What do I think of the Blue Tsunami?
I'm slightly surprised it wasn't larger. Clinton and Obama similarly started their 2nd terms with dismal approval ratings (low 40s%, about 5% higher than the Dark Lord) and lost 65 and 55 congressional seats repsectively.
Trump lost only 32 because the Democrats message "He's evil/Socialism is better" didn't land spectacularly.
Is that good for investors? A split Congress would have been better, but generally speaking, the markets like gridlock (SP500 futures now up 1.115%) and we'll get plenty of that.
How about voters who are fed up with high energy and consumer staple prices? The election will produce little change. We're not pulling out of the Iran stuff (in fact Voldemort will double down over the Dems objections) . The high price of everything (but oil) is mostly due to 21% aggregate inflation during Biden. In fairness to the poor mope, most of that was due to supply chain disruption during the pandemic which is nearly impossible to walk back. Donald Duck could have been president. The result would have been similar.
Will Millennials and Gen Z finally be happy? Let me offer a simple example: Your friends all have cars and you're forced to ride your bike 8 miles each way to work in winter. You beg your dad for a used car. He's just lost his job and his secretary hacked the family bank account...your parents are dead broke. No vehicle for you.
That's the federal government. We're tapped out with $40 trillion in debt, massive annual deficits and the bottom 50% of earners pay less than 2% of US taxes. No, the Federales isn't going to take care of anybody. That the cold reality. Suck it.
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