2011-09-08

Markets about to collapse?

Here's an interesting video with comments from NBC's Chuck Todd, discussing Obama's low poll numbers:
"Now this has taken a hit on the president politically. 44-percent approve of the job he’s doing, all time low of his presidency. A more important number that our pollsters say is in there is this idea that is this a long-term setback for him or a short-term one? 54-percent said long-term. Our pollsters are concerned. That’s kind of numbers you have when the public starts to give up on a president as a problem solver,"
A market collapse can be described as a collapse in confidence. Obama's poll numbers are very low and he is even started to lose support from black voters, who vote 90% Democrat, let alone the fact that he's the first black president. If the market collapses, people will have no confidence in the president, Federal Reserve, banks, government, and so on. Consumer confidence is also at levels last seen in 2009 during the financial panic, but the market hasn't even started a major slide.

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