Wednesday, November 05, 2008

But...But....The One Has Been Elected !

Ah, back to reality - a place where deeds matter more than words, and Barack Obama has a ton of the latter and none of the former:

Stocks fall as investors ponder Obama presidency

A case of post-election nerves sent stocks lower Wednesday as investors began questioning what impact a Barack Obama presidency will have on business and the overall economy. The Dow Jones industrials fell more than 300 points and the major indexes all fell more than 3 percent

Analysts said they the market is already growing anxious about who Obama selects as the next Treasury Secretary, as well as who he picks for other Cabinet positions.
"A lot of the policy going forward is going to have an effect on the various sectors of the market," said Joe Keetle, senior wealth manager for Dawson Wealth Management.

Obama's victory means that industries such as oil and gas producers, utilities and pharmaceuticals may face greater regulation and even taxes, while labor unions and automakers are expected to benefit.

In addition, banks, insurance companies, hedge funds and the rest of the financial sector will almost certainly face attempts at a regulatory overhaul by the Democratic Congress next year.

Populist rage sounds great on the trail...but does Barack even have a clue about how his policies would impoverish millions of Americans, and perhaps more importantly (to Obama) - how they would hurt all those poor foreigners abroad who count on American investment and business to eke out their own meager existence.

This blog says - no, Obama hasn't a clue. And he will viciously hurt those whom he claims to be sent to protect. And it will be ironic, and instructive...

The Dow, as of 3:45 PM today, the first day of the rest of our lives:

DJIA 9,163.40 -461.88

1 comment:

knowitall said...

Yeah, that one who will lead the liberal illuminati in the new direction. A direction towards the old failed Clinton Administration.