(The original post, with everything on one page was too long to load. Hopefully this will fix that.)
The New Yorker is optimistic.
In fact, I think it’s possible that an Obama election could have a longer-term impact in boosting global markets’ confidence in the U.S., even if it’s also possible that American investors would be happier with McCain.
I would have expected this would happen, too, and I think an Obama administration will eventually right the economy, but at least in the two days following the election, the rally had been, well, a negative rally.
The Daily Beast tells us why Obama is good for stocks.
But back to the matter at hand: what does Obama’s win portend for the market? We live in interesting times, so it’s unlikely the averages really count this time around, but an average is an average, so we might as well take a look. And the news is good: in post-election years, the market tends to rise 6.2 percent if a Democrat has won the election, and just 4.0 percent if a Republican has won. Something to be thankful for.
Speaking of money, Obama raised so much of it during the election that campaign employees got a bonus. The campaign let them keep the laptops and cell phones they used during the campaign, paid their health insurance until the end of the year and gave them a month’s worth of severance pay.
This unprecedented munificence (for a political campaign) was likely made possible by the astounding amount of money Mr Obama raised in the home stretch of the campaign. (And it stands in stark contrast to Hillary Clinton’s primary campaign, which ended up millions of dollars in debt.) No doubt the president-elect’s actions will rub some donors the wrong way ‘especially those who responded to the campaign’s pleas for cash the weekend before the election’ but others may find it a clever move.
So how much DID he raise and spend? About $639 million and $594 million respectively:
Even without corporate cash, the Obama fundraising machine has been a force. Nearly half of the record $639 million that his campaign raised during the primaries and general election came in the form of donations of $200 or less. As of mid-October, the Obama campaign had spent about $594 million.
This could be where we’re headed because Obama has talked about letting Bush’s tax cuts expire. But I don’t think so.
Experts on economic development have long noted what they sometimes call the ‘oil curse.’ Countries with huge oil reserves become economically wealthy but democratically impoverished, because the government can fund itself without taxing the middle class. As a result, the middle class demands less accountability from government because, heck, they didn’t pay for it. (No taxation, no representation.) In the process, the people become subjects rather than citizens.
How the better half watches the election and why they think Obama is screwed. It’s the economy, stupid.
For the Republicans in the suite, resignation had taken root weeks, if not months, earlier, and had grown into a kind of worldly indifference, grounded in the half-sincere belief that our new President, be it Obama or McCain, would be no match for the havoc in the financial markets and the spiraling economic mess.
What does Obama mean to Marketing?
Here’s a look at the worst-case scenario for marketers under Obama. The caveat: It is unlikely that all of these things will happen; the Iraq war and healthcare are higher priorities for the new president. But these are the issues that will likely be debated over the next few years.
Back to Original
Celebrate! – A run down of the celebrations.
WINS! – A list of 38 sites and their winning posts.
Winners and Losers – 18 lists of election winners and losers.
Turnout, Voting, and Polling – Articles and stories about voting, polling, and turn out.
Reactions – Reactions from the world, pundits, and celebrities.
How Obama Won – Some thoughts on how Obama won.
Why McCain Lost – Some thoughts on why McCain lost and what next for the GOP.
Expectations and Advice – There are a lot of people with expectations and a lot of people with advice.
Race – Obviously electing the first black president is going to bring up comments on race.
Money and Business – What will the impact on your money and you business be?
The Media – Without the media, wherever would we be!?
Humor – Without the humor, wherever would we be!?
Miscellaneous – Without the miscellaneous, wherever would we be!?
Personal Stories from Friends – Just what it says.
273 Status Political Status Messages in 27 Hours – Just what it says.
Via – Here’s a list of all the sites I used in putting this together – the sources.