Democrats are notorious for tanking the markets. Their ideas on massive government, wealth confiscation, and population control make it difficult to disagree with billionaire Leon Cooperman, who says the stock market will tank and lose 25% of its value if either Elizabeth Warren or Bernie Sanders is elected.
Should Americans decide to vote for a socialist-leaning communist in the next presidential election, they should also be prepared for a substantial drop in the stock market. According to Newsweek, appearing on the CNBC show Squawk Box Wednesday, the Bronx-born chairman and CEO of Omega Advisors offered his thoughts on what a potential victory from the Massachusetts senator would do to the country’s economy.
"If Elizabeth Warren is elected president, in my opinion, the market drops 25%,” says legendary investor Leon Cooperman. “Bernie Sanders same thing.” pic.twitter.com/Liemy298my
— Squawk Box (@SquawkCNBC) October 16, 2019
“If Elizabeth Warren is elected president, in my opinion, the market drops 25%,” Cooperman said. “Bernie Sanders, same thing.”
Earlier this year, Warren—whose campaign places a high emphasis on the theft of the wealthy—proposed a tax plan she says will raise roughly $2.75 trillion from thousands of families across America, The Washington Post reported. Her plan, named “The Ultra-Millionaire Tax,” calls for a 2 percent tax on every dollar a household has above $50 million. Households with more than $1 billion will be taxed at 3 percent.
“My question is not why do Bernie and I support a wealth tax. It’s why is it does everyone else on this stage think it is more important to protect billionaires than it is to invest in an entire generation of Americans,” Warren asked during Tuesday’s Democratic debate. The simple answer: because theft is still theft. Stealing something that isn’t yours and you have not earned is not morally acceptable. It doesn’t matter if someone has more than you or not. Taking things that don’t belong to you is still wrong. Warren later took heat from two of her opponents, former Vice President Joe Biden and Minnesota Senator Amy Klobuchar, for her statement criticizing the other candidates on stage.
The reason rational and logical and morally sound human beings don’t support taxation in any form is because it’s done under threats of violence, making it the very definition of theft. It sure would be nice if those who support evil and morally bankrupt politicians like Sanders and Warren would realize just how immoral the whole system is. Hopefully, we will never have to experience a Sanders or Warren presidency.
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Already happening.
4 week Tbill interest rates dropped 15%.
Lots of people are jumping into bonds.
Equities and PM Market is overpriced and the Commie Democrats running for president look like they could win.
I also suspect the Oct 21 Canadian election will result in the fracturing of the Canadian Federation.
Aloha
If Pocahontas or Comrade Bernie gets elected it’ll be one of two possibilities-:
1–The election was certainly rigged or
.
2–This country is certifiably insane.
Either way, not a good outlook…
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ps –It’s been a long time, but I’m glad to be back. Hope everyone here is doing well. Strap in and get ready for 13 more months of Electile Dysfunction.
Howya doin’ Smoke
Thought mebbe you joined the Great Convoy in the Sky. Nice to see you’re still kicking. Did you ever get back to the farm?
Well, I see moderation purgatory is still on for all comments.
In a totally unrelated occurrence-
I finally went, kicking and screaming, into the modern age. My old flip phone recently bit the dust so I went to the phone store. Seems they don’t make that model, or anything like it, anymore.
I showed the old unit to the polite young lady who waited on me. Flipping it open and pointing to the tiny screen I said
“See, it’s a 3G phone. And the helpful personnel in Calcutta whom I spoke to said they had finalized an upgrade to their system. It’s completely 4G and my phone just won’t work on it. Plus, he said something about more upgrades. Apparently they’ll soon be 5 or 6 G, maybe even 7. I couldn’t quite understand everything he said.”
“Anyway, I need to buy a couple more G’s for my phone.”
I looked around the store, “Do you have ’em on the shelf or are they special order?”
She looked puzzled, “Are WHAT special order, sir?”
“The new G’s! That’s all I need. And don’t worry about installation. My cousin is a good mechanic, he’ll help me put ’em in. I think two would be enough for now. I’ll come back if I need more.”
She blushed, like I’d said something embarrassing, “Ummm, sir, we don’t sell those uhh, that sort of, …what I mean is you can’t just upgrade a phone like that.”
I was indignant, “If Vanna White was here, she’d sell me some Gs! In fact, I wouldn’t even have to pay for ’em. She only charges for vowels. Consonants are free!”
Two hours, and $300 later, I walked out of the store with my new phone. It’s a Samsung-Nokia Apple-Pear-Peach Galaxy Malaxy Ziggity Zag something. Can’t wait til my grandson comes to visit this weekend. Maybe he’ll show me how to turn the damn thing on!
Smokin’ Okie, welcome back to this forum. I’m glad to hear I’m not the only one having difficulty figuring out these new phones. No wonder the young-uns spend so much time staring at the darn things – I bet they’re trying to figure it out too.
Stock market can drop to zero for all I care. Medicare for all is the right thing to do, stop the unending wars. I’d like to see Sanders as president, Warren not so much. Greed is the mentally ill sickness destroying America and the world.
“Stealing something that isn’t yours and you have not earned is not morally acceptable.”
But, there is no such thing as an ‘ultra-millionaire’ in a free market. Little people will not participate in a state monopoly, without coercion and word games.
I don’t necessarily trust a bartender, without a garbage disposal, to rebuild an industrial economy, yet question whether T can drive a rivet. What do you mean, “earned it”.
None of the rightist energy sources are necessarily profitable, in and of themselves, without favoritism and confiscatory wealth redistribution.
Rightist food sources do not exist, apart from the same mandatory corporatism or welfare statism used by the leftists.
You are only accustomed to what they have taken by force (or by a cult of personality); where did these industries originally come from. What keeps propping them up, when they keep failing.
Many do not realize that the market collapse in 2008 was because investors became aware that Obama would probably win. Another crash is likely at anytime that it appears that the socialist may be about to take over.