As I write the market has

dipped to around 350 but has now recovered to only 16 down. Where it will go is any one's guess, but my hope is that the Fed's actions have established a bottom that will hold.

Numerous blogs and political pundits are speculating on what a worsening economy will do in the election. Most have, almost automatically, decided that it will help Hillary in both the primaries and then either Hillary or Hussein in the GE come November. This may well be true as conventional wisdom is that a poor economy always hurts the incumbent party.

However, that may not be true this time around. The Demos are promising tax increases and the Repubs can show how Bush's tax cuts gave us a sustained boom. The Repubs, and here they must be smarter than I give them credit for, can also point out that tax increases targeted towards energy use to stop so called man made Global Warming would be a huge drag on the economy.

In fact, they can even use Bill Clinton as their spokesman.

January 31, 2008 9:26 AM

Former President Bill Clinton was in Denver, Colorado, stumping for his wife yesterday.

In a long, and interesting speech, he characterized what the U.S. and other industrialized nations need to do to combat global warming this way: "We just have to slow down our economy and cut back our greenhouse gas emissions 'cause we have to save the planet for our grandchildren."

Link