In U.S there are only two talks – U.S economy and U.S elections. The U.S economy has been witnessing many unforeseen events since September 15th which was called ‘Black Monday’. Americans are worried if the Wall Street collapse will turn their homes into an open street with no walls. This U.S economic meltdown, which is an outcome of American bank policy of distributing loans, is having a global impact. The banking sector around the globe is affected because they also followed the American policy of extending easy loans. In India the major destruction is done to the stock market which everyday now brings scary news of the Sensex falling down. Luckily, the banking sector of India has been spared of high damages as most of the banks here are Government banks and are highly conservative in nature.
The U.S economic crash is having an influence on the U.S elections as well. Barrack Obama, of the Democratic Party, is leading over John McCain by 11% votes. McCain’s biggest threat to loose the race is his ‘Republican’ status. Since all this disaster is concurrent with the Republican Government, Americans fear another Republican coming to the throne. In the last thirty two years, every time a Republican came to power, he left the office leaving the value of dollar lowered from what it used to be when he came to authority. McCain being a Republican could be seen as a jinx. Also McCain had voted for four out of five budget plans proposed by Bush, which is making people doubt McCain’s money analysis. According to BBC poll 26% of Americans agree to Bush’s style of handling the economy and 70% think Bush has disappointed them.
Obama, on the other hand, is at advantage. The economic problems are making voters pay a deaf ear to the talks of Obama’s connections with the Ayers. All what people want is economic stability and they believe this Democrat representative would be a better candidate for economic revival. In the past Obama condemned Bush of being unable to capture Laden and assured Americans of nailing the terrorist at any cost, even if it mean attacking Pakistan.. The ‘arresting Osama’ factor has worked for Obama. And now, it is his Democrat degree that may bring him victory. The factors in favor of Obama are tax revision, which would lead to economic reconstruction, and Iraq war waged by the Republican government.
Republican or Democrat, Barrack or John, tall tax cuts or total tax waiver, America needs a president who can stabilize the economic environment. The U.S elections will not just change U.S but will affect the globe. The new Government entering the white house will emit new policies that will directly or indirectly have an impact on the world.
America needs a President with a heart of Lincoln, charisma of Kennedy and policies of George Washington. The Monday of 15th September blackened the U.S economy; perhaps the Tuesday of 4th November will restore America’s future.