Wednesday, January 21, 2009

New President

So we finally get our new President.  There is allot of excitement and fan fare about Obama.  I admit that I did not vote for him, but I think we cant do much worst then Bush turned out to be.  

Bush was really disappointing and while I did not support Obama, I am glad he is our President.  If nothing else, Obama will represent to the World that America can be truly great and compassionate.  

Obama does seem like a pragmatist and a centrist thinker.  Yes, he is left leaning and has some liberal tendencies, but he may turn out to be more like Bill Clinton, "the best Democratic President a Republican can ask for." then like Hillary, which would have been far worst.

The only thing that really bothers me is how the main stream media treats Obama.  The media just love Obama!  Yes, we all know that TV media are mostly left leaning, liberal Democrats but can't they try to be  more objective in their reporting.  The media cant say anything bad about Obama. But given the opportunity with Bush, they always portray bad news as negatively as possible with Bush.  
Now, I mainly watch the Business News Channels.  So I always see the media always trying to correlate the stock market to political events.  It is really crazy business if anyone really thinks there is a real direct relationship.  But the media tries and whenever Bush gave a speech, CNBC would show the Dow Jones average and always say that the Dow "dropped" after Bush's speech.  

Yet, when Obama won the election and the stock market went down, huge!!  The media was silent, only excusing Obama saying the market when down despite Obama winning because it was a "sell the news event.."  and people anticipated the election and sold on the news, after he got elected.   

Well, look at the chart right after Obama won the election, the Dow was crashed over 1000pts.. and within 2 weeks it fell over 2000pts.  The market said very clearly that it is not in favor of Obama.  I never mentioned the 2000pts drop during the summer when the polls where showing Obama winning.

It's no secret that most Wall Street, stock market players are conservative Republicans and would prefer a Republican in the Office.  So it should be no surprise that the market has gone down because of the fear of what a Liberal Democratic President would do.  

I have a simple theory to why the market started dropping since the Summer of 2008.  It was seeing the Obama was winning in the polls and  people in the market got scared.  Democrats are typically anti-business and pro-government.  So of course if you see this coming and have money in Stocks wouldn't you pull your money out too?  

Has anyone in the main stream media picked up on this observation?  No.... Even on the day of Obama's inauguration the Dow drops over 300pts and still you see no headlines that the market is disappointed with Obama's Presidency.  The media gives Obama a pass, but if Bush was still President they would say "the market tumbles on Bushes election"....  Media bias, it has to stop!

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