Bloomberg News with something worth keeping in mind now that we’re in the final 48-hour freak out:
No matter who wins the election tomorrow, the economy is on course to enjoy faster growth in the next four years as the headwinds that have held it back turn into tailwinds. Consumers are spending more and saving less after reducing household debt to the lowest since 2003. Home prices are rebounding after falling more than 30 percent from their 2006 highs. And banks are increasing lending after boosting equity capital by more than $300 billion since 2009.
Of course, just because the economy is set for a recovery doesn’t guarantee one. Still, the bulk of the data currently available suggests that whoever sits in the Oval Office for the next four years will feel the economic winds at his back as he goes about his (either first- or second-term) business. That’s good news for the American public obviously, but also, politically speaking, for whichever party comes out on top on Tuesday, given they’d be able to shape the political narrative between now and the midterm elections around any economic rebound. You can read the full Bloomberg piece here.
