Another Trump "Success"
Successfully caused the stock market to plunge nearly 600 points today.
Another Trump "Success"
Successfully besmirched the good name of the FBI and transformed the most respected
law enforcement agency into a political football.
Actually, the market decline today had little to do with politics. The main reason indices dropped was from the good employment numbers - 200,000 new jobs. And because of it, there is some upward pressure on wages. good for mainstreet (for a little while) and bad for Wall Street. Here's the problem - upward pressure on wages is typically the 1st symptom of pending inflation, and to keep inflation under control, the FED raises interest rates faster than Wall Street has planned for. Higher interest rates makes bonds more attractive, so money flow out of stock and into bonds which causes indices to dive. Ultimately, inflation turns out to be bad for both main street and Wall Street.
So get ready for higher interest rates on your car loans, mortgage loans, credit cards, everything. It's coming to a bank near you. You can thank the full employment economy.
And one more thing - because we are at a full employment economy, all those new job positions will be filled by H1-B visa recipients - foreigners. For those of you who hate foreigners taking our jobs, stand by. It'll be everywhere.