Skip to main content

Election Day 2018

Four hundred and thirty-five seats in the House of Representatives are up for grabs, while 35 of the 100 Senate seats are also on the ballot. Betting markets have suggested that Democrats will gain control of the House, but Republicans will keep their grip on the Senate. The vote is expected to draw historic numbers to the polls and could spark further volatility in the wider financial markets.

Schwab's Vice President of Legislative and Regulatory Affairs, Michael T. Townsend thinks that a Democratic victory in the House is what the markets are expecting. He adds that if Democrats win a majority in the House, expect a lot of investigations in 2019 of the president and efforts to roll back some of his legislative accomplishments of the past two years. But he points out that those efforts are not likely to succeed because of a narrowly divided Senate and the fact that the president still wields the veto pen. That’s why Michael thinks the markets are anticipating more gridlock in 2019, and he does not expect a big market reaction to the election outcome.

Investor's Business Daily: Tuesday's midterm elections likely will be a market driver later this week, which could make for a relatively subdued Tuesday session.

Some stock market pundits argue that GOP control might be best for Wall Street. Historical data suggest a divided Congress spurs the best stock market returns.

Let the market's collective wisdom sift through the election returns. Dow Jones futures could be volatile Tuesday night, but that's not necessarily indicative of how stocks will trade Wednesday. Keep in mind that Dow Jones futures crashed 800 points on election night when Donald Trump pulled off the upset, but rallied for a 1.4% gain Wednesday.

What's at stake for the military

Seeking Alpha: Midterms and Markets

Comments

Popular posts from this blog

The Hidden Agenda Behind the Global Warming Hysteria

Climate change activists are not just interested in reducing carbon emissions in order to "save the planet." Their underlying desire is to overturn capitalism and replace it with socialist governments worldwide. 

Our story starts with the IPCC, or the Intergovernmental Panel on Climate Change, a U.N. organization. "And any settlement of the Global Warming issue by the UN would entail massive transfers of wealth from the citizens of wealthy countries to the politicians and bureaucrats of the poorer countries." (1)

In 1992, at the first U.N. Earth Climate Summit in Rio de Janeiro, Brazil, Program Executive Director Maurice Strong stated, very candidly: 

"We may get to the point where the only way of saving the world will be for industrialized civilization to collapse. Isn’t it our responsibility to bring this about?" (2)

Former U.S. Senator Timothy Wirth (D-CO), then representing the Clinton Administration as U.S. undersecretary of state for global issues, join…

IRA Taxes: Rules to Know and Understand

Article from schwab.com


Individual Retirement Accounts (IRAs) can be a great way to save for retirement because of the tax benefits they can provide. If you’re eligible, you can choose a traditional IRA for an up-front tax deduction and defer paying taxes until you take withdrawals in the future. Or, if eligible, you might opt for a Roth IRA and contribute after-tax money in exchange for tax-free distributions down the road.


So, what's the catch? There are a few. If you run afoul of some of the IRS rules surrounding these accounts, the penalties can be quite stiff—all the way up to a disqualification and taxation of your entire account.

Ignorance of the law is no excuse, and with few exceptions, the IRS isn’t very forgiving of mistakes. Knowing the rules can help you navigate the many potential IRA tax traps you might encounter on your way to retirement.

Keep in mind that when we discuss taxes and penalties, we’re referring to those at the federal level. In most states, you will also…

Critical Financial Steps When Buying a Home

In my lifetime, I have bought six houses, and sold five. I currently live in the sixth, which was new construction, which was an adventure unlike purchasing an existing home, But the principles of buying a home are the same, whether you are purchasing a new home, or an existing home.

1. Understand why you want to buy a house
Purchasing a home is a major decision that shouldn’t be taken lightly. It’s important to define your personal and financial goals before proceeding. Think about factors such as whether you’re craving more stability, whether it makes sense financially and whether you’re prepared for the responsibility of maintaining a home.

You should explore some resources on Renting vs. Buying before you make the decision. I posted a article with a couple of good videos on this subject, and bankrate.com as an informative article here
2. Dig Into Your Credit Reports and Credit Scores Your credit score and history are the first things all lenders will look at to decide whether or …