Well it’s here! Super Tuesday. Today will be the closest we have ever come to a national primary. By tonight we will have a much better clue as to what the political landscape may be like for the upcoming presidential election. The political environment is always important for investors so I thought I would offer some opinions this morning of the various candidates and their views toward the economy.
John McCain has already stated that he does not know much about the economy, and I certainly second that opinion. He was one of only two GOP senators to vote against the Bush tax cuts. John McCain is no supply sider. If, God forbid, he were elected president he would likely transfer economic decision makers to a team of supposed experts. Don’t like that thought much.
Mitt Romney: Romney is the best of all candidates running in his understanding of the economy. He has worked in the private sector and been successful. I believe he would be the best choice for those voters who believe the economy is the most important issue.
As for the Democrats, there really isn’t much difference between Barak Obama and Hillary. Both want to raise taxes and eliminate the break for capital gains. Both want to increase government spending on things like universal health care. If either is elected president hold on to your wallet, and sell your stocks.
Of course, a vote for president is based on several factors. For instance, while Obama is a very left wing politician I really like the guy. He is real, has leadership qualities, and is smart. If I were a registered Democrat I would be voting for him today. However, I am ashamed to say that I am a registered Republican and in about two hours I will be heading to the polls to vote for Mitt Romney. A race between Romney and Obama would really be exciting, and I truly don’t know who I would vote for.
Political uncertainty will dog the market today and I look for another down day.