Wednesday, October 06, 2010

Gallup Market?

RealClearPolitics - Stocks Gallup Higher

Good column guessing that Monday night's Gallup poll release ignited the markets because the prospects of a Republican take-over in at least the House look all but certain.
Released Monday night, the Gallup numbers demolished the new narrative of the elite mainstream media in Washington, and their prediction that somehow the Democrats are mounting a serious comeback based on frantic Obama campaigning and a slew of multimillion-dollar negative campaign ads.
Kudlow agrees with me that a lot of money in both private and business hands is just waiting for the stupid season to be over here before they jump back in to create new wealth. Why go take risks when you are being demonized by the party in power and being told with every other breath that they are going to tax and regulate you as hard as they can!

What I do think, however, is that highly profitable companies would love to get Washington out of their hair. Anything that even slows down the federal tax-and-regulatory pawing of American firms could conceivably prompt businesses to unleash their massive cash hoard into something that more closely resembles a normal capital-goods-investment and job-hiring campaign -- one that would increase economic growth and reduce unemployment.

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