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IBM announced 10,000 jobs to be outsourced before 2009. Obama's promised tax increases sure didn't make them want to keep jobs here (why would they? too expensive).
European stocks retreated for the first time in seven days after disappointing earnings overshadowed speculation that Barack Obama will boost the U.S. economy with a stimulus package.
Here we go. We are starting with that "change" Obama talked about. And it's not necessarily good change.
My stocks used to be worth dollars.
Now they're worth change.
I hope they regain some of their value.
Obama's lead in the polls corresponded to the drop in the market. It was a signal that his economic plans are not going to be good for stocks. Now that he has been elected, we're going to see more sell-offs.
Good thing I'm in this for the long run and I can afford to ride out this administration. I feel bad for anyone retiring in the next 4-8 years. The Obama presidency is going to delay recovery.
Historically, the market rises after the election of a Dem.
Yep. And any investor looking to make money under Obama will move into municipal bonds, steel, and alternative energy. Drug companies, telecoms, and financials should expect continued losses. That's not Obama's fault really, but more reliant on a Congress willing to pass more and more regulation. Investors don't really like regulation.
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