Government gridlock is not good for markets

Annie Lowry looks at the effect of a divided congress in this article in Slate (see also Ezra Klein here).  Her conclusions: a sharp rise immediately after the election followed by slow growth after the reality of gridlock settles in.  The “markets” initially believe that gridlock is good because the “markets” are in reality 22-27 year-old business school graduates who have no real historical perspective.

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