Tuesday, November 25, 2008

Obamanomics



The stock market downturn on Nov 5th struck me as an obvious no-vote for the president elect's perceived economic plans. And it's been kind of fun watching my local news radio station come up with excuses for the downturn, one after another, all the while avoiding any consideration that wealth redistribution could have anything to do with it.

So I was amused yesterday when we finally see two good market days in a row and my local station finally sees Obama's hand in it. "He announced his economic team" Sure. Couldn't have anything to do with the report that he may delay his tax hikes for the "rich".

I can't predict markets, but I'm not enthusiastic.

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