NOVEMBER 7, 2012 6:30PM

Before Everyone Kicks Romney or Freaks Out on Wall Street

Rate: 3 Flag

Clearly, "The Market" had some participants who had a bout of anxiety about four more years of Obama, if that seems overreacting to the author by a large measure, because the structure of the situation facing whoever takes office, absent actual hostility to the country, dictates a large measure of what that person can, and therefore will, do.

That is obviously the case with the budget, as there is no way to do the sequester in its current form, plus other policy changes by default, absent a massive macroeconomic shock.

That is why it would seem like some circles in the military were not averse the the re-election of Obama, to wit Colin Powell, as to the second structural element that favors The Street not overreacting, namely the interaction of our budget with world politics.

Unless a President of the United States actually wanted to damage the country, not the case, then it is the case that he will have to maintain certain military balances that have large economic implications and vice versa, e.g. relations with China and Russia over Iran and Israel.

As to why people shouldn't line up to kick Romney, he ran a good campaign, if one can see some constraints on his campaign that probably cost a very good person a chance to have the hardest job in the world.

As to those contraints, immigration clearly blew up in the Republicans face, as can be seen in the Latino vote, as did continuing to follow the most hardline pro-life policies a la Akin, if everyone ran from whatever that was: hello, can you say "uncomfortable not good?"

On the brighter side of things, and important for both Romney and Obama, and therefore everyone else, Romney pointed out to the need to to a budget deal that is real, finally, which the President acknowledged in his acceptance speech, along with an immigration reform act that probably skewers some sacred cows in the Republican Party, but, how's that strategy looking now?

finis

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Comments

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OS is slow--takes a long time to comment. What else is new.

If you could mind-meld McCain and Romney one of them would have done better, but I'm not sure which one.
McCain got 2 mil more votes than did Romney, so I'd go with the John McRomney combo plate.

Both factions of the GOP have problems, the biggest being there are 2 factions....at least, if not other sub-faction fractions. I think the GOP has a fractured faction and fractious fanatics problem. Before there's some new strategy, Republicans need a referee.
But for now, Kenyan Socialism rules!
I think Romney got trapped very badly on immigration Con, and that was enough to be fatal potentially, if the younger voters have for now turned against market economics to a point. People made a choice in the Party as to what to offer that way, and he did a great job, but, maybe a little too white and a little too corporate to go over the top.
As to Keynsians, they claim not to be Socialist, generally speaking, and I think the budget constraint sooner or later is going to prove Keynes wrong as to his overemphasis on short run fluctuations, which has a place, especially because the short run might mean after a structural rupture in an asset class like housing a long time, but, long run identities have a place too. Steering between that is what the Fiscal Cliff debate is all about.
Kenyan socialism, Don.
It's a birther joke.
:)