BOWYER: DOW DROP TIED TO FEAR OF OBAMA PRESIDENCY

Our old friend Jerry Bowyer is in the news. He pins the recent drop in the stick market on Obama.

From Jerry Bowyer: Stocks are forward looking; when they drop now, it means investors are worried about things that are coming later – 6 to 9 months later. In other words, they’re worried about Obama. And why shouldn’t they be. He’s promised to erase Bush’s investor tax cuts. That means a hike in the tax rates for dividends and capital gains. This means very large additional levies directly on investors. Of course this affects stock prices.

CNBC