Look alive, people. Election day is upon us.
Aside from your small contribution to the nation's GDP and the completion of your civic duty, you need only watch the results come in this evening via the 24/7 Mediacracy. And it should be interesting.
Libertarians posing as Republicans stand to displace incumbents in multiple contests. Long-standing pols prepare to grudgingly part with their family fiefdoms as a wave of electoral disgust washes up on their shores.
We expect the GOP to retake the House, while Democrats will hold the Senate. And these markets will still have room to run as all the puzzle pieces seem in place to provide a picture of the next six months.
What could derail all of this? A surprise victory by House democrats, as well as a Fed announcement at tomorrow's FOMC meeting that QE2 will not be as ambitious as previously anticipated. But, we think both scenarios are highly unlikely.
Buckle up, denizens of democracy. Let the show begin.