Dow Down

Remember that dream I had in the Spring, the one where I saw the financial market's collapse? Well, I had another one. In this dream, the Dow plummets to 3000. Considering the Dow was nearly to 14,000 not that long ago, this would indicate times perhaps worse than the Great Depression, when nearly a third of the workforce was unemployed. What a nightmare.

Cuteness

Do you remember when there was some Republican-initiated controversy when Michelle gave Obama the old fist bump, saying that it was some terrorist signal? Talk about out of touch. Geez.

Random Thoughts or Lack thereof

A few points:

1: I think it is funny how people are questioning the Fed, and its recent backtracking ad re-organizing of the bailout plan. I guess this air of indecision makes people think that Paulson does not know what he is doing, as it indicates in some way that he is not sure what is driving the financial crisis. Well, let me help you out. The answer is quite simple, in fact it is only one word: DEBT.

So much of the world financial market has been centered around speculation, that being hugely in debt has become somehow normal (60% of GDP for America, 64% of GDP for Germany). The housing crisis was partly brought on by mortgages that were negotiated with the understanding that real estate prices will always go up, leaving many now owing more than their house is actually worth as home values plummet. This tied into very high averages of personal debt, and, thusly, people living from paycheck to paycheck, will make this Depression (yeah, you bet your ass I call it that) very hard, especially for Americans, and the British. Thankfully, extremely high credit card debt are virtually unknown here as most credit cards are issued by banks that only extend credit card credit for one month before it comes out one’s account automatically. That tied in with the extremely developed welfare system will make the transition over the next couple of years a little easier here than in the States. People are still to be seen shopping here, spending money for Christmas, etc., which, according to NBC, is happening much less in the States. This may be a very false sense of security, I know.

I did take some pride in this stage of the storm when the CEO of Deutsche Bank (my bank) went on public record as saying he would be ashamed of his company if it were ever forced to accept public funds to stay afloat (remember AIG?) Anyway, before I go off on another Germany-loving tangent, I will at least acknowledge that this problem is a worldwide one, and when looking at the Dax and the Dow, they practically mirror each other in their gains and losses. Germans are just a lot more fiscally conservative as a whole than Americans, and I hope this will help them in the coming years in some way. This with the fact that we have a more developed, albeit not entirely viable, renewable energy system and public transportation system will mean that even when the times get hard we can at least have power and transportation, but I digress.

2. The Supreme Court decided that blasting high-intensity sonar through the Pacific was absolutely necessary for the security of America, even if it meant killing, maiming and potentially torturing whales. Fuck that. You assholes! I suppose those old tards on the bench haven’t gotten the memo that the Cold War is over. Or, are we expecting those now rag-tag towelheads called Al-Quaeda to procure themselves a nuclear submarine, drive it up to San Francisco Bay and fire one off? Give me a break. It’s time to bring back those tired old 70s “Save the whales” bumper stickers.

3. Gun sales are up 300-400%. Wow! A blackie got elected, so we need to protect the farmstead. Jesus. And you need an automatic rifle for that? Hey, I have no problem with hunting. It’s actually a good way to keep some deer populations from getting out of control. But, pistols and automatic weapons for personal security? That’s just plain stupid. Contribute to the Bradley Center, if you agree!

4. People, including GW himself, are questioning whether or not we bail out the car companies. Well, I understand the sentiment. They got themselves into this whole mess by not being “with the times” and creating more energy-efficient hybrids, electric cars, etc. Instead, they just kept making SUVs and gas-guzzling trucks. In spite of this horrible foresight, though, I would like for you to consider one thing: how is America going to, under the new administration, become the world leader in alternative energy and low energy transportation without the infrastructure of the Big 3? Unfortunately, our future depends on them, so we’ll have to bail them out, too. It’s just that simple.

Laughin' with Nancy

First comes shock, then awe. I was seriously expecting myself to run through the streets of Berlin, like some Olympic track star, in a complete haze, tears running down my face, chanting “Obama” “Obama” at the top of my lungs. Instead, when I awoke in the middle of the night on Tuesday, I could not stop myself from turning on CNN, where I caught the last few minutes of Obama’s speech. I was relieved, of course. But perhaps more confusing to me was my lack of jubilation as I climbed back into bed and told Chris “Obama hat gewonnen” and we both dozed off, back to dreamland.

Actually, my mood since the election has been some kind of strange disbelief, a non-realization of what has come to pass. I don’t know if it is the dire circumstances that surround the political environment; the pinnacle onto which O. has been thrust does not seem so regal at this trying a time. Perhaps it is simply disbelief that has colored the undercurrent of my mood. One thing is for sure, though, being emotionally overcome this morning for the first time since the election certainly denotes some kind of disconnect between last Tuesday night and today. I must have just needed time to come to believe that I AM awake, and that history HAS taken place, and I was there to witness it all. Cool. Unbelievably cool.

It looks like the mystique of the “Bubba vote” and the “Bradley Effect” were so incredibly disproved. My whinings as well about the incompetence of the American voter, as well, were disproved in one fell swoop. My theory, though, that the “Bubba vote” would be offset, and, ultimately, outweighed by a much more elusive and immeasurable effect (I guess what we can now call the “Obama Effect”) seems to be true.

The “Obama Effect”, my newest theory, is a phenomenon at the other end of the spectrum from the “Bradley Effect”. It describes a portion of the electorate deeply influenced by the injustices of the past, ridden with some form of ‘white guilt’ about how things have hitherto for been for minorities in our country, especially for blacks. These are the kinds of whites with big hearts that would have walked alongside their black brothers and sisters during the Civil Right Movement, the kind of whites who feel a deep empathy within, and have wanted to act on it for some time. These are the kind of whites, like me, who have waited their entire lives, for a black man to burst onto the scene, a well-educated, intelligent, articulate black man, for whom they could cast their vote.

Darkening in the bubble next to Barack’s name was a moment that I will always remember, because, for me, it was an actual action, a defined almost anti-climactic physical manifestation of something within that I have wanted to express for a very long time. I feel that I did my part to give back to my African-American compatriots what my forefathers had stripped away from them—their dignity. Very symbolic, yes, but palpable all the same.

And, what was it that made me laugh and cry simultaneously this morning? What was it that prompted such an outright emotional response? Obama made a minor gaffe in a press conference by referencing Nancy Reagan’s séances in the White House. On the news this morning, they noted that Obama called Nancy to apologize and that it was said that the had a “warm conversation.” Why did this make me cry? Because, I realized that Obama may be just the man to unite our country in a way not yet seen, partly because even Republicans can see in his election a poignant symbolism a partial healing of a deep, old wound. Putting all politics for the moment aside, they will greet him warmly, with the rest of us, as our new president. That is so heart-warming.

I am so interested in what the mood is in America right now. It was also said on the news that things seem notably lighter than before. Is that true?