Wall Street battens down hatches, warns investors about Kamala's price controls -report

[mystery-ak]

August 18, 2024
Wall Street battens down hatches, warns investors about Kamala's price controls -report
By Monica Showalter

You don't have to like Wall Street to recognize that they know which side of the slice their bread is buttered on. They know their onions what makes them money and what doesn't, premised on what makes an economy go fast, and what makes an economy screech to a halt.

So now we have this:

https://twitter.com/CGasparino/status/1824902478678331465

Kamala Harris unveiled her economic plan, with its vast government spending to create more inflation, and Maduro-style price controls to supposedly stop it, and Wall Street is starting to scramble. Nobody wants to be the last one out of the pool with that kind of an event.

They know how this story ends, they've seen it time and again, with the Mexican peso meltdown, the Asian crisis, the S&L crisis, the housing crisis, the Russia ruble crisis, the Long Term Capital Management bailout, China's serial devaluations, Argentina's serial defaults, and plenty of other crises.

more
https://www.americanthinker.com/blog/2024/08/wall_street_battens_down_the_hatches_to_warn_investors_about_the_kamunist_surge_of_price_controls_report.html

[catfish1957]

You think price controls will sink the market.

Just wait until she legislates taxation of urealized capital gains.

[GrouchoTex]

You think price controls will sink the market.

Just wait until she legislates taxation of urealized capital gains.

I have always feared the the left would find a way into my 401K.
They talked about it during Obama's presidency, in case anyone has forgotten that.

[Fishrrman]

Title and premise:
"Wall Street battens down hatches, warns investors about Kamala's price controls"

(sigh)
To a significant percentage of the population, the notion of "price controls" has appeal that is both attractive and desirable.

I'll reckon at least 40%.
Maybe 45%.
Maybe even more...

[roamer_1]

You think price controls will sink the market.

Just wait until she legislates taxation of urealized capital gains.

You mean like Sarah Palin did up in AK?
Oh wait... That was retroactive windfall tax ... So the profits were realized already.

[Kamaji]

You think price controls will sink the market.

Just wait until she legislates taxation of urealized capital gains.

That probably wouldn't have that much of an effect on most of the big players in the financial markets, unless they were to treat unrealized gains and losses the way that they're treated under the mark-to-market treatment for PFICs under IRC sec. 1296, in which all MTM gains are recognized for tax purposes, but MTM losses are only recognized to the extent of prior MTM gains.