Tuesday, 11 November 2008

Obama: No more campaigns


Obama, McCain, Palin, Obama, Palin, Palin, McCain....

I am glad that they finally picked a president in the US. This of course is a problem for CNN, since now they have to actually focus on real news. Maybe now we can get the real picture of the American economy. As an avid news watcher, it seemed that whenever I would turn to CNN, there would only be news of the election. It would be interesting to see the coming headlines and to see where the new focus is going to be for the media.

It was no surprise for me to see Obama getting elected. Even though McCain probably deserves the post given his complete dedication to his country backed up by an impressive military service record. I don't want to use age discrimination, but at 72...and with Palin as VP...you get the picture.


Let us see what is happening in the financial media (BBC/CNN/FT):
Fannie Mae reports $29 billion loss (uhoh)
Asian, Pacific stocks track Wall Street losses
Forecast 2009; Consumer prises will stop rising so fast
DHL announces 9500 job cuts
IEA warns of a new supply crunch
Unemployment hits 11 year high
Christmas spending to fall 7%
Credit crunch hits church savers

The only good news I can seem to find relating to finance from BBC and FT is that China hit a new record trade surplus.

Welcome to recession.

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