Tuesday, November 07, 2006


The big winner tonight

I'll give you a hint. His slogan will be "I won the House for you in 1994. Now we will win it all back."

Not that I need any more reason to be pessimistic about the market but now would be a delicious time for the market to fall apart. To be fair, this is what I thought in 1992. Bill Clinton would get elected and run the gov't like a typical liberal. He did for awhile but 1994 sobered him up. Damn you Dick Morris. If you don't remember the stock market was sideways throughout much of 1994 but took off after the Republican sweep. And Bill Clinton got the credit.

If the market does go down it won't be the Democrats fault. Well not totally. That won't stop Republicans like me from blaming them.

Repeat after me, "Do nothing congress. Obstructionists. Fiddling while America burns. Surrenderists." And again.


US stock market futures are down a few tenths of a percent in Hong Kong trading on the news of a Dem takeover of the House. However, Japanese stocks are down 180 points or more than 1% on the US political news. My hunch is that Japan fears a dovish shift in US foreign policy on the global terror war. Any US weakness in Iraq will reverberate very poorly in Japan as it might affect N. Korean policy expectations. If the Dems take the Senate, look for a major stock sell-off worldwide and in US.
From Kudlow's keyboard to G_d's ears.


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