The dust is beginning to settle. The best of us are still trying to figure out how a relatively inexperienced African-American senator managed to charm his way into our children’s history books. Speaking at an Obama rally in Florida this past Saturday, comedian Chris Rock seemed certain why Barack Obama would win the race to the White House:
“He got a good chance because he’s Kenyan. And you can’t bet a Kenyan at a race. Nothing like a Kenyan, boy. You got on a plane right now to New York and I got on a Kenyan, I’d beat you there.”
I’ll buy that one. The big question now is: Can Barack Obama also sweep and dust the floor? There’s a lot of dirt in Washington from the past eight years that needs cleaning up! (Hat-tip to the St. Petersburg Times).
11 Comments
November 6, 2008 at 1:02 pm
Will he bomb Pakistan? Should we Pakistanis be celebrating or preparing for battle? Will Obama lead America into a disastrous adventure in Pakistan?
Please leave ure thoughts
http://jasminefrompakistan.wordpress.com/
November 6, 2008 at 1:10 pm
Jasminefrompakistan – thanks for stopping over. Fair question – I wish I had the answer. I’ve just been to your blog – did I just see you use the term “negroes” on there?
November 6, 2008 at 1:17 pm
I think this is one of the main reasons that Obama won
http://rickywood.wordpress.com/2008/11/06/sarah-palin-im-sorry-if-i-cost-mccain-even-one-vote/
November 6, 2008 at 1:22 pm
Bchboy1 – Oh, and THAT too! Lol.
November 6, 2008 at 2:22 pm
hi, ok, the blog is actually aimed mostly at Pakistanis, so that term u mentioned is there, but i am removing it to replace with African American.
i hope no offence is taken, cos none is intended, obviously.
ty
November 7, 2008 at 6:10 am
Well I think he understands that demand is what makes the economy grow. McCains plan to give tax credits to companies was a bad idea to begin with. Giving more money to companies who will inturn give it out as Bonuses, and Dividends. taking a chance that they will turn that money into new jobs is like playing Russian Roulette with the economy.
Obama understood what drives an economy is demand so by giving the largest portion of the of the population more money to spend will in-turn increase demand which in turn when companies cant keep up with the demand they will be forced to expand and create new jobs. Which will also create more profits so that everybody in the end is happy. McCain didnt understand that.
I think even if the rich decide to pull out of the market in retaliation to Obamas election and it crashes it will recover eventually, in any case where will they put their money if they take it out of the Stock Market. If they put it in the money market it will end up in the Stock Market if they buy Goverment bonds Obama will use it and you know the return on bonds is so low a reflection of the risk the money has. I dont think there will be a mass exodus to China or other Asian markets as those economies have problems of their own, Europe has strict operating rules which in turn would reduce returns on investment. Unless they think of heading to Africa which I dont think with the corrupt politicians there they would not see a return on investment at all. So my guess is they are stuck, and have to live with tax increase till another republican wins the white house which i dont think will happen for the next 16 years.
November 7, 2008 at 8:02 am
Bekso001 – Sound analysis – I’d only say though that the current economic environment may require a whole lot more than the fundamental policies Obama laid out during his campaign. I believe there are still tough times ahead that require thinking outside the box. I’m also keen to know who Obama picks as his Treasury Secretary and what sort of mettle the team around him will have. I don’t foresee a honeymoon period either. What he does have is an overwhelming mandate. Let’s buckle up and see how he uses it. As always – great hearing from you!
November 7, 2008 at 12:35 pm
Well the truth is this crisis is truly a problem. But I am convinced it ain’t as bad it seems. I think this crisis has been orchestrated by a few extremely wealthy individuals. I don’t think that that sub-prime mortgages were really the cause of this mess. I have taken time to really assess this situation and am convinced otherwise.
I will explain, I have seen this happen time and time again as I have work on an exchange although not as sophisticated as that in the developed countries but they all have the same fundamental principles.
I don’t believe in conspiracy theories but, try this for a change. There are people I have seen who deliberately depress prices in the market so as to buy the stocks cheaper. When people drop a large volume of shares there is usually panic and people always think something wrong and hence panic selling ensues then those who would have sold wait till they feel the market is reaching the bottom and start buying back. This is almost like short selling but is very sophisticated. Usually they don’t use the same accounts to do this so the shares on repurchase will not look like a repurchase and also the volume on repurchase will be much larger hence there will not be suspected of any unethical practices. The reason I believe this is true is this since the market started tumbling people have been selling their stocks in large volumes but has anyone ever stopped to think who is buying, why they are going in when everyone else is moving out. I think if we take a look at those that are buy it is most likely to be the same people who started selling in the first place.
What I can tell you is this after this economical storm the financial landscape will have changed and you will see people were rich being even more obscenely richer, and people like Trump owning even more property.
November 7, 2008 at 1:26 pm
Beks – Sounds like you’re referring to “short-selling”? Yes hedge funds (and others) definitely plundered and took advantage of that. I do think it’s bigger than that, even though the audit trail leading to the true source of the problem is shrouded in mist and appears to lead nowhere.
November 7, 2008 at 2:11 pm
yeap but trust me if they really wanted to find the culprits i could volunteer my expertise, just that forensic audit is life threatening. and i still have plans for a future with Zah.
November 7, 2008 at 2:15 pm
Beks lol – yes – there are more important things to live for. Always good to hear your 2 pence.