I saw nothing in this election that would make the relationship with business cozier. In fact, I think quite the opposite. Things are going to get more chilly because he believes that they aren't going to hire no matter what he does, or at least hire here.
The idea that he is suddenly going to make nice with the potential big hirers, the oil and gas and refining and chemicals businesses because energy is so cheap? Good luck with that. The companies and leaders in those industries tried to bury him. They did everything they could to crush him. Now he is supposed to be magnanimous? Why? Would you be? I sure wouldn't be. Because of legacy? What's the legacy of the fossil-fuel gang in a green presidency.
The bankers and the oil men were the big losers Tuesday night and the stocks reflected it yesterday. They can recover because they did well before when he disliked them and they will do well now when he dislikes them. But they won't ever have a friend in this White House.
Don't believe me? Consider this. In the first Obama campaign he received tens of millions of dollars from bankers and business people and he did little to help them. Then they turn on him and now he's supposed to help them?The president will not get you 1,000 or 2,000 more points on the Dow because of some new attitude. That attitude doesn't exist. Stop your dreaming. Now, the other side is more intriguing and more important. There's a battle for the soul of the Republican Party, and it is made up of people who fear losing their seats in Washington vs. the true believers, the guys who holed up with the Outlaw Josey Wales at the beginning of that fabulous movie. These are people who refuse to surrender when the War Between the States was over because they never accepted that it was a lost cause and intended to fight on no matter what. Call these people the Tea Partiers. They have no sense of self-preservation because it doesn't intrigue them. What matters is the cause or causes.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV