Could Obama's mere presence affect the economy?

Whether you voted for Obama or McCain, it appears (at least in major media) the global consensus is that people are in a general better mood, now that Obama is president elect.

Studies show that generally when people are in a good mood, they tend to spend more, and when people spend more, the economy grows. Leaving out Obama's economic package policy, could this mood shift affect Wall Street? Could this effect global markets? Even in a small way?

World Reacts to Obama Election

[edit on 6-11-2008 by NightVision]

Umm, in a word - NO.
If you look at the markets today and yesterday it's tanking again.
Nothing new here. The markets are screwed and the dollar is doomed.

The problem with this 'Bamalamahappiness' spending thing brought on by the giddiness of a new leader, new hope, new era, new . . . well you get my drift . . . is that prior tothe election, nobody had sweet piddly poo to spend on anything.

So, in a moment of complete insanity fed by giddygoodness, people run out and throw a whack more stuff on the credit card.

Come this time next month when they realize that they've not got enough to cover the 'vig' so to speak, there's gonna be problems.

Big big problems.

If people keep their wits about them and clearly keep an eye on the fact that they're mired in a financially freaked economy, those problems won't materialize.

I'm guessing that based on all the happy smilie cheerfulness that occurred on election night, it is apt to be the former and not the latter. Then again, why not . . . even Obama voted for the 'rescue' plan while the government had no real expectation to be able to fund it without going further in hawk with impunity, so why not follow their lead.

Why yes indeed for he is the chosen one isn't he. Everything he touches will turn to gold and the planet shall be reborn by his mere presents. No more worrying about paying my mortgage or putting fuel in my car. No more paying health insurance or working for that matter. So yes by what the media shows and tells America has changed by one man.

reply to post by Solarskye


Agreed. It seems like everyone is expecting him to save the world now. Way too much pressure to put on one dude. I hope people settle down soon and simply start pitching in.