Originally Posted by
Dan Druff
If the market tanked today, you would have written that it's indicative that everyone smart in business knows that Trump will be a disaster for the country.
Looks like you massage the existing data to fit your narrative, no matter what.
Even if you dislike Trump, you can't automatically cast him as a friend of big pharma, big oil, etc. We will have to see his actual policy plans before drawing any of these type of conclusions. His election rhetoric did not necessarily favor these industries.
Markets are up because the GOP won today across the board in terms of Senate seats and local elections, nvm the POTUS race.
Wall St knows that the corporate tax breaks they would get under Clinton will be even bigger under Trump. Also, thanks to the overall uncertainty that a Trump presidency brings to the overall running of the system (since he hasn't been in office before), moar QE is likely from the Fed, which means for free money for big banks, investors, and corporate stock buyback plans.
I work at a pharma in MA. The CEO, who is a #nevertrump Republican, sent the company an email today on how Trump's campaign was unprecedented in terms of the things he's said and done, and his shaky character as a person. But, in the end of the email, this CEO went onto say, "today had some great results; with new Republican leadership across the country, we will go back to what made our industry great: corporate repatriation for our off-shore tax havens, the stop of the draconian attacks on drug prices by government, and the restoration of a pro-business agenda that will make our company grow!"
This is all LOL because after hearing for month from this guy in town halls and speeches from this CEO on how Trump was bad for America, literally shitting on him every chance he got.......the guy goes on and praises him and his party and blasts the Democrats (who are the most pro-business in their history; which is why they fucking got their asses kicked) declaring the result a win for big pharma. I mean, Obama won in 2012, we got a major selloff....and now we are back to all time highs.
Big oil wins too, because now they can frack the shit out of any land without any interference from the Great Orange Leader. Granted, that fracking might cause a earthquake that splits the continent in two.....but at least markets will still be up.
In the end, rich (white) people always win. In the Capitalism Premier League, they are undefeated. Civil rights don't matter to investors. Workers rights don't matter to investors; they'd actually prefer they would have none at all. All they care about is if the future policies will benefit their balances sheets. And they have concluded that despite Trump's love of grabbing pussy, he will be great for their balance sheets.
Additionally, and of course this is the conspiratorial part of the rant: algos make up 75%+ of the trading today. I am sure the big banks and the Central Banks made sure to coordinate that no matter what happened yesterday, that markets would NOT be allowed to crash if they could help it.
The 1% is fine. It's the rest of us, I worry about.