Professor Elam

Classic lows in consumer confidence relate to recesions.   No surprise in that!  And no surprise that they bring changes at the White House.  Markets are all about psychlogy.  Candidates are all about, like markets, hope fear and gree.  Frankly I don’t thnk a majority is for any of the current three Presidential candidates as they all seem to have lots of negatives. The very uncertainty of the outcome of the Dem nominatino probalby adds to the lack of confidence, here we have a major party that cannot fashion a way to even pick a candidate. Meanwhile the othe party ends up with a former ‘maverick’ that everyone had written off just months ago. Is this anyway to pick a leader?

I would not agree that American markets reigned supreme just moths ago. A few years back 24 of the 25 biggest IPOs originated outside the country.