Will There be an Obama Bounce?
Barack Obama is in a pretty nice spot right now. He’s got all the adulation of a well-liked president, the respect of a proven leader and the millions of fans of a rock star. But when he officially takes the title of “president” and citizens wake up the next day still unemployed, how will the economy react?
Certainly everyone is hoping for a “bounce” or an upswing in the markets. Hopefully one that makes it past the weekend. There’s tons of speculation here in the US, but maybe we’re all a bit too close to the action. Here’s a take on the Obama bounce from across the pond, via Afternoon Rally:
And another look at our new “Mr. President” from Bloomberg in the US:
Certainly any turn around will take time. What’s your take on the new president? I’d love to get more opinions — share what you think in the comments.
I’ve got infinitely more faith in Obama than I had in Bush (who doesnt?), but in my opinion the notion that the economy will suddenly recover now that he’s in the big chair is unlikely.
Even if he does EVERYTHING right from day 1 and his stimulus package actually works, it will still take at least 6 months for things to turn around.
My bet is on a rather gloomy 2009. Obama has his work cut out for him.