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Hillary crying Some of you might view presidential candidate Hillary Clinton’s getting all choked up about her passion for the fate of the nation as making her more human, more real, and less like a stiff politician. I, on the other hand think, she gave it all away. She may have lost ground to Barack Obama in the Iowa Caucuses, and she will likely lose still more ground today in the New Hampshire primary, but I think that bit of humanity that she displayed will do her in. The presidential race will get harder, not easier.

Clinton has enough campaign money and personal fortitude to go the distance, but that video of her breaking down into a tender emotional “softy” isn’t what’s going to get the first potential woman president elected. If Clinton were to be the Democratic Nominee for president, that moment will be front and center in the Republican campaign. Look for campaigning to begin emphasizing personal strength more and more.

Think of Dukakis in the tank. Hillary’s watery eyes are that scene and she has tanked her campaign. I can’t help but think of the old story about how for the want of a horseshoe nail, the horseshoe was lost; for the want of a horseshoe, the horse was lost; for the want of the horse, the general was lost; for the want of the general, the war was lost … all for the want of a horsehoe nail.

For a woman to be elected president she has to project as much personal strength as any man, and until yesterday Hillary Clinton had done just that and more. I personally do not believe this moment is indicative of her ability to lead. However, elections are about more than that. Winning elections are about getting undecided and independent voters to give you their support. That is the support she may have now forfeited.

Those who think Hillary Clinton wouldn’t, or won’t, bring change to a new administration are mistaken. And those who think that this post isn’t suited to an investment blog are also mistaken. Hillary Clinton’s views would affect capital gains and dividend tax rates, health care stocks, military spending, foreign relations, interest rates and much more. The decision about the president is as much an economic decision as it is about anything else.

Do you think this Hillary moment isn’t the end, and if so, why not? Will she now have to modify her campaign to counter the image of an old softy? Jimmy Carter displayed his more sensitive side on occasion, but that is another memory the Democrats will not want to project.

What will be different if Hillary’s voice is diminished or lost?

Sheldon Liber is the CEO of a small private investment company and the principal for design and research n architecture & planning firm.

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