The Presidential race has been so discouraging I haven’t said much about it. Today is election day, and I thought I’d take a little lunch break time to make a prediction.
People are going to be happy no matter who wins, just because the long race is over. This will raise the stock market and loosen up consumer spending.
If Obama wins, the post-election bounce in the economy will be large. The media will immediately stop reporting bad economic news, replacing that with ‘happy-days-are-here-again’ reporting. This will cause Christmas sales to be much stronger than expected, which will lift the Dow-Jones average well over 10,000.
Sadly, an Obama victory post election bounce will be the economic equivalent of a sugar high. The devastating effects of his big government tax/spend/regulate/sue programs will begin to take effect by summer time.
Besides his job-killing economic program, Obama’s election will re-energize Islamic terrorists around the world. There’s a real chance that Obama will snatch defeat from the jaws of victory in Iraq. Iraq may well replace Pakistan and Afganistan as a base for terror, since it would be politically impossible for Obama to re-engage the battle in Iraq.
Obama will certainly release many of the hard core terrorists now held at Guantanamo. Obama doesn’t need to wait a fiscal year to stop the intelligence collection programs that have done so much to keep us safe since 2001. Taken together it’s clear to see why Obama is the choice of most Islamic terrorists.
Expect a major terror attack on the Continental United States in about a year to eighteen months if Obama is elected.
By two years into an Obama administration we’ll be faced with a real Carter-style recession, if not outright depression. Expect gas to be well over five dollars a gallon, if you can buy it at all. For a preview, ask one of us old guys about buying gas during the Ford and Carter years. Expect high inflation, double digit mortgage rates, high unemployment, and total chaos in the middle east.
By winter 2010 we’ll miss the good times of October 2008.
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