Iowa to Wall Street: Drop dead
Much as I would like to ignore them, there is no escaping the Iowa caucuses. Every pundit within 1,000 miles of Des Moines is weighing in on their meaning, or lack thereof. But there is one report coming loud and clear from the campaign from average voters that will continue to be heard, regardless who wins the hearts and minds of Dubuque: We’re scared.
Consider that consumer confidence ended the year on a negative note. Oil prices are at or about to pass $100. The real estate market continues to scrape along the bottom. citizens are unhappy about the war in Iraq and Afghanistan. They are unhappy with president. They are unhappy with the Democratic-led Congress. All of that crankiness is a great boon for the Democrats and a potential problem for Wall Street.
John Edwards, perhaps the most anti-corporate candidate, is in a statistical tie with fellow Democrats Hillary Clinton and Barack Obama. Anti-tax
As the election heats up, so will the anti-corporate rhetoric. Remember that many voters don’t know the difference amidst a stock and a bond, and think 401 is a type of Special K. Fear, uncertainty and doubt will play a large role in determining the next president, and that’s why the markets are going to remain volatile for fairly some instance, regardless of how many times the Federal Reserve cuts interest rates.
Original post by Jonathan Berr
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