Wednesday, January 16, 2008

The unforgiving minute

What's the #1 worry for financial advisors today?

Recession? The hollowed-out economy left by seven years (and counting) of Bush economics? The bursting of the credit bubble? The vulnerability of an oil-based economy?

Global unrest? Terrorism?

Pffft! Those are nothing.

According to the December report of a quarterly poll of 236 financial advisors, their greatest fear was a Democrat elected to the White House in 2008.

Remember that the next time you're considering trusting your financial well-being to their judgment: The economy can be in the toilet, we can be at the bottom of the industrialized nations on infant mortality, the Middle East can be going to hell in a handbasket, oil can be selling at $1$100/barrel, the Canadian dollar can be worth more than the American dollar, and the British standard of living could be higher than our own--but to these people, none of that matters as much as the thought a possible increase in tax on capital gains, dividends, or income.

The myth that cut-taxes-and-spend Republicans are still the best stewards of the economy is indestructible, it seems.

Minute's up.


Samuel John Klein Portlandiensis said...

Man I wish oil were selling for $1/barrel.

Of course, they'd find some way to sell the gas to us for $3.50/gallon.

Nothstine said...

Well, that's a little embarrassing, isn't it?

Serves me right; if I'd called it "The Unforgiving Ninety Seconds" I probably would have had time to notice it.