ISSUES....
Inside, confidential, off the record

Garthman on US elections

The elections in the US are but days away, and we stand by our thesis that the Republicans will lose seats in both the House and the Senate, but will hold their majorities in both houses of Congress. Quite honestly, this does not please us all that much, for as centre-rightists, we have been horribly dismayed at the fiscal policies coming from both houses of Congress, as well as the President's unwillingness to wield his veto power over some spending measures. We understand the constraints he's been placed under without having a line item veto, but Mr. Bush should have used the bully pulpit of the Presidency to veto spending he objected to and take his objections to the people via the media. He's not done so, and that we think has served him ill. We would prefer the gridlock that would come from a divided House and Senate. That is government at its best: one that cannot do much to harm us. We savour gridlock. All of us should.

For more on interesting comments, you can subscribe to The Gartman Letter by contacting Dennis Garthman: Phone 757 238 9346, Fax 757 238 9346 or dennis@thegartmanletter.com

Petroleumworld 11 03 06

ISSUES....

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