What will happen in three weeks regarding election and the economy? Whether Mitt Romney or Barack Obama is voted in, there’s the small matter of the fiscal cliff to resolve. And as usual, providing personal finance advice, real estate advice and consumer advice on the Ilyce Glink Show on October 14, 2012 at 11:00am Eastern Time on WSB Radio.

The Presidential election is three weeks away and at this point, we don’t know if the winner will be Mitt Romney or the incumbent Barack Obama. A new poll released this morning shows that, at least in Georgia, Romney is up on Obama something like 53 to 41 percent. But there’s no surprise there. Georgia is expected to go red. I can tell you that no matter what happens, people on both sides of the political spectrum will be following the election and the economy. The looming Fiscal Cliff discussion will follow shortly after the final ballots have been cast.

The number one question I am asked these days is only tangentially related to homeowners, the housing market or personal finance. People want to know what’s going to happen if (fill candidate in the blank) gets elected? The answer, I am sorry to say, is that I don’t think it matters. Neither Romney nor Obama has a quick fix.

Despite all the good news out there, I firmly believe recession is coming. We have a bond bubble for starters and it’s going to pop eventually – just as real estate did. This bubble has been formed by historically low interest rates but as our past has shown us, you can’t go up forever.

For more on my fears related to the election and the economy, read my show notes and watch my latest YouTube video, “Do Elections Affect Real Estate?”

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