Everyone loves Obama

I think there is a misunderstanding on the perception of what Obama really is. He will definitely tackle the financial crisis in the US and so on. But unlike Bush, he will not ask the American people to enjoy their American Dream or go to Disney land.

The rising unemployment will definitely make him lean more and more to the left. He will protect the American's jobs at the expense of other countries because we have been benefitting from them all these years.

So when people around the world ex USA all rejoice that Obama has become president, we must know that without Bush's spending all these years and their massive deficits, we would not be where we are today.

How do you think the deficits are going to be resolved?

US have to export more than it imports. They have to value add the economy. They have to increase taxes.

The best way I can see is to decrease the E/R. By decreasing E/R, the value of their debt will decrease, their exports will be cheaper and imports will be more expensive. This will lead to an increase in job creation via factories being built back in the US.

The negative part is that US standard of living will fall. Anyway with more and more bankruptcies and high personal debt level, it doesn't matter.

To watch: Gold is now US$740. If it ever hits 1000 and beyond, you know what I mean.