The Dow is down almost 1000 points (nearly 10%) since Barack Obama's election, the worst post-election slide in history. Why?
Dunno. But since I know as little about the economy as anybody, I have a theory.
One of Obama's stated intentions is to dramatically raise the capital gains tax. Gains in the value of investments is subject to this tax. Is it possible that people are getting out of their investments now, before any new tax law can affect them?
I've been reading about people going "John Galt" as a reaction to Obama's broad social agenda. Could this be the beginning?
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