The noise in the pub subsided as Obama took the podium to accept his election as president. Then he gave the second of two great speeches that I listened to yesterday. Both capture historic moments and give us hope for mining success.
Obama’s speech will be repeated and quoted. The second speech is already lost except for this note. It was by the head of a company serving the mining industry and he talked to the staff of the company to tell them of the impact of recent mining market turmoil on the company. Here is a brief summary of both speeches:
Obama: America once again proves that its might is not in arms or economic success, but is in the spirit of free people coming together in liberty and justice. Democracy prevails.
The head of a mining-service company: The mining companies of the world, our customers are now worth less than half of what they were at the beginning of the year. If you have shares, you are worth much less than you were before. Junior mining companies are closing all around us. Our company has instituted a hiring freeze, will make no salary increases, and will even have a Christmas lunch instead of a dinner party—symbolic maybe, but part of what we must do to get through hard times. There should be no layoffs if we can maintain current customer and income levels, but we will all have to work a little harder, work a little longer, and continue to pull together as the efficient team we have been so far, if we are all to survive.
The Canadians who listened to the head-of-company speech were subdued. Some knew they would be the first to be laid off if the economy does not improve. And so some came to the pub to drink and watch the election results and be part of Obama’s success.
The Canadians I was out drinking with were divided on the benefit of the election results to Canada. Some were jublilant, some somber. But all listened carefully and quaffed great quantities.
Random statements made after the speeches include these:
The bank financier said his election would have no effect on Canadian mining, but may well lead to a wave of violations of free trade across the border. He cited soft lumber, pork, cars, oil, and beef as possible Canadian product that would be impeded from moving south by a protectionist US government. The banker concurred that Canadian metals would not be affected, for they are sold on an international market that is free of Democratic meddling.
The owner of a junior mining company said that McCain had all the makings of a great depression about him, while Obama in spite of his threat to tax the wealty, was the right man for the times. He vowed to work harder tomorrow to raise the $5 million he needs to keep his mining operations afloat.
A kid from Utah who had a beautiful young woman on each arm, said he left the state in disgust and would prefer to stay in Vancouver with his beauties.
The political scientist noted that the coal mining states voted red, while the metal mining states voted blue.
The civil libertarian noted that the results of many state ballots were not in and we should temper joy with continued concern that the spirit of hate and meaness that still runs deep in American will continue to deny basic civil liberties/rights to those who are different. And sadly he has been proven correct if we examine this morning’s returns.
Thus the reactions were different. The outcome will be different. It all depends on how we see this change and its potential impact on the current times. Personally I recall the bad times of 1982 and 1983 and the beneficial impact Reagan had on the spirit of the times. I now hope that Obama too will raise up and renew the spirit of the times, not only in American, but here in Canada, and worldwide.
