Forget Ohio: Obama’s Fate Still Resides in… Europe

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Talk about swing states all you want, but today’s Dow drop stems from renewed financial trouble in Spain, which has the clammy grey hand of a catastrophic Eurozone crisis on the stock market’s shoulder again. (That, despite a modestly good indicator about domestic job growth.) Our brilliant Rana Foroohar suggests that a European disaster, if we get one, wouldn’t come before next year–late enough to spare Barack Obama from a vicious blow to his re-election prospects. But the fact remains that he’s hardly out of the woods on the economy, and all the political punditry in the world can’t answer the most important question: How will the economy fare over the next six months?