Howie: The scenes of Florida voters waiting on line for hours were a national disgrace. And there is a partisan battle over voting rules and restrictions that is playing out in the courts. This deserves more media attention, but we tend to cover it only every four years.
Thanks for the question. Glad to clear up the bad info that you have. There is no state money involved in building the new bridge. The Canadians are going to pay for the entire project and be repaid by tolls from the bridge. It is a great opportunity for Michigan that will create lots of jobs and reduce our risk of too much reliance on an 80 year old bridge.
Only in the last few weeks has that been called into question. I have done 100 years of research using the stock market to forecast the election winner. Polls are often wrong as we glaringly saw in 2000.
If we don't have a clear cut winner by the open tomorrow, I expect the stock market to sell off
And I think we see a sell off if Romney wins as well. That is counter to many in my field. I think if Romney wins, the stock market sells off 2-5% by Thanksgiving.
If Obama wins, I think the market rallies to new highs for 2012 by year-end
Tomorrow should be telling in that whatever the move, I think it continues. So if stocks rally tomorrow, that's the trend for a few weeks and vice versa.
Paul: Can you go into a little detail on why you expect those reactions?
Regarding a possible Obama win, the market has had a long time to digest what's going to happen. There shouldn't be any surprises. ObamaCare continues as is. Taxes are going up.
The market is already in a favorable time of year and is in need of a little spark.
Romney has run on a fiscally conservative agenda, meaning less government spending and major budget cuts. While that is very good long-term, it still means less money in the system and that would hurt GDP. The market hasn't given Romney much of a chance until the past few weeks.
The last guest today is Scott Tinker, State Geologist of Texas, and director of the University of Bureau of Economic Geology and the acting Associate Dean for Research in the Jackson School of Geosciences. He and director Harry Lynch created the documentary "Switch: To a Smarter Energy Future," which investigates how America gets its energy and how it might gradually transition away from fossil fuels. Can you tell us a bit about the film, Scott?