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President Elect Obama Sparks World Market Rise

 


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Global Stockmarkets sored on December 9th 2008 on hopes that US President Elect Barack Obama's huge public works spending programme would kick start the Worlds biggest economy.

Plans for the biggest outlay on American infrastructure for half a century, combined with a potential bail out of the US car industry, drove share prices higher on both sides of the Atlantic, after Japanese and Hong Kong markets rallied 5% and 8% respectively.

The FTSE 100 index gained 250.69 points, or over 6% , reaching 4300.06 - its sixth largest ever percentage rise - which added £61 Billion to the value of Great Britains top quoted companies.

All this is good news for companies and stockholders alike, but the ordinary guy/girl in the street needs the banks to lower there interest rates now to give them security in their jobs and their homes.

Lets hope Mr Obama's new public works spending programme will not only give people job security but will actually create new jobs.

Combining a reduction of bank rates which should be immediately passed on to the banks customers and secure jobs, this will give people more money in their pockets to spend in the shops which will of course help companies who are facing administration due to the credit crunch.

Cash is King at the moment, anyone lucky enough to have spare cash can really get the bargains to be had in the high street and I am sure that most car sales men will be only too pleased to sell their cars to anyone with cash to spend, giving the purchaser the opportunity to grab a bargain.

Mr Obama is in a powerful position and I hope he will use his power to help get the World out of recession sooner rather than later.

I am a 32 year old male living in the UK, my ambition is to buy a luxury villa in the Med and to meet the right woman in the future and have a family and travel the world.

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