Well Barack Obama has been the president elect now for 8 days and the market has fallen 661 Points.
So I am not advocating that this is Barack Obama’s fault because it isn’t. He hasn’t had time to implement any changes and he is not President yet. But what is apparent is that the markets are in fact just the opposite. The market makers are not influenced or excited that Barack is President Elect. Barack Obama as of today has not been an inspiration to bolster confidence in the public sector when it comes to the economy.
I know it is early. But what strikes me the most is the huge confidence level that all of Barack’s voters were showing during the election. Why is that confidence not carrying over in the economy and starting to show some excitement that the candidate of choice has won the election?
I guess the next opportunity for this to happen will be January 20th. But by then a lot of retail small businesses will have shuttered over the Season’s holidays when those businesses should be having the best time of year in earnings.
Time will tell