An Obama Panic? Pollsters tell us that the world is enamored with Obama but the markets certainly are not. The closer an Obama presidency comes to materializing, the lower the markets drop. The phenomenon has become so obvious that pundits can no longer avoid mentioning it even if only to downplay it importance as the WSJ editorial does:
Credit markets have started to thaw, yet stocks and the larger economy keep sliding. What’s going on? Among the problems are the reality of recession and the uncertainty over Barack Obama’s policies.
US News and World Report blogger muses that The Barack Obama Discount May Be Real Indeed it may. Not only are his Socialist “spread the wealth” policies bound to depress an already depressed economy but the prospect of another world crisis so candidly predicted by Joe Biden is bound to add fuel to the depression fire. If there is anything that is sure to rattle markets more than predictions of an upcoming international crisis, it is a prediction of a crisis involving directly the US, another 9/11.
Why are world government unable to contain the market tsunami regardless of the huge sums of public money they are throwing at it? Because prospect of an inexperiened radical American president during these troubled times leaves them jittery and rightly so.