Gipper my point is that selling stocks short hurts a lot more investors than it helps. Most people are in the market because of retirement accounts and long term investments that bank on market increases. I might add that because pensions have disappeared that a 401 K etc. is all most of us have anymore. That said....how do short sellers help most people that are saving and investing for retirement? Not too many short sellers are making long term investments I wouldn't think. To the Mrs....there is a heckuva lot of very hard working Americans who don't make 250K per year and really don't have to worry about that starting point as the individual wage earners they are. However like me they pay a huge percentage of what they earn into taxes compared to the very rich.
Speaking of closet liberals....just saw a CNN breaking news blurb that states "Colin Powell says he will vote for Barack Obama".... Hmmm.....there are certain to be racist overtones casting dispersion on that decision.
MCG, Remember when Powell endorsed GWB? Then was rewarded with the cabinet position? Jesse Jackson, Al Sahrpton and many others cast racial insults at Powell, calling him an Uncle Tom, Stepin Fetchit, white bread etc. My guess is they'll be silent on this move.
Number of possibilities here 1. He beleives that Obama would be a better Commander-in-Chief (if so his ability to recognize the enemy has been completely lost) 2. He's a front runner and can read the polls. The loser doesn't get to appoint anyone. 3. As a retired general, he doesn't make $250,000 a year. 4. He doesn't have the ability to surrender West Point.
I'm no political wizard (by far) but anybody who is surprised by Colin Powell's endorsement has been pretty far out of the loop. Powell No Conservative