According to Politico, “Donald Trump’s election helped turbocharge an already surging bull market in the U.S., sending stocks and cryptocurrencies to record highs. Now, some on Wall Street are beginning to sound the alarm that the fast times can’t last. … ‘For good or bad, depending on your politics, we’re back to the chaos presidency,’ said Jim Chanos, a hedge fund manager who famously bet against Enron and other failing companies. ‘Whatever you might think about the Biden administration, if you were a market participant, you generally didn’t need to check your Twitter feed the first thing in the morning when you woke up just to see what was said. But we’re back to that, and with that, comes probably more volatility.’ … But the bullishness is running into economic headwinds — adding to the volatility in the markets. (The S&P 500 followed its record highs last week with a two-day slide.) Inflation jumped more than expected in January, effectively guaranteeing that the Fed is unlikely to cut interest rates any time soon — much to the dismay of stock and crypto traders. And a lack of clarity about Trump’s plans is bound to weigh on the economy, J.P. Morgan Asset Management Chief Global Strategist David Kelly warned.”
The key “insight” here is “we’re back to the chaos presidency.” No sh*t Sherlock! Wow! No one saw this coming! Who could have guessed? Dictator Don is turning the stability of the markets and the federal government on its head, and people are just now starting to rethink his presidency? I’m sorry, but what part of a return of The Don! to the White House was supposed to instill confidence and reassurance of steadiness and placidity in the markets? Once again, we are to the point of these market “gurus” being a day late and a dollar short. All of this was foreseeable, yet the market reeved up to all-time highs following the election — inexplicably. I guess morons are finally starting to catch on. I wondered when the markets would begin to price in the inevitable Dictator Don chaos. And these market makers and movers — who no doubt voted for The Don! — are supposed to be the experts? To some extent, volatility is desirable for these market manipulators. You can make just as much money betting on a declining market as a rising market. In fact, the more ups and downs, the more profit opportunities there are. But then again, no one wants to catch a falling knife, I guess, except for Dictator Don voters. But whatever! Comeuppance is a b*tch, and we’re just at the nascent stages of finding out. Welcome to stupid America! Always dumber and soon-to-be poorer because this is what people — knowingly and proudly — voted for!