It's a sea of red in the US and European equity markets following the victory of president Obama and statements made by ECB president Mario Draghi. US equities are now down well over 2% and most of Europe was down between 1 and 2 %.
Things would not be any different if Romney had won.
Regardless of who won, the global headwinds would have been the same, and the global economy is in a recession already (it's not widely recognized yet, but it soon will be).
[Obama's] speech the other day was not encouraging
DAVOS, Switzerland – U.S. President Barack Obama’s emphasis in his inaugural address on fighting climate change may not bode well for the contentious project to build the Keystone XL oil pipeline, Canada’s finance minister said on Friday.
The Canadian government has been an enthusiastic supporter of TransCanada Corp’s plan to build the $5.3-billion pipeline, which would open up a huge new market on the U.S. Gulf Coast for crude derived from oil sands in Alberta.
For months Europe had thought that mere verbal (and hollow) threats, populist posturing and propaganda would be enough to force Russia's Putin to back off and withdraw from the endless Ukraine escalation, into a Kremlin cocoon with his tail between his legs. What they didn't anticipate was that Putin would in no way back down (as that would be seen as defeat and weakness by his numerous internal foes), nor would have have to: with Russia providing a third of European gas and with winter approaching, Russia had all the trumps cards from day one.
With New Jersey Governor Chris Christie hurting due to scandal and Sarah Palin doing who knows what, billionaire and occasional birth certificate truther Donald Trump is thinking it might be his turn to be the outspoken Republican on the presidential ticket.
“It is something I would certainly look at. You know why? I’m unhappy with the way things are going in America,” Trump told Reuters in an interview Tuesday.
President Vladimir Putin has been many things to President Barack Obama: a partner at times, an irritant more often, the host of the elusive Edward J. Snowden and “the bored kid in the back of the classroom” who offered so little on the administration’s foreign policy goals that Obama canceled plans to hold a summit meeting in Moscow last week.
While the public’s attention–and cameras–are focused on the glitzy facade of the Chinese National People’s Congress, these photographs offer a peek behind the curtain of this largest political gathering in China. The Congress, which opened Tuesday, is China’s nominal legislature and will announce top appointments to the government, its ministries, the legislature and other bodies.