I have always believed that Obama became 44th President of the USA because of the subprime crisis. I mean horrific news about atrocities in Iraq and the fact that weapons of mass destruction weren’t found did not convince Americans to vote for Kerry. In fact, most of the media covering 2004 American elections claimed that Kerry wasn’t dynamic enough to counter Bush’s charisma!
The truth is that after 911, Americans were in a state of collective psychosis and weren’t quit able to distinguish right from wrong. They came back to their senses when after years of military expenditure in Iraq, economic laissez-faire and risky business in the financial sector, reality hit them hard with the biggest recession of the last decades. Not only did America look like a murderous psychopath in Iraq, but it now also looked stupid. Not only had they ruined their international reputation of democracy fighters, but now they ware all broke. All of a sudden, the world was coming to an end. It is because they needed to save face that Americans voted for a black person who happened to identify with social reform. Change and yes we can were his slogans.
Almost a year after his 2008 election campaign, the new slogan is forget change ‘cuz we won’t. Of course, I’m talking about his promise of having health care reform. All those who blindingly followed Obama and saw him as the messiah, are now listening to those who claim that the US cannot afford to provide health care insurance to all Americans. It is as if the good news about the economic recovery brought doubt about the initial doubt about markets being able to auto-regulate. People are now thinking: ‘Maybe the world wasn’t coming to an end and that it was just us who got scared for nothing. Should we listen to Obama? Maybe he’s going to far?’.
Well, not so fast my dear gamblers. The economy has not fully recovered yet. Unemployment is still very high and foreclosures aren’t stopping. Those who like to have an expert opinion should listen to New York university professor Roubini who thinks that there might be a double dip recession because of a return to economic laissez-faire. Now, based on my initial statement, what would happen if there is a double dip recession? Very simple. People will refuge to Obama once again and say: ‘Obama, save us. You want to have health care reform and it’s gonna cost us 100 million? It’s fine. Just regulate this crazy market and get us out of this recession, please’.
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