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social mood

There aren't too many people whose mention will provoke a stronger reaction than Bob Prechter and his premise that social mood preceeds market movement.

 

But anyhoo, seems we have the best possible test of that theory as social mood is clearly horrendous at present. Exhibit #1 would be farmers who, with the exception of a few bankers have been teated more generously by the government than anyone over the last half dozen years and are still extremely angry with the government. Go figure.

 

Meanwhile, de gummint is fighting a desperate fight to keep the value of assets that rich people hold from collapsing and taking the whole system down with it. Again, rich people are angry about this.

 

Soooo... about social mood. I'll suggest that if the government can't make people happy by shovelling money to them then is is bound to fail despite an unprecedented effort to stop the tsunami.

 

Probably takes longer than one would think, though, and then real fast?

4 Replies
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Senior Advisor

Re: social mood


@hardnox604008 wrote:

There aren't too many people whose mention will provoke a stronger reaction than Bob Prechter and his premise that social mood preceeds market movement.

 

But anyhoo, seems we have the best possible test of that theory as social mood is clearly horrendous at present. Exhibit #1 would be farmers who, with the exception of a few bankers have been teated more generously by the government than anyone over the last half dozen years and are still extremely angry with the government. Go figure.

 

Meanwhile, de gummint is fighting a desperate fight to keep the value of assets that rich people hold from collapsing and taking the whole system down with it. Again, rich people are angry about this.

 

Soooo... about social mood. I'll suggest that if the government can't make people happy by shovelling money to them then is is bound to fail despite an unprecedented effort to stop the tsunami.

 

Probably takes longer than one would think, though, and then real fast?


Nox, farmers know all of these goodies come with a hidden price. It is a transfer of wealth mainly to the BTO at the expense of the small farm family.

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Re: social mood

So why are you opposed to the estate tax?

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Senior Advisor

Re: social mood


@hardnox604008 wrote:

So why are you opposed to the estate tax?


Because I appose a government that is big enough to give it to them in the first place. Why do we need to government to first give it away and then take it back?

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Honored Advisor

Re: social mood

Just curious, what do you think that the estate tax exemption should be?  Most reasonable people could come to an agreement that a father or uncle passing 500 acres of 90 CSR, family acres should have no or very little death tax for the heir to pay.  By the same token a "Sam Walton" family with a $50 billion estate should pay something in the way of death tax.  The way I see it, I drive an older pickup, I have a very "multicultural" line of machinery, I ask myself if a certain business decission pays before I leap in head first, I keep my debt managable.  If I wasn`t married with kids, I wouldn`t be as tight with my money, I`d drive a new pickup, I`d have a Green line of machinery, I wouldn`t have a fat juicy life insurance policy.   If I didn`t have kids my goal would be to bang as many divorcees as I could, drive a new pickup, Corvette, Harley, boat...my handle would be "Iowa Corn Farmer"Smiley Very Happy   But I Love my Wife and Kids and want to leave them a legacy, so I put my nose somewhat to the grindstone.   If tax policy swings too far to "confiscation" my goal will be to "die with the bank full of notes" ..where would be the incentive to work if it all goes to the government???   And don`t kid yourself, I`m not an anomaly, when others in my boat see their peers pass away and the government takes half their estate, they will all wake up and spend right up to the exemption amount.