Barack Obama inauguration – the 17 minutes speech

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Jan 20 2009
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Barack Obama’s inauguration will be televised as well as live-streamed and simulated in virtual worlds. Web sites such as Joost, Twitter, Flickr are some of the many sites readied in broadcasting Tuesday’s events live. Of course you can tune in to CNN (Astro subscribers) to enjoy the historical moment with popcorns, chips, Cokes or beers *watch that belly of yours*. The theme of Obama’s inauguration will be “A New Birth of Freedom” – a great theme that can be re-used in the current Malaysia political landscape *grin*.

The climax is definitely the moment (Jan 20 2009, 12pm E.T.) when Barack Obama places his hand on the Bible and takes the Presidential Oath of Office as specified in the Constitution that reads “I do solemnly swear that I will faithfully execute the office of president of the United States and will do the best of my ability preserve, protect and defend the Constitution of the United States”. Let’s wait if Barack Obama could match John F. Kennedy’s famous quote – Ask not what your country can do for you; ask what you can do for your country.

Barack Obama Najib RazakNearly 2 million people are expected to hit the streets to watch Barack Obama sworn in as the 44th president. About 5,000 portable toilets and 10,000 National Guard troops are readied for the inauguration day, not to mention tons of Secret Service roaming the Washington to ensure Barack Obama and Vice President-elect Joe Biden’ safety. This bring back the memory of television series 24 to me *where are you Jack Bauer?*. However on the sad note more than 2 million Americans lost their jobs last year and the stock market lost its shine by almost 45 percent. Barack Obama’s presidential inauguration is estimated to cost $160 million, the most lavish ever.

But there’re people who will make their fortunes specifically for this presidential inauguration. People who gotten free tickets that were initially given to congressman and senators to be distributed freely to constituents are auctioning it on the internet for as much as $40,000 each. How I wish I managed to rub shoulders with some congressman *grin*. Of course Barack Obama still has a long and challenging road ahead, thanks to the mess he’s set to inherit from outgoing President Bush.

Wall Street however has run out of steam from the Obamania’s effect as it points for a lower opening Tuesday. After today’s craze for Obama the next stop would be Apple Inc. and Google Inc.’s earnings result.

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Banking Collapse
Bottom fishing will be extemely tough in the face of a total banking collapse. You can’t call this a crisis–it is a collapse of the system that we have known and enjoyed. Many are arguing that there are smaller regional banks that will emerge stronger as their balance sheets do not resemble those of the Citigroup, Bank of America and others. In the southern region of the country that is most definitely the case—BUT HOW LONG CAN THAT LAST WITH PLUMMETING OIL AND NATURAL GAS PRICES. Many of these banks have made loans based on these industries and if they don’t get relief from falling oil and nat gas prices—-ANOTHER SHOE WILL DROP.

Has anyone heard ole Larry Kudlow calling for KING DOLLAR lately? I personally don’t listen to Kudlow much anymore and wonder if he still believes the we need the stronger dollar—because I believe that we must see the dollar begin to fall or we are going to see worse than expected earnings from the multinationals. I know expectations are very very low, but what will happen if we see a bunch of earnings misses? We could easily see the DOW drop below 7000. This market has factored in terrible news–but if we get below expectations there will be selling like never before. Right now we have no confidence in the banking system, no confidence in earnings, and no trust in Wall Street thanks to Madoff and others. THAT MY FRIENDS IS A BEARISH RECIPE—EVEN FROM THESE LEVELS!!!!

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