Peak Manchin And The Return Of The Micro
It's been all about the macro for quite some time now.
Those who enjoy the tedious task of conducting single-stock analysis or otherwise revel in minutiae with little or no discernible connection to the broader economic environment (let alone the geopolitical landscape) got an unwanted crash course in big-picture thinking in 2020.
There's nothing like an actual (if fleeting) depression (with a "d") to broaden your analytical horizons. Throw in a crisis for American democracy and spice the whol
It is comforting if we are at this phase of recovery already. Sideways will do the markets some good. Volatility should be less erratic and the gamers will become bored. Thanks.
I guess ultimately it depends on what a “Joe Manchin” is. If he is really a GOP member in a blue shirt and willing to run on the red team next time around… then he will probably stand in the way of literally every agenda item because he doesn’t intend to be a linchpin. I’m not sure I can read the guy beyond his obvious nature as the giant tool. I would ultimately not be shocked to be sitting around Fall 2022 lamenting the fact that the last piece of meaningful legislation passed was the current Covid bill.