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November 19, 2019
Impeachment hearings – good for business?
The current round of impeachment hearings do not seem to be going the way the Democrats might have hoped. No smoking guns have been found, while key anti-Trump witnesses, including the recently-replaced Ambassador to the Ukraine, admitting under oath that no crimes had been committed. Just as was the case during the ill-starred Clinton impeachment hearings two decades ago, instead of damaging the President, the hearings seem to be damaging his accusers. At this point, the tracking polls are, at best, inconclusive. However, there is one daily tracking poll that is virtually infallible. That’s the Dow Jones Industrial Average. The frequently skittish Dow is notorious for rising and falling based on the perceived successes (or failures) of the president. It was therefore no mystery to stock market analysts why the Dow tanked just six weeks or so before the 2008 election, a vote that saw the widely unpopular George W. Bush finally voted out of office in favor of...(Read Full Post)