Today, over at Yahoo!Finance:
Remember When Reagan Was Elected -- Two Days Later?
It is nothing short of incredible what's happening. Canadian PM Trudeau says he wants to meet with President Trump to discuss NAFTA. Wow, wow, wow. The irony here is that Trump may see more potential working with Mexico than working with Canada. Don't take that out of context, but imagine an episode of "The Apprentice" with the two final "contestants" sitting across the table from him: Mexico and Canada. Mexico's president was one of the first to tweet congratulations to President-elect Trump.
Finally, folks are paying attention. Time to level the playing field. And the big, big, big difference: the US has the cheapest energy in the world and won't have a president who feels he needs to "bow" to other national leaders or "apologize" for our history.
A lot of commentators are still talking about the past -- pardons, prison, what could have been, why did it turn out the way it did -- but others are moving forward, quickly.
My hunch is that the entrepreneurial spirit and American "know-how" is going to "make America great again" and the competition will be such that those who want to play and compete will do well. Those who do not want to play and who do not want to compete will fall farther behind. It will happen at the local level, at the state level, and at the international level.
Trump will set the tone. I think even more so than Reagan, who was more ideological than Trump. Trump has one ideology: "make America great again." He will not cede the Arctic to seven other countries just to be "politically correct." If Paul Ryan is unable to move Trump's agenda, Trump will find willing partners in Pelosi and Schumer. Trump strikes me as the guy who is not looking for excuses why something can't be done; he is looking for guys and gals who want to find a way to make America great again.
When Donald Trump took Hillary's phone call at 3:00 a.m. to concede, market futures were down 700 points. James Cargill said it was going to continue, implying that the market was going to keep going down.
That morning, the market opened up and finished the day setting a new all-time record high. That was yesterday.
Today, I expected a bit of profit taking. The market is now up more than 225 points -- and that's after the phenomenal gain yesterday, setting an all-time high yesterday. Up another 225 points now.
President Obama and President-elect Trump must have had a very constructive meeting. Trump probably used the session as a warm-up or practice for his meeting with Putin next spring.