Thursday, November 06, 2008


Amidst the misguided euphoria about the election of a Democratic Party president it is a sobering thought that whether there is a Republican or Democratic legislation capitalism carries on as usual. "Although there is a widespread belief that Wall Street prefers Republican presidents, most studies show that the market has actually done better under Democrats. Since 1901, the Standard & Poor's 500 index rose 7.2 percent a year on average under Democratic presidents and 3.2 percent under Republicans, according to Ned Davis Research. Looking at a more recent time period - 1944 through mid-2008 - the S&P was up 10.7 percent a year on average with a Democrat in the White House versus 8 percent with a Republican, according to International Strategy & Investment." ( San Francisco Chronicle, 4 November)
Changing the ruling party doesn't change the exploitation system that is capitalism. RD

No comments: