Obama’s Stock Market

Obama’s Stock Market

Remember all the horrifying predictions about what would happen if Obama became president? Millions more will lose their jobs! Runaway inflation will destroy your savings, and gasoline would hit $7 a gallon – or more! And the stock market would surely crash!  Obama, (and Obamacare) they said with certainty, is anti-business and the whole economy will tank.

You don’t remember? Well, I do, because those predictions were made daily and vociferously during the 2008 and then again for the 2012 re-election campaigns. Perhaps you don’t recall them because not one of them came true, causing the GOP soothsayers to now “forget” their own words.

This NY Times article focuses on just one aspect of Obama’s success, the U.S. stock market.

“The facts are inescapable: The Obama years have been among the best of times to be a stock investor, going all the way back to the dawn of the 20th century.

“Consider that had you been prescient enough to buy shares of a low-cost stock index fund on Mr. Obama’s first inauguration day, on Jan. 20, 2009, you would now have tripled your money. Stock market performance of this level has rarely been surpassed.”

Indeed. The facts are inescapable. You could have tripled your money!

I’m well aware that a president has limited impact on the economy in general, and the stock market in particular. Nonetheless, the scare tactics of the past have been proven wrong. Again.  Keep that in mind for the coming election.

Thanks for caring about the truth.


Donnie’s Hidden Tax Returns

There are four possible reasons why Donald Trump refuses to do what every other presidential candidate in 40 years has done – release his tax returns.

1 – He earns far less than he wants us to believe. While a couple of years’ worth of tax returns do not by themselves show his net worth, they are decent indicators of the state of his financial affairs.

2 – He gives a ridiculously low amount to charity. We’ve seen the games he’s played with donations to Veterans. Despite a few well-publicized gifts over the years, there are many reasons to believe he’s a tightwad when it comes to sharing his wealth.

3 – The returns reveal embarrassing entanglements with sleazy domestic firms, or worse, with nefarious foreign firms or nations. The rumors are starting to fly, and the evidence is mounting, but since I pride myself on only posting verified information, I’ll say no more. For now.

4 – He pays little or no taxes. Which means, as Elizabeth Warren has said so well in this video, that you have been subsidizing his businesses.

So which of these is the most likely reason for Trump’s stonewalling? My guess is that it’s all four. Seriously.  I am in the financial business, I devour news from many sources, and from my perspective the signs are all there that releasing his returns would be devastating.

His explanation that he is being audited and therefore cannot release them, by the way, has been debunked by every expert.

The Clintons, in case you’re curious, have been paying some serious taxes; close to $10 million on their most recent return, for a tax rate near 35.7% of AGI.

So come on Donnie. Prove me wrong. Put up or shut up.

Thanks for caring about the truth.


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