Both Parties Should Be Worried About Cantor’s Defeat

TND Guest Contributor: Dave Kranzler | 

Obama’s popularity hits a new low – 64% say the country is on the wrong track:   link

It wasn’t just a defeat suffered by Eric Cantor, it was near-landslide loss. CNN is promoting it as being disruptive to the Republican Party.  Fox News is pimping it as a big victory for the Tea Party.  But the truth is, Cantor’s crushing loss was a definitive message sent to the electoral Establishment.

Seriously, can anyone really tell me if there’s any difference between the two Parties? Is there any difference between Bush and Obama?  Bush gave us the Patriot and Homeland Security Acts – both reflective of Totalitarian creep.  Obama gave us Obamacare and ratified Bush’s Detainee Bill, both are reflective of even more Totalitarian creep.

In my view, the message sent by the electorate in the Cantor crushing was that Americans are sick of big Government, both Republican and Democrat style.  I suggested a year ago that we could well see voters hand all of Congress over to the Republicans in 2014 as a means of trying to put Obama’s Totalitarian agenda in check, similar to what happened in 2006 when voters gave Congress to the Democrats to try and offset Bush’s agenda.  N

Note:  if the voters give Congress to the Republicans, it’s not an endorsement of Republican politics – which are not much different than Obama politics (Obama is an even bigger war-monger than Bush was) – it’s about trying to create legislative gridlock in order to stop ALL legislation from being enacted.   Obama’s popularity numbers are doing what Bush’s did in his last 18 months:  plummeting.

But, just like 2006, once the new faces are firmly in their seats, K Street will go to work with Wall Street and Corporate PAC money and buy the new bodies, just like they bought the new bodies elected in 2006.

Nothing will change and this country will continue its inevitable march toward Banana Republic status.

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About Dave Kranzler

 I spent many years working in various analytic jobs and trading on Wall Street. For nine of those years, I traded junk bonds for Bankers Trust. I have an MBA from the University of Chicago, with a concentration in accounting and finance. My goal is to help people understand and analyze what is really going on in our financial system and economy. You can follow my work and contact me via my website Investment Research Dynamics.  Occasionally, I publish on Seeking Alpha too. As a co-founder and principal of Golden Returns Capital, LLC Mr. Kranzler co-manages the Precious Metals Opportunity Fund, a metals and mining stock investment fund.

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