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Wednesday, November 7, 2012

We won the election



We won the election. On its face that statement will make half of my readers mad and half of my readers happy. I would make the same claim if Romney had won. We had a peaceful election and settled the political competition without a bloody revolution or poison in the King’s wine, and even the protests were small and sporadic. There is a small minority, maybe 10%, which are bitter even acerbic with the results. I am just glad that we are through with it, that we completed this excessively negative campaign without any violence.
One fact of note is the voter turnout. Presidential elections have a higher turnout than the congressional elections. In 2010 the Tea Party made historic gains on low voter turnout, in 2012 democratic candidates prevailed in the higher turnout. This proves the importance of every single voter going to the poll and casting their vote. Your vote and my vote do matter. The vast sums of money spent by a few super rich did not buy the election. Some of the pundits are claiming there are two different American electorates, one in 2010 and a different one in 2012. We do not have different electorates, we have the same electorate with different turnouts. Democracy works best when most vote. Voting is the formal institution that we use to express our opinions. Those that don’t vote don’t record their opinion.
Another observation is that we need to embrace our diversity. Our strength as a political unity is our diversity. As an aging demography we need the young immigrants, the young immigrate not the old. Just having a legal and sensible immigration policy would solve all the projected problems of social security insolvency. An intolerant immigration policy restricting Indian nationals, Asian nationals and South American nationals weakens our nation. Historically a small and highly vocal group has fought immigration. I come from the Irish fleeing the potato famines of the ninetieth century, over the long run we helped build America, the exact opposite of the projections from the anti-immigration faction of the 1840s. The same is true today, the claims and projections of the vocal anti-immigration right are completely wrong. Their argument today is exactly the same as 170 years ago. The nativist American Party of 1840 promoted “traditional American ideals” and their speeches would sound contemporary today coming from Colorado’s Tom Tancredo.
I have some hope that we will deal with the next big problem, the fiscal cliff. Although not enough hope that I will stay in the stock market. I have closed over 50% of my equity positions and plan to be completely cash by mid-December. If the political class fails this test then cash will become King. One possibility of failing the fiscal cliff problem is another down grade of America’s credit rating and a collapse of the dollar. This could drive gold futures to new high prices, haven’t made up my mind on this investment play.
My greater hope is that the mid-term congressional elections of 2014 will have a high voter turnout. The American voter can save America from the special interest minority. Our greatness is that we can fight and argue and then go work the problems together.

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