Obama has won and the US people have definitely voted for a change. Be it they were tired of the Irak war (or other global conflicts), be it the financial crisis has left them without hope, be it their belief that Obama will pay for poor people’s gas and electricity. No matter what, the US people wanted a change – and they got the biggest change in the US presidential history.
The first black president comes in a period of turbulencies as never met until few decades ago. He does not only have to deal with the worst financial crisis ever, but also with two over-passed wars. Obama is not only the youngest President in the US history (he is only 47), but also the representative of the middle and the lower sociall classes in the US, which feel they have been neglected for quite a long time.
But what does this choice mean for investors? Well, as we on doitinvest.com have noted a while ago, first of all Barack Obama has not once underlined he favours higher taxes for the higher income brackets. This means that probably the highly speculative investing vehicles will be taxed higher….but also that a higher amount of money will be spent by the US government on items such as healthcare and social protection.
Secondly, Obama is NOT a Republican, and this means he is not so influenceable as them by the powerful corporate lobby. But of course, he has to deal with the financial crisis asap. Obama has proposed another stimulus package that could cost about $175 billion and include funding for infrastructure and another round of rebate checks.
“The road ahead will be long. Our climb will be steep. We may not get there in one year or even one term, but America, I have never been more hopeful than I am tonight that we will get there,” pleaded Obama in Chicago, after promissing that he will also listen for those who did not vote for Democrats.
A tough road ahead, indeed. And when all the eyes are on the US, as Deputy Foreign Minister Grigory Karasin mentioned, when even the super-powers are looking for a change, it is hard to resist doing one. Good luck, Mr. President!