Vote for your portfolio

Today's Financial News - Posted November 3, 2008

We are down to the last 48 hours of a presidential campaign that started over four years ago. Now, it seems the more we learn about Obama, the more the nation fears him. It is a shame we do not have more time.

By Andrew Snyder

Baltimore – (TFN): I did my part. After watching the political festivities unfold across the country on my television set, I finally was able to be one of the folks holding a sign, waving a flag, a chanting, “drill, baby, drill” along with a huge audience.

She might have been two hours late to the rally, but Governor Palin eventually showed up and energized the crowd of Pennsylvanians. Signs with messages like, “Rednecks for McCain” and “What’s wrong with the Second Amendment” were held with pride.

I was excited just to get my hands on a Joe-the-Plumber t-shirt.

After spending nearly as much time in Alaska as I have in my home state over the past two years, I could tell Palin felt at the very least, a touch closer to the folks in the state she governs. Pennsylvania and the forty-ninth state have plenty in common. They both have large rural populations and significant sources of natural resources.

Alaska has oil. Pennsylvania has coal. Both are vital to the respective state’s economy.

Energizing the nation

With coal such a hot topic throughout the country, it is no surprise Palin spent plenty of time discussing McCain’s plans for energy industry. Of course, she discussed Obama’s not-so-appealing ideas on the nation’s coal industry.

Now that the tapes from Obama’s January 17 interview are making headlines, McCain and Palin have some strong talking points on the final day of their campaign.

If you have not yet heard, the democratic hopeful told a San Francisco-based radio station that under his plan, “if somebody wants to build a coal-powered plant, they can; it’s just that it will bankrupt them because they’re going to be charged a huge sum for all that greenhouse gas that’s being emitted.”

It is comments like this one that make me believe the price of just about everything is going to rise on Tuesday. As if the scars of deregulation of the energy industry have not already had enough detrimental impact on the nation (electricity prices are rising by as much as 100% in some areas), Obama wants to force all of us to pay even more for the energy source that feeds 49% of the nation’s electricity demand.

If you are an investor, you should be cringing over this notion. The decline in last quarter’s GDP figure can readily be attributed to rising energy prices. And Obama wants to push prices even higher through monumental fees on the coal industry an increased taxes on the oil sector. It will add incredible resistance to the nation’s future economic growth.

It is a good thing he will give “95%” of us that measly tax break. We will need every penny of it to pay for our energy. I just hope he gives us a tax cut to make up for the pain he will create in the equities market.

Tomorrow’s going to be a huge day for the nation and its investors. Right now, it looks like we have an intruder to the capitalist society on his way to the White House. If you do not want to see that happen, be sure to get out and vote.

If you are not motivated enough to vote for your country, at least vote for your portfolio.