The Obama Market Discount Being Priced In

James Pethokoukis at U.S. News makes a convincing argument that the Obama discount is being priced into the stock markets. Although anecdotal, I believe the investor class understands what happens to the U.S. economy and stock prices in the face of huge budget deficits, new regulations and government programs and significantly higher taxes on income and investment.

*Update*
CNBC said today that the market bounced off its lows after rumors that the White House race is getting tighter. There is no question that a potential Obama win is part of the reason the markets are getting hammered.