There’s another point made in the article I cited in the previous post that I thought was worthy of a post all its own:
Here’s a prediction: The political party that controls the White House after January could, four years later, be out of power for a generation. The economic challenges are that daunting.
So, here’s my question: will the winner in November be Roosevelt or Hoover? Like Mr. Smick I think that the likelihood of the latter being the case is pretty strong.
Europe is likely to be worse off in four years than it is now. Same with China. Our recovery without recovery has now lasted 39 months. What will it be like in another 48 months?
And then there’s the legislative “cliff” waiting.