hdgreen @ seventeen: In fact, I would go so far as to say that there is almost a universal belief among all of the large firms — mutual and hedge and research — that if this president gets his way and the House and Senate stay Democrat we are going to decline precipitously. It is so palpable that it overrides any data that could come out, whether it be earnings, or inflation, or spending, or employment itself.

That cake is baked. I doubt that who gets elected can change things except at the margins. Do cakes have margins?