From Minyanville:
In 4 weeks, the country will likely elect Barack Obama; Congress will be overwhelmingly in the hands of the Democratic Party. Mr. Obama has made it clear that he will increase taxes on corporation and those earning more than $250,000. His plans include health coverage for all Americans and major spending initiatives on education and infrastructure. With colossal deficits, a protectionist Congress, tax increases coming, and gigantic spending initiatives, the next 4 years will be exceptionally difficult for the US. economy.
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