This Can't Be Good

This boils down to one thing only. Wall Street doesn't see any difference between Repugs and Dems. The Dems are doing something wrong if so.

Wall Street is eyeing Tuesday's US election with remarkable indifference, even if it means a shift in party control of one or both chambers of Congress, analysts say.

The market has been on a steady rise, with the blue-chip Dow Jones Industrial Average notching record highs above 12,000 despite predictions of big gains for opposition Democrats, who now are in the minority in both the Senate and House of Representatives.

Art Hogan, market analyst at Jefferies and Co., said Wall Street would be able to live with Democratic gains even though the party is traditionally seen as less friendly to business.

"A victory of the Democrats will look on the surface to be bad for the market, the economy and business," he said.

"People just assume that Republicans are more pro-business than Democrats. It's a popular misconception I would say. There are going be some fears regarding health care, profits from multinational and oil companies, concerns over tax cuts being repealed."

Unfortunately, I'm afraid Wall Street might be correct in their assessment. So sad.

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