Impeachment…..Is defined as a charge of misconduct made against the holder of a public office and they do not get any higher in the United States of America than the office of The President. The airwaves and financial talk-shops are abuzz today following the allegation that President “the Donald” Trump asked the former FBI Director […]
When Harold Wilson commenced his first stint as the British Labour Party Prime Minister in 1964, he inherited an unusually large external deficit on the balance of trade from the Conservative administration and despite fighting the markets for a couple of years, the inevitable devaluation of the £GBP came in 1967, when Wilson famously assured […]
“793”…… Global merger and acquisition (M&A) deals have been completed this year as of the end of April 2017, according to “dialogic” who collates the data involving publicly traded corporations. This is 20% lower than the comparable period of 2016 and is the lowest number since 1998, which given that stock and bond markets are […]
French voters face a stark choice in Sunday’s presidential election between joining the wave of populism that has swept across the European and American political landscape over the past year or an attempt to renew the governing principles that have guided their country for decades, albeit via a 39-year-former untested Socialist turned Centrist. With the […]
“3% annualised GDP”…… Is the expectation/hope/dream set out by the new US Treasury Secretary Steve Mnuchin this week, as he and his fellow ex-Goldman Sachs colleague and now White House chief economic advisor Gary Cohn, set out “the biggest tax reform in American history.” Tax cuts, set to slash corporate rates from 35% to […]
“7th May 2020”…… was to be the date of the UK’s next General Election, in line with the fixed-term Parliaments Act 2011. However, the British Prime Minister, Teresa May, called for an 8th June 2017 snap election this week and was backed by the two-thirds majority required from the 650 MPs in the House of […]
Just nine months after British Prime Minister David Cameron resigned, following his failed “gamble” on calling a referendum on EU membership, his successor Teresa May announced a snap election decision this week, to be held on the 8th June 2017, mercifully only 7 short-weeks from today and despite her denying any plans for an early […]
“Liquidity”…… is defined as a measure or extent to which a person or organisation has cash to meet immediate and short-term obligations, or assets that can be quickly converted to cash to do this. Put another way, it’s the life-blood of the markets without which they cease-up. There are numerous clues to assist in […]
In the late February overview, “¥en, a Desire to Watch Closely,” the message was “if ever there is a time to keep a very close eye on the ¥en, or more importantly the $US/¥ cross-rate, it’s now.” At the time the cross rate was 112.5 with four charts outlining the close correlation of the $US/¥ […]
“Rock On”…… is a song written by British singer/songwriter David Essex and recorded in 1973 shortly before a UK referendum took the nation into the European Union. In the week when “Article 50,” the process by which member states may withdraw from the EU, was triggered by the British Prime Minister, “Rock,” hit the news […]
Italy……the birthplace of the “Treaties of Rome,” which ushered in the European Economic Community, also labelled as the “Common Market,” is a fitting place for the great and the good of the now “European Bureaucratic Monster” to celebrate its 60th anniversary this weekend. Originally attended in Rome on the 25th March 1957 by representatives from […]
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Impeachment…..Is defined as a charge of misconduct made against the holder of a public office and they do not get any higher in the United States of America than the office of The President.
The airwaves and financial talk-shops are abuzz today following the allegation that President “the Donald” Trump asked the former FBI Director James Comey to drop a criminal investigation into one of his former top aides and, if true, did this amount to an obstruction of justice? A memo penned by Comey comes a week after he was fired by Trump and relates to a meeting they had last December, as the FBI was examining the role of Michael Flynn, who subsequently resigned as the National Security Adviser in February. The memo, as cited by the New York Times, suggests that Trump told Comey “I hope you can let this go,” going on to say, Flynn was a “good guy.” The memo follows a recent Washington Post report that Donald Trump had breached the trust of one of its allies during a meeting in the Oval Office with Russian foreign minister Sergei Lavrov and Russia’s ambassador in the US, by revealing information regarding a possible Isis plot to target airliners using laptop computers.
The allegations within both the memo and report were denied by White House officials but either way it’s upset the markets and over-shadowed any upbeat expectations following recent Trump initiatives such as the tax reform plans.
As for the impeachment speculation we look to the charts, as charts never lie, plus they do a pretty good job on analysing the collective social mood, and to a student of Socionomics, mood governs events, so charts are a very useful tool. In fact we used charts of the Dow within the March 2016 “Trump Card” overview, which observed the following:
“The mid-1970s was also a turbulent time for American politics, as Republican President Richard Nixon resigned from office in 1974 whilst facing an almost certain impeachment over the “Watergate scandal.” It is also interesting to note that oil prices were rocketing, following the 1973 Arab oil embargo, whereas today they have collapsed, following a debt-fueled over-capacity binge. “Tricky Dickey” picked a bear market to orchestrate the break-in, whereas the philandering “I did not have sex with that women Clinton, Bill that is,” picked the near peak of the 1990s mega bull-market, in December 1998, to avoid impeachment and acquitted on a lack of votes, particularly from the Democrats:”
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At its simplest, for Nixon the social mood was negative, hence the chances of impeachment were high, whilst for “Teflon Bill” stocks were high, mood was positive and frankly the herd was making to much money to worry about Clinton’s alleged philandering.
Fast forward to today and stocks are at all-time highs, akin to Clinton’s impeachment talk:
So there you have it, it’s the wrong time and the wrong collective social mood to think about impeachment, but that’s not to say that we are not in a period of market correction, in fact our colour-coded guides are suggesting just that.
Perhaps now, dear reader, is a good time to try the “At your discretion” option in respect of our Investment Markets Overview. You pay what you think its worth.