Tuesday, December 02, 2008

The filibuster proof Senate


Tonight's results in Georgia make the possibility of a filibuster proof Senate a bit more remote. If the clown is elected in Minnesota then the numbers would still be close but in key events the dems will need to muster a couple of GOP members to assure the onslaught. Chambliss seems to have gotten well over 55% against Jim Martin.

We now need to wait for the Minnesota results. From my perspective this was always the most important race. Franken would be an embarrassment in the Senate, as he was on talk radio and in most of the rest of his career. But the results are annoyingly close.

The best shot for the country at this point would not to give the dems unlimited control. If you want to get worried look at a recent chart from the St. Louis Fed - the hockey stick increase in monetary base should worry almost anyone - offering both the prospects of a liquidity trap and potential future significant inflation. The dems should be able to adopt their policies - after all they won the election - but giving them the full keys to the levers would be a mistake.

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