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Election 2008: A McCain Victory Won’t Mean Same Old Republican Story
One thing is clear about John McCain’s economic policies: They won’t be a mere continuation of George W. Bush’s policies. They can’t afford to be. While Bush’s tax cuts have been highly beneficial both to the stock market and to investors directly, the Bush Administration has taken what was a $150 billion federal budget surplus and transformed it into a $400-billion-plus deficit. That’s at a time when stock markets and real estate markets have been ebullient, producing lots of bonuses and capital gains to tax.
Most of the deficit increase has resulted from sloppiness on spending; only about one third of…
3Sep2008 | Money Morning | Comments Off | ContinuedIneluctable Truths
Aiy! We arrived in London this morning, greeted by a dark sky, rain, and wind. Ah, the summer…we hardly knew ye…
What a delightful summer it was! (More below…)
The weather never actually turned summery – until the last two days – but it was still a marvelous respite from the workaday world of September-July.
We went back to the workaday world yesterday – taking the train up to Paris for an editorial meeting with our new French financial magazine. We are taking a risk with the publication – giving it an English title: MoneyWeek. French may be the language of Proust, but…
3Sep2008 | Daily Reckoning | Comments Off | Continued
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