Posted on 11/07/2012 12:29:06 PM PST by Tailgunner Joe
The glow from Barack Obama's re-election as US president was fading already this afternoon as markets tumbled just hours after he declared victory.
The fall in market fortunes came as analysts looked ahead to the so-called US fiscal cliff, and new figures raised fresh concerns over the health of the European economy.
Mr Obama celebrated his win by immediately promising to reach across America’s bitter political divide, as confrontation loomed with Republicans over reducing the country’s deficit.
Striking a conciliatory tone in his acceptance speech in the early hours of Wednesday before thousands of cheering supporters in Chicago, he said Americans had “voted for action, not politics as usual".
"I have always believed that hope is that stubborn thing inside us that insists, despite all the evidence to the contrary, that something better awaits us so long as we have the courage to keep reaching, to keep working, to keep fighting," he said.
Despite a stiff challenge by Republican Mitt Romney, who campaigned in swing states even on polling day, the president secured a comfortable win of 303 to 206 Electoral College votes, with only the state of Florida still to be declared.
But Mr Obama's majority in the popular vote was just 1 per cent, and in their other choices on Tuesday’s ballot, Americans preserved the divided government that has made major legislation so difficult to pass for the past two years.
Initially, the markets bounced on Mr Obama's win, but by this afternoon the gains had been reversed. The Dow Jones Industrial Average tumbled 1.8pc and the S&P 500 dropped 1.6pc this afternoon. The FTSE 100 is down 1.3 pc, while French, Spanish, Italian and German have all fallen.
(Excerpt) Read more at telegraph.co.uk ...
I pray that everyone here understands what is ahead and has prepared accordinly. The ‘Progressives’ mean to bring this once great nation on par with the EU.
Reach across the isle...
Like he did on health care when he passed it in the dead of night on like a friday with no rebpublican support.
When I look at the electoral maps I still can’t believe he won. Hell the entire country is red except along the coasts
GOP - PLEASE reach across the isle. Reach with a right hook followed by a left upper cut.
Karl Denninger says “watch for market dislocations.”
http://www.youtube.com/watch?v=vyUSvy4LUZk
NO COMPROMISE. NOT NOW! NOT EVER!!!
NO COMPROMISE. NOT NOW! NOT EVER!!!
I propose new voting laws.
If you are on welfare you can’t vote
If you are in prison you can’t vote
If you weren’t born in this country you can’t vote
If you are on unemployment for like 9 years you can’t vote
Too me there is no incentive to vote republican if you’re on the government dime. Get your job back...get off welfare then you can vote.
Yes I know i’m harsh right now....but right now this second this is how I feel. I almost feel like you should have to pass a basic politics test before you can vote. I bet half of the Obama supporters couldn’t name 10 people in government
I’m with this. If you ran in my district on this platform, I’d be with you 100%
The problem when it comes to national elections is that the republican establishment always nominates the guys they think are the most likeable. The reason they do that is because they know how hard the media will be on him/her. That means the electorate is left with the choice of 1A or 1B.
If your gonna vote socialist pig...might as well do it with the best socialist pig...ie obama.
We need a clear choice between them nationally. I felt that our guys once again played too nice meanwhile the bully just said “ thanks for your consideration”while he buried our heads in the sand.
Well said!
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