the market won’t we have to pay more taxes on the profits. This is one speculated reason why the market is going down, people are taking the loss so they won’t have to pay taxes in the future.