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>From a trading point of view, there appears to be a major shift in the political
sands. Clinton's political supporters and defenders appear to be muted (at the
least) and dispirited if you place any credence in press reports - Dee Dee
Meyers was close to tears while being interviewed on Tuesday's Nightline.
Clinton's political enemies appear to be more emboldened, while the political
middle seems a bit more focused on moral issues. This suggests that politicians
sense vulnerability rather than strength. Clinton has retreated to Martha's
Vineyard and Gore is vacationing in Hawaii. The press is unusually focused on
issues of truth and credibility.
There is danger in relying upon the polls to gauge Clinton'ssurvivability. The
politicians and press were out in front of public opinion in the Watergate era
and appear to be out in front of public opinion once again. Do not underestimate
the ability of politicians and press to shift public opinion. So forget about
the polls, about Ken and Monica, about grand juries, about impeachment. The
signs on the wall are that this president is politically very badly damaged and
will likely be forced to resign. Whether he goes quiety or kicking and screaming
is the unknown.
I'm not convinced that a shift in the presidency from Clinton to Gore would have
a major impact on the market as long as Greenspan and Rubin stay put. The big
item at the moment is the political uncertainty which is probably not yet
factored into the market. I have no idea regarding Gore's vacation schedule,
however a quick return to DC would be a harbinger of change. The interesting
part is that all of this seems to come as many questions are raised about the US
and world economy.
Earl
-----Original Message-----
From: BrentinUtahsDixie <brente@xxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Tuesday, August 18, 1998 7:11 PM
Subject: Re: HE LIED......Politics effecting the market.
>Whether you like the President or not is not the issue. There is a high
>probability that he broke the law. If it is determined that he broke the
>law he should resign or be impeached just like when Nixon was President.
>The process of removing Nixon from office was not too good for the market
>if my charts are accurate. So you can't say it is irrelevant to trading.
>Bullish euphoria has thus far over shadowed all else it seems.
>
>Brent
>
>----------
>> From: Arnold Thompaon <arnoldt@xxxxxxxxxxxxxx>
>> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>> Subject: Re: HE LIED--------WHAT HAPPENS TO THE MARKET TOMORROW
>> Date: Tuesday, August 18, 1998 5:27 PM
>>
>> Please, if you don't like the President, then just simply cast your vote
>> elsewhere next election. Otherwise, respect the Electorial process,
>> Democracy, your fellow citizens and hope there is a functioning
>> government when this Bull market ends.
>>
>> Peter2150@xxxxxxx wrote:
>>
>> > Your kidding. Like this was a surprise??? Everyone who thinks
>Hillary
>> > didn't know raise your hand. I'd like to sell you the New York Stock
>> > Exchange. Did everyone rush out and buy stocks today, because Bill
>told the
>> > truth. Egads I hope not. Can someone postulate a thesis, as to why
>this
>> > good for the soul confession might be good for the economy?? That
>would be
>> > interesting. Oh Well enough.
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