Although he campaigned on the promise of “hope,” Barack Obama’s presidency has delivered none thus far. Stock market charts are nothing more than a graphical representation of the hope or fear of society. As a result, society has issued its collective judgment: This presidency is delivering only fear.
The study of socionomics seeks to explain how social moods determine the direction of the financial markets, politics, and even hem lines and music. The last protracted secular bear market in the 1970’s delivered a period of plunging hemlines (remember the midi skirt), angry or dour music, and Richard Nixon.
Nixon was well-known for his displays of anger, outright lies, secret enemies lists, and secretive policy meetings. Nixon presided over a large expansion of government control. He even instituted wage and price controls, central planning, for a period of time. Nixon famously said, “When the president does it that means that it is not illegal.”
The most famous bear market president in U.S. history, however, prior to Obama was Franklin D. Roosevelt. Under Roosevelt, the government grew in a manner unprecedented until today. Preying on fear and uncertainty in the populace, his “New Deal” and the birth of government entitlement programs leaves us with a legacy of unsustainable government today.
Now America has another bear market president at the helm. Obama is openly angry, even vicious toward dissent and anyone who dares question him. He is expanding government control at every turn. He openly lies at every turn. (See outstanding article by Examiner Anthony G. Martin.)
There is great debate over whether a president sets the mood of the nation or is a reflection of the mood of the nation. Socionomics settles the question on the side of the president, and the selection of other public figures to come to the fore, as a result of the prevailing social mood. The message of “Hope and Change” was initially well-received by a populace sensing that something was very wrong with the economy, even though the depth of the problems was understood by few.
However, also in that selection of Obama to be president was the unconscious selection of someone who would mirror the increasingly ugly mood of the nation. Anger and fear are the prevailing moods. Obama’s thinly veiled anger which rears its ugly head with alarming frequency merely fulfills the public’s expectations. The fear he engenders with failed policies, increasing government control, and increasing arrogance towards the public is nothing more than another self-fulfilling prophecy set in action during the 2008 election.
This nation’s economy and mood will not improve under this president. It cannot. He is the right man at the right time, but for all the wrong reasons. Obama is nothing more than a projection of the nation’s anger and fear into a position of power and authority. He cannot and will not change his personality nor his agenda.
The fear and anger have not played out in full to make a lasting bottom in the financial markets or the economy. Until the pendulum has had its full swing, there will not be a return in the other direction.
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