By Andrew Nelson in Florida
It's an age old chestnut and God knows where it came from (not facts, that's for sure), but many in the US will stand by the claim that Republicans are good for the market. Don't get me wrong, I'm not claiming any left or any right is good for any market. What I am saying is that effective government is good for markets.
Effective governments come up with policies and good polices should have a life beyond party affiliation. The best thing about a parliamentary system is that the leader and the majority of lower house representatives come from the same party. Thus, while compromise may be the key to good government, the ability to push though needed legislation is the key to effective governance. And I'll take an effective government over an ineffective government all day long.
So while Obama and Romney and CBS and Fox sit and argue economic ideology and pundits line up on the sides to tell us which one is better suited to fix the economy, it really doesn't matter. What does matter is that whoever is anointed needs to be greeted by his own party's majority in the lower house. If Obama wins the Presidency and Democrats don't regain the house, America loses and the fiscal cliff approaches. If Romney wins the wins the Presidency and Democrats regain the house, same thing.
Simply put: The Executive and Legislative branches of US government need to be running in the same direction if markets are going to be able to gain any confidence. Just look at the last two years if you don't believe me. No, have a look at the