“Market turmoil gets Barack Obama elected. He knows this and more importantly, so do his supporters. A survey released by Prince and Associates, shows that 75% of voters worth $1 million to $10 million are favoring John McCain, but of those voters worth more than $30 million, two-thirds support Obama. It’s no secret that the majority of uber rich individuals despise the current administration and are willing to do whatever they can to get new blood into the White House; even if it comes under conditions of an economic collapse,” Jason Schwarz writes for Seeking Alpha.
“These Obama billionaires, led by famed market manipulator George Soros, would love to kill two birds with one stone. If they can get their man into the White House and buy back into the stock market at a once-in-a-generation low on November 5th they will be able to declare a double victory,” Schwarz writes.
“While the billionaire’s club lacks the actual resources to completely move the broad market, they definitely have the resources to start a snowball effect. In 2005, George Soros convened with his group of 70 super-rich liberal donors in Phoenix to evaluate why their efforts to defeat President Bush had failed. They came away from that meeting with a plan to push even harder for a victory in 2008. The recent overreaction in equity prices has been attributed to the hedge fund/mutual fund redemption crisis that caused record amounts of money to exit the market during the first half of October,” Schwarz writes. “Could it be that the big money had something to do with the panic?”
“So how should investors play this underlying market tussle? You’ll want to own the ‘babies that have been thrown out with the bath water’. There is a select group of stocks with pristine balance sheets and solid growth prospects who have been beaten down for no good reason,” Schwarz writes.
The Top 5 on Schwarz’s list:
1 – Apple (AAPL): $25 billion cash, 0 debt
2 – Automatic Data Processing (ADP): $1.5 billion cash, $66 million debt
3 – China Mobile (CHL): $31 billion cash, $4.96 billion debt
4 – Cisco (CSCO): $26.3 billion cash, $6.89 billion debt
5 – Ebay (EBAY): $3.64 billion cash, 0 debt
More in the full article, including Schwarz’s full list of 15 stocks, here.
[Thanks to MacDailyNews Readers “TowerTone” and “Jason R.” for the heads up.]
MacDailyNews Take: Regardless of the cause(s) of market turmoil, it’s nice to see Apple recognized as the most solid on a list of the most solid stocks.
“I’m sorry, but the current economic collapse has been the fault of greedy and irresponsible financial institutions abetted by the Bush/Graham/Greenspan philosophy of deregulation and their “Free Market” fantasy religion.”
I’m sorry, too… because while the notion there was deregulation may be “semantically” or “technically” correct, there was in fact a great deal of government intervention.
Which, in the real world, produces the same results as regulation.
Here’s a link to why and what really caused this mess.
http://myslu.stlawu.edu/~shorwitz/open_letter.htm
Ashami,
I never said dems were equally responsible. But they do share responsibility for creating the foundation of this mess.
Sound familiar?… fear of switching is Microsoft’s….scratch that…McCain’s strongest selling point.
I’m pretty much done with this site after this. I need NO further evidence that the people who run this site are partisan republicans, who have no qualms injecting their politics into a MAC website. This is just gross.
appleinsider.com
macnn.com
macrumors.com
9to5mac.com
cya mdn, I’m outta here
Hey MDN! Why nothing on Ted Stevens’ conviction? Is it because he’s a Republican, like you?
So why do the über-rich support Obama, especially if he’s a “socialist”?
You can’t just brand them all “liberal” considering the fact that 2/3 of those worth more than 30 million are supporting Obama.
Perhaps they’re secure enough to look past the tax hike they will suffer and see that in the long term what the senator from Illinois represents is far more positive than anything the other fear-mongering and race-baiting (take a bow Mr. Limbaugh) ticket can muster.
WTF! MDN is in the tank for McCain now? Who wrote this crap?
Well done MDN, you are now officially the Drudge of the Mac world.
Independent,
Jason Schwarz wrote it for Seeking Alpha.
The quotation marks are a dead giveaway.
Extra clarification for the Obama supporters: MDN did not write this.
“Don’t blame the messenger because the message is unpleasant.” – Kenneth Starr
Ah yes, the familiar republican canard that the ecomomy will tank under a Democrat. I wonder, is there anything the above posters hasn’t drooled that isn’t taken verbatim from similar warnings about how horribly the economy would do under Bill Clinton if he was elected instead of Pres. Bush? The GOP’s story never changes. And yet…once again…facts have a known liberal bias. Quoted from http://www.boom2bust.com/2007/12/12/is-a-republican-president-really-better-for-the-economy/
I call to your attention a study done in December 2006 by Elliott Parker, Ph.D., who is a Professor of Economics at the University of Nevada-Reno. Using data from the U.S. Department of Commerce’s Bureau of Economic Analysis, Dr. Parker first compared the economic performance of Republican and Democratic presidencies from 1929 through the end of 2005. He found that the Real GDP Growth Rate (annual average) was 1.9% for Republican administrations and 5.1% for Democratic administrations during this time. Real GDP Growth Rate Per Capita was .7% for the Republicans and 3.8% for the Democrats. However, the professor pointed out that the years comprising the Great Depression and WWII should probably be excluded from the comparison. So economic performance from 1949 (end of Truman administration) to 2005 was compared, which showed Real GDP Growth Rate (annual average) under Republican administrations now stood at 2.9% and Democratic administrations at 4.2%. Real GDP Growth Rate Per Capita was 1.7% for the Republicans and 2.9% for the Democrats. These results prompted Dr. Parker to conclude that “the economy has grown significantly faster under Democratic administrations, and more than twice as fast in per-capita terms.”
The University of Nevada-Reno economics professor also uncovered the following while conducting the economic comparison between Republican and Democratic presidential administrations from 1949 to 2005:
• Unemployment Rate- Republicans 6.0%, Democrats 5.2%
• Change In Unemployment Rate- Republicans +0.3%, Democrats -0.4%
• Growth of Multifactor Productivity- Republicans 0.9%, Democrats 1.7%
• Corporate Profits (share of GDP)- Republicans 8.8%, Democrats 10.2%
• Real Value of Dow Jones Index- Republicans 4.3%, Democrats 5.4%
(in logarithmic growth rates)- Republicans 2.8%, Democrats 4.4%
• Real Weekly Earnings- Republicans 0.3%, Democrats 1.0%
• CPI Inflation Rate- Republicans 3.8%, Democrats 3.8%
The article linked by @Ashami summarizes what I have understood about this fiasco from the beginning.
It doesn’t matter what you build a house out of, if the foundation is shifty, it will eventually fall.
And to the leftist who continually threaten to leave, now you know how it feels to watch the mainstream media as a Conservative.
Adios.
Frank is right.
If a kid spreading a false rumor about Jobs having a heart attack or someone else spreading rumor about an $800 laptop can send APPL down, you don’t think things be affected by billionaires such as Soros? He caused more than one economy to fail. Just today the market is up due to shorting VW. Look at it’s value versus yesterday. It drove the overseas markets up. For no good reason. For a short while VW became the world’s largest company. Does that make any sense?
And the mortgage crisis can be directly attributed to the Democrats forcing banks to make loans to people who were bad risks. And the banks risked being sued if they didn’t make enough of them. Of course Fannie Mae was guaranteeing the loans so they didn’t seem to care. Oh, and who was the leading recipient of Fannie Mar contributions? Oh yeah, Obama. If you folks think Obama’s change to socialism is a good thing, you are in for a rude awakening. Everyone can’t live off the government. Someone has to support the monster. And if it gets too big, the producers won’t be able to do so. Then where are the handouts going to come from?
Crazy talk. Probably fueled by desperate neocons.
Get a grip, people.
This is an opinion piece – not journalism. 99% BS and paranoid speculation that asks questions as if the answers are forgone conclusions. They are not.
Perhaps a useful list of target investment stocks, though – at least some of them.
you americans have no idea, how bad your worldwide reputation has become. and how some of you are possesed with the idea of the all mighty free market is almost comical. with record dept, historic financial crisis (starting in the us), and a governement of torture and war you find no one here in europe or in asia who is not praying that obama wins. let america be the country again that we all looked up to and not a bad joke of its former self.
Yes, Ralph.
Germany has a GREAT reputation.
If only we had y’alls history of humanity….
Have you stopped beating your children?
Let’s compare for a second the economic advisors of both campaigns and see which would be better for the economy:
McCain: advisor = Phil Gramm. Widely referred to as the “Senator from Enron”. He and his wife pushed for the deregulation that allowed the corrupt Enron to destroy energy markets in California, and his wife then went to work for the company. Gramm pushed the deregulation to remove the Depression era Glass-Steagall act which put barriers between investment, banking, and insurance. (Essentially, investors should be able to gamble with their own money on the market, but NOT with saving depositor’s money.) This deregulation enabled the mortgage crisis and the investment products which have poisoned our economy and caused everything from banks to the economy of Iceland to implode. Gramm also called Americans with economic concerns “a bunch of whiners” (doesn’t that make him anti-American?)
Obama: advisor = Warren Buffet, the most successful investor in the world. Buffett sensibly never invested in any of the CDOs peddled by Wall Street predicated upon mortgage investment because they went against his basic philosophy of “I don’t buy it if I can’t understand it.”
Also advising Obama: Paul Volcker, former Fed chairman. Described by business analyst Larry Kudlow thus:”He’s a great American. He’s a classic conservative. He’s a man of fiscal and monetary rectitude. While he was originally appointed Fed Chair by Jimmy Carter, Volcker ultimately teamed up with Ronald Reagan to put the kibosh on runaway inflation. He would not have made this endorsement on a whim. Believe me. He never gets involved in these kinds of political decisions”
Now tell me honestly, which one of these men do you want in charge of the economy the next 4 years?
@ Noodles Noodlemann
You are correct sir.
Libs, here is another easy example:
Farmers a, b, c and d work for the government.
The food is gathered, divided into fourths and given to the 4 farmers.
Next year farmer d gets hurt and can’t work.
Farmers a, b and c work.
The food is gathered, divided into fourths and given to the 4 farmers.
The year after that farmer d is still hurt and farmer c is tired and “just can’t work”.
Farmers a and b work.
The food is gathered, divided into fourths and given to the 4 farmers.
The fourth year, farmers a and b sit on their ass and play video games.
Farmers c and d are not working either.
No farmers work. Where is the food (money)?
Understand now?
I hope Obama will win:
1) For the sad image USA has got in the rest of the world
2) Because it would mean that all americans are not completely nuts
3) For the sake of international communication between the world and the USA
But, it’s scarry! I hope Obama will be well protected and live long… because crazy fanatics and KKK like organizations still are perverting american minds… and they LOVE weapons!
Now Obama will need all the well intended americans to get across the real comming crisis: the $ bubble.
With the death of the $ all other moneys will be sinking too, so there will not be enough good willing to find another way to live together on this palnet.
“Could it be that the big money had something to do with the panic?”
And for evidence you have exactly what to offer – besides coincidence and innuendo, that is?
Just wait and see what Soros does. Socialism, here we come.
Yes, because billionaires just love the idea of giving their money away.
Anyone voting for U.S. President based on how it will look to other countries is a complete moron.
I urge a constitutional amendment requiring a basic IQ level in order to vote.
Of course, that would kill the Democratic party as vans full of homeless paid off in cigarettes, teenagers who register 72 times, dead people, pets, and general welfare-dependent, inner-city, uneducated riff-raff would no longer be able to vote.
Bush was behind 911, wasn’t he? And the Jews, right? And Barack Obama is a radical black fake-Christian Arab Muslim commie celebrity terrorist who hasn’t accomplished anything and can’t get anything done except for being the head of a large scale multinational conspiracy of billionaires, Jews, Muslims, and the Chinese working together to destroy the United States.
My mother always said “One never discusses politics or religion at the dinner table”.
I think that age old saying should be extended to tech discussion boards.
Nobody is going to change anybody else’s mind here so let us all get back to bashing M$ and Monkey Boy.
I just don’t understand one thing. Maybe some of you can help.
If Obama wants to tax businesses making over $250K, where does he think American’s work?
Two followup questions:
What will happen to their jobs as businesses are forced to cut expenses due to higher taxes?
Is this a smart idea in a struggling economy?
– Laurie – Just a middle-class mom whose husband works at a company that generates over $250K per year in revenue.