Newsweek Tells President Barack Obama To “Hit The Road”, Let The Risk-Taking Begin?
Newsweek was one of the first non-conservative magazines to claim President Barack Obama “must go”. The article from Newsweek is particularly important because it invites political risk-taking. We believe stocks have already jumped due to excitement about the Romney-Ryan ticket and although this doesn’t mean they are going to win, it does suggest they may be more formidable opponents than their predecessors McCain and Palin.
Romney and Ryan are still losing the battle on the agenda. The policy battle over Medicare and Governor Mitt Romney’s taxes are riding shotgun as opposed to the weak economy that isn’t getting highlighted. This works for President Obama and the continued pressure could be successful if Mitt Romney doesn’t turn the tide.
Regardless, the Newsweek article could be the beginning of a sentiment change if the liberal media realizes they can’t have all their eggs in one basket and decide to give Mitt Romney a chance to change the economy for the better. The Romney rally may pause in the short-run but stocks look poised to jump if uncertainty declines and ‘perceived’ regulatory pressures on businesses are decreased. President Obama has done nothing about the fiscal cliff and decided to double-down the same issues that Democrats lost in 2010. He may get it right this time but he doesn’t have the same media penetration he had before. We have already heard rumblings that some candidates in the Democratic party may be ready to jump ship and won’t campaign with him.