These election results mean that corporate America is in a LOT of trouble. The old model of hiring a Dem lobbyist when the Dems win or an R lobbyist when the Rs win, and then doing business as usual, is over. Corporate profits are at record highs, and the labor share of the economy is at record lows. That's going to reverse.
Dozens of data center ballot initiatives passed, as did limits on electric utility lobbying, and a flood of young populist left-wing candidates will now be taking office in red and blue states. Americans are angry at corruption and corporate greed. A Democrat won a South Carolina Senate seat on a campaign to break apart the awful health care system we have.
We are going to see a bunch of fumbling around for awhile as the new candidates figure out how to govern, but after that, it'll be a reversal of the neoliberal era. Get ready for actual public utility regulation in a lot of different sectors, as well as stronger rules against monopolies, corruption, price gouging, excessive CEO pay, and financial extraction.
Pour one out for CNBC and Jim Cramer.