Ilyce Glink show notes from her October 14, 2012 show on WSB Radio discuss the impact of the coming Presidential election and the economy.
I am about to say something controversial: it doesn’t matter who gets elected because we’re not done with the hard times. Despite all the good news out there, I firmly believe that recession is coming. A bondA Bond is a government's (federal or municipal) or a corporation's obligation to repay you your principalPrincipal is the amount of money you borrow if you're getting a home loan. If you're buying a bond, the principal is the amount you're lending. Typically, you'll buy bonds with a face value of ,000. If you buy a ,000 bond, your principal is ,000. plus a certain amount of interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds. over a fixed period of time. bubble is coming. The housing market and home prices which seem to have stabilized are going to get shaky again…..not just yet, but in 2013. We’re not out of the woods yet.
The question I get asked these days more than any other is: What’s going to happen if (NAME YOUR CANDIDATE) gets elected?
Sometimes I think you’re asking me who you should vote for, right? Because everyone wants to be on the winning team. Will electing Mitt Romney or re-electing President Obama get us away from the growing certainty that recession is coming and onto the path of growth?
No. I believe it doesn’t matter who gets elected because Congress is so fragmented, and the fights are so dirty, that nothing is going to get done. And that’s where the Fiscal Cliff comes into play. If Congress can’t agree on how to fix the budget, then we fall off the Fiscal Cliff – and millions more Americans will lose their jobs because automatic cuts go into play.
We talked about this a few weeks ago. The Fiscal Cliff is real. It’s scary. And it isn’t going to be the 1 percent that feels the brunt – it’s going to be the rest of us.
So why am I telling you to get out there and vote?
I believe in the power of the vote. Just one vote can make a difference. It doesn’t take much more than one plus one, plus a few extra million, to change the course of history. And, I get really mad when I see both parties playing games and making it harder for you to cast your vote.
If you truly want to show what you’re made of, take 15 minutes and go vote. Cast a ballot. A vote shows that you think enough of the democratic process to take 10 or 15 minutes out of your day.
Because it isn’t just the next president you’re voting for. It’s our future.
For more of my thoughts on the coming election and the economy, watch the following video: