The Dow plunged 313 points yesterday, but don’t believe news media reports that it was the nearness of the “fiscal cliff” that caused the selloff. What spooked investors is a bigger picture that recognizes the economically catastrophic implications of a second Obama term.  To be clear, there is nothing Romney could have done to avoid the deflationary Depression that lies ahead.  However, a Romney presidency might have at least served as a reality check, delaying the onslaught of hard times for perhaps long enough to allow Americans to put their financial houses in order before austerity hits with the force of an earthquake, as it has in Europe.

…..read more HERE

Here’s What President Obama’s Win Means For 
Your Money

by Keith Fitz-Gerald , Chief Investment Strategist, Money Morning

As was widely expected leading up to the election, all of the major averages got slammed in early trading on news of President Obama’s victory. Just over an hour into yesterday’s session, the Dow dropped 262.51, the S&P 500 tumbled 27.58 and the tech- laden Nasdaq fell 59.55. Oil tanked 2.95% and $2.62 per barrel to $86.08 while 10-year bonds saw yields plummet 6.20% to 1.63%.

O-bummer.

There is a bright side, though. Now that all the hoopla is over, investors can get down to business. 

Here’s what I’m expecting:

……read it all HERE

US stocks will fall 20-50% after Obama re-election warns Dr Marc Faber

Marc Faber, publisher of the Gloom Boom, & Doom Report, told Bloomberg Television’s Trish Regan and Adam Johnson on ‘Street Smart’ today that ‘Mr. Obama is a disaster for business and a disaster for the United States’ and that he ‘thought that the market on his reelection should be down at least 50 per cent.’

Faber also said ‘I doubt [Obama] will stay at the presidency for another four years. I think there will be so many scandals’ and that investors should ‘buy themselves a machine gun.’

…..read the 8 paragraph article HERE