** 13-Feb-2021 World View: Effect of impeachment trial on the stock market
richard5za wrote: Sat Feb 13, 2021 6:09 am
> My understanding of Trump's defense Friday is that logical
> argument for "incitement to riot" is not proven. Could this be the
> reason for the market jumping up? If yes, is this because violence
> is now less likely?
This paragraph is bizarre on multiple levels. First off, I don't even
know what violence you're talking about. Second, there's no threat of
violence that would affect the stock market. Third, Trump's lawyers
clearly defeated the accusations in more ways than one, including no
proof of "incitement to riot," and on several constitutional grounds.
No minds were changed, which means that Trump is on track to be
acquitted.
The Democrats have been hyping violence as much as possible, and the
media have been pouring it on in lockstep. I assume you get your
information from the BBC, which depends on a great deal of money it
gets from PBS, which is controlled by the Democrats. The BBC white
house reporter Gary O'Donaghue hates Trump so much that you can almost
see the vitriol and hatred oozing out of his pores when he's talking.
But he's starting to smile sweetly now that he's talking about Biden.
So when you listen to the BBC, keep in mind that you're listening to
Democratic Party talking points.
I suspect that the connection you're making between "violence" and the
stock market is an allusion to something that happened in South
Africa. Perhaps you could comment on that.
It's true that the news about the impeachment trial caused the market
to go up on late Friday, but that had nothing to do with violence,
despite what you hear on the BBC.
The market went up because the defense lawyers thoroughly eviscerated
the case against Trump, which meant that no minds were changed, which
meant that the trial would end quickly with an acquittal, which meant
that the Senate would be able to move quickly on the "Covid relief
bill," which would pour $1.9 trillion into the stock market bubble,
which would boost stocks. So the market went up in anticipation of
all that printed money.
However, things have changed in the last two hours, since everyone has
been caught by surprise that the Senate has voted to continue the
trial and call witnesses. No one was expecting this, and it throws
everything into chaos. This whole impeachment is a left-wing circus,
and apparently the reason that the impeachment lawyers from the house
suddenly decided to call witnesses at the last minute is because their
radical left-wing allies were screaming at them on Twitter to do so,
rather than acquit Trump.
The Republicans didn't want witnesses, so that the trial would end
quickly. But they're now going along with this because they can call
their own witnesses, particularly Pelosi, who apparently knew in
advance about the planned attack but did nothing about it, even
rejecting Trump's offer of National Guard troops because she didn't
like "the optics."
So as I'm typing this, analysts are using the phrase "buyer's remorse"
to describe what many Senators are feeling for this vote to call
witnesses, because if they do, then the trial will probably last a few
more weeks, and nobody knows how it will end.
Now getting back to your original question about the stock market, I
would expect the market to fall on Monday if the trial is extended,
because that would delay the "Covid relief bill."
