What a weekend. It’s a lot to process. Fundamentally, we all need to take heart in the realization that America is, and will continue to be, a GREAT country.
As I told you in last week’s podcast, extremists on the right and on the left are putting everyone in jeopardy. I do believe the conservative movement has been harmed in massive ways that will have a long-lasting and devastating impact.
I may not have all the answers on the political front but, I do know a fair amount about our markets and our economy and I can tell you this: America is a strong country, with a strong constitution and fundamentally good people.
Our equity markets are pretty darn good indicators of the future. And, right now, our stock market knows that America, in the long run, will be okay.
Think about it: we are in the middle of unprecedented, horrific times, having just witnessed a lawless attack on our nation’s capitol. Congress is heading towards impeachment, the House Speaker Nancy Pelosi says we need to strip the President of nuclear codes, there’s talk of the 25th amendment, and the Washington mayor is worried about how to secure her city ahead of election. These are things that should worry any normal person or investor.
And yet, amid the chaos, Wall Street moved higher last week. Because, despite the horrors of recent days, the world is still betting on America.
Let’s not forget it.
We are a nation of individuals that comes together in times of crisis. China may be proven responsible for the spread of coronavirus, but it is America that is curing the world. Not with one, but TWO vaccines already in the market.
They can try to tear us down but ultimately, we are…and we always will be…the UNITED States of America.