I don't know about you guys but I'm really glad that the elections are over if nothing else just so I can get my TV back from all the political ads here in Virginia.
It seems that every other night my wife and I watched more political ads than anything else on TV for the past year. Good riddance to those damn ads!
Now that the election's over I think that both Republicans and Democrats have a very hard time trying to tackle the fiscal cliff that is coming. I'm sure you've all heard all the buzz-words swirling around media just in the last day or so.
[Related -Initial Jobless Claims Rose Unexpectedly]
Maybe today's trading in the stock market was just a small glimmer into what investors are thinking as we head into the end of the year and the possibility of this fiscal cliff. The huge selloff in stocks and subsequent rally in the bond market really shows that investors are getting away from riskier assets and moving money into more safe positions.
Of course this makes sense because given Obamas win it's likely that Bernanke might stay around even longer and further stimulate the economy via quantitative easing.
Regardless of how they figure out a solution to the problem, I've said it before and I'll say it again; the biggest problem that we face in this country is the deficit. It's unsustainable and frankly it's got to push us to the brink (like so many other EU countries already).
[Related -All Quiet on the Record High Front]
Until this problem is fixed I don't think anything else will support the economy into a consistent growth pattern. But of course these are my thoughts. . . what do you have to say about the election, fiscal cliff, etc? Add your comments and share your own opinion!