The Nashville Conservative

What do investors know?

Steve — Fri, 20 Feb 2009 21:43:17 +0000

There’s a reson people look to the DJIA and the NASDAQ composite indices to guage the economy’s health. Market indices are not the only indicator of economic health, and they aren’t always right, but how investors feel about the current economic outlook (or a particular piece of news) is usually directly expressed in these numbers.

Now we can talk for days about how much investors know and how much they don’t know – but you can’t argue that they help to drive this economy. Innovation and competition are fueled by profits. Keeping investors happy is the number one job of the board of a publicly traded company (regardless of what their mission statement may say to the contrary).

Generally speaking, I think it’s safe to say that people who invest have a few things in common.

They have an understanding of the economy – however basic or flawed, they at least *think* about it.
They are fickle.
They are in the markets to make money.
If something is good they want to buy it (thus driving the market price upward).
If something is bad, they will want to sell it (thus driving the market price downward).
If they think that they are going to lose money, they are generally less likely to buy and more likely to sell.

Now if those are true, not of all but of most, it’s safe to say that the general trending of the markets when investors are unhappy is negative… when they are happy, the inverse is true.

All of that, coupled with this from the latest Rasmussen Report…

One month after Inauguration Day, the President gets much stronger reviews from non-investors than investors. Among those with money in the market, 33% Strongly Approve while 29% Strongly Disapprove. Among those who do not invest, 45% Strongly Approve while 21% take the opposite view.

Is it a huge margin? To me, it is. Is it important? How’s your 401(k)?

When did it become painfully obvious that Obama was going to win the election? Personally I still haven’t come to grips with it… but sometime around September, everyone in America knew. Even McCain knew. Is it a surprise to anyone that the Dow is down more than 4000 points since September? Are there other issues that fed the sell-off? Of course there were. In fact it kinda borders on irresponsible for me not to mention the myriad issues that contributed to it… but the real facts are, investors are the people whose money is at stake in the market. They have every reason to sell. The leader of the free world doesn’t know what he’s doing.

… Obama was counting on it. Counting on the fear. In the last few days, rumors have been circling about the sell-off and what happened and who caused it. I’m not touching any of that.

What I will say though, is that investors know when to be hopeful. And they know when being hopeful is just dumb. Right now, they’re telling us that it’s dumb.

To add insult to injury – the report also throws this last line in (in the same paragraph, no less)…

The President also does much better with government employees than with private sector workers.

Gee… anyone care to guess why that is?

A new day is here

Steve — Fri, 23 Jan 2009 15:13:16 +0000

Americans. This is what you’ve sown. Obama, in HIS infinite wisdom, somehow sees that lifting the ban on tax payer dollars – your money – going to fund international agencies that promote abortion is a good idea. Is it a blank check? No, but that’s not really the point, is it?

The point is – we’re struggling… we’re headed toward what many economists are forecasting as a depression, and this is NOT the way to spend our money.

Forget that Obama pledged to focus on what unites us rather than what divides us. Forget that abortion is not just wrong, it’s a crime against humanity… and many Americans (whose tax dollars are funding this) find it deplorable.

This is Hope. This, freinds, is Change.

I’m sick from the thought of it.

Drill (fifty miles from) here, drill now

Steve — Wed, 17 Sep 2008 02:23:02 +0000

Rumor has it that the Senate US House has just passed a bill lifting the ban on offshore drilling – with the caveat that the drilling has to be 50 miles off the coast. I know the democratic controlled senate thinks this will be enough to mitigate the risk Obama is facing from the energy-starved Americans angry at the “do nothing” politicians… and it will likely put some additional downward pressure on oil futures… but is it ideal? 50 miles seems like a long way to haul oil – and greater distances will translate into higher costs… not to mention it will likely mean that there will likely be more tankers in the water – which will undoubtably cause an exponential increase in the risk of a spill.

Oh the wise liberals. They are in the pocket of the EPA and environmental groups clearly- but it’s almost as if even the special interests didn’t bother thinking about the consequences… but that’s really just par for the course, now isn’t it?

Today, September 11th

Steve — Fri, 12 Sep 2008 03:34:37 +0000

In the interest of unity of this great nation, on a day set aside to remember not only the victims and their family, but also the heros and the spirit of oneness this country enjoyed in the days immediately after 9/11, I will refrain from any commentary to the contrary.

I’m struck today looking at all that’s going on. I won’t make this a very political post, I won’t dig in to what I’m reading in the blogs. I won’t talk about the Bush Doctrine or Sarah Palin’s interview with Charles Gibson. There’s a lot of non-news.

But that’s not what’s striking. What’s striking, is the news. Striking, at least to me, is the following:

Recalling the images, voices of 9/11

Venezuela to expel U.S. ambassador

Officials warn of ‘certain death’ in face of Ike

Earthquakes rock Pacific area

Earthquake Hits Iran

Magnitude 6.0 earthquake rocks northern Chile

FOXBusiness: U.S. Trade Deficit Soars to 16-Month High

Russia sends warplanes on Venezuela training mission | World news …

If you are so inclined, pray. Pray for these people and the events above. These are dire times. If you’re not so inclined, I will pray for you.

Good night, and may God bless America.

I will never forget.

Steve — Thu, 11 Sep 2008 13:18:05 +0000

Pig

Steve — Wed, 10 Sep 2008 05:06:52 +0000

Ask any of the newly converted “Palin Groupies” about the best lines from Palin’s (slightly premature) acceptance speech, and you’ll undoubtedly hear something about this line:

“You know, they say the difference between a hockey mom and a pitbull? Lipstick.”

Now the Obama campaign doesn’t like the buzz that Sarah Palin has been generating, and for obvious reasons… but was the latest move by the Libs a bit much? I’ll let you decide.

Obama, while speaking at a campaign stop in Virginia, said of his opponents:

“That’s not change. That’s just calling the some the same thing something different. You know, you can’t uh, you know you can put, uh, lipstick on a pig; it’s still a pig” (followed by no small amount of cheering and screaming from the Obama supporters).

I’ve been reading a lot on the blogs this evening about how this wasn’t a direct stab at Palin and that it’s just a figure of speech. OK, I admit I’ve heard the figure of speech… but to say that it’s not a calculated, targeted, sexist response to Palin’s line about lipstick being the difference between a hockey mom and a pitbull is just ignorant.

I’m not trying to judge, but I think most of the people who are denying the deliberateness of the comment fall into one of two categories: Either they are laughing about the comment to their liberal, sexist friends, or they have woefully underestimated Obama.

I’m not sure which of those says more about the person. Both are ignorant. Both are dangerous.

The beginning

Steve — Tue, 09 Sep 2008 03:10:53 +0000

This blog exists because this election means a lot to this country. The disclaimer here should be “This blog is not called Nashville Republican”. While Bush has in many ways been what some would consider socially conservative, he has not been fiscally conservative by any stretch of the imagination… Now this isn’t a slam against him, although I’ll say I am one of the disenfranchised republicans we keep hearing about… that was until I realized I’m not a republican after all… I’m a conservative.

I believe in smaller government. Obviously MANY republican politicians don’t.

I believe that life begins at conception. I don’t think it’s “above my paygrade” to decide when a life has rights.

I believe that abortion is murder. (note that I’ve hit that topic twice?)

I believe in a free market.

I believe in people helping people.

I believe that although ‘the rich’ seem to have lots and lots of money, taxing it away from them is not in our country’s best interest.

I believe that raising the taxes on business winds up costing businesses more money. And when businesses have to pay more taxes, they have less money to pay workers… so they cut back on staff. And when they cut back on staff, people will depend on government to “fix it”.

I believe that this “Liberal Tax and Spend” is a death sentence to American prosperity.

I believe that Barack Obama represents the worst in Liberal Tax and Spend, and Joe Biden is the worst possible choice for VP.

Mostly, this blog exists because buzzword or not, this nation is at a crossroads. Regardless of what the Liberal MSM says about Palin or McCain, they are the only reasonable choice in this election.

And I’m OK with saying it.