As
a recovering financial guy it is interesting to me to observe what is
happening behind the Wall Street markets.
Even though Donald Trump’s
executive orders and policies have produced record profits for the
industry there is growing consternation over the increasing chaos in
the White House and continuing lack of leadership at the top with
regard to the soaring pandemic.
As a consequence -
the
nation’s biggest investment
banks
are giving a
significant fundraising advantage to the Biden-Harris
campaign. Every
one of the banks - including
JP
Morgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs
and Morgan Stanley.
Seems
they have very little concern over any immediate rollback of
deregulation recognizing that a Biden-Harris White House would initially be
consumed with managing the pandemic response and dealing with a massive recession caused by
Trump’s mismanagement and lack of leadership.
Like I've said all-along; simple economics.
I don’t tell these
people what to do.
Just an observation........
Posts
I think they are just backing who they see as the winning horse. Low rates and massive liquidity injections are here to stay, regardless of who wins. There is nothing keeping this market up but continued, reckless FED meddling. Printing USD to buy corporate bonds from Apple? The equities market has no price discovery, and is completely supported by massive inflows from the FED and terrified pension fund managers that are desperately searching for yield. {BREATHS INTO PAPER BAG}
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