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.
A third of Susan Rice’s personal wealth — estimated to be as high as $43-million — is tied up in oil producers, pipeline operators and other Canadian energy companies
WASHINGTON — Susan Rice’s would-be path to the U.S. State Department hit another snag on Wednesday following revelations that she owns significant stock in Calgary-based TransCanada, the energy giant hoping to win approval from the Obama administration to build its Keystone XL pipeline.
Credit Suisse's top lawyer begged for mercy before federal regulators handed down their criminal prosecution and $2.6 billion fine against the bank — the first against a major bank in ten years. Credit Suisse pleaded guilty.
The US and European embargo of Iranian oil is one of the factors behind the stubbornly high price of crude, trumping the huge slump in petroleum demand in the US. Although Iranian oil exports are down 33%, Iran is on a course for its third largest oil-related earnings ever. Thus, the primary beneficiary of high oil prices is Iran.
Rather than blame himself for the absurdity of the situation, president Obama blames oil speculators.
High Oil Prices Shield Iran From Sanctions