The dow is now down 2000 points in just 15 days since Obama's victory. That is change you can believe in as in the assets in your investment account changes to a lower value.
What did you expect? Companies and investors are scared as hell he will raise taxes on companies and individuals making over 200K. You have to ask yourself. Would you be more willing to go long on the market right now if there was a president who was cutting taxes or increasing taxes? Extremely easy answer. Obama's approval rating is going to be lower than Bush's in one year. Not only is he deciding to invade afghanistan (there is no difference between afghanistan and iraq when it comes to the far left) but if he decides to raise taxes the economy will get even worse and he will lose all of his moderate to halfway liberal support. If he decides to go back on his word and leave taxes where they are he will completely lose his far left support which will then have a huge impact on the media and all the halfway liberals. By the way even if he chooses to not raise taxes he will still be screwed with the economy.
As liberal as he is, Obama won't raise taxes because his econ advisors know such a move would be political and financial suicide. He will certainly run the deficit though, which isn't necessarily bad for the economy. He need to publicly come out against any tax increase as soon as he is inaugurated.
I think you just plain outright don't like negroes when it comes down to it. You are obviously much better than them...
Genius, Thy Name Is Obama by Ann Coulter "With Time magazine comparing Obama to Jesus, I guess we should be relieved that, this week, liberals are only comparing him to Abraham Lincoln. The one thing every liberal on TV seems to know about Lincoln is that he put rivals in his cabinet, as subtly indicated in the title to historian and plagiarist Doris Kearns Goodwin's book: "Team of Rivals: The Political Genius of Abraham Lincoln." Like Lincoln, Goodwin is always open to contributions from her rivals, although Lincoln was better at crediting their words. And hasn't Obama talked to former rival Hillary about becoming his secretary of state? Hasn't he had a sit-down with Sen. John McCain? Did I imagine this, or is he even now brokering peace talks between Joy Behar and Elisabeth Hasselbeck? Ergo: Obama is a genius. Indeed, historians have just named Obama the best president-elect ever. I don't recall the media swooning when President George W. Bush reached out to rivals, such as Sen. Teddy Kennedy, who was asked to co-write Bush's education bill. In fact, the way I remember it, Bush is liberals' most hated president ever (only because they can't remember George Washington or they'd hate him, too). And yet no modern president has ever done more to bridge partisan divides and show respect to his opponents than George W. Bush. I do not say this with admiration; it is simply a fact. Throughout the year and again in his convention speech during the 2000 presidential campaign, Gov. Bush bragged that he had "no stake in the bitter arguments of the last few years. I want to change the tone of Washington to one of civility and respect." (As a side note: Bush would never have been elected president if not for the "bitter arguments of the last few years," in which Republicans exposed and impeached Bill Clinton, which then killed Al Gore's presidential ambitions. So you're welcome.) But the point is: Bush was massively chummy with his enemies -- Democrats, communists and the Congressional Black Caucus. So chummy that even they began to wonder if he was a little daft. In his first few weeks in office, Bush met with more than 150 members of Congress, half of them Democrats -- including five events with America's leading liberal menace, Sen. Teddy Kennedy. Bush's very first social event at the White House was movie night with the Kennedy family to watch "Thirteen Days," a falsely heroic portrayal of JFK's disastrous handling of the Cuban Missile Crisis. This suggests to me that Obama's first social move as president will have to be to invite Lindsey Graham over to a screening of "Larry the Cable Guy Saves Christmas." Naturally, Bush also had primary rival John McCain and his wife, Cindy, over to dinner at the White House. Bush was the first president in memory to attend the congressional retreats of the opposing party. After two weeks in office, a Wall Street Journal column noted that Bush's charm offensive was "disorienting the local Hatfields and McCoys." (Again: You're welcome.) Bush even made a special point to meet with the Congressional Black Caucus upon taking office, which -- given their feelings toward Bush -- would be the equivalent of Obama holding a special meet-and-greet session with the upper management of the Ku Klux Klan. Bush invited the Democratic black mayor of the District of Columbia to the White House, attended a majority black District church service and appointed the first black secretary of state. And that was all before Feb. 1, 2001. (By the end of his presidency, he would have appointed the first two black secretaries of state.) Though it was small potatoes after all that palling around with Teddy Kennedy, this is the same George W. Bush who had Muslim "spiritual leaders" to the White House a week after 9/11. Bush also famously said of then-Russian president, former KGB agent Vladimir Putin, that he looked him in the eye and "was able to get a sense of his soul." (This made Bush's critics almost as apoplectic as if he had said, "I looked into Putin's eyes and, frankly, I just don't trust the guy." No matter what Bush did, liberals were incensed.) As president, Bush scuttled the playing of "Hail to the Chief" in his honor and repeatedly reminded his staff to act humbly. This is as opposed to Obama, who I believe is the first president-elect in history to have his own "Office of the President-elect" seal commissioned. Like I always say, even if you don't like the current president-elect, you should still have some respect for the office of the presidency-elect."
I think it is fairly obvious that there is an Obama effect at work here. How significant, hard to say. This action should put into perspective the many studies that are always trotted out to show that the market performs better under democrats. To be accurate, those studies should begin the day after the election, not year end when investors have dumped stocks in anticipation of an investor unfriendly administration. Obama may well produce good numbers, since he will be starting at the bottom of the worst sell off in 70 years.
Good point, AAA, and I agree about the short term, many are selling out of fear about what he'll do. But, don't forget that there's a deeper reality here, that the US President has increasingly little to do with the fate of the global markets, far more important issues are at play and they determine what happens to everyone's wealth. We saw price of oil almost triple in a few months (mostly the result of speculation) which threatened to destabilize many economies, including ours, and redraw the "influence" geopolitical maps all over the world. Not to mention all those alternative energy technologies that were brought out and touted as the savior of everything. Suddenly Iran had lots of money to buy nuclear technology, etc etc. What could Bush or our Congress do? Close to nothing, not really. Therefore, I don't think Obama will be the cause of much, the tables are turning and we are not the global puppeteers any more, there's a new international order getting stronger by the minute and we are just a part of it.
I'm so glad the market and real estate didn't start tanking until it was clear that Obama had won. Not. Accept the 'Bush Decession,' you Bush boot-lickers.