Stock Markets Are the Real Economy. Poll

Since late October, when it became clear to the market’s “inside money” — those who can count electorally — that President Obama would most likely get re-elected, the markets have been shedding points — about 600 off the Dow, to be precise.

Some of the sell-off is due to the amped-up coverage of the fiscal cliff, but the cliff was neither a secret nor a surprise. Everyone with a pulse knew that the powers that be in Washington did absolutely nothing but campaign since last year’s temporary extension to address the first debt bomb.

No, the sell-off isn’t due to Mitt Romney’s liquidating his rather large portfolio. Rather, it’s just that now it has become quite clear that we have the same economic team that the country struggled with during the last four years and, well, the market clearly does not find that inspiring.

Being president is about much more than just the economy and just the markets. Think national defense and education, to name just two. But getting this economy righted is much more important than almost anything else to most American families, and right now the markets are extremely unimpressed with the election’s potential economic outcome.

Let’s be clear: The market unmistakably prefers the more “business-friendly” Republican approach as being better for jobs and growth over the long run and all the economic goodness that is generated from that, than what the Obama administration has delivered. Stocks are off 6 percent just since election day. Now, there’s a message from the markets.

This president was elected to govern this great country of 300 million diverse people, so please don’t confuse the election results as a mandate to govern from the far left.

Most Americans are close to the middle, both politically and economically. A more centrist pro-growth/jobs economic policy will require a pivot from the administration. But it would be a positive shift for the economy and for the president’s own legacy. If heed is not taken, the market action following the election will prove to be foretelling.
Article Source