He has stated, among other things, that he openly wants all of the following:
So OF COURSE, the free market is running away from investment during an Obama administration, dropping another 22 percent since he was elected.
They expect (and IMHO, rightfully so) for things to get worse financially in the free market instead of better as Obama builds and institutes command market principles (read as complete government control) on these United States.
He is picking people for his cabinet, and already has in place a Congress that will support and push through his agenda in both of these areas, financial markets and energy.
The only hope for blunting it or slowing it down, and that is only if the US Senators would stand up (which is a very iffy thing in and of itself) is if the GOP can maintain 40 seats in the US senate and then use that filibuster capability, abd the bully pulpit to point these things out and derail Obama's agenda.
So, yes, the market is more than nervous and is running away from investment under his administration.
As to oil...prices are down right now. And why? precicely for two reasons:
1) The demand lowered significantly during the high prices earlier this summer.
2) Because Bush and many in the current congress openly talked about offshore drilling, oil shale production, on-shore drilling, and ANWR drilling where all combined, we have mnore oil here in the US than all of the mid east combined.
Bush has put in place (and is still doing so) executive orders to make this possible (which he should have been doing for the last 6 years or more) and OPEC sees it and fears it and will continue to try (along with the demand issues) to get out in front of that and make it as financially unfeasible for us to do as possible.
They would rather get drasticallyy reduced prices from us and still make a decent profit, than to get little or nothing from us at all.
They will do this as long as they think there is a chance that the US will actually move forward with these plans...which we are doing right now.
But as soon as Obama takes office, he is talking about dismantling most, if not all of what is happening now, so there is a real danger that the prices will steadily increase once again as soon as his administration assumes control.
In the mean time, we should all take advantage of the prices of less than $2.00 a gallon we are now enjoying ($1.95 a gallon here in Idaho, as low as the $1.60 a gallon in other places) which the so-called experts, only four months ago were telling us on the MSM that we would likely not see again in our life times.
Thank the GOP for the respite, and please, please, WRITE YOUR SENATORS, all of them and let them know exactly where you stand.
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FINE ALL-AMERICAN, LIBERTY ORIENTED BOOKS AUTHORED BY JEFF HEAD
Copyright © 2008 by Jeff Head, All Rights Reserved
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