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.
The White House announced Wednesday that President Obama plans to appoint three new members to the National Labor Relations Board, continuing his end-run around the Congressional approval process. The White House said in a statement that Obama has tapped Sharon Block, Terence Flynn and Richard Griffin to fill seats on the board via recess appointments. The NLRB, which is supposed to be governed by a five-member board, is down to three active members because Senate Republicans have opposed Obama's nominees.
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.
Sri Lankans were voting Thursday in a parliamentary poll that is widely expected to see President Mahinda Rajapakse's ruling party march to a comfortable win over the fractured opposition.For many Sri Lankans, it is the first parliamentary election in which they can vote without fear of Tamil Tiger violence and suicide attacks after the rebels were defeated last year after three decades of conflict.Rajapakse called the election two months ahead of schedule after his resounding victory in a presidential vote in January.
After 2 months without Chavez, Venezuela government voices optimism but some expect new vote CARACAS, Venezuela (AP) — Two months have passed since Venezuelan President Hugo Chavez climbed the stairs of the presidential jet, blew kisses to his supporters and flew to Cuba to undergo his fourth cancer-related surgery.
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