Failing Thursday – Democracy and the Bull Market Now on Life Support

Image result for trump fascist"A little whiff of fascism."

That was the quote of the day regarding yesterday's firing of FBI Director James Comey, who the White House now says "threw a stick of dynamite into the Department of Justice, and committed “atrocities” in his handling of the Clinton email saga."  That's just a week after saying Hitler wasn't such a bad guy after all but the Director of the FBI, now HE committed atrocities!  Wow!  Wow!  

Once upon a time, that statement alone would have been all people were talking about but now that's just another day in Washington, barely worth a mention.  Also not getting a mention are reports that Comey told associates that Trump was "outside the realm of normal,” even “crazy."  I guess we can file that under "so what else is new?" but investors are voting with their feet this morning and, as we predicted yesterday, the markets are turning down a bit.

Political turmoil is never attractive to investors and this is not something the President can tweet away (and read the comments under the tweet, they are hysterical).  There are currently 3 separate investigations going on and, while we are focused on the FBI investigation due to Comey's firing, the Senate is investigating this morning and, in fact, Comey was supposed to testify but his timely firing will prevent him from coming today and instead the temporary Director of the FBI will testify to things he did not directly know about.  Just a coincidence that Comey was fired right before he was scheduled to testify, I'm sure…

While Team Trump is hoping for a rubber-stamp from the Senate this morning, the Senate has to at least pretend they are conducting a real investigation or they face severe political backlash as the polls have already turned very much against them.  Republicans would rather sacrifice a President than sacrifice control of the House and Senate and those are the stakes going foward (aside from our Democracy, which has already been sacrificed, of course). 

Not many people have been paying attention to the Senate testimony so far but back in March, we already had a boatload of data from Marco Rubio, who
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