The US midterm elections didn’t result in the huge red wave of Republican victories predicted by polls and media pundits. The Conversation came closer than many of these same forecasts in calling it correctly in our last episode, seeing narrow gains in the House of Representatives and no big shake up in the Senate. As of this latest Conversation, it was a lackluster performance overall for Republican candidates nationwide. Democrats, though likely to lose the House, far outperformed many expectations. Republicans turned in the worst midterm performance for the opposition in 20 years, analysts say. In this latest Conversation, DICK BOVE, chief financial strategist at Odeon Capital Group, said that in his opinion the results were “very positive” since it would help return the nation back to “American core beliefs.” 

Still, MAT VAN ALSTYNE, Odeon co-founder and managing partner, said the only consistent thread in this election and US elections every two and four years is how wrong the pollsters have been.  JOHN AIDAN BYRNE noted that Republicans overall won the popular vote and notched up some significant gains in New York and other parts of the country. In the midst of vote counting came the collapse of the giant crypto platform, FTX.  BOVE argues that the industry will ultimately emerge stronger from the implosion of this once revered crypto operator with losses estimated in the billions of dollars. MAT VAN ALSTYNE says the FTX destruction was bad for everybody. “It was the equivalent of the Fed failing,” says. “It looks like a classic Ponzi scheme.”

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