Wednesday, May 17, 2017

Wall Street finally acknowledges Trump implosion

The metaphorical Wall Street has blinked.  After more than 100 days of ongoing chaos from the Trump administration and the "maestro" himself,  the last ten days have been a storm of continued dysfunction.  Investors capitulated today, and what comes next is unclear.  A further decline may well happen, or a modest bounce back could reassure for a day or two.  What is clear is that Trump is imploding.  There is no control mechanism for his narcissism and immaturity.  He will not last as the President for four years.  His every move seems to compound White House problems.

With the huge amount of power that our system gives the President, there is always the possibility that he could do something rash, or even unthinkable.  That's a big concern.  He has surrounded himself with so little quality leadership that one must wonder where sound advice might come from. Melania has no role or cares to have one.  Ivanka and Jared are already hugely compromised. Tillerson would leave the cabinet if he could come up with a good excuse.  Pence is a pathetic syncophant,  more frightening than most imagine as a possible successor who is waiting patiently with the hope of inflicting his extreme "values" and narrow mindedness on this nation.

When all of this is fully digested by investors here and globally, the outlook for the Republicans passing their vaunted agenda of lower taxes and a more stern society is in doubt.  The lack of a coherent vision of the future is not comforting to smart long term investors.  The strength of the U.S. markets over the last six months has been more relativist than rational.

We await with interest to hear Trump's comments on a market move that he will not jump to take credit for.


Blogger Allen Hengst said...

With regard to your “big concern,” please don't worry about the future. In times like these I take heart in the lines (below) penned by W.B. Yeats as he confronted the reality of his imminent demise.

~ AH

You that Mitchel's prayer have heard
“Send war in our time, O Lord!”
Know that when all words are said
And a man is fighting mad,
Something drops from eyes long blind
He completes his partial mind,
For an instant stands at ease,
Laughs aloud, his heart at peace,
Even the wisest man grows tense
With some sort of violence
Before he can accomplish fate
Know his work or choose his mate.

~ W. B. Yeats
Under Ben Bulben
August 15, 1938

5:08 PM  

Post a Comment

<< Home