Who won the big presidential debate tonight?
If you want to hear that your candidate won, just find the right channel on your television set. Fox will tell you about Mitt Romney’s debate victory. MSNBC will tell how solidly Barack Obama trounced his debate opponent.
For weeks, the media has told us time and time again how Mitt Romney had a chance to make a huge comeback with a great debate performance last night. On the other side of the political aisle, all we heard prior to the debate was how a good performance could surely cement Barack Obama as U.S. President for four more years.
It is no wonder that last night’s debate was highly publicized. Mitt Romney could close the gap; Barack Obama could put the election next month out of reach completely.
The truth about last night’s debate, and even the entire presidential election, is that it makes no difference who anyone thinks won the first presidential debate last night. To finish the point; it makes no difference who wins the presidential election next month.
The stock market always wins the debates about the U.S. economy and the U.S. stock markets. For many Minnesota investors, their jobs and their investments are closely tied to the direction of those two economic forces.
Minnesota investors need to keep their jobs, in order to save enough money, to pay for the things they need to pay for as they move through their careers. At the end of their careers, they need to have enough money saved to retire.
The stock market is the greatest forward looking indicator ever invented. The stock market reflects what the most educated, most experienced and most technology sophisticated financial and investment experts really do with their own money.
It is much more important to your job and to your investments what the smartest stock market investors in the world think. I can assure you that those investment professionals don’t care one iota who won the debate tonight.
The stock market has already spoken. Optimism about corporate jobs, earnings, products, and growth has taken the stock market levels to over four-year highs.
The stock market debate is good news right now for all working Minnesota investors and their investments. Tonight’s debate, and next month’s election, is just for conversation.
Ric Lager
Lager & Company, Inc.
