Stimulus Bill, Competing Philosophies
The debate is basically between: 1) continuing the trickle down philosophy that has created the problem over the last 28 years and 2) changing the paradigm and bringing the power back to the people. It is a big change and the fight will not end easily.
The Republican response “Power before People“, is the essence of their approach. Their public comments are that they wants America to go into the gutter so that the Republicans can get back in power. Obama while he hoped for something better in a Republican response, has known and said all along that it was not going to be a walk in the park to undo 28 years of the gutting of America, but the people will prevail.
No doubt Republicans own a vast majority of the stock market valuation and they keep voting on America by continued selling. That is good for the Commonwealth.
So this is Change in the real sense of the word and the market is acting scared. There is no Change in our position here. As we have said many times, the downside risk is smaller than the upside potential at this moment, 150 points down, 300 up on the S&P.
The NAV on the EMA ETF Fund was 969 at Fridays close.
8:18 AM CST