Election fall out - stock markets real trouble comes from legislative oversight of the corporate corruption, price gouging and outright lawlessness
Peter Oberois
Nov. 12, 2006

Wall Street did not expect it. The expectation was Democrats would barely take the House. Instead a stealth bloodless revolution took place. Americans reasserted their democracy and told the world – ‘we know how to discipline our politicians’.

The Senate and House will go after the corrupt corporations to unveil hundreds of ‘Enrons’. The corporate boardrooms are so corrupt that when the facts slowly come out, it will be appalling. Manipulation of corporate financial results, options backdating, lack of corporate Governance are simply put cheating the investors and customers. That is exactly what will be revealed in the coming months and years.

Starting March-April 2007 the stock market will take a nose dive. As financials get corrected, corporate executives are held responsible for price gouging, mismanagement and outright corruption in publicly held companies, things will turn real ugly.

The Democrats will have to be careful. If this is done hastily, it can bring in a depression in the economy. The stock market is vulnerable here. Smart money is pulling money out from the market since early 2006. They will be definitely out by beginning of 2007.

Election fall out - stock markets real trouble comes from legislative oversight of the corporate corruption, price gouging and outright lawlessness.

Election fall out - stock markets real trouble comes from legislative oversight of the corporate corruption, price gouging and outright lawlessness
Peter Oberois
Wall Street did not expect it. The expectation was Democrats would barely take the House. Instead a stealth bloodless revolution took place. Americans reasserted their democracy and told the world – ‘we know how to discipline our politicians’.
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The effect of election results on Gold price in coming months and years
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Accountability, transparency and audit trail in Government spending and contract awards bullish for bonds
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The long bond rates will plummet in this environment of rejuvenated fiscal management (pay as you go) coupled with the current super stagnation in the economy.
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Use of broad money supply can uncover the stealth liquidity driven inflation – Fed and ECB differ on over monetary strategy
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The prices are going up without appropriate rise in salaries. The inflation and stagnation are hidden below the rug through the mechanism of counting inflation with little regard to the broad rise in money supply.
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After US $8 billion acquisition of Anglo-Dutch Corus India Tata group is set to eneter the list of Fortune 500 companies
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Currently the other six Indian giants are Indian Oil, Reliance Industries, Bharat Petroleum, Hindustan Petroleum, Oil and Natural Gas Corp and State Bank of India.
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Sarbanes-Oxley gone but corporate boardrooms’ worst nightmare has just started that can push Dow to 5000
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Sarbanes-Oxley law that requires publicly traded companies to review controls for ensuring accurate financial reports and have them tested by outside auditors is gone but corporate boardrooms nightmare just started....
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