Today, the markets plummeted again. The Dow Jones Industrial Index lost 5,6 percent. By now it’s down over 40 percent for the year.
What about Barack Obama? Didn’t many pundits predict an Obama boost for stocks? Didn’t everyone hope for change in his or her portfolio?
Well, everybody had hoped he’d be able to reassure the markets quicker by presenting a striking economic team soon after his historic election. So far, there has been a lot of chatter about who will helm the State Department or the Department of Health and Human Services.
But there is still no word on who will run the Treasury come January 20, 2009. It’s time for Obama to present his choice for Secretary of Treasury as well as all his economic advisors.
As Obama said, there is only one president at the time. But the market badly needs guidance. And guidance can only come from the president-elect. Otherwise, the Grinch will steal this Christmas – and much more.