In a few days, many US citizens will wake up to an election outcome that they did not expect. Based on a large-scale representative survey of US individuals, 87% of Democrats expect Biden to win while 84% of Republicans expect Trump to win. This column argues that in addition to leading some to question the legitimacy of an outcome they did not foresee as remotely possible, this will also translate into widespread economic pessimism, as both sets of voters expect dire economic consequences if their preferred candidate loses. Election-driven changes in beliefs on the part of consumers will likely affect their spending decisions, putting further downward pressure on an already struggling economy.
We all have different political preferences. But despite wantingRead More »