Monday, November 21, 2016

Full And Utter Repudiation Of ObamaNomics -- November 21, 2016


November 22, 2016: futures -- Dow 30 up another 50 points. WTI futures up 64 cents, now at $48.88. 

Original Post

Complete Repudiation Of The Obama Administration

Futures don't mean squat, but right now -- 9:19 p.m. Central Time, November 21, 2016, Dow 30 futures are up 65 70 points. The Dow 30 closed at another right today: 18,957. If the market were to open up 70 points higher in the morning, it would put the Dow 30 solidly over 19,000. 

There is probably not much else at this point in time that would be a greater indication of the market's full and utter repudiation of ObamaNomics.

The Political Page -- Or Is It The "Realpolitik" Page

Anyone paying attention is aware of the tension building in northeastern Europe, between NATO and Russia, over the future of Lithuania, Estonia, and Latvia.

Anyone paying attention knows what Trump said during the campaign regarding NATO.

I heard this snippet on NPR this evening, while driving our oldest granddaughter to water polo, something to this effect. A spokesman representing Lithuania was concerned "about any backroom deal between Putin and Trump that could be harmful to the three former USSR satellites."

Of course, that comes off immediately as utter craziness -- a "backroom deal" between Putin and Trump.

For a "backroom deal," the folks involved need to have a shared interest in something.

There is something at the very top of the list of issues facing Trump and something at the very top of the list of issues facing Putin.

For Putin, it's not his #1 problem but it's probably among his top ten. At one time it was probably among Russia's top two or three issues..

For the US, it may not be our #1 problem but it is probably the #1 issue that Americans deem the country's #1 security threat.

I'm not going to say anything more; I don't want to get out in front of my headlights, as they say, but that Lithuanian concern about a "backroom deal" is not as "crazy" as it first seemed.

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