As we approach next year’s presidential elections, the chances of President Barack Obama being ousted by a rival from either side of the political divide are low, according to Thanos Papasavvas, the head of currency management at Investec Asset Management.
“History is very much on the side of the incumbent President and unless we have a double-dip recession with a significant increase in unemployment I don’t believe Obama will lose 2012,” Papasavvas said in an interview with CNBC on Thursday.
“On the economic side, any signs of a deteriorating economic environment will see the Fed enacting QE3 (the third round of quantitative easing, or creating money) and hence indirectly reducing the probability of the economy derailing Obama,” Papasavvas added.
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Unless massive ‘fraud’ occurs, I am not convinced that this guy will be re-elected. I just don’t believe he hype. It’s the GOP’s to lose.