I’ve not jumped on the “stock market crash due to Obama” bandwagon even though it seems a bit suspicious that the huge rally occurred while McCain’s poll numbers improved and then the latest big dive began the day after Obama won.
But this cannot possibly make investors or business owners optimistic:
Obama taps Granholm, Bonior
Michigan governor and former congressman will serve on economic transition team
Gov. Jennifer Granholm was named to President-elect Barack Obama’s transition team on the economy Thursday, and will meet with him and 16 other advisers today in Chicago…Bonior, a longtime supporter of organized labor, said his position on the transition committee is an opportunity to press for labor-friendly policies and for aid to the domestic auto industry. He said his appointment and that of Granholm signal Obama’s concern about Michigan’s economy and the carmakers.
Michigan’s economy makes the rest of the nation look rosy. And the heavily-unionized eastern parts of Michigan make the rest of Michigan look rosy. Not only are things really, really bad, but there seems to be no optimism that anything can be done about it.
So let’s put some of the leaders in charge of the place on the big all-star economic team. What’s next, Detroit Lions quarterback Dan Orlovsky going to the Pro Bowl?
Folks, look at what Michigan has done for the past 30-50 years. Then do the opposite.