Stephen, re:A couple of days ago I read that the markets may fall because of the Republicans gaining seats and today I read that people are waiting to see if the Republicans gain the expected seats as this would be positive for the market
Tweedle-dee... The market always looks for an excuse. <g>
A few more Republican seats would significantly streamline the ability to pass legislation which favors constituency. (As an example, consider that with a handful of additional Senate seats, the filibuster would be eliminated from the Democratic arsenal.) In context with an at-risk lame-duck President, the Democratic Executive branch would be further weakened. [Keen sense of the obvious, eh?]
The market... er, media would likely intensify questions concerning impeachment, sustained IMF funding, FOMC activity, US Treasury Sect'y tenure, etc. My guess is that certain cabinet members -- including Rubin -- would re-examine their careers. <g>
Having said that, smart money (aka, power) will spin whatever is convenient IMO.
BWDIK,
Alan |
