The financial issues are the ultimate consequence for huge swaths of people, policy makers, CEOs, workers, and investors.
Nothing better than the brink of financial destruction to get people moving.
We’ve had significant policy changes in less than a week! When have you seen this much action in government?
Here’s a proxy chart of stock market action (from wikipedia):
S & P Index, proxy chat
For reference, I made this chart that plots the calendar year and continuous years of one political party that maintains the presidential office. Spikes represent when the party changes. Consider this against the above chart. If you like the raw data, here it is. Volatility does not necessarily imply a change of party, but a crisis and/or complete stagnation seems to. Perhaps change of office is a catalyst, perhaps it’s a lagging indicator. hmmm.
Changes in the Presidential Office
All that said, I’m very empathetic to everyone who’s lost money as the result of inaction. It sucks. It is necessary though.
I hate “corrections”. Corrections are cute and they happen, but they aren’t CHANGE.
Since you’re here and researching, you might as well read up on the US Treasury. Spend some time in the Timeline. Funny how the 2000s are so light? When is “history” history? I have a feeling 2005-2010 on this web page will have a few line items.
My history teacher in HS said that the economy is the determining factor for presidential elections. When the economy is good, people will stick to the party in office. Otherwise, they’ll vote opposite.
The 2000 election seems to contradict this, but I suppose it depends on whether you believe Gore should’ve won.
Guess we can gather more data for this hypothesis in a few months.
And remember that Krugman in the NYT wrote yesterday that John McCain wants to see healthcare follow the unfettered growth of innovative products and services similar to the banking and financial industries during the past several years…
Problem is that collapse will require a re-write of your headline to say “I love when sick people die”
We’re getting there in the healthcare mess, but won’t quite get that re-write until enouhg people with societal “standing” die or until those same people lose enough money on their way to death…