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Achieving a Democratic House will be a great plus for the economy, as it will enable at least some sane fiscal policy to be implemented, which will help greatly. But it won't deal with the greatest problem - returning the rule of law to the financial sector. I could be surprised and find that Hillary appoints an Attorney General who really goes after financial and control fraud. If so I will gladly eat my words, but it is not what I expect.

Given that the financial sector is currently acting like a 30% VAT on the real economy, it is important that it be put back in the box FDR had built for it - preferably a greatly improved box suitable to the changed circumstances. Note that well over half of the wealth extracted from the real economy by the fiancial sector is lost for many years by being tied up in offshore havens or in overpriced assets. Cutting finance back to what it was in 1980 even would be a massive stimulus to the US economy.
 

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri May 20th, 2016 at 08:03:03 PM EST
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