May

17

 What a mess.

Will Ralph's bicycle helmets be enough to protect our brokerage accounts or do we need more?

Please post any historical studies on how markets normally react to presidential impeachments through the various phases.

anonymous writes: 

At worst, if it goes forward, it will be like the impeachment of WJC, and ultimately go nowhere.
But more likely is that impeachment talk fizzles out after a few weeks like everything else the WaPo wrings its collective hands over.
 
It’s difficult to assess post hoc the effect of the WJC impeachment on the markets, since Russian debt default and LTCM failure were concurrent.
I remember that at the time, traders and CNBC talking heads were imputing the daily news of stained dresses and perfumed cigars as the reason for the sharp selloff.
The news of LTCM breakdown came late in the selloff, but now journalists and media figures talk about 1998 as if LTCM was on everyone’s lips from the beginning.
 
So maybe something else is afoot behind the scenes.  I regard this inordinate market reaction as a warning sign, similar to Feb. 27, 2007.


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