Necessary But Not Sufficient
On Election Day, our finely-honed political instincts led us to expect that the Democrats would win the House of Representatives by a respectable margin. A slim win on the Senate side seemed possible, but a prolonged period of uncertainty seemed equally likely. So, caveat lector, i.e., reader beware. On Wednesday, obviously, we had to re-assess our forecasting skills. That sobering moment aside, the day seemed to have been scored by Louis Armstrong: “What a Wonderful World.” After waking up four thousand times in a row in a nation dumber than it was the day before, suddenly things were different. Obviously, nirvana is not yet here. …