by Dick Morris
Now that Barack Obama has won the election, one thing is certain… he will preside over the largest expansion of the government’s role in the economy since the 1930s — with enormous consequences for your investments. This “New New Deal,” as some Democrats are already calling it, may well have the same result as the original one: to turn a sharp, painful recession into a long Depression.
Will that set the stage for a GOP president in 2012 — the way ’70s stagflation under Jimmy Carter set the stage for Ronald Reagan? I hope so. But, even if it does, some of the damage Obama will cause cannot be undone even if we win in 2012.