economy

Obama: Inauguration Day

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Obamessiah

Obamessiah

I received an e-mail today from Africa, and this is the way I was greeted:  “Reçois mes fraternelles salutations en Christ. En ce jour de l’investiture d’Obama comme président noir américain, je crois que vous vous portez bien dans la grande famille de Barnabas venture.”  I suppose that many of my African friends believe that it is a momentous and historic occasion that son of their own soil is becoming today the most powerful man in the world.  Let me just say a few words of caution.

Obama is a man.  His father is a Luo and a Muslim from Kenya, his mother a white America.   His political roots are socialist and communist.  Regarding social values, he favors abortion and homosexual unions, just as Democrat Party platform dictates.  As a Christian, I have trouble with the social values of the Democrat Party.  As an investor, I am very wary of Obama’s political and economic agenda.  We can start with the plan to more than double the deficit to over a trillion dollars.  This will give Obama additional spending power of 8.3% of the USA GDP.
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Obama and inflation in Zimbabwe

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I’ve joked with people that because the Obama stimulus will lead to inflation, soon enough the US will become like Zimbabwe:  every time we do a print run of our currency, we’ll have to add three zeros.  Zimbabwe now has a 100 trillion dollar note.

Now some major players are recommending that people abandon the US dollar for other investments.  From Bloomberg:

Jim Rogers, chairman of Singapore- based Rogers Holdings, said investors should be “worried” about the U.S. dollar, and recommended selling government bonds and buying raw materials, China stocks and the yen. “If I were you, I would be worried about the U.S. dollar,” said Rogers, 66, in a speech at the Asia Financial Forum in Hong Kong today. “The Americans are printing U.S. dollars. The Americans are going to do whatever they can to revive their economy, even if it means destroying the U.S. dollar.”

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