Lately the once heralded and historic Obama Boom has been on the ropes. Inflation is raging thus raising the cost of living. Wages have declined or remain flat, leading to declining living standards. The economy grew at an anemic 1.8% last quarter. Even people who were hyping the economy were beginning to have doubts. Now, with the killing of Osama Bin Laden, they are proclaiming the comeback of the Obama Boom!
Though the market saw little initial effect from Osama bin Laden’s killing, some analysts say the news could have a significant long-term impact on the U.S. economy.
Economists and money managers see bin Laden’s death as a potential psychological pivot point away from the “Lost Decade” of low confidence and recession ushered in by the Sept. 11th terrorist attacks.
[…]
“It’s such an emotional event. There is a chance we will look back at this as the marker where the corner was turned,” said James Paulsen, chief investment strategist at Wells Capital Management. “We screwed up on WMD, we backed out of Iraq. We don’t know what we are really doing in Afghanistan. We had a terrible mortgage crisis. Maybe this is the moment when the national psyche changes. This is emotional enough that people may say, ‘The U.S. is back.’ And sometimes that is what it takes to get people investing and hiring.”
Read the rest: Osama bin Laden news could pivot economy
So Osama Bin Laden was the reason the economy was anemic the last 10 years? Wow I never knew he had that much power. I guess globalization, debt accumulation, fiscal irresponsibility (Both Parties) and the housing bubble burst had nothing to do with it. Now with Bin Laden dead the economy will roar!
The Obama Boom is back!
What a joke! These Progressives are really reaching with this.
