Europe Gets Obamania

*** “Big bankruptcies are piling up,” says the New York Times. Mervyn’s, a California retailer…Bennigan’s, a restaurant chain…Semgroup, an oil services company…they’ve all gone belly up.

“Restaurant chains close as diners reduce spending,” the New York Times elaborates. The malls are emptying out, too.

*** “OBAMANIA” they’re calling it. The Europeans went wild for Obama on his recent visit. They seem to see in the Democratic candidate a refreshing change. The French call him the “Black Kennedy.” The Financial Times has a cartoon showing him walking on water, to rescue French president Sarkozy and German Chancellor Merkel.

Everyone wants a young, good-looking, smooth-talking winner in the White House, and Obama looks like a winner – at least at this stage of the campaign.

Bill Bonner
for Markets and Money

Bill Bonner

Bill Bonner

Since founding Agora Inc. in 1979, Bill Bonner has found success and garnered camaraderie in numerous communities and industries. A man of many talents, his entrepreneurial savvy, unique writings, philanthropic undertakings, and preservationist activities have all been recognized and awarded by some of America’s most respected authorities. Along with Addison Wiggin, his friend and colleague, Bill has written two New York Times best-selling books, Financial Reckoning Day and Empire of Debt. Both works have been critically acclaimed internationally. With political journalist Lila Rajiva, he wrote his third New York Times best-selling book, Mobs, Messiahs and Markets, which offers concrete advice on how to avoid the public spectacle of modern finance. Since 1999, Bill has been a daily contributor and the driving force behind Markets and Money.
Bill Bonner

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3 Comments on "Europe Gets Obamania"

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I think most want to forgive the USA and get on with life. Obama will mark the end of electing right wing lunies to the top job.

Adam Atkinson

Europe seems to be still full of left wing lunies. But Obama will not change USA in any substantional way. So, I would not have high hopes.


What kind of entry is this. A recap of happenings in the past 2 weeks?

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