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Markets could be volatile no matter who wins Tuesday's presidential election. Here's what to expect if Obama wins, if Romney wins or -- worst-case scenario -- if we don't know right away.
The polls -- and the analyses of the polls -- give the nod for a very narrow win to President Barack Obama, especially after a relatively decent jobs report on Friday. Mitt Romney's camp says he's going to be the clear winner.
The story is being trumpeted by the conservative media and has caused an uproar online. But it's inaccurate.
TV station WAFF, citing Derrick Moore, a crew member from Decatur Utilties, said workers "were told by crews in New Jersey that they can't do any work there because they're not union employees." Crews from Decatur and Joe Wheeler EMC, an Alabama cooperative, are in Roanoke, Va., though the Joe Wheeler crews are heading home, the report said. They had expected to go to Seaside Heights, N.J., which has been ravaged by Sandy, and are instead going to Long Island, N.Y.
But like the presidential race itself, the strength of the recovery remains too close to call.
The last jobs report before the 2012 elections has given President Barack Obama a modest tailwind. Our Obamanometer reading is close to the highest level it's been at since we started tracking the economy's impact on the race in mid-September.
The Obamanometer seesawed between Obama and Romney for much of late September and early October. But since then, it has increasingly favored Obama, with the latest jobs report likely to anchor the needle on Obama's side during the last few days of the campaign. The report showed that the economy added 171,000 jobs in October, for a total of about 1.9 million so far in 2012.
Runaway campaign spending should depress Democrats and Republicans alike.
The Center for Responsive Politics estimates that the contest between incumbent Barack Obama and challenger Mitt Romney and the other contests on the ballot will cost $6 billion. (I wrongly wrote earlier that the $6 billion figure was just the presidential election). That's about $700 million more expensive than the second-most costly election and more than a $5.8 billion forecast the non-profit issued earlier this year. Anyone who lives in a battleground state is seeing the havoc this spending boom is having first hand. The deluge of political ads is unbelievable thanks to the Supreme Court's ill-advised Citizens United decision.
As residents of the drenched Eastern seaboard take the first steps toward rebuilding their neighborhoods and resuming their routines, the scope of the destruction is gradually becoming clearer.
Superstorm Sandy might have devastated vast swaths of the Northeast, disrupting life and business for millions of people and whipping up billions of dollars worth of damage. But as residents of the Eastern seaboard take the first steps toward rebuilding their neighborhoods and resuming their routines, the scope of the destruction is gradually becoming clearer. Here, an overview of the storm and its effects:
This disaster is an environmental wake up call.
New Jersey's shore is obliterated. Large patches of New York City remain without power. But the real headline about Hurricane Sandy may be about climate change.
It’s no secret that Mitt Romney has embraced being a political chameleon by changing positions from the primaries debates on key issues.
President Obama has slammed him for a nebulous tax policy, but with little apparent impact as the Nov. 6 election draws closer and both candidates are even in national polls. In some instances, the former Massachusetts governor had to walk back comments—such as his claim that 47 percent of the country are takers who see themselves as victims—that he says were either taken out of context or expressed inelegantly.
It is beginning to look like no matter who wins next Tuesday’s election, the eighth Fed chairman Ben Bernanke, whose second term expires on Jan. 31, 2014, will join the two terms-and-out crowd.
Just eight men have run the Federal Reserve Board since Franklin Delano Roosevelt named Marriner Stoddard Eccles, the western Mormon banker who embraced the New Deal, to the newly reconfigured post of chairman. Three, including Eccles, have been long-reigning; two have served two terms and stepped down; and two have been short-timers.
It is beginning to look like no matter who wins next Tuesday’s election, the eighth Fed chairman, Ben Bernanke, whose second term expires on Jan. 31, 2014, will join the two terms-and-out crowd. Republican candidate Mitt Romney has vowed to replace him with someone favoring a less expansive monetary policy.
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Follow Republican and Democratic presidential candidates as they battle for the White House. Explore how monetary and fiscal policies affect your finances. Get insightful analysis of the American political economy and the latest news on the 2012 election.
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[BRIEFING.COM] S&P futures vs fair value: +3.20. Nasdaq futures vs fair value: +5.20. U.S. equity futures trade near their pre-market highs amid upbeat action overseas. The S&P 500 futures hover three points above fair value, which puts the benchmark index on track to challenge its all-time closing high of 1987.98 and the intraday high of 1991.39. Participants have received several quarterly reports since yesterday's close with results coming in somewhat mixed.
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