People seem confused by this rally. Really a rally on top of a Fed induced (to a very large extent) bull market extending back many years. How can this be, some wonder? Trump is bad news. How could the market tick up, solidly and definitively, in the wake of Trump’s election?
My feeling, and it is only this, and it is sure to contradicted by many a CNBC Squawk Box special guest, is that investors are just relieved that Obama is gone and that America dodged the Hillary bullet.
It may not work the way it’s supposed to but plenty of folks got paid. (And will continue to.) So taxpayers, you can be happy about that.
If Trump wants to blow up a significant part of the group that got him elected, wants to alienate people under the age of 40 totally, wants to hurt the millions of people who benefit from medical and recreational cannabis, wants to extend the unjust and unconstitutional drug war (When did we pass the amendment that allows for the prohibition of drugs in this country? – We didn’t.), and basically wants to do fundamentally the absolutely morally wrong thing then let Attorney General Sessions continue on this unwise track.
This is from before the Comey testimony.
James Comey is a strange character and one who inserted himself (likely) forever into the American consciousness – at least on some level. (You’ve got to think that he’s pleased about that.) Hero. Villain. Bureaucrat. Washington “insider.” Leaker. Take your pick of labels depending on your political disposition and/or desire for the truth.
Surprise. Surprise. They don’t want to tell us after all.
We are shocked!
Jeff Immelt is gone from the head of GE.
Immelt rode the “green rush” for what it was worth and “successfully” engineered a bailout of his company before that. Even still, GE’s stock has underperformed for years. (Though it has done better since jettisoning Genworth.)
Times (and markets) change and so do CEOs.
Trump and Company should probably avoid this kind of stuff. No doubt permits will be pulled and not pulled and roads built and not built because the president is associated with this effort.
It looks like Boeing misread the market. Now it’s trying to get taxpayers to pay for its mistake.
Trump should have let the Export-Import Bank die.
As we’ve said here many times we have plenty of problems with Mr. Trump. But Trump’s critique of the old media, legacy media, whatever, is pretty spot on. The media helped Obama get elected, protected Obama during his presidency, (A pretty good case could have been made for Obama’s impeachment.) and went whole hog in for Hillary Clinton. Of course The New York Times and CNN are pissed. THEY LOST.
Trade protectionism is pretty much ALWAYS about crony capitalism.