I’m not very interested in politics unless they affect the market. I don’t like the radio shows or the people who call in with the latest conspiracy theory. (I want to call in and explain my theory that Obama came off of a ship housed at area 51.) With that in mind, this week’s list is political in nature but I tried to word as neutral as possible because as a financial person, I’m not overly concerned with who is in office as long as they do right for the economy. I know that the financial experts may disagree but I’m pretty sure that if you want to be a financial expert you must be highly skilled at disagreeing. (Just watch CNBC)
1.) He’s New– People like change regardless of what the change is. Think about your life. Your old shoes worked just fine so why get excited about the new pair?
2.) He said stimulus– Investors like stimulus because many of the companies they are invested in will benefit. Households like it because it often means a check is coming to them.
3.) He preannounced stimulus– Investors positioned themselves in the right companies and households started dusting off their wishlists.
4.) He’s getting rid of the old crew– Good or bad, Paulson is gone, Cox is gone, and most of the others. A new crew is coming in and although it may not be fair, the old crew let the economy collapse in the minds of Americans.
5.) He’s Green– The green industry must feel used. They were the talk of the town when we had $147 oil but now they are the all but ignored. They are about to become at least a little more popular.
6.) Two words: “Create Jobs”- With an unemployment rate heading towards 10%, what better economic words do people want to hear? He says he’s going to do it and sometimes hope is quite a powerful force in people’s lives.
7.) Lookin’ out for the little guy– He says he’ll be a friend to small business. That’s good because the current economy is not. There are predictions saying that 1 in every 4 business will fail this year. Read that part about the power of hope again.
8.) What about my house? He says he has a plan. He knows that he has to because that’s what is largely on people’s minds.
9.) He’s decisive- Whether you believe he’s right or wrong, you can’t knock his decisive “yes we can” message. Maybe the best part about it is that we are a nation with a low confidence level and a strong leader is probably needed.
10.)He’s new– I know I said that but I remember when I got my latest job. I asked for a computer my first week and they said yes. I’m pretty sure they would laugh at me now.
What kind of finance class are there at area 51?