Rahm Emanuel

Rahm Emanuel won a 2nd term last night as Chicago's mayor.  The campaign was unique in that it was the first time that a Chicago Democratic machine candidate has ever been forced into a run-off election and pitted the progressive wing of the Democratic party against the established political power structure.  This campaign was obviously a big deal if you lived in our region.  What happens to Chicago in some way effects the other 6.2 million of us that live in the communities and counties surrounding the city.   But the election has implications beyond here, reaching into the presidential campaigns of Hillary Clinton and likely that of Jeb Bush down the road.  

We have an excellent columnist over at the Chicago Tribune named John Kass.  Mr. Kass has long chronicled the political comings and goings of the city and he pulls no punches when giving us his interpretation of events.  Mr. Kass even has a term for it, "The Chicago Way".  That's why I urge you to go read his latest column on the elections last night.    "Hillary can look to Chicago to Understand Power"  will tell you much of what you need to know in understanding the fight that is going to occur over the next two years to control the White House.  

We really don't have two political parties any more, at least not like the majority of us thought of them when we were growing up and you are over 40.  Instead we have a political class.  Men and women who are attracted to pulling the levers of government at all levels.  These folks become Republicans or Democrats today often less out of some devotion to a political ideology than out of necessity.  If I for example wanted to run for political office in Chicago I would need to be a Democrat, regardless of what I thought.  It's simply impossible to get elected otherwise in the City.  If I'm running in most of Texas, I'd need to be a Republican.  This is not a column to rant against the system or the folks running for office.  Indeed, some run out of a sense of public service and others do it because they are attracted to power.  It's not my place to judge these people in their motivations, nor is it my place to judge the many who follow in their wake as advisers and what not.  I invest money for clients and so I need to understand these things and how it will effect the investment environment.  That's why I think last night's election here has national implications and why I'd urge you if you can to go read Mr. Kass's words.  

{Note that the column mentioned above may be behind a paywall and you might have to register with the Tribune in order to read this if you are not already a subscriber.}