Obonomy!

Unlike my journalistic betters, who endorse candidates in foreign countries, I recognize I do not possess American citizenship, and consequently, do not have a vote to cast in the US election. If I had to pick a side, I'm on Spenglar's.

There’s no textbook description for this condition, so we’ll give it a name: the Obonomy. The anti-business toxicity in Washington is so intense that that no-one will take risks.

The investors’ strike is especially onerous given that the average profit margin for the nearly 4,000 exchange-traded public companies for whom data are available was over 18% during the second quarter of 2012. Why wouldn’t investors put more money into businesses earning 18% year, rather than buy safe securities yielding the rate of inflation or less? The answer is that they are terrified of the anti-business environment. If Obama is re-elected, business will hit a wall of tax increases and face a regulatory reign of terror.

The great American profit machine has stalled. If Obama is re-elected, we are all going to be poorer.

Oy vey.
(h/t Texas Scribbler)