The majority of financial advisers have little faith in President-elect Barack Obama’s ability to put the nation back on sound economic footing.
An exclusive InvestmentNews survey of 968 advisers last week found that 61% lacked confidence in the new commander-in-chief’s ability to resolve the country’s economic woes.
After last Tuesday’s historic vote in which Mr. Obama was elected the nation’s first black president, advisers across the country began considering ways to protect client assets from changes that could go into effect under the incoming new Democratic-controlled government.
That’s not encouraging. Investment advisors are already advising their clients on ways to protect their assets from the President and his Economic Geniuses?
…and it might be too late to escape? (emphasis mine)
“Very possibly, we’ll be looking at a retroactive tax increase for upper-income people to Jan. 1, 2009,” Federal Policy Group managing director Ken Kies told more than 1,000 advisers who participated in InvestmentNews’ post-election webcast last Wednesday.
“the tax increase will be significant, and it’s going to be a lot more than anything he campaigned on.”
Before you dismiss this because you don’t count yourself among upper-income earners, remember, Obama’s standard for this distinction has and could fall further.
What, no confidence? Why would that be? Simply because the”change” he has proposed has been tried before, in this country & others, & has failed miserably every time?
Really? Where’s the “hope” in that?
These people are clearly racist homophobe pigs…
Oh, and un-patriotic too. Like Genius Joe says “time to pay your fair share, time to be patriotic!”
People like these un-patriotic, ignorant, racist, homophobes clearly are uneducated & need to be moved to a special place, maybe a sort of camp where they can be educated… again.
I guess we have the clear reason as to why the Dow has dropped 1220 points since last Tuesday.
I’m surprised that only 61% doubt Obama’s credibility here, to be honest. For that matter, as “manage the economy” doesn’t seem to be listed in Article 1, I’m kinda of the opinion that the percentage of people who know Obama can’t manage the economy well ought to be 100%.
That would require a populace be knowledgeable in basic economics & the Constitution. Two things that are not emphasized in our public high schools.
Our new President & VP are either ignorant of both subjects, or are purposely deluding themselves & the people as to the meaning & intent of the subjects & their significance.
Probably the former.
The head of the GOP ticket seemed ignorant of the basics economics & the Constitution as well.
Lean times for conservatives, indeed. But when have been better? For a few months after the ’94 elections?
How much of W’s agenda did conservatives agree with? Or GHW’s? Or McCain’s? Or even Reagan’s?
If you look at a graph of government spending over time I would challenge anyone to pick out where the republicans ruled with the presidency, one or both houses of congress, or not at all.
Oh, agreed!
As I stated elsewhere, Bush/McCain policies were no different than that of leftist interventionists in practice or direction, only in emphasis.
However, that emphasis can mean the difference between a stalled economy & one in a flat spin. Although in the last few months, Bush has been doing his part to agitate the stall & send it into the uncoordinated spin prior to the changing of the gaurd.
Reagan represented a good starting point; one which was blown by his successors. We’ve been on this road of a Servile State for over 70 years. During that time, Republicans have become nearly as statist as the Democrats. So even when the Republicans held the majority in the house & senate, there was still a majority of statists.
This is why the Republican party needs to clean house & purge the statist Republicans, so we can offer true change and a real new direction.
I want no more candidates — of either party — who are more comfortable in the company of Mexican hidalgos & Saudi Princes then they are in the company of working Americans.