The best case scenario last night was a definitive result. And we got that. The side show of the election has come to a close with the existing administration and power balance continuing. At least there will be no further time lost recounting ballots for months, or waiting for a magical change in January. Now it is immediately back to the hard work of some very sober numbers. Everyone will have to give to get–all sides. And although I was profoundly disappointed with Obama’s status quo maintenance of the “financial complex” in his first term, I am prepared to harbor some small hope that in a second and final term–one without chance of re-election–he may finally go to the wall on some of the change he promised 4 years ago. Perhaps the Republicans will also find some humility and much needed vision growth in this second defeat. One can hope. And given the alternatives, I say to hell with darkness. Onward.
Follow
____________________________
;
My thoughts and fellings exactly. Great comment and as usual, well worded.
You summed up the sentiment nicely, Danielle. Interesting though, isn’t it, how, rather than feelings of great optimism, the prevailing sentiment (except for those in the Cult of Obama) is, “let’s hope for the best.” My, what a change.
It was a brilliant, well-thought out campaign of negativity, distortion and hate, and the Bad Guys won.
Now we have to plan accordingly. PLAN B. Which for me, is to trade the cards as they fall.
Danielle, I agree with your title but not your text. Same leopard: same spots.
Not sure what kind of hopium has invaded your sensibilities here Danielle but if you think the Obamanomics is the answer going forward I would have to question your historical reference.
What happened last night proves that elections are won on misinformation, emotion and ignorance. The rise of the far right is now pretty much assured. Centralist Republicans have proven they can’t win. Next time it will be a much clearer choice.
Neosocialism or Neofeudalism….both.
I think Romney would have taken more decisive actions on the economy. Not sure Obama can change his beliefs away from big spending big government as a way out of this.
Obama was restrained in his first term by his desire to be reelected. Now we will see Obama unchained.
I think the most important take home about the election, from an investors perspective, is not the potential for regulation or taxes but how the result will affect the bond markets.
Yes, the “side show” it was! A distraction at best. ‘Forward’ with the same divided congress? Can there be compromise? No, because the Republicans are mad! Obama is not for austerity. It’s not what Americans want. The country is ungovernable. It’s a new world with nothing efficient anymore about the markets! DJIA down over two hundred. It this just the beginning?
Admire your optimism.
The market didn’t seem to like the election result.
But as always your focus like mine is on safety, I’m sure.
I agree with Grantham that equities are nowhere for quite a while now, Hussman says we are going into recession and that makes sense to me, equities may be starting that recognition now with earnings weakening, and all other stuff rolling over.
So the play (for me, for awhile) seems to be bonds with a small sidebet on bullion and high yield. Bullion is remarkably tenacious here bouncing back from Friday’s shellacking. Maybe not bullion equities for awhile……:)
I’m really tempted to use the next dip to increase exposure to high yield.
I know its overbought, overowned etc. But in the 2008 downturn it performed remarkably well compared to equities and performs as well during better times, so I think I’ll watch it here.
Good luck.
I don’t hold out any hope for Obama putting the squeeze on Wall Street, it will be too lucrative a career path for him after his presidency.
The worst is yet to come. Stock up on popcorn.
http://www.youtube.com/watch?v=KLXPmi6W9bc&feature=player_embedded
He predicted the 2008 collapse – thus, he has some credibility.