World Markets Take a Huge Hit

Today, with growing fear of the US economy going into recession and lack of confidence in President Bush's economic stimulus plan, markets all around the world really took a huge beating. Here in Canada the TSX (Toronto Stock Exchange) lost more than 600 points, or approximately 5% in one day. This is in addition to the substantial decline it, and other world markets, experienced last week. I personally have seen my investment portfolio drop thousands of dollars in the past few trading days and, let me tell you, it's a scary situation to be in. Hopefully Ben Bernanke, the head of the US Federal Reserve, will announce a major cut in interest rates in the next few days, or the markets will lose even more. Unfortunately, doing this may erode the US dollar even further. It is a sickening feeling to log on to the internet and see that the market has dropped that much in one day, on top of the accumulated decline from last week. It really takes that smirk of the faces of the people suffering from insane inflationary mentality, that believe that the market will go up forever.

The point is this: THIS IS NO TIME TO SCREW AROUND! It just goes to show that we need someone with experience, who can stimulate the economy while in power. No offense to Barack Obama, but he has a track record about as long as a match stick, and this is no time to take a chance on severe inexperience. Furthermore, any democrat who wants to RAISE taxes, clearly doesn't understand how this will worsen the economy. On the republican side, many want a strong military and tighter border controls, but these things cost money, and ride on the coat tails of a strong economy. What happened today just confirms even stronger that we need a Mitt Romney in the Oval office; someone who has spent the majority of his life taking failing businesses and operations and turning them around. We have to stop messing being wooed by political rhetoric, fancy and stirring speeches, and smooth talking one-liner politicians. We need someone who can assess what's going on, create an appropriate strategy, and then act. We need Mitt Romney.