DaveW -
I have several friends with tons of money (multi-millionaires, not
billionaires) and they are all leaving stocks. Not because of Trump but
because of the massive shift away from actively managed funds to passive
ones and the overvaluation of price as a result. Bloomberg business just
had a major article about this. I suspect that crony's are moving money
the same way my friends are, and for the same reasons.
Are you suggesting that there is no bubble driven by speculation (and
the reality of) on the free-for-all Trump has promised big business,
especially (overtly) extractive/polluting/usurious industries?
Expect the big whoosh and then reasonably rapid recovery.
I do imagine there may be a rapid(ish) recovery if the nonsense in the
government stabilizes. My Pollyanna has me believing that we are on a
cusp and that many industries ARE shifting toward a more sustainable
model and that these (e.g. renewable energy) will thrive in the vacuum
left as some of the older, less sustainable ones (coal and other
fossil-fuels) which are currently enjoying the (promise of?)
deregulation implode.
And don't
expect it to have any effect on Trump, the admin, or his followers.
I think a tumble in the market will undermine the belief that Trump
somehow magically has improved our economy simply by being elected, it
may motivate/allow many who have been enjoying the ride up to quit
supporting him (even as passively as not rejecting/confronting his
nonsense).
Hope springs infernal!
- Steve
============================================================
FRIAM Applied Complexity Group listserv
Meets Fridays 9a-11:30 at cafe at St. John's College
to unsubscribe http://redfish.com/mailman/listinfo/friam_redfish.com
FRIAM-COMIC http://friam-comic.blogspot.com/ by Dr. Strangelove
