Wednesday, November 07, 2012
Why Obama Matters
Spent nearly the whole day following the US elections, why you might ask. If we were to have a global elections between Obama and Romney, I bet you it would be a landslide favouring Obama. The USA represents democracy for the rest of the world. Most citizens of other countries would watch and hope that the election and political processes in their own country may one day somehow live up to the US standard.
Obama is more than just the leader of the free world. He represents more than that. He made the world less racial. He represents the blurring of how people are treated badly because of the colour of their skin or where they are from. Although far from supporting GLT rights outright, the Democrats is the better of the two. It is a more enveloping and compassionate platform.It embraces.
On the fiscal and economic issues, Obama has done decently after taking over the legacy of issues from the Bush administration. Many things have been done but the real recovery will be slow. You cannot possibly do that overnight, no one can. Hence the re-election is all the more significant in that the economy isn't that well yet.
How will the markets take the Obama win? Markets would have preferred a Romney victory but an Obama victory is also not that bad. The first issue they have to address will be the fiscal cliff coming due in January 2013. It is likely something will be worked out, which will propel markets higher then. There is still tons of liquidity on the sidelines.
To Mitt Romney, who put up a good fight but his platform wasn't that different enough, plus he wasn't clear enough in supporting immigration, illegal aliens, GLT issues and the financial proposals lacked thoroughness and details. Still Mitt, look on the bright side, you could have also been an Astro employee with tons of IPO shares on margin.