Flight Of The Investor Class
Defections are endangering the GOP's hold on power
The investor class is souring on George W. Bush and the Republicans. People who call themselves investors (and they aren't all rich) are part of the reason Bush's approval ratings have dropped to an all-time low. Hitoshi Tada has voted for the President twice, but the 27-year-old St. Louis resident and mutual fund investor says he's disappointed by Bush's "seeming lack of direction or progress on any front." Tada, who describes himself as "conservative across the board," isn't impressed by the management skills of America's first MBA President. "He certainly delegates and lets others screw up," Tada says. He calls the scandal- ridden Republican Congress "a hapless, self-serving mess."Now these investors don't like the Democrats either but they may simply stay away from the polls at a time when the Democrats are mad as hell and are more likely than ever to vote.
The President, who received the votes of 61% of investors in 2004, now gets favorable job approval ratings from just 43%, according to Zogby International Inc., a nonpartisan polling firm. Investors' complaints include the Administration's handling of Hurricane Katrina and the Dubai Ports deal, the management of the Iraq war, the $8.2 trillion national debt, soaring gasoline prices, and immigration policy. "A comfortable investor class votes its values and favors Republicans," says pollster Thomas H. Riehle of RT Strategies. "A nervous investor class votes its fears and punishes Republican incumbents."
I think this was predictable. You can only please two groups who's interests are often in conflict for so long.