Personally I think the recent drop in POG was designed to improve the Democrats rotten showing in today's mid term election. It started with with the FOMC meeting and then really accelerated with Friday's initial GDP showing an increase of 3.5%, when 3% was expected. This will be revised down at the second showing coming.
These mid term elections are most important to Obama. They differ from full elections in that less people actually vote. The poorer folk, mainly Afro Americans and Latinos don't participate to the same extent, thus the Republicans are favoured. So what we will have is Obama, still trying to get policies thru' with a rep majority in the House, and most probably a Rep Senate majority as well to fight against for the next two years. Obama's only hope of retaining a Dem Senate majority is if great economic numbers were reported. And some were better than expected. The GDP usually gets revised, and it is my opinion this revision will have to a less flattering number. We wait and see.
