This will be a critical election for all investors as it will materially impact future regulatory regimes imposed by Obama and it will impact the economy and the capital markets. It may also finally bring about some level of tax reform. At this date- the weekend before the election, it is highly likely the Republicans will squeak out control of the Senate, and if they do everything changes. Harry Reid has been the one most responsible for blocking any useful legislation in Congress, even though the tea party faction has also been very unhelpful. Harry has blocked any action on hundreds of subjects and essentially shut off any hope of passing anything useful. While I would generally say the less Congress passes the better, but this time it is so bad that it has been quite harmful. If the economy and the country is to progress, and if there is to be a real way to stop Obama from making a really bad deal with Iran, and to force him to take a far more proactive course to stop ISIS, then the Republicans need to win control. Unless they can win and force Obama to actually undertake a major effort in Iraq and Syria, there is a high likelihood of a terror attack in the US, and for sure in Europe. That will be very bad for the economy and for real estate as terror insurance will ramp up in cost once again. It would be bad for the hospitality industry and related business.

What is really disappointing is that given how bad Obama has made decisions, and how incompetent his administration has been, you would have thought the Republicans would sweep the table this election. They are mostly running good solid candidates, and not some of the nut jobs who ran last election. It shows the Republicans have managed to alienate many people with the far right shutting the government and advocating other out of mainstream policies. Clearly the right wing learned nothing from 1012, and to listen to Ted Cruz, who says the only way to win in 2016 is with a strong conservative nominee, he still does not understand anything about the national electorate being more centrist.

I have always marveled at the Wall St and real estate leaders who run fund raisers for Obama and Hillary, and then wonder why our businesses are hampered and harmed by over regulation. It seems pretty clear that these people let their egos get in the way of their business brain. It feels great I suppose to say the president was at my house or Hillary and Bill had dinner at my Hamptons house, but it is not in the best interests of these people's companies. It is fine to be moderate or even liberal on social issues, but one needs to look at what is best for your company, and it surely is not Obama and Harry Reid, nor Hillary who is rumored to be considering promising Elizabeth Warren Secretary of Treasury. Just imagine where we will all be if Warren has a major role in the cabinet, especially as Treasury Secretary. It would be a disaster.