Waiting for November 4

Are the markets are waiting to find out who wins the election?

Will trust return if the voters go... for Obama? Republican?

Me, I can't wait for the election to be over. But I'm totally looking forward to the final debate (we're doing another debate party at the Hillside Club, Wednesday 5:30PM, $5) and I'm totally looking forward to the W movie that opens on October 17 (next Friday).

Thinking about a blogger's event for election returns on November 4. A newsroom where 20 bloggers report on the returns in real time, Hypercamp-like.

After November 4, the credit markets will unfreeze, all people who were laid off will be re-hired. The stock market will soar to 20,000. Housing prices resume their march to the sky, home owners once again can borrow against the soaring value of their homes. Massive amounts of oil will be discovered in the middle of the Nevada desert, and scientists at Cal will find a way to convert carbon dioxide into gasoline so we won't even need to tap our newfound reserve. President Obama takes office and announces he's eliminated taxes and retired the national debt, and we all can work three-day weeks. A new drug is discovered that reverses the aging process. Microsoft relents and buys Yahoo at $200 per share.

Comments

[jsarets]

"President Obama takes office and announces he's eliminated taxes and retired the national debt"

That's exactly what he should do! But for once, I'm not being sarcastic.

On November 5, President-Elect Obama should announce a plan to pay down the entire national public debt within two years by issuing interest-free Treasury notes to retire outstanding Treasury bonds on the open market. As the new notes enter the economy and become bank deposits, the required fractional reserve ratio for all banks should be increased proportionally such that the new currency can only be loaned against an equal amount of deposits at full reserve.

The national private debt should also be retired until outstanding debt equals deposits on reserve and the required reserve ratio reaches 100%. At this point, interest payments would be negligible, taxes would drop by 10% or more, no inflation or deflation would have occurred, and confidence would be restored to our financial institutions.

As Thomas Edison observed, if the Treasury can issue a dollar bond, then it can issue a dollar bill, the only difference being that the bond requires exponential growth to stave off monetary collapse whereas the bill facilitates commerce and trade at any rate of growth or contraction. As long as every bill on loan represents a bill on deposit, nobody will have any reason to question the credibility of the currency.

That's precisely the solution to this crisis.

[worldview47]

sorry I meant POTUS not POS

[worldview47]

Hello everyone...did any of you catch the cnn gps with Fareed Zakaria this morning? he had as guest George Soros, (Billionaire). He came pretty close to Senator Obama economic policies, specifically what is needed to be done now to get us out of this mess. Also on this program was a panel of economists...check it out, your POS pick is not irratiional...