Good morning California, Oregon, Washington—all our viewers in the West.
You are waking up to the mother of all political firestorms. And you’re also waking up to a market that just plows ahead.
That chaotic press conference had immediate repercussions.
More businesses came out against the Trump presidency. Eight CEOs plus big labor have dropped off advisory councils.
Politicians: Rep. Nancy Pelosi, D-Calif., Sen. Charles Schumer, D-N.Y., Sen. Bernie Sanders, I-Vt., House Majority Leader Paul Ryan, R-Wis., [and] Sen. Orrin Hatch, R-Utah, lined up to condemn or oppose the president.
And the media has indulged in yet another outpouring of contempt.
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In short, the president is isolated at a time when he needs support to pass his growth agenda.
And yet, one more time, despite it all, the market stays strong. Politics and money seem to be divorced.
You have to conclude that the economy is strong enough to support a Dow Jones Industrial Average at 22,000, even if we don’t get a tax cut this year. Think what might happen to your 401(k) if we did get 4% growth. Think what would happen to the Republican Party if it kept its promises.
Meanwhile investors, enjoy the ride. Politics hits a new low, the president is reviled and your money is doing just fine!
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