Obama vs. … Osama?
CAN THE OUTCOME OF THE PRESIDENTIAL ELECTION BE PREDICATED ON JUST ONE EVENT?
“Obama Now Unbeatable” “Bin Laden Death Will Be Republicans’ Waterloo” read two of last week’s headlines juxtaposed to “Boost Likely to Be Fleeting.”
Frankly I cannot think of a sillier expenditure of mental energy than speculating about the impact of killing Osama bin Laden on President Obama’s reelection chances. That is not to say it will have no effect. But presidential politics should not be treated as a sports event with everyone toting the odds.
For short-term stock investors the behavior of other investors is relevant — psychology is often more determinative of short-term stock prices than underlying value. But how one’s fellow citizens will vote should be irrelevant to general election voters. The only relevant question is: Who will make a better president or senator or governor?
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