Thursday, November 6, 2008

Who is Blanker?

CNBC's on-air personalities, being money-focused, are generally ultra-conservative (at least fiscally) individuals. The one thing that I found particularly interesting last night when I was watching the network was when they were reflecting on the day's significant downward market movement, and how that was particularly odd because the day of the election, the market was up 300+ points - even though most people expected Obama to win. One of the people on the network postulated that the day after the election, investors were starting to realize that Obama's economic policies were a "blank slate" and that they didn't actually know how his policies would impact the economy. This uncertainty led to selling, thus the market ending heavily down for the day. This person wasn't claiming that Obama had no idea how to positively steer the economy, but rather that he, and others, just did not know what to expect.

I don't know what individual investors think, but from my point of view, I would much rather have someone leading me who is viewed as a blank slate because we do not yet know what his ideas are, as opposed to a leader who's ideas are a blank slate because that person is, quite literally, a blank slate - no ideas whatsoever, and the words that do come out of his mouth are precious in the way a baby trying to make words and form sentences is precious.

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