Hmmm. Interesting. His first day on the job, not only does the DOW drop nearly 500 points and the NASDAQ nearly 100, but the head smart dudes over at Reuters are predicting a massive level of layoffs for just about every industry in 2009. What does this mean? Well, it means that while Americans put their faith in Obama’s wealth redistribution strategy, the business community (you know… those people that employ all of us) does not share this optimism.
True this is just day one, things could look up… but history tells me that if Obama does everything he said he is going to do, it won’t. Now is the time to really get secure in your job, grow a little bit, maybe learn a new skill and make yourself your more marketable… I am VERY happy to be a government employee right now.
On an unrelated note, what has become of all the Obama campaign supporters after the storm? This video will let you know…
Obama Win Causes Obsessive Supporters To Realize How Empty Their Lives Are
You understand he’s the President-Elect and not the current President of the United States right? Obama doesn’t start the job until Jan. 29th. The problems we are facing in our economy are a direct result of Republican foreign and economic policies unfortunately. The majority of Americans understood this and now we have a Democrat in the White House.
Hey Austin,
Thanks for the comment.
I do get that Obama is currently the President Elect. The stock market however shifts on day to day perceptions and perspectives of what the economy is doing now as well as “best guess” predictions of what it could be doing in the near future. With Obama wanting to raise taxes on businesses, my fear is that businesses won’t stand for lowered profits, but rather cut research, raise prices to the consumers (you and me) and lay people off, which cuts even more money from income taxes.
The reason the stocked market tanked even more with the election of Obama, seems to be due to businesses worried about how his tax plan will effect their profit so they are starting to pull out of the market.
It will be very interesting to see what happens…
As for the problems we’re facing now, that is due directly to the criminal abuse of Fanny and Freddy (on the part of both parties) and the government have to make money up to cover these up. But that’s a whole other topic…