Expect the nitwits who drove Dow futures down by nearly 900 points Tuesday night on the mere threat of a Trump victory to quickly recoup their sanity, and to redress the error with a powerful rebound in the days and weeks ahead. Their nutty reaction was of a piece with the savage selling that occurred in global markets after British voters decided to leave the EU.  Trump will no more cause the world to end than did Brexit, and there is therefore no reason for stocks to have sold off as sharply they did. It happened simply because “Trump very bad!” had become the conventional narrative, at least as far as we were told by a brazenly dishonest press. Tonight’s selloff simply exaggerated to the nth degree a reaction that had been programmed into traders of stocks, bonds, gold — and even Mexico pesos — over the last month or so of the campaign.  We can now look forward to being entertained when the hacks and ideologues who invent the news are obliged to explain the impending Trump rally, particularly to those who supported Clinton.  Supposedly, 97% of them are truly scared by the prospect of a Trump presidency. Here’s a prediction:  They may never learn to love him, but they’ll get over their fears quickly enough, just as the elites and Eurocrats who execrated Brexit did.

| Digg This Article
 -- Published: Wednesday, 9 November 2016 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus
Previous Articles by Rick Ackerman