Please wach this video first.
And, bear with me on this one. I have been very vocal for the reasons I don't like Obama. Since the beginning when Obama came to public light I saw a type of Manchurian candidate sponsored by the left that reminded me pretty much, despite the differences, to madman numero uno of Venezuela, the one and only Hugo Chavez. I might be wrong comparing Obama to Chavez, and I hope I am. OK, enough with the conspiracy theory.
And, this is the reality.
Even though I don't like Obama, I personally saw it was a good thing that he won since it was gonna be a transition from 8 years of not the best Republican government (and not a conservative government at all), and this Obama new government representes in the eyes of many, a new, fresh and reformed way to do politics so that's good. Also, it was gonna be good news for Venezuela since Venezuelans like Obama and since it's much harder for a leftist to go against another leftist, Chavez would have to let go the stupid anti Yankee speech that maintains him in office and he wouldn't have other choice than to get to work and assume the responsibility of the mess that he is doing in Venezuela.
Obviously, such great news that Obama won also had to be reflected somehow in the financial markets. As you know, the financial markets need good news. That amount of Obama voters who were happy that his leader won, would be putting money in the market, investing, buying, lending and borrowing money, etc... and helping out a little bit to get out of this recession. BUT the good news haven't been reflected in the markets or the economy yet. It's pretty obvious to me ONE of the MANY VARIOUS reasons why. The Obama administration speech haven't been the best in terms of adding that much needed CONFIDENCE to the market.
I have listened some things from this Obama administration that really are not that great,
1) The president telling his fellows Americans that they shouldn't listen to some radio talk show host (Rush Limbaught). Nothing new in Venezuela since Chavez took over that he loves to repress the media. Question is, since when it's the duty of a president elected democratically to tell their countrymen who they should or shouldn't listen to?
2) Again the administration attacking the media, this time Jim Cramer, the tv host show whose video I posted in the beginning, who is a democrat btw. The attack was generated because he has been very critical about this administration policies not helping the financial markets. He also has been very vocal about his dislike for the new treasury secretary Tim Geithner for his invisibility since he was appointed and for letting Lehman go when he was the Fed NY president. If they would have helped Lehman, last September maybe wouldn't have been as tragic as it was . Since I like conspiracy theories I think maybe the man wanted the crisis to be the worst so it could help Obama with the electoral ballots. And, it worked. Hey, he even became the Treasury Secretary .
Here's what Robert Gibbs said that made me really mad:
"(...) no offense to my good friends or friend at CNBC," Gibbs said, "but the President has to look out for the broader economy and for the broader population."Why it made me really mad? Because I have heard that so many times coming from the mouth of the Chavistas... like what does he mean with "broader" population? Doesn't he know that the majority of American and the country itself rely heavily on the stock market? How are they gonna create jobs if banks and business dissapear?
That's why the market show no confidence at this moment, because that speech coming from the White House DOESN'T MAKE ANY SENSE.
Tim Geithner also said something similar that got my attention -since it had the "Chavista" touch in it- when he was interviewed by the Congress with Ben Bernanke this Monday. He said something like that it's not in their interest (the Gov) to help the banks but the people. Hello? You make the bank that lends me money and offers me financial services go away and you are not helping me too much.
To me, it seem that they really are taking cues of Hugo Chavez. That's not the way you add confidence and attract Capital, comrade Obama.
3) How long until this might happen? The perfect recipe to scare investment and destroy any confidence left, to expropiate. (thanks to Daniel and Juan Cristobal for their posts).
Even though those two might be very different, and Mr. Chavez wants President Obama to be his new arch enemy -Bush is resting comfortably in his home in Dallas- one cannot but compare them in the way their governments are talking to the people. The difference is, that Americans are not Venezuelans, and a much bigger majority of Americans rely on the financial markets as a source of income, investment and nesting egg, including the majority of seniors of this country.
I don't know where they want to go with this populistic anti-business speech, but it's not good news. Do they want to follow the road of Venezuela's impoverishment?