The Lost 23.5 %
Assuming that the number is correct, i.e. 47 percent of the people in the US don’t pay taxes, and that a big portion of them are people out of work, people in low paying jobs, and older people on SS, it seems reasonable that half are probably Republicans. What do they do now that their candidate doesn’t care about them, they are the 23.5 percent, maybe they are the new independents.
As to markets, some prominent market pundits, especially one in commodities, are trying to hide behind the view of world disorder to explain the market surprises that are unfolding for them. More surprises are coming and the bottom-line, until Congress wakes up, the fiscal issues will continue to overcome Fed policy.