By Vern Gowdie – The Daily Reckoning (Australia) –
The US market is cautiously positive.
The Aussie dollar is stronger.
The gold price is weaker.
The markets obviously think the odds favour Clinton to win the US presidential election.
At the time of writing, the election result is still pending.
The bounce on Wall Street shows the money-men like the idea of Hillary as Commander-in-Chief…and so they should, after what they’ve donated to her campaign.
Hillary has promised to be a president for everyone…that is, everyone who contributes to ‘The Bill, Hillary & Chelsea Clinton Foundation’.
According to the Foundation’s website, it is a ‘non-profit 501(c)(3) tax-exempt organization.’
The easiest way to make an organisation non-profit is to pay out all earnings — seven-figure director fees, first class travel, Fifth Avenue offices…oh how you can spend your way to a luxurious non-profit outcome! And whatever is left over after your personal indulgences have been satisfied, you can spend on a few pet projects.
The Clintons are seen as money grubbers who’d sell their own family members for the right price. Hillary is a despised person.
Donald is no better. The only difference between him and Hillary is that he is openly corrupt. Whereas Hillary hides her corruption behind a cloak of establishment respectability.
If I had to choose between the despised and the despicable, I’d go for Trump.
For one reason and one reason only.
He promised to get rid of Federal Reserve Chief Janet Yellen.
According to CNBC:
‘Trump, at the first presidential debate, said Fed Chair Janet Yellen has kept rates low for political reasons and that the Fed is creating a problem for the stock market that will show up when it starts raising interest rates.’
Trump is stating what we all know. But no one in the establishment — not Clinton nor Obama — are calling it as it is. And why should they? Their retirement capital is not at stake.
Again from CNBC:
‘“If Donald Trump wins November’s presidential election, there is now a clear possibility that Fed Chair Janet Yellen would resign almost immediately, perhaps even before the mid-December (Federal Open Market Committee) meeting,” Paul Ashworth, chief U.S. economist at Capital Economics, said in a note. “It is hard to see how she could continue in her position until her current term expires in early 2018.”’
If I was eligible, Yellen’s resignation would be reason enough for me to vote for Trump. It is the thinnest of pieces of rope to hang on to, but Clinton only throws out the prospect of more red tape, more government intrusion into peoples’ lives, more unfunded socialist programs, and more of the same ‘go along to get along and sling me a few dollars on the way’ culture that gives the political class such a putrid stench.
Trump stench is out there for all to smell — an egotistical, unethical, womanising, bigoted bully. Personally, I like to see what’s coming. That way, the surprises are hopefully kept to a minimum. You know he is going to be an absolute embarrassment as president.
Hillary’s ‘I’m here for the people’ routine is galling. Clinton’s con is not quite on the scale that Yellen and Co. are pulling on the investing public, but it is up there. Unfortunately, people actually think/hope/believe Clinton (like they did with Obama) has the ability to make their life better. What a massive let down that’s going to be.
The reality is neither Clinton nor Trump will make ‘America Great Again’.