Friday, November 21, 2014
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS

Post-election market looks a bit sketchy

stevenson column sig

By
From page B7 | November 18, 2012 |

Can you tell me how many people said they were going to wait until after the election before they put any money back in the stock market? Not just people you might know personally, but talking heads on the stock market programs, or even the radio commentators?

Of course, radio and TV have been blanketed with commercials that suggest you should buy gold and, perhaps, silver, but if you look at the gold chart, it’s been virtually flat for the past few years. One of the commercials mentions a Citigroup forecast that gold would go up to $2,400, which would be a 40 percent gain. That’s known in the advertising and debating world as “an appeal to authority.”

Citibank has such a wonderful record that it lost about 90 percent of its value during the 2008 mortgage debacle. Not only that, a few weeks ago, Citibanks’s CEO, Vikram Pandit, was offered the guillotine – figuratively – or to take his personal belongings out of his office. A classy outfit, that Citigroup, isn’t it?

Now let’s get back to all those forecasts from those who said, in effect, that things would calm down as soon as the election was over. They were off by just a little bit.

The week after the Tuesday election, when the market dropped around 300 points, was actually one for the history books. Surely it couldn’t be Obama’s election, since he had the edge for weeks before the election.

There are some who said it was the so-called “fiscal cliff,” in which taxes would soar – and not just for the very wealthy. But, if anything, the fact that the Republicans held onto the House means serious negotiations will have to take place before any significant tax hike can take place. The Republicans object to a surcharge on those whose income exceeds $250,000.

At first that might seem fair – after all, by any standards, a quarter-million dollars is a lot of money. But in terms of what makes this country grow, it’s just this kind of individual, who is willing to risk everything, who is responsible in large part for laying the groundwork for the mighty edifice of capitalism.

Whether you’ll swallow that or not, you have to admit that, as I have previously mentioned, more and more voters are voting for the party that gives them things they won’t have to pay for.

One more factor we didn’t discuss is the trillions we owe to China and other Asian countries. Will it cause inflation here? Will that make our dollar dramatically less attractive to our debtors? I personally don’t think so, because I read “The Little Golden Book of Monetary Policy” when I as in third grade.

Bud Stevenson, a stockbroker, lives in Fairfield. Reach him at Bsteven254@aol.com.

LEAVE A COMMENT

Discussion | 1 comment

The Daily Republic does not necessarily condone the comments here, nor does it review every post. Read our full policy

  • Rich GiddensNovember 18, 2012 - 11:24 am

    This outcome for America is not what the Founding Fathers had in mind. Everything changed since Obama and the Democrats have taken over and for the worse. Voters in Greece did the same thing---despite bad outcomes, they continued to vote for the socialists and as things got worse, they doubled down on their bad choices and now their nation burns. Who's next? I personally don't believe in these new economic beliefs--that you can just print money and not expect devaluation and inflation to occur. Obama and the California Brown shirts will continue to destroy the economy and kids futures.

    Reply | Report abusive comment
.

Solano News

 
Fairfield on film celebration set Saturday

By Amy Maginnis-Honey | From Page: B1

 
Solano high school students bring robotics to Shanghai, China

By Susan Winlow | From Page: A1 | Gallery

Hanukkah Festival added to Holiday in the Park

By Amy Maginnis-Honey | From Page: B1, 1 Comment

 
Holidays present seasonal entertainment

By Amy Maginnis-Honey | From Page: B1

Memories of Thanksgiving Days gone by

By Tony Wade | From Page: A2

 
Man shot at Suisun City apartment

By Ryan McCarthy | From Page: A3, 6 Comments

 
 
Fairfield police log: Nov. 19, 2014

By Susan Hiland | From Page: A12

Suisun City police log: Nov. 19, 2014

By Susan Hiland | From Page: A12

 
.

US / World

Emotions rise as people hear immigration plan

By The Associated Press | From Page: A1

 
Obama spurns GOP with expansive immigration orders

By The Associated Press | From Page: A1, 11 Comments

Congress can’t ‘de-fund’ Obama on immigration

By The Associated Press | From Page: A1, 1 Comment

 
A look at the numbers in Obama’s immigration plan

By The Associated Press | From Page: A1, 1 Comment

California sheriff criticizes Obama on immigration

By The Associated Press | From Page: A3, 3 Comments

 
PG&E fined over alleged secret dealings

By The Associated Press | From Page: A4

Deal divides billions in closed nuke plant’s costs

By The Associated Press | From Page: A4

 
California tuition hike fight shifts to Sacramento

By The Associated Press | From Page: A4

Feinstein: Drought relief bill out for this year

By The Associated Press | From Page: A5, 1 Comment

 
GOP’s success in House races ends in California

By The Associated Press | From Page: A5, 1 Comment

Insurance sign-ups outpacing first year enrollment

By The Associated Press | From Page: A5

 
Man who killed co-worker, cut out heart released

By The Associated Press | From Page: A5, 3 Comments

St. Louis region prepares for Ferguson decision

By The Associated Press | From Page: A6

 
Union: Ferguson officer does not expect charges

By The Associated Press | From Page: A6, 2 Comments

NOAA: Globe sets 5th hottest-month record of 2014

By The Associated Press | From Page: A7

 
Roofs collapse as New York clobbered by more snow

By The Associated Press | From Page: A7

Hearing draws apology, admission in air bag mess

By The Associated Press | From Page: A7

 
Florida State shooter was well-liked but troubled

By The Associated Press | From Page: A7

Officials downplay debates over Ebola aid response

By The Associated Press | From Page: A7

 
Boko Haram said to kill about 45 people in Nigeria

By The Associated Press | From Page: A10

Israeli mayor’s ban on Arab workers ignites uproar

By The Associated Press | From Page: A10

 
Protesters, police clash in Mexico before marches

By The Associated Press | From Page: A10

Egypt acquits doctor in female genital mutilation

By The Associated Press | From Page: A10

 
Slain beauty queen, sister buried in Honduras

By The Associated Press | From Page: A10

.

Opinion

Why are we still changing clock times?

By Letter to the Editor | From Page: A11, 17 Comments

 
Editorial Cartoons: Nov. 21, 2014

By Daily Republic staff | From Page: A11

 
Thank you to businesses that support veterans

By Letter to the Editor | From Page: A11

 
 
Thank you for saving my purse

By Letter to the Editor | From Page: A11, 1 Comment

.

Living

Today in History: Nov. 21, 2014

By The Associated Press | From Page: A2

 
Community Calendar: Nov. 21, 2014

By Susan Hiland | From Page: A2

I have several part-time jobs and have no time or money for a personal life

By Kathy Mitchell and Marcy Sugar | From Page: A9

 
Horoscopes: Nov. 21, 2014

By Holiday Mathis | From Page: A9

.

Entertainment

Week in preview Nov. 21-27, 2014

By Amy Maginnis-Honey | From Page: B1

 
Mike Nichols, crafter of films, plays, dies at 83

By The Associated Press | From Page: B2

Hollywood pays tribute to Mike Nichols

By The Associated Press | From Page: B2

 
Five memorable movies from Mike Nichols

By The Associated Press | From Page: B2

Highlights from Mike Nichols’ multi-genre career

By The Associated Press | From Page: B2

 
Handler apologizes for watermelon joke at awards

By The Associated Press | From Page: B3

O’Keeffe painting sells for record $44.4M in NYC

By The Associated Press | From Page: B3

 
TV Land pulls ‘Cosby Show’ from lineup

By The Associated Press | From Page: B3, 1 Comment

Mysterious sculpture recovered from River Seine

By The Associated Press | From Page: B3

 
Review: Revolution gathering in ‘Mockingjay

By The Associated Press | From Page: B3

Entertainment calendar Nov. 21, 2014

By Susan Hiland | From Page: B4

 
How a ‘tiny hamster’ video gets made

By The Washington Post | From Page: B5

TVGrid

By Daily Republic Syndicated Content | From Page: B6

 
James Nesbitt as a father whose child disappears

By The Associated Press | From Page: B6

.

Sports

Bulldogs, Wildcats into SJS quarterfinals

By Paul Farmer | From Page: B7

 
Raiders snap 16-game skid with 24-20 win vs. KC

By The Associated Press | From Page: B7 | Gallery

 
Giants confident they’re in Pablo Sandoval chase

By The Associated Press | From Page: B7

Intense Boldin keeps making big catches for 49ers

By The Associated Press | From Page: B7

 
Lewis in range of big prize at Tour Championship

By The Associated Press | From Page: B8

Hendrick gives Kahne 3-year contract extension

By The Associated Press | From Page: B8

 
NASCAR: Johnson says Harvick was correct winner

By The Associated Press | From Page: B8

Jared Goff growing into role of Cal’s ‘Golden Boy’

By The Associated Press | From Page: B8

 
JC volleyball: Falcons have 4 players earn all-BVC honors

By Daily Republic staff | From Page: B8

Manfred given 5-year term as baseball commissioner

By The Associated Press | From Page: B8

 
Bills’ home game against Jets relocated to Detroit

By The Associated Press | From Page: B8

AP source: Bermuda to host 2017 America’s Cup

By The Associated Press | From Page: B8

 
FIFA to review World Cup corruption report

By The Associated Press | From Page: B8

Union appeals Adrian Peterson’s suspension

By The Associated Press | From Page: B8

 
This week in sports history for Friday, Nov. 21, 2014

By The Associated Press | From Page: B9

 
Bjugstad leads Panthers to 3-2 SO win over Sharks

By The Associated Press | From Page: B10

Prep football capsules: Week 12

By Paul Farmer | From Page: B10

 
Cousins, Gay lead Kings past Bulls, 103-88

By The Associated Press | From Page: B10

.

Business

LaCrosse rides Buick’s high reliability rating

By Ann M. Job | From Page: C1

 
Ford gets the aluminum F-150 ready for prime time

By The Associated Press | From Page: C2

Country of origin label for meat cuts endangered

By The Associated Press | From Page: B11

 
Polls: Employers still prioritize health coverage

By The Associated Press | From Page: B11

New Mexico lawmakers grill spaceport boss

By The Associated Press | From Page: B11

 
Family gets $6.75 million in Botox treatment case

By The Associated Press | From Page: B11

Gap names heads of namesake brand, Banana Republic

By The Associated Press | From Page: B11

 
AT&T pays $23.8 M to settle hazardous-waste case

By The Associated Press | From Page: B11

Soaring generic drug prices draw Senate scrutiny

By The Associated Press | From Page: B11

 
US home sales rise in October

By The Associated Press | From Page: B11

US unemployment aid applications fall to 291,000

By The Associated Press | From Page: B11

 
.

Obituaries

.

Comics

Sally Forth

By Daily Republic Syndicated Content | From Page: A8

 
B.C.

By Daily Republic Syndicated Content | From Page: A8

Baldo

By Daily Republic Syndicated Content | From Page: A8

 
Wizard of Id

By Daily Republic Syndicated Content | From Page: A8

Zits

By Daily Republic Syndicated Content | From Page: A8

 
Garfield

By Daily Republic Syndicated Content | From Page: A8

Frank and Ernest

By Daily Republic Syndicated Content | From Page: A8

 
Pickles

By Daily Republic Syndicated Content | From Page: A8

Beetle Bailey

By Daily Republic Syndicated Content | From Page: A8

 
Baby Blues

By Daily Republic Syndicated Content | From Page: A8

Blondie

By Daily Republic Syndicated Content | From Page: A8

 
Peanuts

By Daily Republic Syndicated Content | From Page: A8

Dilbert

By Daily Republic Syndicated Content | From Page: A8

 
Get Fuzzy

By Daily Republic Syndicated Content | From Page: A8

For Better or Worse

By Daily Republic Syndicated Content | From Page: A8

 
Rose is Rose

By Daily Republic Syndicated Content | From Page: A8

Sudoku

By Daily Republic Syndicated Content | From Page: A9

 
Cryptoquote

By Daily Republic Syndicated Content | From Page: A9

Bridge

By Daily Republic Syndicated Content | From Page: A9

 
Crossword

By Daily Republic Syndicated Content | From Page: A9