When last we checked in on SocGen's interminable bear, the (still) lovable Albert Edwards, we found him defending the Trump administration's apparent zeal for "doing what they said they would do."
"Donald Trump is arousing as much passion in office as he did on the campaign trail," Edwards wrote. "Agree with him or not, unlike most politicians he seems determined to actually enact the things he promised the electorate."
Of course that's complete bullsh*t as Matt Drudge (of all people) noted on Wednesday.
"The Republican party should be sued for fraud," Drudge tweeted. "NO discussion of tax cuts now. Just lots of crazy."
Yes, "lots of crazy." Lots. And lots. Of crazy.
Edwards seems to have fallen into the same trap as many other Trump apologists: trying to justify the "crazy" by an appeal to "he's keeping his promises." But he's not keeping his promises. At least not the ones that matter to markets. Tax reform and fiscal stimulus are a long way away. Meanwhile, the "crazy" (immigration bans, trade wars) is moving at warp speed. Why do you think markets are so nervous?
In any event, Edwards is out on Thursday with a new piece (apparently he's trying to "make 'weekly' great aga
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