Wall Street did not like the fact that there was not another round of spending agreed to over the weekend or during the day’s trading session – equities sold off. This is the same song and dance we have witnessed several times before throughout 2018-2019 with the US-China trade talks, and the last several months with talks of more spending. Of course, we don’t have the money – but we guess, who cares?! Nonetheless, these stories are thrown out there to juice and pump stocks higher even though there isn’t really anything agreed to. But as we noted last week, as was the case in previous situations, there will come a day when the markets say enough talk – put up or shut up. Well that appears to have been the case today as noted by the selloff across the major indexes. Now, in overnight futures trading, we have the major indexes trading higher again on hopes that Speaker of the House, Nancy Pelosi, along with the White House, and Republicans will continue talks tomorrow, and believe something can be agreed to prior to election day. These headlines are an insult, pure propaganda, and market manipulation, but we digress. And of course, it’s the country and the American people who suffer the consequences and are caught in the crossfire.
On the election front, some 31.3 million votes have already been cast, representing about 22.5 percent of the 2016 total vote turnout. This is quite astonishing and we may very well witness more than half the 2016 turnout occur before election day. This will likely lead to knowing on election night or the day after, who has won the Presidency – as opposed to having all or the majority of votes on election day. A potential con of all this early voting is voters may miss an, “October Surprise,” but we doubt this would have any major effect – most people know who they want to vote for and not much will sway that in either direction.
The President is campaigning heavily and has even been going to some strong red-states, such as Arizona and Georgia, thus signaling that the Trump campaign is concerned with the polling results coming out of these traditional red-states, which Trump won in 2016. President Obama will also be on the campaign trail this week for his former Vice President, as he makes stops in Pennsylvania. The race is still very much up for grabs, but if Biden is able to win Wisconsin, Michigan, and Pennsylvania, which he’s up in the polls for all three, then Joe Biden is likely the next President. This would even assume Trump wins the south as in 2016, Iowa, Nevada (which he lost in 2016), Texas, Arizona, and Ohio. So this paints a very big uphill battle for the President to gain those 270 electoral votes that are needed to cross the finish line. It can happen, but the path is slim. The last debate between the Presidential candidates is also taking place this Thursday. Stay diversified, stay vigilant, and stay with The Kapital News. #Economy #Elections2020 #Debates2020 #Inflation #Debt #Gold #Silver #Bailouts #Liberty #Revolution