Stock Market Bulls Freak Out Today as Trump Destroys the Clinton Machine In Voter Landslide - Mike Swanson (11/09/2016)
As I said yesterday today is just one day despite panic you can find on TV and in the press today.
And as I said yesterday elections are decided by swing voters who vote solely on who they decide the strongest leader is and not on issues per say or any well defined ideology or belief system.
Exit polls showed that this was once again the case.
In the afternoon I saw a news story that said the following:
Voters heading to the polls Tuesday are twice as likely to say they want a president who is a “strong leader” than in 2012, according to Morning Consult/POLITICO exit data.
More than one-third (36 percent) of 2016 voters said being a strong leader was the most important quality when picking a president, compared with 18 percent of voters who said the same during 2012 election. It’s an opinion held regardless of partisan leanings: 35 percent of Democrats, 34 percent of independents and 39 percent of Republicans said that was most important.
So when all was said and done the voters decided that Trump was a stronger leader than Clinton.
Of course today the stock market is poised for a smash gap down.
The reason this is happening is because Wall Street types and the national media convinced themselves and their viewers that Clinton would be good for stocks and Trump bad.
They all predicted a Clinton win and many stock traders bet on that prediction.
The website TheGatewayPundit posted a video compilation of these failed election predictions you can see here.
On CNBC there was almost a manic celebration yesterday of a coming Clinton win and predictions that it would bring a massive end of the year rally for the stock market.
Michael Santoli, their head "Markets Commentator" for example went wild with glee into the closing bell.
The fact that the election was a total landslide proves that the news pundits had no idea what they were talking about and have no pulse on the rest of the country.
They have proven themselves to be as clueless as the CNBC bubble bulls are today.
Those bubble bulls encouraged people to buy into a Clinton win and the fact that she lost is now causing those that bought on their predictions to sell in panic.
They should not panic, but they are because they believed what TV told them and now that TV has proven to be wrong they are frightened.
The establishment is in panic.
I went to bed at 10:30 last night and got up at 4:30 to prepare for today.
I turned on MSNBC after I woke and the first thing I heard was someone say that the election was "influenced by Putin."
Then I heard them talk about the falling markets and try to put a guilt trip on voters implying look at what you get now dummies.
I then flipped to the New York Times website and saw this:
If you can't see this their lead stories have descriptions like "America on a precipice," "absorbing the impossible," and so on.
Their lead economist Paul Krugman - who was a big proponent of Obama Care and supporter of the bank bailouts in 2008 - says "if the question is when markets will recover, a first-pass answer is never."
Now that is just reckless and irresponsible talk.
And Thomas Friedman - who was a big propagandist for the Iraq War and nation building disasters in Iraq, Libya, and now Syria - now says that he is "in anguish and frightened" in a column titled Homeless in America.
He has no care that the policies he has pushed have killed hundreds of thousands of people overseas, maimed and killed American service members, and helped drain our country's wealth away.
He has no understanding that they have failed and that is why Trump has won.
All he can do now is lash out at the voters and be "frightened" by them.
This is the establishment and it is off the rails.
Yesterday the Huffington Post published a story saying that Trump was Adolph Hitler.
People read these things and some people believe it and are so scared they are selling.
In reality these political fears are at an extreme and will subside soon.
Maybe not today, but they will soon.
With Trump he is not Hitler.
We actually have a precedent in the past 20 years of a few independent people who have become politicians in shocking victories we can take some cues from.
For example Jesse Venture became governor of MN.
And Arnold Schwarzenegger became governor of CA.
Interestingly enough, like Trump, Arnold had sex scandals hit during his election campaign as a line of women accused him of sexually harassing him, but he won anyway due to his celebrity and actually became a wildly popular Governor.
Both Venture and Arnold were hated by the media in their states and even demonized.
Both though were able to make deals and compromise with BOTH PARTIES thanks to the power of their popularity and the people.
Both accomplished things and were considered successes at first.
But eventually the party leaders turned on them and ruined them by the end of their administrations.
If anything this could be what happens with Trump.
We cannot predict the future, but I do think that it is reasonable to say that Trump is not some Hitler figure, but is most likely to do deals like he says he do.
He won't get all of his promises done for sure, but he will get some things done.
And he is not going to end the country.
The panic in the media and establishment is not really about Trump - but it is about a fear that the people no longer believe in them.
Hillary Clinton as an individual has been politically destroyed today, but has the machine that has created her and funded her been set back?
Look at this electoral map.
What is the future of the Democratic Party now?
When I was born the base of the base of Democratic party was an alliance of union workers and blacks.
Overtime the union membership rolls faded as jobs went overseas and Bill Clinton turned his back on them and created an alliance with Wall Street banks.
Free trades deals, the elimination of Glass-Steagal, and the stock market boom that turned into the internet bubble that went bust were the result.
Instead of rising wages consumer consumption rose with credit card debt and then a housing bubble to finance more consumer debt.
Goldman Sachs figures became key cogs of the Democratic Party and its funding machine and Wall Street banks profit by lending people money.
People moan and groan about rising the rising costs of College, but the bank lenders are making fortunes from it all!
When Obama became President after the 2008 crash he was unable to reform anything as a result.
Instead he carried over Goldman Sachs figures that were in the Bush administration into his and at times had Goldman people serve as his Chief of Staff.
His life was not a part of this machine, but he needed it to win too as it was so powerful in the DNC when he ran as President.
In this election over 50% of Hillary's campaign money came from Wall Street banks and hedge funds, with Goldman Sachs people key cogs in the Clinton machine again.
Union funds were a simple drop in a giant bucket.
But when the DNC becomes a creature of Wall Street what issues can it use to create win voters?
Her campaign consisted of attacking Trump on cultural issues - saying he was racist and against women and trying to scare and shame people into voting - to win voters.
And she tried to scare people into thinking that Putin is going to eat them with crazy conspiracy theories without proof.
This fear campaign failed as more white women it turned out voted for Trump than for her!
These cultural issues only hold power with enough people in California, Washington DC, and the northeast area of DC and New York to win there and simply do not work in the rest of the country.
They just don't.
They do appeal to the mainstream media types though that almost all live in these areas and like to look down on with smugness on everyone else.
In order to win the next election the DNC is going to have to change and run on issues that have a real meaning to people in the entire country.
Instead of campaigning on symbolic cultural issues they will have to run on issues that will really help people.
As long as it remains captive to Wall Street it will continue now to fail and fail again.
Clinton is gone, but this Wall Street machine will have to be destroyed if the Democrats are going to ever win nationally again.
Is this possible?
The best thing for the Democratic Party right now would be for Bernie Sanders and Elizabeth Warren to turn on the Clinton machine and join the rest of the country into beating it to the ground.
They - or people close to them with more energy - must take their party over.
Are they genuine leaders or simply shills?
We will now find out.
If they sit there and let the Wall Street machine continue to operate then the Democratic Party will continue to be the regional party that it has turned itself into.
Are Sanders and Warren really independent people who can truly speak and talk for themselves?
That is the question for the Democrats.
And we will see how Trump unfolds too.
As for you and me we have no reason to fear.
When you can get the resources and ability to think for yourself you can adapt to changes in the financial markets.
And you can think clearly and not be in panic and fear and try to figure out what is going on with a clear mind.
The TV is trying to scare people today.
You have nothing to be scared about.
The movements in the markets this week are not creating brand new trends.
They are just short-term blips in long-term trends, which slowly develop over time when they do change.
It is these trends we must remain focused on in order to manage our money as wisely as possible.
And it is these trends that we watch and monitor to make our decisions on instead of making bets based on useless predictions.
If this is the first time you have come to this website then you should join my update list for action alerts. To do that click here.
Most Recent Posts
- A Decade After the Great Recession, Risk of Economic Collapse Higher Than Ever - Marc Faber (07/26/2017)
- In the Footsteps of Rome: Is Renewal Possible? - Charles Hugh Smith (07/26/2017)
- A Look at the origins of the John Birch Society in the 1950’s and Today’s “Alt-Right” – Mike Swanson (07/26/2017)
- What's The Next Contrarian Play? - Jim Rogers (07/25/2017)
- Jim Cramer Calls a Bottom in Oil - CNBC (07/25/2017)
- When We Can No Longer Tell the Truth... - Charles Hugh Smith (07/25/2017)
- Vijay Prashad: Trump is Setting Up a 'Dangerous Confrontation' With Iran - The Real News (07/25/2017)
- Salient Features of Bull Market Peaks - John Hussman (07/24/2017)
- Syria Gas Attack and Russian Election Hacking...Debunking Fake News With Scott Ritter - Ron Paul Institute (07/24/2017)
- Overbought in an uptrend, but will it matter? - Mike Saul (07/24/2017)
Grab This Free Report: Our Top Mining Stock Pick
This free special WSW report is devoted to IDM Mining and why it is currently our top mining stock pick.
Grab it and get our next gold price entry point. Do not think about buying any other gold stocks before you read this report. To get this report click here