Pricing in a Bush Presidency | The Big Picture

Pricing in a Bush Presidency The Big Picture: "'Stocks sold off again today as the markets is pricing in the likely impact of a George W. Bush presidency.
Since Bush has emerged as the polling leader in March, stocks have been hit hard. The NASDAQ has fallen 37%, while the S&P500 and the Dow are both down 20%, placing equities squarely in bear market territory.
Various Wall Street strategists have expressed concern regarding how a new set of Bush monetary and overseas policies could impact equities.
'My biggest concern is that the promised Bush tax cuts will be in extremely expensive. That would create huge deficits and be extremely inflationary' said Peter Leslie, a trader on the CBOT floor.' Governor Bush has promised to reduce captial gains and dividend taxes, and lower the marginal rates on the nation’s biggest earners. He has not explained how these tax cuts will be funded.
Maverick Capital fund manager Henry Carlyle is more concerned with government spending than Tax cuts. The Dallas resident stated 'I have followed Governor Bush in Texas, and fiscal discipline is not his strong suit.' Cabot expects a big increase in federal spending and budget deficits that will have ramifications for both inflation and an interest rates."

What was it that Rush was saying about Obama and the market? Of course Rush was wrong but what the hell he always is wrong.