Juggling Dynamite

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.

Once a great deliberative body, the Senate is now known for deadlock, dysfunction and political games. Will Tuesday’s election help? Steve Kroft reports. Here is a direct link.

Source: Cory Venable, CMT, Venable Park Investment Counsel Inc.

Eclectica Asset Management manager Hugh Hendry at the Buttonwood Gathering 2012 talks about his views on gold, inflation, China and the global economy. Here is a direct link, Henry speaks for the first 21 minutes.