Morning Market Update: Election Day Edition

November 6th, 2012 by

First off: GO VOTE!

If you don’t vote, you don’t get to complain the next four years. (And we all know, whoever wins, there will be plenty to complain about!)

As far as the markets, everyone’s holding their breath for the election results tonight.  Gold has been on a slight incline since the recent dip.  I’ve been reading up this morning, as it seems more and more people are seeing what I’m seeing in regards to China. I’ll post my thoughts on that later in the day. Even more than China, more eyes are turning to the looming “fiscal cliff” in January, now that the “crazy season” is ending tonight. The people behind the wheel as we head for this cliff won’t be whoever wins the Presidential election tonight, but Congressional leaders. It’s time the politicians put common economic sense ahead of ideology and scoring political points, and put everything on the table as far as getting spending under control.

-by David Peterson