Nov 6th 2012, 9:40 by The Economist online
ON THE eve of America's big election, our correspondents explain the prospective economic plans of both Barack Obama and Mitt Romney
In this blog, our Schumpeter columnist and his colleagues provide commentary and analysis on the topics of business, finance and management. The blog takes its name from Joseph Schumpeter, an Austrian-American economist who likened capitalism to a "perennial gale of creative destruction"
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Markets have a way of discounting and all good news is already priced in well in advance, while the wait is for the bad; curious to understand the nuances how the outcome related market rally could be explained by the continuation of a Presidency, which essentially cannot mean a change in policies overnight or over the quarter.
If it was a complete divide, how could the bouyancy of the market be explained by the clear signal of an endorsement that was only recently repudiated by fund contributions from Wall Street !
Or is it the usual suspects, the punters going for a bubble in the making, when cash is hoarded deep and safe, when credit is loosened further and further while the timing for the fiscal decision is getting close.
Let us only hope that just not the quantum, but the quality of fiscal actions is directed towards sustainable employment generation.
Procyon Mukherjee
Indeed it seems pretty sure that their practical policies will not be much different when it comes to the economics. Those candidates that "threaten" the status quo will never get a shot.
As far as I understand inequality grows mainly because of the massive redistribution of wealth codenamed QE and low rates. On the other hand that and the deficit is needed to keep the consumer juggernaut going for a while, and the income of average joe will decrease anyway - even though the damage could be lower on the long term.
The way I as a non-US citizen see it, I also prefer Obama simply because of the neocon-alike agenda of Romney.