Pete Kendall's Socio Times: A Socionomic Commentary

November 8, 2006
Election Leaves Women Poised To Play a Greater Role in Politics
WASHINGTON -- Even before the final tally in election 2006, one group already stood out as victors: women in politics.

The Democrats are poised to take control of the House, and their success stands to make California Rep. Nancy Pelosi the first female House speaker and the most powerful woman ever to sit in Congress.

Last night's Democratic gains immediately will turn attention to the priorities Ms. Pelosi would set for the House's expanded Democratic contingent.

Another prominent woman in Congress, New York Sen. Hillary Rodham Clinton, is the Democrats' presidential front-runner for 2008, preparing for what may become the most serious run for the White House yet by a woman.

But the advances by women are hardly limited to those two headline-grabbing leaders. Across the nation, record numbers of women sought political office this year. Buoyed in part by the public's desire for change and the perception that women will bring it, many of them battled their way through primaries to make it into yesterday's general election.

In the current environment, with the public holding Congress in generally low esteem and many incumbents tainted by scandal, women candidates often are perceived as "agents of change," says Debbie Walsh, director of the Rutgers University's Center for American Women and Politics.
The Wall Street Journal

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Success of Women Politicos Points To New Mood
Category: GIRL POWER
By: Pete Kendall, November 8, 2006
In every field, women gain dominance in bear market periods.
Prechter’s Perspecitve

When women were elected to posts ranging from the presidencies of Chile and Liberia to two city council seats in New York and Washington, the January 17, 2006 Socio Times noted that the victories were “peripheral to the U.S. political scene” but added that they were symptomatic of an unfolding trend change. That change is certainly evident now as female candidates increased their numbers in Congress, as well as state legislatures. At the state level, a record 2,433 women ran for seats, according to Rutgers University's Center for American Women and Politics. The total breaks the record set in 1992. In that year, which is known as “Year of the Woman,” the number of women in the U.S. House went to 47 from 28. This year there are 67 female member of the U.S. House of Representatives. In the Senate, a record 12 women won their party’s nomination and two -- Amy Klobuchar in Minnesota and Claire McCaskill in Missouri -- won close races to increase the number of women to a record 16 Senators and 81 members of Congress.  So here’s another divergence from the Dow’s all-time high. For a closer look at EWI’s socionomic take on women’s roles in bull and bear markets see the full entry from September 2005 issue of EWFF in the Additional References below.

Additional References
September 2005, EWFF
The July issue cited a rise in the “feminine, caring” male role models and noted that the drift toward less stereotypically masculine fashions and lifestyles is a classic response to a bear market in social mood. When The Elliott Wave Theorist first identified this correlation in 1985, it also noted that a rise in “masculine,” “liberated” women is the flip side of this bear market trend. So far, it’s been a relatively quiet assault, but, in many areas, women have already moved beyond the in-roads created with the help of the women’s lib movement back in the 1970s. A highwater mark for female athletes during the last bear market, for instance, was Billie Jean King’s exhibition tennis victory over Bobby Riggs. In 1973, as the biggest bear market since the Great Depression was getting underway, King defeated Riggs in the famous “Battle of the Sexes.” Women are challenging men on their own turf, once again. But this time it’s not an exhibition. “Female athletes—from golf’s Michelle Wie and Annika Sorenstam and auto racing’s Danica Patrick to bowling’s Liz Johnson and minor-league hockey’s Angela Ruggiero—are taking on the men and receiving their greatest receptions.” With a fourth-place finish in the Indy 500 and a subsequent spot on Sports Illustrated’s cover, Danica Patrick replaced Janet Guthrie, the first female Indy car driver (also during the last Cycle-degree bear market of the 1970s), as the most accomplished female car racer in history. A USA Today headline reveals that 15-year old golfer Michelle Wie is “No Sideshow But A Real Threat to Gender Line.”

It’s not just the playing fields. The extension to the highest levels of society is evident in a full color picture of Hillary Clinton in a recent issue of USA Today. She’s standing confidently in front of two GIs in a pose that all but declares the former first lady fit for the role of commander in chief. As “the first female presidential frontrunner in history” she’s already the most accomplished female candidate for the presidency in history. Clinton’s ability to secure the 2008 Democratic nomination remains an open question, but with “tough talk on defense” and an array of “pro-military” stances, Clinton has solidified her prospects. If the Republicans are smart they’ll push their own iron lady, Condoleezza Rice, to the front of the pack.

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