The president (whoever that may be after November's election) can impact many things. But what will have the most important impact this year is the action taken by Ben Bernanke and the Federal Reserve. Tax policy certainly will impact economic growth and market returns, but no one in the United States has the type of leverage that the Federal Reserve has, led by the activist Federal Reserve Chairman, Ben Bernanke.

It's a sad state of affairs when governments around the world can't manage their fiscal affairs in such a way that economies can grow as they should in a free market environment. Massive deficits, irrational tax policy, wasteful spending, and a general incompetence seem to be the order of the day on a global basis. Sad to say, the United States is not exempt from fiscal policies that clearly are not benefiting citizens as massive debts pile up left to be paid for by our children. If only governments would be run by competent leaders like Apple's Tim Cook or Berkshire Hathaway's Warren Buffett .

VOD News & Analysis

 PREVIEW-All eyes on Vodafone's Colao for signs on Verizon - 22 hrs ago

 Glencore Shareholders Dump Chairman in Coup - 16 May 2013 EDT

 UPDATE 5-Ex-BP boss Hayward takes Glencore chair after Xstrata clearout - 16 May 2013 EDT

 UPDATE 4-Glencore dumps chairman Bond as clears Xstrata from board - 16 May 2013 EDT

 Billionaire Paulson's Big Housing Bet - 16 May 2013 EDT

 More VOD News