RWNJ Conservative Views from Cincinnati

I might be a bit slower with my postings for a while.  Found out today that I am laid off (sorry to disappoint all my left-leaning readers that thought I was a greedy and filthy rich…  I’m middle class, even well under Obama’s strictest standards, but still dislike wealth redistribution).  I’ll still try to post daily or more, but if I miss from time to time you’ll know why.

Wish me luck on the job search, Ohio isn’t the bastion of job availability and the incoming President’s plans are going to make it even worse.

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Posted under Economy

The trend of election-timed records continue.  As reported earlier, stocks set a record post-election day drop earlier in the week.  Reuters reports that even with the rally on Friday, stocks set a new record for losses for the week after an election.

So far, it seems that Wall Street lacks confidence in an Obama administration.  The fear likely stems from Obama’s promise to raise taxes on those who hire, set salaries, and set pricing for goods and services.  A tax hike on any level is likely to only make the current economy issues even worse.  In fact, Herbert Hoover created the depression with policies such as these.  Time will tell if advisers have any success in persuading Obama to make sound economic decisions.

With even more job losses this week, it is unclear if the economy has hit bottom.  Unfortunately, it can turn into a self-perpetuating situation.  People lose jobs and are unable to spend money with companies.  Companies lose profits and have to let more people go.  It’s a situation that will be a challenge for the new President-elect.

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Posted under Economy

Fordham has provided this list of polls and their accuracy compared to the real election.  As expected, the polls overestimated Democratic support, but only by 1.37 percent.  23 polls overestimated Obama’s strength, only 4 polls overestimated McCain’s.  Rasmussen and Pew got the election spot on!

The List
1(T). Rasmussen (11/1-3)
1(T). Pew (10/29-11/1)
3. YouGov/Polimetrix (10/18-11/1)
4. Harris Interactive (10/20-27)
5. GWU (Lake/Tarrance) (11/2-3)
6(T). Diageo/Hotline (10/31-11/2)
6(T). ARG (10/25-27)
8(T). CNN (10/30-11/1)
8(T). Ipsos/McClatchy (10/30-11/1)
10. DailyKos.com (D)/Research 2000 (11/1-3)
11. AP/Yahoo/KN (10/17-27)
12. Democracy Corps (D) (10/30-11/2)
13. FOX (11/1-2)
14. Economist/YouGov (10/25-27)
15. IBD/TIPP (11/1-3)
16. NBC/WSJ (11/1-2)
17. ABC/Post (10/30-11/2)
18. Marist College (11/3)
19. CBS (10/31-11/2)
20. Gallup (10/31-11/2)
21. Reuters/ C-SPAN/ Zogby (10/31-11/3)
22. CBS/Times (10/25-29)
23. Newsweek (10/22-23)

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Posted under Economy

Stocks set a new post-election drop record Wednesday after Obama’s win in the 2008 Presidential election.  Wall Street clearly has some concerns about the uncertainty of the future in an Obama presidency.  Some key decisions, such as nomination of a Treasury Secretary, will help Obama either gain or lose more of Wall Street’s confidence.

A Yahoo news article points out some of the issues Wall Street may have with Obama.  One I may add is that adding more tax burden those that create jobs and determine the price of goods is never good for business.  It’s an even worse idea in a bad economy.  It always makes me think of the good old “bar stool economics” bit.

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Posted under Economy

This is from a 2001 Chicago Public Radio interview.  Obama is saying outright that wealth should be redistributed.  Unfortunately, the more and more I hear from former interviews, the more I think he’s more of a Socialist than a Democrat (please realize that I’m saying that as a definition of his views, not an inflammatory slur statement).

I’m sorry, but redistribution of wealth should not be a function of a Capitalist country.  Obama’s demeanor in the interview is very matter-of-fact.  He has no doubt in his voice that redistribution of wealth should be done.  I must admit that this is even more frightening than his comments to Joe the Plumber.

On the plus side, he did say that such changes should be made legislatively and not through the courts.  Not very reassuring to me, but at least it’s something positive.

Transcription available at STACLU.

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Posted under Climate, Economy