20121107

Stocks plunge one day after Obama re-election

Stocks plunge one day after Obama re-election. Who cares, right?
Smart people with money know that Barack Obama is serious. Smart people understand leadership and they know that is one characteristic Obama does not have. They know that a leftist ideologue is mire focused on seizing wealth than solving problems. They see problems ahead.

Eventually, free markets will find a way around the mess, at least we hope. There will be a correction as people with money try to re-position their property and put it out of reach of an insatiable government. I don't blame them.

The Obama economy will continue for a while. The Fed (Federal Reserve) has been propping up our sick economy, a fact about which most voters are completely ignorant or indifferent. "Obama saved us from Bush...braaaaaains...tax the rich...braaaaaains...fair share....braaaaaains" 

One market professional lays the truth bare. From CNBC (QE is quantitative easing aka funny money):
"QE half-trillion a year is not sustainable" and "Obama is going to raise revenue and cut entitlements. The combination of the two cannot be good for the economy."
Remember the words of the great Thomas Sowell: "You can only confiscate the wealth that exists at a given moment."

Even more basic truths: Nothing in life is free. If it sounds too good to be true, it probably is.