When we wrote our comment on the U.S. election in June 9th, we compared the race between Barack Obama and John McCain to the election of 1976 between Jimmy Carter and Gerald Ford. We noticed the parallels between the stagflationary economy this past summer with that of the economy in the middle 1970's and the backgrounds of the two presidential candidates. We noted that the race would be close, contrary to most of the conventional expert opinions, UNLESS the economy got worse over the summer and into the fall before the election. Under those circumstances, we felt the momentum would shift to Senator Obama and he would pull away to a convincing victory. Through August, the presidential race was a dead heat as the Russian invasion of Georgia took center stage in news headlines. However, by the middle of September when ... Log in to view full article.