It seems that the vaunted “October surprise” the Democrats were expected to reveal might have been stashed inside Pandora’s box.
The emergence of ISIL as a threat, both in the Middle East and to the homeland has shown Obama’s evolution on the issue ( from ” we don’t as yet have a strategy” to ” absolutely NO boots on the ground, no matter what my top military advisers say”) is beginning to make people very nervous.
Obama’s lack of a coordinated response to the growing danger of Ebola, especially his stubborn refusal to halt flights from West Africa to the US, or at the very least, use visas to screen out passengers from those affected countries, is scaring people. And the comic behavior of administration staffers, like the head of the CDC, are not reassuring anyone.
But it appears that another shoe is about to drop; indeed, it’s already left the building: The financial markets.
Since Obama took office, until a short while ago, the markets have just about doubled…making the much maligned yet Obama supporting 1% a lot richer.. In the last few weeks, the Dow has dropped 1,000 points. As I write this, the markets are gyrating wildly.
Many have said that we’re in a bubble. I’ve long held that belief, that Fed policies have artificially goosed the markets. But what goes up MUST come down, and sometimes it comes down hard and fast. That may well be happening now.
If you’ve been fortunate enough to make a lot of money in the markets..at some point, when things start to seem volatile..you decide to take your money off the table. After all the old Wall Street maxim reminds us that “bulls make money, bears make money, but pigs NEVER make money.”
So, we might see the start of a massive sell-off, a flight to quality and safety, and that means we could easily see a 2,000 point drop in the DOW between now and Election Day.
Up until about 15 years ago, when the markets had a bad time, brokers would get nervous when people got their quarterly statements…they could expect a lot of phone calls.
Now, everyone, I mean, everyone with an account, can see instantly what it’s worth, and that’s going to make a lot of voters…er, people very, very worried.
And if may well motivate them to express their displeasure at the voting booth. It could be the deciding factor in a number of races, and give the GOP the wave election it’s hoping for.