Skip to main content

Market reaction to Trump's nomination

So far not much!

Everyone predicted that the market would drop 100 to 200 points (the S&P 500) and in fact nothing has happened.  So far Trump has made unsurprising nomination -- his real chef of staff will be Steve Bannon, whilst Reince Piebus will be the nominal chief of staff.  For starts RP is a good friend of the GOP, whiles Bannon is a sworn enemy of Paul Ryan.

Its not clear what Trump will do on Obamacare, while the GOP wants to abolish the thing, Trump has said that he will abolish Obamacare when Congress sends him a replacement plan...it could take a while since the GOP has never moved beyond a white paper that was very short on details (it had none).

The big moves now afoot are to pass Trump's agenda as fast as possible -- there are some ways it can be done, it seems that the GOP in Congress is keen to privatize Social Security and replace Medicare with vouchers (that would increase in value at the rate of inflation while medical costs are rising at three or four times the rate of inflation.

If they also abolish the EPA, the Education Department the government could be left with basically running the military and have, overall, very few roles.

I am almost certain that Americans are not too keen on seeing Social Security privatized -- after all, it would put the money in the hands of Wall Street, that has not covered itself in glory.  They like Medicare and don't want the project terminated.  Yet the agenda of the 1% is back in business with the abolition of most of the US Federal government.

Now there is a big difference between Congress' plans and the White Houses plans -- we know that Trump has some unfinished business with many GOP senators and congressmen/women and that Trump likes his revenge!  If Trump forces the GOP to produce a new ACA law to replace the current program...it is possible that this would be a good thing.  I am far from certain that Trump has the intellect to do the work, but time will tell.

In the meantime, the Democrats got exactly what they deserves, for while Trump was hated by a large segment of the population she was despised by many democrats who decided that they had better things to do than for vote for Clinton.  The next four years should be educational for Democrats and for America's population as a whole.


Comments

Popular posts from this blog

The end of Tesla?

 it takes a special kind of idiot, to think that he can antagonize his entire customer base, and think that it will not impact his business. When Elon Musk went to work for Donald Trump, and created the doge department, he antagonized every liberal, and these people represent 90% of his client base.That’s not a brilliant move. Now Elon Musk is worth hundreds of billions of dollar, so he shouldn’t care a great deal, however, he needs to care because of several other issues. The cyber truck has been a disaster, most have had to be recalled because of defective glue, it’s not a truck, it’s not a car, it’s noisy, relatively uncomfortable, but great as a development platform. What Tesla has learned in making car manufacturing more seamless is truly amazing. The problem was that Elon Musk was so pissed with the Democrats, and with Joe Biden, in particular because of some slight, which were just plain stupid too. By the way, that he decided to support with hundreds of millions of dollar, ...

Donald Trump‘s bad bargain

 The entire of 2023 and 2024 when Donald Trump was running for the White House, his mantra was no war, that the Ukraine conflict would be resolved in a day, and that he would do everything not to involve America and war. How the world has changed! He finds himself facing three conflicts; Ukraine, still going on almost 5 months after he became president. Gaza, an unspeakable crime against humanity, is obviously going to go all the way to its bitter end. And finally, Israel’s attack against Iran. It’s important to note, that Benjamin Netanyahu first indicated at the United nation that the Iranian were 3 to 5 years away from having the nuclear bomb. He made that statement in 1995. Therefore, no one is surprised that he uses the same two lines every so often. It’s entirely possible, that 30 years after he first announced it, that Iran has finally developed the bomb. It’s also remarkable that Iran, local power has been destroyed, from Yemen, to Syria, via Lebanon and Gaza to small exten...

TACO again, but worst!

 Donald Trump got the rare earth metals that he had thrown away on April 2, liberation day as he called it. What did the Chinese get in exchange? The whole deal, is on the wrap right now. But let’s be clear. It’s the Chinese that have the upper hand.Some of the materials made by the Chinese, are simply unavailable anywhere else. suspicions are that the Chinese got the high-end chips that they lost under Biden. Tariffs will probably return to the level of April 1, and in the end Donald and his friends got nothing for it. It gets worse, Chinese exports to United States are down 40%. The Chinese have found new markets, I probably never gonna buy American grain again. Once again, Donald Trump proved he’s a great negotiator. He got absolutely nothing for his Showmanship. He told the world, that everyone would come and kiss his ass, instead they’re laughing At him. There’s no joke about Donald Trump, a 25 and inherited a huge fortune and proceeded to make it a small one. Bottom line, the...