4 more years (of mediocrity)

        As a non partisan observer of the 2012 US elections, I can conclude, that given the 2 candidates to choose from,  Americans chose to return the incumbent Mr. Barack Obama to office. When he took office in Nov 2008, the US economy was teetering on facing with the most critical economic crisis of its history with major lenders from Fanny Mae, Freddy Mac ,Citigroup, Lehman Brothers and  AIG bordering on bankruptcy. All these were blamed on the banks unfettered , unregulated (mind you) and near illegal bets on subprime mortgages loans, credit swaps and as a result Lehman Brothers went bankrupt, with AIG and many others bailed out by the TARF or emergency money to continue their ruthless lending.

      Four years down the road, with unemployment at a near all time high of 7.8% and the reemergence of General Motors after a forced bankruptcy, USA voted in Barack Obama again. There will be millions of analyses down the road for why they voted for him, and not the savvy businessman Mitt Romney. But for me, as a company director, if you are hired to manage a company, your job performance is normally measured in a span of 3 years, and if you are hired to make things better, then you better do so in whatever way you can. Else, you get shown the door, or fired. That is the American and global way of rewarding good performance and releasging poor performers. 

     So during his tenure what did the Fed do ? They printed more money to lend to the ailing banks stating that they were 'too big to fail' and as a result the people who created this mess and stall the world exconomy leading to an even greater mess down the road (few years from now) are still in their jobs and with more money too. Ridiculous isn't it ? 

     So America has voted in the incumbent Obama, he pledged to make good on the economy, but with the fiscal cliff looming and a divided House (Senate is Democrat majority and House of representatives is Republican) it is looking alot like a bleak Christmas and and uncertain new year.

    Wall Street as well as all major markets around the world sent their message to Obama.
They all dropped from 1.2 to 3 % in a day.  

    Oh dear.