Thursday March 23, 2017
As Laura Ingraham observed, there are no moderate Democrats, when they need 60 votes they get them. It has been so long since Republicans passed anything they just do not know how to play the game like the Dems do. On arriving in DC, a new Dem congressman is told to toe the party line or face a well financed opponent in the next election. That's hard ball but it sure keeps all in line for events like repeal and replace the health care bill. See Henninger today, the Russia-Trump deal will never end, the Health Care bill is problematic, and if that fails kiss tax reform good bye, no one owes Trump anything so his influence is limited, car inventories swell, retail stores close, and well, here we are today exactly 17 years from the March 23, 2000 top in the dot.com market which then declined for two years. History repeats?
Karl Rove makes these same points in his column today noting the Democrats have zero ideas on how to fix anything.
We are not becoming a political blog but this is pretty much the same mood that ushered in Nixon's second term. The sell off tow days ago in stocks is likely the turn in mood we have been expecting, okay for a long long time.
Meanwhile the OPEC deal to restrict output is as always leaking oil all over. And so oil prices are falling. We have noted this rarely improves the economy, it is more a sign of deflation and weakness.
This should be an interesting day.
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