Here we sit, barely two weeks into the new year, and guess what? Risk assets have already blown through some analysts’ full-year projections, with both equities and HY (for instance) rallying further than some of the less sanguine (yet still optimistic) year-end 2018 targets.
You wouldn’t know it from looking at any market-based measures of volatility, but 2017 was a hugely consequential year. I assume that goes without saying.
“White American males have always been in charge. They made the rules and they called the shots in the workplace, in the home and at the ballot box. They’ve owned the world for so long and have been getting increasingly uncomfortable as their grip on power had been eroding. Now the unthinkable is happening: They are becoming the minority.”
“Populism is like pornography: Everything is explicit, but the plot cannot be taken seriously.”
Well in the latest evidence to suggest that the public is turning against the GOP, a new NBC/WSJ poll shows that…
This is a truly devastating setback not only for Donald Trump, but for Steve Bannon, who effectively bet the house on Moore.
“For any ideology the gradient between the present and the future has always had to be positive.”
“When trust vanishes and knowledge is devalued as an establishment defense of the status quo, anything can happen.”
“I’ve seen this before with Trump. As Hillary Clinton would say, this is nothing less than the politics of personal destruction.”
“This is a guy who is more interested in seeing his name in the headlines than he is in any kind of accomplishment for the president.”
“If you have the wisdom, the strength, the tenacity, to hold [the coalition that elected Trump] together, we will govern for 50 to 75 years.”
Why target a relatively tame piece that, for the most part, just states facts?
” I hate to break it Graydon Carter and the good folks at Vanity Fair, but yes, President Trump is not only going to finish this term, he’s going to win with 400 electoral votes in 2020.”
“Everything is explicit, but the plot cannot be taken seriously.”
“To some extent the market’s resilience is justified; in other cases, however, it looks like a case of when rather than if potential shocks get priced in.”