President-elect Donald Trump will last no more than four years in the White House, a period when corporations and the financial market will retain the upper hand over the struggling workers who helped elect him in a populist wave, bond manager Bill Gross of Janus Capital Group Inc said on Wednesday.
The Trumpian Fox has entered the Populist Henhouse, not so much by stealth but as a result of Middle America's misinterpretation of what will make America great again. Not having voted for either establishment party's candidate, I write in amazed, almost amused bewilderment at what American voters have done to themselves.
After hearing the historic and unprecedented November 8 election results, we decided it was time to reach out to our family of experts to ask for their opinion on what this Trump win means for stocks and other markets you trade and follow.
Before the election, there were dire predictions about a Donald Trump presidency may mean for the US stock market, with some prognosticators calling for a -7% (seven sigma!) drop on the first day. Those grim forecasts appeared on point on election night, when U.S. markets were halted limit down (-5%) at one point overnight.
Global stock and commodity prices are flying as the market is expecting that President-elect Donald Trump will undo the over-regulation that has put the economy in shackles these long 8 years. There is growing excitement that the removal of the Dodd-Frank law and the repeal and replacement of Obamacare, and massive infrastructure and defense spending will allow the economy to finally grow.
Even we were a bit shocked that “The Donald” and his team actually pulled it off. Yet, it is a measure of just how much disenfranchised older white workers and even a select subset of younger voters were fed up with the "business as usual" inside-dealing and advantage to the largest and richest, which the Washington DC establishment has supported over the past 16 years.