Obama Re-Election Good News For Thailand

[webfact]

US ELECTION

Obama victory good news for Kingdom

BUSINESS REPORTERS

THE NATION

BANGKOK: -- The re-election of Barack Obama as president of the United States is expected to have a positive impact on the global and Thai economies, but the "fiscal cliff" poses the biggest threat to the US recovery if he cannot make a compromise with the Republicans, who retain a majority in the House of Representatives, economists and business leaders said.

"The recovery of the US economy is expected to continue, as President Obama resuming a second term will lead to a continuation of [current] economic policies," Boonchai Charassangsomboon, executive director of the Finance Ministry's Macroeconomic Bureau, said yesterday.

Fear of a trade confrontation between the US and China has also subsided with the defeat of Mitt Romney, Obama's Republican challenger, Boonchai said. Romney had promised during the campaign to take aggressive action against China for manipulating the exchange rate of the yuan.

"The impact on the Thai economy will be positive, but not much, since it will take time before the US fully recovers from the severe 2008 [financial] crisis," Boonchai said.

The "fiscal cliff" is the most worrisome issue, regarding whether the Democrats and Republicans can compromise on budget cuts, he said.

The cuts will start automatically in January as the US plans to reduce spending by US$1.2 trillion (Bt37 trillion) over the next 10 years in an attempt to get its massive debt under control. A continuation of the loose monetary policy known as quantitative easing (QE) will also shore up the US economy, he said.

Recovery of the US economy will be good for Thai exports but as Europe is still suffering from a sovereign debt crisis, full recovery of the global economy will take time, Boonchai said.

While QE will encourage further capital flows into the Kingdom and the rest of Asia, the Stock Exchange of Thailand and the baht could be subject to high volatility, he added.

Kosit Panpiemras, executive chairman of Bangkok Bank, expects a resumption of robust growth of the US economy to depend on Congress. Even though Obama has a clear framework for reform as well as a plan to deal with the fiscal cliff, there are worries about whether Republicans will support the president's solutions.

Obama's re-election means QE3 remains, which results in funds flowing into emerging markets including those in Asia. However, Kosit noted that volatility was normal and each country had its own tools to cope with it.

For Thailand, further interest-rate cuts are not a solution for dealing with these fund flows, and the Bank of Thailand is expected to have other solutions.

"If the central bank believes rate cuts are the way to tackle fund flows, the policy rate will end up being zero, which in my view it will not do, because monetary policy is not linked with the fund flows driven by QE," he said.

Kasikorn Research Centre agreed that Obama's victory would benefit Thailand, but that the fiscal cliff was a worry. If Congress and the White House are able to agree to increase the debt ceiling, the US economy should be maintained over the next few years, which will be a positive factor for Thai exports and those of other Asia countries.

Chatchai Boonyarat, vice chairman of the Thai Chamber of Commerce (TCC), said Obama's victory had created more confidence in the continuation of policies to drive the US economy, as well as clearer direction on international trade policies.

"Before the election, the business sector was concerned about uncertainty and changes in policy. However, after the election, the policies that have been in place during the past four years should be maintained," he said.

TCC vice chairman Somkiat Anuras said this continuity should help promote the global economy as well as ensure stronger export from Thailand, as the US economy should grow gradually.

Sira Intarakum-thornchai, chief executive officer of PricewaterhouseCoopers in Thailand, said in a statement: "You must admit that it was a very close and exciting race from the two camps. In any case, I still believe that the US will continue to engage Asean as an organisation and all of its member states at very high levels.

"To date, the Asean region has become one of the largest trading partners with the US. If we look at the statistics of Thai exports, you'll see that the US remains among the top three trading partners with an export value worth more than Bt530 billion (January-September) after China and Japan.

"I do believe that we can expect an even stronger partnership between the US and Asean as the region continues its economic growth and increased political clout along with trade and investment.

"Next year marks a special event, the 180th anniversary of US-Thai relations," Sira said. "I think it'll give us a chance to look back at the things we've accomplished together, and also provide a time to look forward to the future of both countries, particularly how we can work better together to deepen our existing friendship whether it's trade, investment or export.

"Thailand and Asean have increasingly played crucial roles on a global stage, similar to developed markets like the US. I believe that the friendship will continue to grow even tighter and stronger in the years to come.

"Does the US election really affect Thailand? Certainly, but the long-term impact is hard to predict. I do believe that the leaders of the two nations stand firm on devoting attention to their citizens' economic success, diplomatic efforts and security, in addition to shoring up relations each other and their traditional allies.

"The US and Thailand will remain close. Both nations share massively overlapping economic and security interests," Sira noted. I don't think the election results will change much in terms of the current global outlook they share.

"Global economic uncertainties and continuing debt woes in Europe will continue to be a long-lived risk. Ongoing regional inflows spurred by recent QE3 measures should continue the trend, but that comes with the fact that businesses and investors have to stay risk-averse and be cautious of possible profit-taking."

Adirek Sripratak, president and CEO of Charoen Pokphand Foods, said the re-election of Obama had not affected Thailand's and the company's exports, as its economic policy had not changed. Thailand's export now relies mainly on Asia, while the share of the US and the European Union of the Kingdom's total export value is about 10 per cent each.

In addition, the company's export value to the US market averages Bt2 billion per year, compared with its targeted annual sales revenue of Bt330 billion to Bt350 billion this year.

However, Thailand should closely monitor any changes in the Obama administration's economic policies, he said.

-- The Nation 2012-11-08

[SunSeek01]

Note to The Nation - There is no recovery. More people are out of work than ever before, prices, especially food and gas are at all time highs like we Americans have never seen before. Housing is rising very slightly, probably a cyclical bump. Most people with a an honest job resent most people who voted for Obama. The unions have been given GM (General Motors) illegally stealing money from the bond holders. The unions are exempt from Obama care, the entire Fed workforce is exempt from Obama care. You can liken our budget to a family that makes 60K a year and spends 100K a year for the last 4 years.

Don't believe the mainstream media hype. America is not in great shape financially due to wasted spending, non-competitive regulations, unions chasing jobs off shore, attention to issues which matter hardly at all.

[puyaidon]

I received this quote from a friend this morning that goes along with your comment.

"Remember, I told you why all non-Americans like Obama - it's because they know the more we have Obama, the less important the USA will be!!!"

Says it all doesn't it?

[pomchop]

Note to The Nation - There is no recovery. More people are out of work than ever before, prices, especially food and gas are at all time highs like we Americans have never seen before. Housing is rising very slightly, probably a cyclical bump. Most people with a an honest job resent most people who voted for Obama. The unions have been given GM (General Motors) illegally stealing money from the bond holders. The unions are exempt from Obama care, the entire Fed workforce is exempt from Obama care. You can liken our budget to a family that makes 60K a year and spends 100K a year for the last 4 years.

Don't believe the mainstream media hype. America is not in great shape financially due to wasted spending, non-competitive regulations, unions chasing jobs off shore, attention to issues which matter hardly at all.

whine whine whine

[rijb]

I think they voted for Trump

[delgarcon]

Don't believe all you read on here. SunSeek's comments do not represent the views of my hard working family and friends in the US who are all very happy that Romney's "can has been kicked down the road" Obama's presidency doesn't mean that America will be less important, it will be less IMPOSING and Obama's nose wont be up Israel's backside.

[Nisa]

Note to The Nation - There is no recovery. More people are out of work than ever before, prices, especially food and gas are at all time highs like we Americans have never seen before. Housing is rising very slightly, probably a cyclical bump. Most people with a an honest job resent most people who voted for Obama. The unions have been given GM (General Motors) illegally stealing money from the bond holders. The unions are exempt from Obama care, the entire Fed workforce is exempt from Obama care. You can liken our budget to a family that makes 60K a year and spends 100K a year for the last 4 years.

Don't believe the mainstream media hype. America is not in great shape financially due to wasted spending, non-competitive regulations, unions chasing jobs off shore, attention to issues which matter hardly at all.

A little bit too much Fox News?

Actually more people are back to work since the Bush recession / job market hit bottom. In other words, more jobs have been created than lost under Obama even though he was handed an economy that was hemorrhaging 100s of thousand of jobs a month.

Housing prices are also dramatically up since the housing bubble that burst under Bush finished bursting at the same time as the employment rate.

Food, gas and just about every other price goes up every year. It is called inflation. From 2004 to 2008 the value of the dollar decrease by 14% while from 2008 to 2012 it decreased 7.5%

You comment about employed people's feelings about Obama voters border on too ridiculous to respond.

It is absolutely false that Federal Employees (including congress) are exempt from ObamaCare. I have never heard the one about autoworkers union but consider all these union members are offered health insurance by their employers ... "if" they were exempt this would just mean they couldn't switch to the government option.

And yes, the government spends more than it takes in and has been doing so for a very long time (minus the last 4-years under Clinton) and currently it is paying off 2 - 10 years war not only not funded by Bush but the opposite was done and tax cuts were given resulting in huge revenue loses during his term while handing off the bill for the wars to Obama along with an economic conditions not matched since the great depression (which by the way took 10-years and a world war to see unemployment numbers get back inline)

US Federal Budget

Year-over-year changes in housing prices

US Unemployment Rate

Actual (not adj. for inflation) Gas Price Avg. - Bush vs Obama

Edited November 8, 2012 by Nisa

[Ragzilb]

,

Obama wins right to indefinitely detain Americans under NDAA, Drones are Obamas weapons of choice, and he supports GMO food while his wife is bragging about how the whie house is only eating Organic food.

Double Morale is not twice s good.

I know Mitt is no better, but since Obama won, we people of the free world has lost.

The Future really looks dark and dim now.

[turboturtle]

The president does not control the economy, its the corporations who still rule the US and elsewhere.

But Obama is dim light that shines bright in a black hole of BS or BP...

[Katipo]

I received this quote from a friend this morning that goes along with your comment.

"Remember, I told you why all non-Americans like Obama - it's because they know the more we have Obama, the less important the USA will be!!!"

Says it all doesn't it?

I've never heard this before, and I think it says very little. I think non-American's like Obama because he is seen less as a greedy self-serving rich kid and more of a man with a greater interest in all Americans, and the globe.

[Naam]

the choice between Obama and Romney was like the choice between McDonalds and BurgerKing. both serve yuckish products.

[SunSeek01]

Nisa - Who ever you are, you are wrong on every count. Jobs are the lowest ever, more unemployed than ever, I own a 300K house and it is not "up dramatically". Still a slight bit lower than when I bought it in early 2004 and only because I got a good price and a good location. The entire Obama program is a mess, they hire almost entirely based on race and background. How do I know, I am a hi bux Govt contractor ! I see billions wasted daily. I'm not kidding, every day. I'm not saying Romney is the savior, that would have been Ron Paul, but the Obama program is like hiring a community organizer to run the country! Hope you get the joke! No flame wars, my money is moving out as fast as possible. Just I disagree.

[ThomasBird67]

Don't believe all you read on here. SunSeek's comments do not represent the views of my hard working family and friends in the US who are all very happy that Romney's "can has been kicked down the road" Obama's presidency doesn't mean that America will be less important, it will be less IMPOSING and Obama's nose wont be up Israel's backside.

So I guess Obama's nose being up the backside of the criminal Muslim Brotherhood and every Islamic terror group in the Middle East is more to your likeing. But of course no left wing diatribe would be complete without whining about Israel right?

Edited November 8, 2012 by ThomasBird67

[ThomasBird67]

Note to The Nation - There is no recovery. More people are out of work than ever before, prices, especially food and gas are at all time highs like we Americans have never seen before. Housing is rising very slightly, probably a cyclical bump. Most people with a an honest job resent most people who voted for Obama. The unions have been given GM (General Motors) illegally stealing money from the bond holders. The unions are exempt from Obama care, the entire Fed workforce is exempt from Obama care. You can liken our budget to a family that makes 60K a year and spends 100K a year for the last 4 years.

Don't believe the mainstream media hype. America is not in great shape financially due to wasted spending, non-competitive regulations, unions chasing jobs off shore, attention to issues which matter hardly at all.

A little bit too much Fox News?

Actually more people are back to work since the Bush recession / job market hit bottom. In other words, more jobs have been created than lost under Obama even though he was handed an economy that was hemorrhaging 100s of thousand of jobs a month.

Housing prices are also dramatically up since the housing bubble that burst under Bush finished bursting at the same time as the employment rate.

Food, gas and just about every other price goes up every year. It is called inflation. From 2004 to 2008 the value of the dollar decrease by 14% while from 2008 to 2012 it decreased 7.5%

You comment about employed people's feelings about Obama voters border on too ridiculous to respond.

It is absolutely false that Federal Employees (including congress) are exempt from ObamaCare. I have never heard the one about autoworkers union but consider all these union members are offered health insurance by their employers ... "if" they were exempt this would just mean they couldn't switch to the government option.

And yes, the government spends more than it takes in and has been doing so for a very long time (minus the last 4-years under Clinton) and currently it is paying off 2 - 10 years war not only not funded by Bush but the opposite was done and tax cuts were given resulting in huge revenue loses during his term while handing off the bill for the wars to Obama along with an economic conditions not matched since the great depression (which by the way took 10-years and a world war to see unemployment numbers get back inline)

US Federal Budget

Year-over-year changes in housing prices

US Unemployment Rate

Actual (not adj. for inflation) Gas Price Avg. - Bush vs Obama

Housing prices are dramatically up?? Are you out of your mind?? Despite the rosy pro-Obama picture you have painted here the US housing market continues to be a disaster and banks are still not lending money. Unemployment is still sky high and the economy has basically been stagnant. You can finger point and blame past administrations all you want but deserved or not Obama's first term record as President has been spotty at best. And his handling of the Benghazi attacks was disgraceful.

[pgangeles]

I received this quote from a friend this morning that goes along with your comment.

"Remember, I told you why all non-Americans like Obama - it's because they know the more we have Obama, the less important the USA will be!!!"

Says it all doesn't it?

What an ignorant thing to say."it's because they know the more we have Obama, the less important the USA will be!!! No sense at all." Are you sure you want to quote this guy and make a fool of yourself? Have you forgotten how unimportant we were during the last administration. We were irrelevent. Think before you make statements like that. Edited November 8, 2012 by metisdead
: Posting in all capitals or in all bold, and using large or unusual fonts and colors is bad netiquette.

[Pimay1]

I received this quote from a friend this morning that goes along with your comment.

"Remember, I told you why all non-Americans like Obama - it's because they know the more we have Obama, the less important the USA will be!!!"

Says it all doesn't it?

What an ignorant thing to say."it's because they know the more we have Obama, the less important the USA will be!!! No sense at all." Are you sure you want to quote this guy and make a fool of yourself? Have you forgotten how unimportant we were during the last administration. We were irrelevent. Think before you make statements like that.

Have to agree with you. The last administration was the Obama administration.

[Pimay1]

Note to The Nation - There is no recovery. More people are out of work than ever before, prices, especially food and gas are at all time highs like we Americans have never seen before. Housing is rising very slightly, probably a cyclical bump. Most people with a an honest job resent most people who voted for Obama. The unions have been given GM (General Motors) illegally stealing money from the bond holders. The unions are exempt from Obama care, the entire Fed workforce is exempt from Obama care. You can liken our budget to a family that makes 60K a year and spends 100K a year for the last 4 years.

Don't believe the mainstream media hype. America is not in great shape financially due to wasted spending, non-competitive regulations, unions chasing jobs off shore, attention to issues which matter hardly at all.

A little bit too much Fox News?

Actually more people are back to work since the Bush recession / job market hit bottom. In other words, more jobs have been created than lost under Obama even though he was handed an economy that was hemorrhaging 100s of thousand of jobs a month.

Housing prices are also dramatically up since the housing bubble that burst under Bush finished bursting at the same time as the employment rate.

Food, gas and just about every other price goes up every year. It is called inflation. From 2004 to 2008 the value of the dollar decrease by 14% while from 2008 to 2012 it decreased 7.5%

You comment about employed people's feelings about Obama voters border on too ridiculous to respond.

It is absolutely false that Federal Employees (including congress) are exempt from ObamaCare. I have never heard the one about autoworkers union but consider all these union members are offered health insurance by their employers ... "if" they were exempt this would just mean they couldn't switch to the government option.

And yes, the government spends more than it takes in and has been doing so for a very long time (minus the last 4-years under Clinton) and currently it is paying off 2 - 10 years war not only not funded by Bush but the opposite was done and tax cuts were given resulting in huge revenue loses during his term while handing off the bill for the wars to Obama along with an economic conditions not matched since the great depression (which by the way took 10-years and a world war to see unemployment numbers get back inline)

US Federal Budget

Year-over-year changes in housing prices

US Unemployment Rate

Actual (not adj. for inflation) Gas Price Avg. - Bush vs Obama

Housing prices are dramatically up?? Are you out of your mind?? Despite the rosy pro-Obama picture you have painted here the US housing market continues to be a disaster and banks are still not lending money. Unemployment is still sky high and the economy has basically been stagnant. You can finger point and blame past administrations all you want but deserved or not Obama's first term record as President has been spotty at best. And his handling of the Benghazi attacks was disgraceful.

Wow now we have a new key board on the market. The previous one only had the red key "but....but....but....the democrats. Now the new key board also has a "blame Bush" key.

[pgangeles]

Note to The Nation - There is no recovery. More people are out of work than ever before, prices, especially food and gas are at all time highs like we Americans have never seen before. Housing is rising very slightly, probably a cyclical bump. Most people with a an honest job resent most people who voted for Obama. The unions have been given GM (General Motors) illegally stealing money from the bond holders. The unions are exempt from Obama care, the entire Fed workforce is exempt from Obama care. You can liken our budget to a family that makes 60K a year and spends 100K a year for the last 4 years.

Don't believe the mainstream media hype. America is not in great shape financially due to wasted spending, non-competitive regulations, unions chasing jobs off shore, attention to issues which matter hardly at all.

A little bit too much Fox News?

Actually more people are back to work since the Bush recession / job market hit bottom. In other words, more jobs have been created than lost under Obama even though he was handed an economy that was hemorrhaging 100s of thousand of jobs a month.

Housing prices are also dramatically up since the housing bubble that burst under Bush finished bursting at the same time as the employment rate.

Food, gas and just about every other price goes up every year. It is called inflation. From 2004 to 2008 the value of the dollar decrease by 14% while from 2008 to 2012 it decreased 7.5%

You comment about employed people's feelings about Obama voters border on too ridiculous to respond.

It is absolutely false that Federal Employees (including congress) are exempt from ObamaCare. I have never heard the one about autoworkers union but consider all these union members are offered health insurance by their employers ... "if" they were exempt this would just mean they couldn't switch to the government option.

And yes, the government spends more than it takes in and has been doing so for a very long time (minus the last 4-years under Clinton) and currently it is paying off 2 - 10 years war not only not funded by Bush but the opposite was done and tax cuts were given resulting in huge revenue loses during his term while handing off the bill for the wars to Obama along with an economic conditions not matched since the great depression (which by the way took 10-years and a world war to see unemployment numbers get back inline)

US Federal Budget

Year-over-year changes in housing prices

US Unemployment Rate

Actual (not adj. for inflation) Gas Price Avg. - Bush vs Obama

Housing prices are dramatically up?? Are you out of your mind?? Despite the rosy pro-Obama picture you have painted here the US housing market continues to be a disaster and banks are still not lending money. Unemployment is still sky high and the economy has basically been stagnant. You can finger point and blame past administrations all you want but deserved or not Obama's first term record as President has been spotty at best. And his handling of the Benghazi attacks was disgraceful.

Can you imagine where we would be today had we elected McCain?

Like it or not, we are at least headed in the right direction. We were on the verge of total calapse when Obama took office as a result of Bush's Wars and policies. Try not to mislead the many Thais people who read this stuff and think its true.

Edited November 8, 2012 by metisdead
: Posting in all capitals or in all bold, and using large or unusual fonts and colors is bad netiquette.

[khunken]

As a non-American I'm glad to see him re-elected when the alternative is so scary in foreign policy. The risk of the neo-Cons returning & starting more wars - based on lies - would be disastrous for the world. I hope Obama does succeed in implementing what he set out to do 4 years ago. Difficult, I know, with a non-cooperative congress & the power of the lobby groups.

Good luck to him.

[pgangeles]

I received this quote from a friend this morning that goes along with your comment.

"Remember, I told you why all non-Americans like Obama - it's because they know the more we have Obama, the less important the USA will be!!!"

Says it all doesn't it?

What an ignorant thing to say."it's because they know the more we have Obama, the less important the USA will be!!! No sense at all." Are you sure you want to quote this guy and make a fool of yourself? Have you forgotten how unimportant we were during the last administration. We were irrelevent. Think before you make statements like that.

Have to agree with you. The last administration was the Obama administration.

Not a joke. Obama did not start 2 wars and a drug program, both not paid for. Try something different, stop watching Faux News for a couple days, you might learn somthing.

[Jingthing]

the choice between Obama and Romney was like the choice between McDonalds and BurgerKing. both serve yuckish products.

Much more like a choice between urban, diverse and tolerant Popeye's (Hot and Spicy flava) Fried Chicken (OBAMA) and bland white meat overly processed intolerant right wing Chick-Fil-a (ROMNEY)

The American voters have made our choice and it is delicious, but yes, too greasy. Can't have everything.

The USA: we eat much more SALSA than ketchup these days, but the republicans haven't smelled the salsa yet.

Edited November 8, 2012 by Jingthing

[whybother]

Nisa - Who ever you are, you are wrong on every count. Jobs are the lowest ever, more unemployed than ever, I own a 300K house and it is not "up dramatically". Still a slight bit lower than when I bought it in early 2004 and only because I got a good price and a good location. The entire Obama program is a mess, they hire almost entirely based on race and background. How do I know, I am a hi bux Govt contractor ! I see billions wasted daily. I'm not kidding, every day. I'm not saying Romney is the savior, that would have been Ron Paul, but the Obama program is like hiring a community organizer to run the country! Hope you get the joke! No flame wars, my money is moving out as fast as possible. Just I disagree.

Given how much the house prices dropped, you're lucky Obama has got them back up to where they were.

[EarthAlien]

The collapse of the US dollar is now inevitable. Just as are many removed civil liberties from US citizens.

Not sure how that's gonna be good for Thailand,.. save for a mass exodus of citizens and influx of refugees new expats to Thailand!

[CDNinKS]

The stock exchange reaction tells it all.....all Dow stocks dramatically down Wednesday morning. That shows where confidence in America moving forward is now.

[unanimosity]

Note to The Nation - There is no recovery. More people are out of work than ever before, prices, especially food and gas are at all time highs like we Americans have never seen before. Housing is rising very slightly, probably a cyclical bump. Most people with a an honest job resent most people who voted for Obama. The unions have been given GM (General Motors) illegally stealing money from the bond holders. The unions are exempt from Obama care, the entire Fed workforce is exempt from Obama care. You can liken our budget to a family that makes 60K a year and spends 100K a year for the last 4 years.

Don't believe the mainstream media hype. America is not in great shape financially due to wasted spending, non-competitive regulations, unions chasing jobs off shore, attention to issues which matter hardly at all.

Exactly!! Note to Nation: What recovery is expected to continue? Something in Phuket? Certainly not in North America and Europe.

A continuation of current policies? You must mean plunging the USA in to a greater deficit than all presidents before him....combined, with the possible exception of GW.

[unanimosity]

Nisa - Who ever you are, you are wrong on every count. Jobs are the lowest ever, more unemployed than ever, I own a 300K house and it is not "up dramatically". Still a slight bit lower than when I bought it in early 2004 and only because I got a good price and a good location. The entire Obama program is a mess, they hire almost entirely based on race and background. How do I know, I am a hi bux Govt contractor ! I see billions wasted daily. I'm not kidding, every day. I'm not saying Romney is the savior, that would have been Ron Paul, but the Obama program is like hiring a community organizer to run the country! Hope you get the joke! No flame wars, my money is moving out as fast as possible. Just I disagree.

Given how much the house prices dropped, you're lucky Obama has got them back up to where they were.

And how exactly do you actually believe that Obama raised the price of real estate?

[whybother]

And how exactly do you actually believe that Obama raised the price of real estate?

Prices were dropping before Obama became president. Now they're back up to where they were. I don't know how he did it, but it seems that he did.

[ttelise]

Haha, the guys lamenting on about real estate show no comprehension of what affected values and what is being done to correct values. This was perhaps one of the most difficult tasks our government ever faced. Fed stepped in 2007/2008, did tarp to cover short term fractional lending deficiencies resulting from CMO, REMIC, MERS Corp, CDO, AIG credit swaps and bs guarantees by Freddie, Fannie, Ginnie. QE3 is simply more infusion of relief at tune of $ 40 billion per month for banks to ease securitized debt obligations holes that keep opening from fractional lending.

Banks are closer to being stabilized. Money cannot adequately flow back into mortgage market until banks are stabilized, reserves are in line and CMO liability is reined in. Real estate prices will come back once banks are more stabilized and money flows back into market so sales can take place.

No one likes to take about TARP2 or discuss the $ 100 billion BofA was having to set aside to deal the liability it faces regarding BifA and Ciuntry Wides CMO liability. Causes panic and uncertainty.

Not sure why every one is complaining. Economy strong and doing decent where we live and spend our time. People just need to sit on their homes and investments a little longer and this stuff will shake out.

Mortgage crisis was driven both both and consumer greed. Measures have been put in place since 2008, by the Fed and Dodd Frank, to protect system from similar manipulation. The damage done between 2001 and 2008 will take much longer to completely repair.

[rotary]

The only good for Thailand and Asia that comes from Obama being reelected is that he will be the role model for "how not to run a country". Spending money you do not have is no way to run a country. Someone with no business experience at all is not a good person to run a country. Good luck America, you will need it to survive 4 more years of fear.

[Jingthing]

The only good for Thailand and Asia that comes from Obama being reelected is that he will be the role model for "how not to run a country". Spending money you do not have is no way to run a country. Someone with no business experience at all is not a good person to run a country. Good luck America, you will need it to survive 4 more years of fear.

Throughout history, the American presidents with robust private business experience have generally been among the worst presidents. It's just a silly and incorrect myth that business experience is a good background for national leadership.