Is President Trump going to make America great again? I have strong doubts.
It is clear that the stock market wanted Clinton to win. The Dow futures dropped nearly 5% when it became clear around 11:00 pm that Trump had a high probability of winning.
If what kills our economy are unfair trade deals, currency manipulation and competition from China, then one would think the policies of Trump would be embraced by the stock market. But, this morning’s future trading and overseas markets say otherwise. The world markets are in shock.
World economics is complicated. What looks to be in the US advantage short term, can end up a total disaster later. The markets are concerned about the potential for destabilization of our relations with other countries, and disruptive actions on trade agreements. Some economists predicted Trump would lead us back into recession, through tax cuts for the wealthy and increase government spending, particularly on the military.
I prepare a list of hot issues for 2017, but I’m holding off posting them, given how wrong I was about the elections. We now are in the transition period. Trump takes office January 20, 2017.