The CINO’s who voted for Obama based on econonic concerns are in for a surprise - he doesn’t know squat about the economy and if he follows the policies he says he’s going to follow, we’re going to be in double-digit inflation, double-digit interest rates, possibly double digit unemployment, and on and on, in four years from now. Obama will be terrible for the economy and cause the recession to be much worse and much longer than it would have been under McCain. I think the markets dropping nearly 1000 points in these two days following the elections underscores it rather well.
To be fair, the crash has been caused by a Republican administration that fell in love with the weak dollar, and a Fed which allowed it to happen. The blame properly belongs to the Chaimen, but most people don’t understand that the Chairman of the Fed has more power over the economy than he does. Still he appointed a virtual Democrat, a trader whose seems to know little about wealth creation.
Now what can happen is that Obama made decide not to follow the strong dollar path taken by the previous administration but to adopt some mix that would allow a liberal Congress to have the goodies it wants. He’s got to adopt a moderate economic policy or disappoint a lot of liberals.
I believe you to be correct. But I will also hold Bush/ Paulson/ Bernanke accountable for their policies too.