"I expect Republicans to hold the Senate, and probably the House regardless of who wins the 2012 presidential sweepstakes."
Excuse me, but to hold the Senate, you have to win it first.
He writes as if he doesn't know that Democrats, not Republicans, currently hold the Senate, and that they stymie every bill coming out of the US House of Representatives, which the Republicans won and currently hold. He complains of gridlock, but doesn't seem to grasp the political reality which is causing it:
"Sadly, a divided do-nothing electorate is the best outcome one can reasonably expect at the moment."
This is an embarrassingly stupid choice of words, unless we the people who elect our representatives and senators are really the do-nothings. Use your dictionary app, Mish.
It's also an especially stupid thing to say since he just said he expects Republicans to have majorities in both House and Senate, in which case a President Obama would be isolated politically, unlike now. Control of the Senate still gives Obama leverage, whereas Republican control of the House since 2010 has taken away his free hand. A politically isolated Obama would represent progress over what we have now, especially if a Republican Congress has enough votes to override his veto.
Mish's ignorance is appalling, and embarrassing. But it's also fairly typical, which is why we have the government we currently have.
