The mess we’re in that is.
Musing #1 To the extent the mess is perceived as financial and economic it will help Mitt Romney. Romney’s undoubted business and financial acumen will serve him well in the weeks before Iowa etc as concerned voters look for someone with demonstated competence in just those areas. Additionally Romney is most comfortable when addressing such things and thus at his most “authentic” These same issues will also keep the wind behind Herman Cain.
Musing #2 The Obamanauts will shout about today’s 2 and a half per cent 3rd Q GDP growth. They’ll overlook two things: A-It was predicted and B-It largely is the result of damage caused by Hurricane Irene. Irene spread accross the most populous area of our nation and a lot of money was spent in clean up and repairs. It is indeed an ill wind that blows no one good.
Musing the third: Today’s Euro-Deal demonstrates once again that the real bad guys aren’t on Wall St, but rather on Government St. This deal demonstrates how fiat currency results in just plain fiats. The order in this case is a fifty per cent “voluntary” write down of certain Greek debt. They call it funny money but no one is laughing. Other “deals” are certainly coming as Italy, Portugal and Spain struggle with the same issues. The EU printing presses are spinning just as fast as our own. A fifty per cent cut in the value of certain Greek bonds is nothing more than fast-track inflation. US 10-year Treasuries are yielding well under three per cent. Do you believe the greenback is shrinking at that rate per year? Perhaps a decade hence the dollar bill will be equipped with a hologram so that the holder can amuse himself by watching sober George morph into grinning Obama.
Finally, Republicans now face a target-rich environment. Let’s lock and load.