Will the Election Affect the Coin Market?

Coinosaurus

This will hit different market segments differently - but if Kerry gets elected, I predict less discretionary income for a certain range of collectors. Opposite for Bush. I'm thinking my federal tax bill will go up 10% or so if the Democrats get in. Between the wacky prices and possible tax hit, I'm thinking I may back off a bit in 2005.

DesertRat

I think you have a point. Taxes we know will definitely go up since Kerry has already said he would raise taxes. And the Bush tax cut will go away for everyone except those who don't pay taxes.

nederveit

I believe Kerry's proposed tax hike is for couples that make more than $225,000 per year, and something like $150,000 a year for single wage earners.

That won't affect me!

tradedollarnut

You can pay it now.... or pay it later. It's a zero sum game.

Flash

<< <i>- but if Kerry gets elected, I predict less discretionary income for a certain range of collectors. >>



I don't think you need to be worrying much about this happening.

Coinosaurus

TDN-

I don't think it is a zero sum game. What's the end game? It's that the US prints a fifty trillion dollar bill and hands it to all our foreign creditors. Well, it won't come to that, but you get the idea.

Both parties seem pretty bent on adding to the debt (yes, Clinton briefly reversed the trend) and the chances of it ever being paid off, are, well pretty much zilch.

Buying coins and then 'fessing up to the wife - that's a REAL zero sum game

ccex

If Bush is re-elected, my tax refund will not amount to more than the going rate for a GSA CC Morgan. If Kerry is elected, my take home pay will shrink, but the not-for-profit for which I work will be better funded, so my coin budget might actually increase.

To answer the question in this thread's topic, I expect that the big-ticket dealers will be better off under Bush. Since the big-ticket dealers define the coin market, this is an easy question to answer.

mintluster

Nope, not one bit.
Why? Unlike past bull run coin markets, this one is TOTALLY collector driven.

sliderider

The question I want answered is if the government creates money, how can we be in debt?? Shouldn't the government be able to create all the money it needs without borrowing? Who do we owe all this money to, anyway??

JoeHolt

What do you mean I dont have Money I still have Checks oh heheheh

Newmismatist

<< <i>You can pay it now.... or pay it later. It's a zero sum game. >>

airplanenut

<< <i>The question I want answered is if the government creates money, how can we be in debt?? Shouldn't the government be able to create all the money it needs without borrowing? Who do we owe all this money to, anyway?? >>

If we create more money, we have inflation, and our money becomes worthless.

You'll get different responses for why we're in debt. I'll answer the simple way--because someone has spent a lot more money than we have.

BAJJERFAN

Well Kerry can't just raise taxes by himself. If he wins and ends up with a Republican controlled Congress he will have a hard time getting anything done.

FatMan

The election will have little effect on the coin market or the economy. As long as the Senate needs a supermajority to get anything done nothing of any magnatude will be legislated. And, that is a good thing.

roadrunner

The FED will continue to inflate regardless of who gets elected. The other alternative is to plunge the nation into a bad recession. That's not going to happen, at least not willfully. Stagflation will result in 2005 and beyond because of the monetary excesses delivered by GW via the FED. This cannot be stopped, there has been too much easy money and credit dumped into the market.
Our dollar is going to take a dumper and hence gold, silver, and coins will move in relation to it. Coin prices will go up, especially the more speculative issues.

So now, no effect on the coin market. What's done is done and it cannot be changed at this point regardless who gets into office.

roadrunner

Bear

Im with roadrunner.

roadrunner

Bear, I thnk you're the first one to agree with me on anything in the past few weeks!

roadrunner

techeff

I agree with Bear. Sorry RR, I didn't want to make it two people agreeing with you.

traderdave

I agree with Roadrunner too. The plan will continue no matter which cousin gets in.

Bear

ddink

Nah, RR is his usual gloom-and-doom self concerning economics.



<< <i>(yes, Clinton briefly reversed the trend) >>



In order to be accurate, one would edit that comment to say "A Republican-controlled Congress briefly reversed the trend."

tradedollarnut

In order to be accurate, one would edit that comment to say "A Republican-controlled Congress briefly reversed the trend."

heh?

ddink

TDN: In my experience, the president is almost universally unfairly "blamed" for any good or bad thing that happens during their term (at least economically). Did we have a recession? The President is at fault. Did the economy do well? The President did a good job. Forget the legislature, forget the Fed, forget everyone else. It's clearly the President that did it.

Any surplus was due to either the more efficient collection of taxes by the IRS, or, more likely, due to legislation passed (or not passed, in the case of bills that would increase spending) by Congress.

roadrunner

Nah, RR is his usual gloom-and-doom self concerning economics.

That's why they call economics the "dismal science!" You cannot party hardy with economics. But if smoething comes along soon that's reason for rejoicing, I'll be the first to post it. But I'm not holding my breath too long on this one.

And frankly, it is no science, but merely the collection of empirical data to come up with some generalized rules and equations.
As soon as you have something that looks like it works, smoething comes along to disprove it.

roadrunner

Baley

Who do we owe all this money to, anyway??

Holders of T-bonds and T-bills?