Could a GOP November win of the House be good for the markets and economy? Hugh Johnson, chairman and CIO of Hugh Johnson Advisors, shared his insights.
“It’s going to be helpful, but it’s not going to be as good a market as you had in 1994,” Johnson told CNBC.
In 1994, Johnson explained, the economy had been expanding for 45 months, the unemployment rate was around 6 percent and deficits were around 3 to 4 percent of GDP.
“Now, the conditions are a lot worse,” he said. “That doesn’t mean that this isn’t going to be positive for the markets, because it will, but it won’t be as positive because underlying economic conditions are much weaker today than in 1994.”
Scorecard—What He Said:
- Johnson's Previous Appearance on CNBC (Sept. 15, 2010)
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More Market Politics:
- Politics at Play in Dollar/Yuan Drama
- Yes to Paladino’s Tax-Cut Commission
- Roginsky: Where The President Goes From Here
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CNBC Slideshows:
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CNBC Data Pages:
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Thursday's Top Dow Gainers (as of this writing):
Alcoa
Hewlett-Packard
Travelers
Caterpillar
Intel
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Disclosures:
No immediate information was available for Johnson or his firm.
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