Divided government: best of both worlds?
A Democrat President Biden constrained by a Republican Senate is exactly what American voters - and certainly the financial markets - wanted to see happen.
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INTELLECTUALS tend to contextualise political developments - the US election being the most recent example - as part of Grand Narratives: It's the victory/defeat of the Left/Right! Populism is in/out! Trumpism is dying/surging! Republicans/ Democrats have lost/won!
There is no doubt that employing these kinds of grand narratives can help us make sense of dramatic political changes, including the electoral defeat of Republican President Donald Trump and the coming presidency of Democrat Joe Biden.
Most Americans, however, are pragmatists, and (contrary to the conventional wisdom even now during the era of so-called "polarisation") are politically centrists, whose votes are driven not by ideological dogma but by the let's-cut-the-BS-and-get-things-done attitude.
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