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04 November 2008

Presidential Election

Media and market analysts have been calling this election the most important in modern history, a historical election no matter who won. Now we know the outcome and we have a President - Elect Barack Obama.

Democratic Presidents tend to favor policies that help middle class Americans, whereas Republican Presidents favor policies that help the wealthy, big business and the system in general.

President - Elect Obama's tax policies have been at the forefront of media discussion. He has promised to lower taxes for people who make less than $250,000 and not re-authorize the cuts that President Bush gave to people who make over that amount, which will result in an increase to those people compared to the last 6-8 years.

Certain investments will also benefit from Obama's administration, most notably "green" type businesses or alternative energies, i.e. solar, natural gas, managed health care and the automotive industry.

Obama has promised to end the war in Iraq, yet I haven't heard of any specific plan or timetable for that to happen. With the economy in shambles, it's hard to image that we can continue to support the cost of the war for much longer. Although, at the rate the Fed and Treasury are printing money, I guess it doesn't really matter.

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