All Posts Tagged With: "John Mccain"
Futures Traders Bet on Obama
Futures traders are betting heavily on an Obama win. His rival, John McCain, has dropped to 35% on Intrade. It’s a new low for the Republican as the economy remains top of the news agenda.
Early Indicators: ‘A Long and Painful Recession’
– There really must be a financial crisis. John “the fundamentals of our economy are strong” McCain has suspended his presidential campaign to to return to Washington to work on the proposed $700 billion bailout bill of financial institutions before Congress.
– Meanwhile, McCain’s fellow Republican George W. Bush made a televised appeal for the swift passage the plan. He said the “entire economy is in danger” and warned of a “financial panic” and “a long and painful recession” if Congress didn’t pass the bill soon.
Early Indicators: Buffett to the Rescue
– Billionaire investors Warren Buffett has sent US stock-index futures rallying after his Berkshire Hathaway announced it will buy $5 billion worth of perpetual shares in soon-to-be bank-holding company Goldman Sachs (NYSE:GS). The news sent shares in Goldman up almost 8%. Shares in Morgan Stanley (NYSE:MS), which is also converting into a bank, rose 9.8%.
– December-dated S&P 500 futures rallied 13.10 points, Dow futures were up 101 points, and Nasdaq-100 Index futures rose 18 points on the news. Yesterday, US stocks ended the worst two-day rout since 2002.
McCain’s Economic Advisor Says US in a ‘Mental Recession’
Never mind the credit crisis, record energy prices, declines in payrolls, wages, and house prices. John McCain’s economic adviser, Phil Gramm, thinks US economic woes are merely psychological.
The Times said Gramm said he expects a McCain administration would inherit an economy “weighed down above all by the conviction of many Americans that economic conditions are the worst in two or three decades and that America is in decline.”
Investors Will Watch as Inflation Dominates the Spotlight This Week
Investors better keep an eye on bonds this week.While the stock market may be more fun to follow, fixed income is often a stronger gauge of investor expectations of the economy, future U.S. Federal Reserve policy, and inflation.
Kiss Your Gas Goodbye
A week that saw the war on taxpayers expand onto to several new fronts also saw US Senate Republicans win a pitched procedural battle to keep gas at the pump grossly inflated.
Obama and McCain Clash on US Tax Reform
Presidential hopefuls Barack Obama and John McCain have clashed over the issue of tax reform.
Obama has pledged to introduce a windfall profit tax on oil companies and raise income tax for those earning over $250,000 a year if he wins the White House. McCain favors a lower corporate tax rate (from 35% to 25%) and suspension of fuel taxes during summer. Both seek tax cuts for the middle class.
“Investors should focus their minds around one uncomfortable fact,” says Martin Hutchinson in Money Morning.
Obama or McCain, U.S. May Suffer Either Way
As Barack Obama closes in on the Democratic presidential nomination, investors should focus their minds around one uncomfortable fact: Whether it’s Obama or Republican John McCain who wins the White House, expect some policy changes that won’t sit well with investors - or with the U.S. economy.
Strategists See McCain On Track to Beat Obama by Clear Margin
It may not seem likely now, but GOP strategists believe 71-year-old Republican presidential candidate John McCain could beat Barack Obama in the presidential race — and by a margin exceeding President Bush’s Electoral College victory in 2004. This from Politico.com:
At first blush, McCain’s recent rough patch and the considerable financial disadvantage confronting him make such predictions seem absurd. Indeed, as Republicans experience their worst days since Watergate, those same GOP strategists are reticent to publicly tout the prospect of a sizable McCain victory for fear of looking foolish.
Bush to Attack Iran Before Ending His Term: Report
A report in the right-wing Israeli newspaper The Jerusalem Post claims that President Bush intends to attack Iran in the upcoming months, before the end of his term.
The move would play further havoc with oil prices, and could send the price of oil spiraling to $200 and beyond.
Iran claims to have the world’s third largest reserves of oil at approximately 136 billion barrels as of 2007. The country ranks second if Canadian reserves of non-conventional oil are excluded.
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