Monday, December 06, 2010

Asia's reaction to extending the Bush tax cuts

Well the initial reaction is in as far as the Asian stock markets are concerned. So far most are negative at the open. It's obvious why they would be down. It's because many think they won't get paid for the debt they own of the US. Let's see our market's reaction tomorrow. I have a hunch it will be party time!

Also, I want to thank each of you for visiting my site. Tonight I reached a new record level of 63,000 visitors and those visitors read over 100,000 pages of my Blog. Again, many thanks.

UPDATE: 5:45am PST

It looks like the market will surge today as Europe is up over 1% during pre-market today. So let the party begin. My goodness, even Steve Forbes is talking about how great this is going to be, just like the Reagan years when he reduced taxes and spurred the economy, which gave us the Bull market. Doesn't it feel like the roaring 20's to you right now?

The problem is that with extending the Bush Tax cuts for everyone, we have put ourselves in a deeper hole. Besides, there is no new money, we already have had the Bush tax cuts now for 10 years and there wasn't hardly any jobs created. God help us, because we can't seem to help ourselves any more!

Labels: , ,


Post a Comment

<< Home

Technorati Profile