Sinking

As you may recall, I predicted the stock market would tank big time even after the election, if Senator Obama were to be elected.

As you can see, it has been tanking almost constantly, having lost more than 16% of the market's entire value just since the election.

To put this in perspective, this is the first time ever in the history of the stock market (about 200 years) that it went down after a presidential election. An election - regardless of who wins - usually creates an upsurge, as investors determine and can guess the likely future, now that they know who will lead.

Apparently, that is not the case this time. No one - particularly investors - know, or can predict what Obama and a Democrat congress might do. The people are worried about that. And investors do not invest when they have no way of predicting the possible future. They are investors, not mindless gamblers.

And so the economy follows suit, and continues to tank.

Just remember - you heard it here first - as far back as last summer, when this blog predicted this.

We also predicted Obama would fill positions with left-wing partisans and Washington Insiders, instead of the "change" he promised. To date, 75% of his appointments are Clintonites, Washington insiders and Chicago politicians. So much for "change". The only change seems to be back to old worn-out retreads of the 90's.

Now for the bad news - we predicted a McCain win would result in a hard, but not-so-long recession, but an Obama win would predicate a destructive depression.

This is one time I hope I am wrong...but don't bank on it!