Bartiromo: GOP-Controlled House 'Most Important Near-Term Catalyst' for Economy
As the not-so “recovery summer” draws to an end, many are scratching heads, wondering what it will take for the economy to pull out of this recession.
According to Maria Bartiromo, host of CNBC’s “Closing Bell,” it will be political change in
“This is probably the single most important catalyst for the stock market right now,” Bartiromo said. “I think that the perception of confidence, the perception that perhaps we won't see tremendous change in terms of higher expenses in 2011 if we were to see the Republicans gain control of the House, it will probably be a positive for the stock market.
Bartiromo’s appearance on “Today” was to promote her new book, “The Weekend That Changed Wall Street: An Eyewitness Account.” In her estimation, A GOP takeover would create confidence and induce people spend more money.
“That could create a rally and believe it or not, rallies like that make people feel richer,” she continued. “They get a better perception out there and they get people to spend more money. So that's probably the most important near term catalyst.”
It’s estimated that corporations are sitting on at least $1 trillion that if freed up and put back into the economy, it could rescue the country from this recession.
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