I, For One, Welcome Our New Insect Overlords
All hail Nancy Pelosi and her glorious new regime!
Congratulations to the Democratic Party on its victory in this week's elections. Although I am a conservative, I have not been happy with the recent performance of the Republican Party. Runaway spending, typified by the Medicare prescription drug bondoggle, has been a hallmark of the last several Republican-controlled Congresses.
What matters to me is that taxes remain low, and that the Federal government reduces the urge to butt into my life. Many on Wall Street are betting that the Democrats won't have the balls to increase taxes now, as well as retreat from Iraq in the immediate future. I happen to agree with that assessment, and also look forward to legislative gridlock and some spending vetoes by President Bush.
For those of you that invest with me, stay the course but don't invest any new money. If the Democrats raise taxes or begin withdrawing from Iraq, that's your signal to begin selling and moving into cash.
I will be happy to answer any questions that you might have on investment strategy.