Friday, August 18, 2017

Trump Trough?

After nearly a year of incessant media pounding (some merited, to be sure), after his abandonment by prominent business allies, after the firing or resignation of most of his key staff people, Donald J. Trump seems to have reached the nadir of his Presidency. The media megaphone/echo chamber has extrapolated the murder of a woman by a crazed white supremacist into the Holocaust and blamed Republicans by association.

In a sober illustration the Economist cover this week shows the President using a Ku Klux Klan hat as a megaphone. [bold added]
[the] president is politically inept, morally barren and temperamentally unfit for office.
However:

The economy is still perking along, the stock market is at an all-time high, and the U.S. hasn't entered any new wars. In fact the President's "fire and fury" speech, despite the near-universal handwringing, has for the first time in memory caused the North Korean regime to back down without being paid a bribe.

The insider leaks that have damaged the Trump Presidency may decrease or even disappear now that the two reputed leakers-in-chief, Reince Priebus and Steve Bannon, have departed.

Republican governance has rightly taken a hit because it has done nothing in the area of health care, tax reform, or infrastructure spending, but the year isn't over.

Warren Buffett said "Buy when everyone else is selling", in other words sell at the peaks and buy at the troughs.

Were Donald Trump a stock my instincts tell me that now is the time to buy.

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