Why conventional wisdom seem to fail again? The market is at all time high after the election..
Just a week ago, all the pundits were predicting a stock market pull back if Trump was elected. And then Tuesday night of the election when it seem Trump was winning, the pre-market dropped 700 points. Yet, by the opening the next morning, the market actually rallied and reached a new high by the end of the week. Was this a black swan moment?
It was the usual scare tactics of democrats and their lapdog msm media. Theyve done this stuff for decades. They especially loved to try and frighten the elderly from voting by telling them that the republicans are going to take their social security away. They did that for years.
It's all the FED and the algorithms.
No way this will last unless the FED starts actively buying stocks.
They're already buying futures contracts, so it wouldn't be a surprise to see them start buying stocks.
Since they are already buying financial products from the banks (Yup, CMO's and CDO's), it's all a house of cards.
One interesting side note about the FED - if they lose any money on any of their trades, Bernanke's last move as FED chairman was to make sure the taxpayers would be on the hook for any losses at the FED.
We have wonderful people watching out for us, don't we?
Taxpayers bail out everybody that's got payoffs going to our greedy congressmen and presidents.
Just idly sitting back, waiting for the next crash.
I agree the federal reserve have a lot to answer for but the prediction about the market is strictly independent. It is the perception of many on Wall Street and as we know from past experiences, they don't know any better than the rest of us.
Well, I read a lot of people, and most say down within a short period of time. But, opinions are like rear ends, everyone's got one.
They were forecasting great things back in 2007 too!
Best of luck.
The market fell at first because the prospect of Trump being president is bound to put the country and the world in turmoil. It has rallied because stockholders and the millionaires and billionaires will do extremely well in the short term because the Republican controlled Congress will undoubtedly approve huge tax cuts for the wealthy and the elimination of those government agencies designed to protect the public (like the EPA and Dodd-Frank.) Ordinary American workers will pay the bill.
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