Markets are a tricky thing. A simple rumor can send investors running for the exits. So, why didn’t the Impeachment vote make a ripple?
Normally, it doesn’t take much to get the risk-averse pressing the panic button. So, why is it that nobody seems to really care when it comes to Democrats throw accusations of scandal at Trump?
The short answer is, they’ve grown numb to it. They’ve cried ‘wolf’ one too many times.
If they really BELIEVED there was instability in the Presidency, they would react, but Democrats are deliberately creating a culture and perception of permanent instability.
When the first started this game, the markets really DID get jumpy.
Remember that bogus story by Brian Ross about ‘candidate’ Trump telling General Flynn to contact the Russians? It got him suspended because ‘candidate’ Trump was actually President-elect Trump, and was working well within the scope of what Transition Teams do.
“We deeply regret and apologize for the serious error we made yesterday. The reporting conveyed by Brian Ross during the special report had not been fully vetted through our editorial standards process,” ABC said in a statement. “As a result of our continued reporting over the next several hours ultimately we determined the information was wrong and we corrected the mistake on air and online.”
“It is vital we get the story right and retain the trust we have built with our audience — these are our core principles,” the statement added. “We fell far short of that yesterday.” — Source: CNN
The Mueller investigation came and went, and the Economy keeps chugging along.
And now? Now Trump is the fourth President in history to be targeted by an impeachment process by the House.
Were the markets ‘shook’? Not exactly.
Interesting how the financial market is unfazed by the #Impeachment shenanigans in the House.
That means people know this is a political stunt.
S&P 500 : 3,061.14 +23.58 (+0.78%)
Dow 30 27,297.53 +251.30 (+0.93%)
Nasdaq 8,367.81 +75.45 (+0.91%)
— 🇺🇸 Pismo 🇺🇸 (@Pismo_B) November 1, 2019
That’s probably because they don’t really believe that anything will change in the next 12 months before 2020.
There was little doubt that Democrats would find SOME excuse to impeach Trump before his term was out. They hate him and have the votes to make it happen.
The Senate, on the other hand, is Republican-controlled and will not play along with their BullSchiff.
So what are the markets looking at?
We have an election coming up in 2020 with a President they took their best shot at to dirty-up with the accusation of impeachment, running against whichever of the Democrats wannabes the consensus agreement tells them is their least-worst candidate.
So, pretty much what they were going to be looking at anyway.
In the meantime… the markets keep chugging along. Until something happens that they actually CARE about.