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Cenk Uygur: Fox analyst suggests tying Obama to the devil; Rove suggests blaming market instability on Obama presidency
Cenk Uygur, former conservative-turned-video blogger, on Fox News analyst Pinkerton's "analysis" of McCain's attack campaign:
Cenk on Rove's suggestion to Fox News:
"Someone's gotta play defense, someone's gotta be the middle linebacker... and you're looking at him."
Godspeed, Cenk. Go get 'em!
Magus what is going on with the markets right now is volatility do in large part to fear.
Markets are usually jumpy during presidential election b/c it is not known how a President's policies will affect the market.
Obama's tax increases (income, corp, cap gains, dividends, etc) would certainly cause 'fear' about the possibility of reduced investments in our markets but more importantly is whether or not he would revise our current monetary policy which is at the very core of the current issues.
We have not heard specifics on that to date.
"The power to tax is the power to destroy" - John Marshall
Market selling right now is fear driven, but DO NOT try to tie the massive selling that is occurring now to the upcoming election just because they coincide temporally.
Correlation does not equal causation.
Every job report, every earnings report, every manufacturing report, oil and energy reports, housing data, inflation figures, GDP numbers - the list goes on indefinitly. The market isn't reacting to national issues anymore - it is reacting to national + international news.
All you seem to do, jill, is talk about taxes and spin Obama's tax plan to make it looks bad. You get rebuked time and again, but start regurgitating your talking points on a new thread.
I am putting my foot down on this one. This financial market turmoil and sharp selling is NOT related to Obama leading in the polls. Why can I say this? Because I have been trading currencies for years and used to work at a hedge fund in Chicago. I communicate with people in the industry, and can say that amongst the juggling act we have to do identifying and predicting economic and global data, your Obama "fear" theories don't hold.
Put your foot down all you want. Did I say Obama was the blame? No I said uncertainty causes fear with Obama leading in the polls and the lack of monetary policy direction he has provided could be a cause. Every election holds uncertainty for the market.
I am still waiting to hear about Obama's monetary policy and exactly how his economic plan will create jobs.
"The power to tax is the power to destroy" - John Marshall
What machocomacho said. The thing is, Karl Rove is insinuating that the prospect of an Obama presidency is causing fear and instability in the market. He's a political strategist, not an economist or even an accountant! Why is Fox asking him to comment on the economy?
----Sticker/sign tally in Orange County, CA:
We were heading into a recession so the thought that a Republican candidate would cut taxes I am sure contributed to that sentiment. Continuing your thought - are the markets not 'happy' with an Obama presidency? After all he leads in most polls.
However how does that compare to today and the items I stated above? Greenspan admits he was wrong in his monetary policy. Bernanke is continuing this - discussing another rate cut. The markets are craving direction and they have none (other than down :( )
Monetary policy has to be addressed.
"The power to tax is the power to destroy" - John Marshall
It must be hard for Rove to come to grip with the fact that he is no longer relevant.
This guy along with Kristol destryed the republican Party.
I will not throw the first punch, but I will certainly throw the last...BHO
That was good, especially the second one.
And I have no doubt that the far-right attack machine (do I have to call them "Republican" any more?) will be in overdrive the next four years.
Personally, as a person with very small investments and a very small retirement account, I'd have a lot more fear if McCain was elected than Obama.
The whole problem with the world is that fools and fanatics are always so certain of themselves, & wiser people so full of doubts.
-- Bertrand Russel
Hasn't Rove melted yet? I thought I saw some ruby slippers and a little dog disappearing around the corner...
"Genius may have its limitations, but stupidity is not thus handicapped." - Elbert Hubbard (R-Iowa 1905-1912)
LOL!
The whole problem with the world is that fools and fanatics are always so certain of themselves, & wiser people so full of doubts.
-- Bertrand Russel