From every comment I hear on the street to every media channel news report, you would hardly know that we have a new President. In fact, you apparently should not think of him as merely the “President” (or “ruler” or “savior” depending on who you talk to… but rather as the BLACK president. I honestly fail to see the signifigance. People tell me that it’s a sign of the end times for racism. But I’ve always imagined that racism is the use of race to determine a reaction to a person. To me, that means that people only celebrating the fact that he is black is the epitome of racism. Out of 94 people I have spoke with, 50 supported him as president, but only only 4 could specifically point out a stance they agreed with him on, apart from the generic “change” of the countries destination. Coincidentally, all 50 of them specifically mentioned “black” or “African-American.” Out of the 44 that did not support Obama, 43 pointed out at least one and usually several specific policies and announcements they highly disagreed with, and not one of them mentioned “black” or “African-American.”
Now there is the opportunity for Obama to be a fiscally conservative Democrat. Little Bush has increased federal spending in levels not seen since FDR, and actually by a wider margin than the raw deal guru himself. It would seem that by necessity, Obama will be forced to back pedal from his big government program ideals and start curbing spending. Obama is now promising removal of “combat-only” troops in Iraq (20% of forces) within 18 months, a new hard line against Iran has emerged, as well as a promise to vastly increase combat troop presence in Afghanistan. All of this points to a very unlikely decrease in federal spending in regards to military matters, however, the frightening idea is that he would would follow former president Clinton’s path, and cut national defense, while retaining the overseas spending wars currently raging. In addition, it seems unlikely that he will back pedal on the 800 billion in additional foreign aid he promised to third world countries. Obama comes from an apparent mindset that places the struggling economies and dictators of the third world at a higher importance level than most matters of the domestic state.
Only time will truly tell the outcome. Of course the market is one of the most powerful forces of nature, and will recover of its own accord in time. If Obama lets it proceed in a natural manner, it will heal, and he will be hailed as a genius for having done nothing. If he attempts to Roosevelt his way out of the mess, it will get worse and cause future hyper inflation problems, but he will likely be hailed as a hero 20 years down the road in the new anti-republic that the US will become. Either way, he is probably secure in his image of greatness, due most likely not to anything of his own accord, but rather the failures of his predecessors.