November 14

11/14 - The U.S. survived the mid-term elections with no major problems or fraud accusations. Despite Joe Biden’s low poll ratings and questionable fiscal policy, there was no “red wave” of rejection – nor much of a blue ripple of support. Consider it a victory for “purple” Americans mostly voting the issues of inflation, abortion, crime, and immigration. Republicans look to retake the House of Representatives; Democrats held on to the Senate. In a victory for democracy, independents largely came out against election deniers. For Republicans, it means the Trump era will likely give way to the DeSantis era. Split control of House and Senate foreshadows at least 2 years of gridlock, similar to what occurred during Obama’s administration. Economically that means stability for the financial markets, with politicians unable to muck things up. Historically, that’s been good for the stock market.