The Way We Live Now: gridlocked. And loving it! The greatest thing about our nation's constant reversion to the political mean is that it allows our investing class to go about their business unimpeded. And their business is winning things!
Now that America has voted resoundingly in favor of political gridlock, our chattering classes get down to the real brass tacks 'n smacks: Is gridlock good, for people with money? Wall Street's preferred Journal warns that gridlock can often hurt stocks. Others say it "might not be bad for the economy." Still others say it could go either way but whatever you do, buy the big bank stocks, they always seem to have a lot of money lying around.
The point is that with all of these diverse opinions about the merits of gridlock, our nation's opinion system remains gridlocked, which is unmistakably good for the ruling class. Chatter away, professional "thinkers!" While you're having that debate, Washington is stuck on stupid, and our nation's most powerful unions are preoccupied with infighting, and regular folks have to clock out every time they take a smoke break, which is the only thing keeping them sane as they toil away in the rotten underbelly of capitalism's back room drudgery. This all leaves Wall Street free to dream up its next exotic economic derivative innovation that won't turn out like last time, they promise. Gridlock is not just useful; it's absolutely necessary, if we as a nation are to give our wealthiest citizens a fair chance to increase their immense stake in every last thing.
But yea, bank stocks. The legislative environment is "favorable."