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The US Presidential Election on the Final Day of Campaigning

The US Presidential election is in its final day of campaigning, postal votes are in and ballot votes will be done tomorrow. Considering I live in London, and haven’t visited the US since the campaigning began, somehow I feel overwhelmed by coverage.  I watched the last election with an American friend and it was a milestone for US politics to elect Barack Obama. His term in office can be summed up in one quote of a previous US President “It’s the economy, stupid” (Bill Clinton). In the final hours of campaigning it seems as if the incumbents lead is marginal, perhaps boosted by his actions following the devastation of Hurricane Sandy.

If Mitt Romney does take the White House, one area of policy that could be interesting to watch is if he does indeed label China as a currency manipulator, as he has pledged on the campaign trail. This has gained considerable coverage and it seems there are grounds for him to pull out of this pledge (it is actually the US Treasury Secretary’s place, not his) but the ramifications could be considerable if it were to happen.  Now seems a strange time to put the bilateral trade and investment needed from China, to aid the US recovery at risk.

Headlines

UK highest earners face sixth highest tax burden in the world - CityAM

Households face an annual bill of £1,230 until 2017, to plug unsustainable public pension black hole -The Daily Telegraph

UBS banker winding down fixed income unit will receive a share of the profits, if done profitably -CityAM

Britain urged to cut Carbon emissions - The Times


“Remember, remember the 5th of November”

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