Bush


PRESIDENT Obama!! Let’s relish in that moment. President Obama….

Okay, the celebration is over now. His address was somber. Very realistic. And there is a reason why. We have a long, tough road to rebuild confidence in the future of America’s economy.

The proof was in the Dow today. Right now, the Dow is inching towards 8000 down 215 points. This may partly be due to the somberness of the speech. Because why would President Obama take the one occasion when everyone around the world is watching to talk about the troubles that lie ahead if we weren’t in a dire period in history?

This is why I’m continuing to look at bonds for money that’s needed within 3-5 years. Another option may be short-term Foreign Exchange trading. But the stock market–the market where equity can be given and taken away from public corporations by investors–is iffy in the short term (albeit one of the best inflation defenses in the long term).

As President Obama said, the situation and the tools are new. So the next 6 months at minimum for a person in finance are synonymous to walking through a dark room with a blindfold. Although, if you’re experienced in trading during uncertain times, that experience is your guide dog or walking stick…I think you get my point.

But even though there is uncertainty, no doubt he’s the perfect leader for today. He’s inspiring, and the majority of Americans have confidence in his ability to lead. But is there enough confidence to encourage Americans to put their hard-earned dollars into our economy via spending and investing, and not in their mattresses and money markets?

I’ll tell you this much, however. I think Bush is a great guy. He mouthed “You’ll have the time of your life, I promise you” to Michelle Obama as he got on his helicopter. He’s genuine, and no doubt I’d enjoy having a beer with him.

But his administration made bad choices, and governed with fear. So if there’s ever a way to boost American’s confidence that change has arrived, showing the picture below may be the way:

bush goodbye Change Has Arrived, but the Dow is Unimpressed
President Obama, it’s ok to smile today. It may even help the Dow.

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I voted for President-elect Obama, and am one of many Americans waiting with anticipation for him to release his domestic and foreign agendas.

But this video left me empty. He says all that we “need” to do, but what about what we “will” do?

Noone is listening to Bush, and Obama has been gracious enough to let Bush be the only chief in the spotlight. However, this isn’t giving us clarity in who’s the one in charge. It’s giving us a leadership hole because–I repeat–noone is listening to Bush.

As a matter of fact, if you watch the Dow during Bush’s speeches, you’ll notice that the ones who _are_ listening are selling!

So President-Elect Obama got the same person who made the faux-President seal that got him flack during the elections, to make an Office of the President-Elect sign for his dais–from which he needs to roll out his cabinet and policy specifics ahead of his Jan 21st, 2009 inauguration.

We need specifics to bring confidence back to investors–not generalities. Specifics on healthcare, energy, education, the war, and other key issues.

Plus, who is going to run things? Investors are craving specifics. Did you see what happened late Friday when Tim Geithner was named Treasury Secretary? The Dow jumped 400+ points.

Obama can’t expect people to keep their money in the market when we don’t know what’s going to happen next. And I don’t believe he expects it–hence, the plans to announce more of his cabinet nominations on Monday, and the start of the weekly address to the nation.

I don’t envy you, President-Elect Obama. You’re like E.F. Hutton now–e.g., when you talk people will listen (remember those commercials?)

The irony here, however, is that E.F. Hutton became part of Citigroup, which is crumbling now….sigh…

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