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FBN’s Lou Dobbs on the early election results and whether it will impact the fiscal cliff.
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All right back to my colleague -- friend Lou Dobbs.
So -- shoppers yet.
What do you -- -- and others a bit of a shocker from Robert wolf when you hear his idea of bipartisanship.
CN I never -- He he he rattled off the Obama agenda -- -- -- -- immigration reform infrastructure wants a fiscal deal.
We've seen a fiscal deal where you run up you know two trillion dollar plus -- nobody in your area -- do you think it changes of -- who wins tonight Lou do you think.
I mean you got this fiscal cliff you've reported on -- day does that change is the -- move.
It has to -- and it's one of those unfortunate.
Times in our history in which.
The events will dictate the policy that falls this president no matter how much you would like to continued to spend money will be constrained.
Governor Romney should he win -- has made it very clear he is going to introduce the idea.
Of fiscal policy responsibility into the federal government once again.
So I think that that's clear in this beyond relieved the volition.
President or will it.
There's still there'll certainly the same deadline -- sometimes we place the -- sensitive about it is something they don't know it's they don't always.
But in this instance I I have to say but he is Robert wolf was talked about dealing with future he said -- -- fiscal deal.
Sometimes had to -- I think it is you have until December 30 -- -- build the common wisdom you get on this Lou is that they -- That is they extend everything for another six months to year is that what they do.
No because what they will not be able to -- Our will be the reaction of these markets.
And interviewed big -- it would be a tremendous sell off and I'm talking about both the bond market the equities market the debt market of this country will collapse.
It's simply cannot be done.
And if they EU he Erica as Smart as Robert wolf.
With all of his years as an investment banker to make that kind of the -- -- sometime in 2013.
I -- he was giving us a nice warm hug there as emissary of.
President Obama's wouldn't do -- -- last -- -- on the markets -- that do you get a sense that.
I was raising of the progress that -- Mitt Romney might not be the short term tonic and other words.
He it's very much against Ben Bernanke -- to cancel these quantitative easing -- -- these stimuli and and that.
He might take the -- -- away and and the markets might protests guests of the near term reaction would be itself.
The near term reaction would be perhaps all like if I'm right because you're you're making the assumption that -- I camp -- to and that is.
That any candidate for president whether Democrat or Republican will do what he says he will do monitors and such stark and and -- terms.
I think here Romney would introduce -- to visit.
He would introduce fiscal responsibility but in measured.
Tones and qualities so that it would be in fact.
Positive for the economy and for the markets rather than a shock to our financial system.
You -- -- -- you were to repudiate.
Some of these.
Fed fixes are absolutely grandmother or you can repudiate -- you know.
Any president can repute hitting an all embedded girls -- that aren't I can't go to bigger product -- Bernanke's the man.
Yeah and you know he can be pressured he can be squeezed.
And perhaps even more -- -- and by that I mean push out of office right.
But his term expires in 2014.
It's unlikely by the way despite all the protest an awful of noises we hear emanating even from Wall Street.
That they're very they're not many CEOs of financial institutions -- world.
Are really crushed by the idea of qualitative easing they've made a lot of money -- so and counselors -- that you're -- -- with of hypocrisy here's our.
Is that that's not what somebody outside and I want to get off of that back up.
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