So today the Dow is down about 500 points. Yet I bet not a single news story about it tomorrow will attribute the drop to a negative reaction to yesterday’s elections. Not one. Well, I will do so. The market knows Obama-biden-Pelosi-Reid-Frank spell economic d-o-o-m. But here’s what will happen: As the economy continues to tank into next year, Obama and the media will play it as all Bush’s fault and it will just give Obama leave to insert government more and more into things and spread more and more wealth. And possibly curtail more freedoms while doing so.
