The election results of yesterday, November third, prove the Beatles were right. The rich candidates who spent lavishly didn't buy much love. Mayor Bloomberg of New York City won but had a much closer result than the expected landslide. Gov. Corzine of New Jersey spent a ton of his vast fortune--- and lost handily.
Some of the Republican right are beginning to crow, seeing these victories as emblematic of future gains, but I wouldn't place large bets on their predictions.
What you are seeing is the malaise of the general public at the state of the economy. Economists say the worst is over, but it takes a long time for the improvements to show in terms of better employment and overall corporate sales increases and hirings.
What I note is that the Oracle of Omaha, Warren Buffett, put his money where his mouth is and paid 34 billion for Burlington Northern, citing his faith in the railroads and the economic future of America. If someone as financially astute as Buffett has faith, we should, too.
Let's keep the faith, baby, and hold tight: the ride will get better.
The Republican right is trying to root out the non-believers. Witness the congressional race in New York's 23rd House District. And it backfired. Buffett called his investment an "all in" bet on the American economy. He doesn't lose.
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