[ May 6, 2024 ]
Increased regulation and higher taxes would devastate the American economy.
Wall Street Quietly Begins Warning About A Biden Presidency
By: Sergei Klebnikov, Forbes, June 29, 2020:
With Joe Biden surging in the polls, Wall Street executives are preparing for a potential scenario where he becomes president—with some firms warning clients the stock market could take a hit.
Story continues below advertisementPresidential Candidate Joe Biden Speaks In Lancaster On Health Care
KEY FACTS
The former vice president has a 10-point advantage over the president, according to a RealClearPolitics’ average of national polls and opened up commanding leads in swing states like Wisconsin, Pennsylvania, Florida and Michigan.
Biden even topped Trump in fundraising last month, while Trump’s approval ratings—amid the economic fallout from the coronavirus pandemic—have plunged to 39%, near the lowest levels of his presidency, according to Gallup.
The main concern for Wall Street if Trump doesn’t win reelection is the likelihood of higher corporate taxes: In December 2019, Biden pledged to roll back Trump’s signature tax cut legislation, which massively boosted corporate profits.
While often expressing more moderate views in public, many wealthy executives and investors privately supported Trump for his tax cuts and deregulation efforts; As some now prepare for a Biden presidency, it’s a noticeable change of tone for Wall Street.
Much of the election’s impact on the stock market will depend on whether the Republicans retain control of the Senate—as Democrats would then be less likely to enact major economic changes.
Some finance executives and analysts are warning that if the Democrats sweep the White House and the Senate in November, increased regulation and higher taxes would be bad for businesses and could negatively impact the stock market.
[….]“A Republican sweep would be viewed as more likely to continue on current tax policy and deficit spending trends,” Morgan Stanley analysts said in a recent note. Major firms like Goldman Sachs have similarly cautioned that a Democratic sweep poses risks to profitability and dividends, which would lead to decline in the S&P 500’s earnings per share for 2021. Others, like Credit Suisse, believe that though a higher tax rate would be a headwind for the market, other Democratic policies would likely “remain supportive for the economy.”
Surprising factsThe stock market typically performs better when an incumbent is reelected, while it usually underperforms when the White House flips from Republican to Democrat, according to data from Bank of America. According to a recent RBC Capital Markets survey, the majority of the firm’s clients still believe that Trump’s reelection is a positive for the market, with 60% saying that a Biden presidency would negatively impact stocks……..
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16 Comments
3 years ago
Commies don’t care about the stock market. They’d prefer not to have one at all and if they get in power there won’t be one.
3 years ago
Reply to
L-Dan
Oh BooHoo: Two Of USA’s Largest Newspaper Chains Teetering From Covid-19
https://www.niemanlab.org/2020/06/newsonomics-the-next-48-hours-could-determine-the-fate-of-two-of-americas-largest-newspaper-chains/?utm_source=whatfinger
“The months of COVID-19 shutdown have only deepened the business issues afflicting the daily newspaper business. Plans that felt like climbable mountains in December now look positively Himalayan. Everyone’s forecasts and valuations have gotten big haircuts.”
3 years ago
Biden is going down the Marxist road and may not even realize it.
3 years ago
Reply to
felix1999
Meanwhile, USA Economy Jumps Up From COVID-19 Trough…Pending Home Sales Off The Charts
https://creativedestructionmedia.com/news/markets/2020/06/29/economic-data-shows-explosive-growth-off-covid-19-lockdown-bottom-pending-home-sales-off-the-charts/
“Economic indicators released [yesterday] morning continue to show a recovering American economy, no matter what the Leftist business media wants to tell you. Pending home sales blew away the estimates, showing robust demand for homes with record low interest rates spurring transactions.
‘This has been a spectacular recovery for contract signings, and goes to show the resiliency of American consumers and their evergreen desire for home ownership,’ said housing economist Lawrence Yun. ‘This bounce back also speaks to how the housing sector could lead the way for a broader economic recovery.’”
3 years ago
Any vote for a democrat is a vote to bring America under islamic, sharia slavery!
We will have more moslems infiltrating the government.
We will have massive voter fraud to contend with.
3 years ago
Reply to
jerrys
Any vote for a Democrat is a vote against America’s best interest, that’s for sure.
3 years ago
Basement Biden hiding, cause his brain is atrophying.
3 years ago
Jo the deceived Marxist puppet.
3 years ago
Remember that poverty is a marxist’s best friend; better keep citizens cashing welfare checks than work at, for example, Amazon in Long Island City.
3 years ago
It will be a lot more than new taxes and regulation. He will destroy the energy industry if he does what he wants (actually, it isn’t what he wants, it’s the puppet masters). I should have gotten out of the market a couple weeks ago with a 10% profit. I may still get out. If he is elected it will be a total disaster. I still find it hard to believe he is leading Trump.
3 years ago
Geniuses of Wall Street. It took them this long to figure it out???
3 years ago
Biden only has the advantage of the media. He is not ahead of Trump. Fox reported the largest number of viewers in their history for a Saturday night for their coverage of the recent trump Rally. Trump is also taking in record donations. Don’t be fooled by the lying media. The polls are 100% fabricated. People are not going to vote for a party that calls the fourth of July celebrations racist and Mount Rushmore a symbol of white supremacy. People are not going to vote for a party that endorses the BLM (Black Looters Matter). * * * Trump 2020 * * *
3 years ago
No wonder black folks think whites are stupid. Look at him.
3 years ago
Quid Pro Quo Biden should be in prison, not running for President.
https://amac.us/quid-pro-quo-joe-biden-could-be-in-trouble/
It is well known now that while Biden was V.P., he strong-armed the then Ukrainian President to fire the prosecutor who was investigating his son within six hours or he wouldn’t get the billion dollars he was promised, “Son of a bitch, he was fired” Biden related recently to reporters and guests recently at a Council of Foreign Relations gathering. Biden’s son was sitting on the board of Burisma Holdings which is an oil and gas company in Ukraine and getting $85,000 a month even though he had no experience in gas, oil or energy. He was obviously there to sell influence and admitted to an ABC reporter that he had no experience and was probably there because he was Joe Biden’s son. The media from CNN’s Anderson Cooper to the anchors on MSNBC immediately jumped to Biden’s defense and called the claim “unsubstantial.” Unsubstantial ??? We have Biden, on video, stating what he did.
Now Fox News’ legal analyst Greg Jarrett has uncovered four federal laws Biden has broken that could land him in serious trouble.
1)Foreign Corrupt Practices Act (15USC78dd-1)
It is illegal for a U.S. person to coerce or influence through bribery, extort a foreign into taking action that might financially benefit that person, his family or business.
2) Bribery (18USC201b)
Whoever corruptly gives, offers or promises anything of value to a public official to influence that public official is guilty of bribery.
3) Gratuities Act (180SC201)
Giving, offering, or promising anything of value to a public official in exchange for any official act is a violation of the gratuities act.
4) Hobbs Act-Extortion (18USC 1951)
A threat to a foreign official in order to obtain an official benefit affecting interstate or foreign commerce would constitute extortion under the Hobbs act.
>>>>> These are all facts about real crimes that happened!
Soooo, WTF is wrong with the Justice Department??
3 years ago
Reply to
CharlieSeattle
Ask that about A.G. Barr too….
We get to read about the evidence but nothing happens.
Swamp corruption. They seem to cover for one another….
What else could it be?
3 years ago
cant imagine a scenario of the US having a brain dead president. damn
