Oh, and on the subject of Obama, he’s smarter this time around. He’s street smart saying to congress you can fool me once,shame on you but fool me twice shame on me. He’s not getting dragged into this dog fight. He’s acting Presidential. You forsake my advice and help the last time. I’m not falling for this obvious trap. Don’t you want your leaders to be smart? He’s also waving good-bye to Bush-era tax cuts that he grudgingly extend to 2012. Come 2013, no Bush tax cuts, $1.2$ trillion in cuts. That’s gotta help some, right?
None of this is good of course for public sentiment. Whether it helps Democrats or Republicans get elected is pretty obvious. The Republicans are just determined to snatch defeat from the jaws of victory IMHO. But then the bigger question, who’s better for the market, Donkeys or Elephants? Just based on past immediate performance the donkey seems to do better until the elephant drops a turd on them like they did last August. Of course we’re going to wake up one day and realize the emperor is wearing no clothes (country is broke) but apparently the entire world has become a nudist colony and you have to say to your self does it really matter anymore?