Well Obama won and everyone's retirement accounts are worth less today than they were yesterday and treasuries are spiking (QE4, 5, 6, and 7 are on the way). A lot was said on here since I checked in last, but I like the comment on German's knowing what is right from 5000km away
For those who don't know, America hasn't passed a budget in years. The last budget proposed by Obama increased spending by $1 trillion and was so unpopular that there was bipartisan unanimous opposition and Obama didn't even get a single vote from his own political party (change you can believe in!).
Also, my sister earns a substantial amount of money from cash tips, which of course there is no paper trail for unless she deposits the cash in the bank (she is a high end hair stylist). On top of that, she has a 30 year mortgage and I have a 15 year mortgage--I am being punished for my fiscal responsibility as she gets to pay lower monthly payments than me AND write off a boatload of mortgage interest. Sure, I come ahead in the long run with more equity, but its just another example of how flawed our tax system is when we're encouraged to make poor long term decisions for short term benefit.
I find it incredible that Obama got reelected and it was as decisive as it was. He has the media in the bag in the US, which was surely a large part of his success. The good news is now Obama has no one to blame but himself. There have been excuses about the economy his entire term and why things are so much worse than he projected with his policies (such as the stimulus and the famous unemployment line chart: http://visiontoamerica.com/wp-content/uploads/2011/06/employmentchart.jpg
). After being in office for 8 straight years, he'll have no excuses left if the economy is still in the tank.
As I mentioned, I am an executive recruiter and I speak to business people for a living and rely on hiring for my income. The general consensus from the people I talk to is that the economy isn't recovering because of Obama, but in spite of him. At the end of the day, I make a good living and if prices and taxes go up, my lifestyle isn't going to take much of a hit. It is the lower classes who are priced out of the labor market by minimum wage, blackballed by unions, and forced to pay increased prices for food and gas ($9/gallon if Obama had his way) that are going to feel the pain. Not to be bragadocious, but I have over $50k in liquid assets--which is substantially more than many older people have saved for retirement based on surveys, so I'm going to be more than okay no matter who is in power assuming tax rates remain less than 100%. The unemployment data shows it as as well--those with 4-year college degrees had an unemployment rate of 3.8% last month while those with no college were around 10%. It's hard to pick up job skills and have income mobility when you can't even find a job. But that is what the people voted for. I don't believe in large amount of economic and personal freedom for myself, but for the little guys who weren't as blessed as I was to have the opportunities I've had in life.