The Blog @ Spolitics

Stocks Plunge 10% After Obama Victory

The people who voted for Obama saw another Kennedy. Those who didn’t saw another Carter. So far, it seems, Wall Street agrees with the latter.

Since Obama’s victory, the Dow has dropped over 900 points — the largest two-day drop since 1987. Coincidence, or change we can believe in?

Another thought: For people looking at our current economic situation, recognizing it’s bad and believing we need a change, remember change can go either way. Bad policies can always make this mess a whole lot worse. And Obama has been promoting some really bad policies — the same ones, in fact, that turned the market crash of 1929 into the Great Depression. Many experts seems to be holding onto hope that he didn’t really mean it. We’ll find out soon enough.