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He’s flipping around in private, looking for the best coverage of...himself. There is a description of Trump’s hair....which is frankly gross..oh, so much more, much of which we already know, like how the president doesn’t read, and just isn’t that bright, and needs policy papers shrunk to 2 or 3 bullet points.President Trump also personally responded by saying Bannon had “lost his mind” in a statement, and that he and Bannon rarely had one-on-ones and that Bannon had been responsible for the loss of the Republican Senate seat from Alabama.“Steve pretends to be at war with the media, which he calls the opposition party, yet he spent his time at the White House leaking false information to the media to make himself seem far more important than he was,” the president added.“Remember when Bannon was going to be Trump’s outside enforcer, using the Breitbart web site to get Trumpy Republicans elected and eliminate evil establishmentarians who were improperly uncomfortable with the prospect of having their party tarnished by the Constitution-trashing child molester Roy Moore?Yes, I did say the Dow and S&P would fall 5 percent in 2018, and Nasdaq a solid 12 percent, “owing to investors souring on some of the big names that have powered the index the past year in particular, namely Facebook, Google and Amazon.”True, it’s different. “Two or more areas of new or renewed geopolitical conflict will arise. Islamic State will increase large-scale terror attacks.The above named companies are real, not dot-com frauds, with great earnings, but I’m reminded of a then well-known Paine Webber strategist, whose name I’ll save from further embarrassment, who I quoted in early 2000. War with North Korea won’t come, but by year’s end the Hermit Kingdom will have nuclear weapons and long-range missiles capable of reliably delivering them. Putin will cause more problems for the West, including a major incident in Ukraine.“Mr.It’s all about him.”“Well, now that collusion with Russia is proving to be a total hoax and the only collusion is with Hillary Clinton and the FBI/Russia, the Fake News Media (Mainstream) and this phony new book are hitting out at every new front imaginable. DACA activists and Hispanics will go hard against Dems, will start ‘falling in love’ with Republicans and their President! Also on Comey & others.”“I will be announcing THE MOST DISHONEST & CORRUPT MEDIA AWARDS OF THE YEAR on Monday at o’clock. Justice Department has begun an investigation into whether the Clinton Foundation conducted “pay-to-play” politics or other illegal activities during Hillary Clinton’s tenure as secretary of state, as reported by The Hill on Thursday, citing law enforcement officials and a witness.We are about RESULTS.”“Crooked Hillary Clinton’s top aid, Huma Abedin, has been accused of disregarding basic security protocols. Subjects will cover Dishonesty & Bad Reporting in various categories from the Fake News Media. ”“I use Social Media not because I like to, but because it is the only way to fight a VERY dishonest and unfair ‘press,’ now often referred to as Fake News Media... According to The Hill, FBI agents from Little Rock, Arkansas, where the foundation began, had taken the lead in the investigation and conducted one interview, with further activities expected in coming weeks.Grassley and Graham wrote to the Justice Department saying they believed Steele lied to federal authorities about communicating with reporters as to the dossier’s contents, the New York Times reported today.--The Justice Department rolled back an Obama administration policy to not challenge state laws that allow people to use pot for medical and recreational uses; a dramatic and unexpected shift in marijuana enforcement policy, seeing as how during the campaign, President Trump said he wouldn’t take such a step, and would “leave it up to the states.”The Obama policy, which represented a major breakthrough by advocates for the decriminalization of pot, did not change marijuana’s classification as an illegal drug.But it discouraged the pursuit of non-violent marijuana users who have no links to criminal gangs or cartel operations.
Key White House aides and at least one cabinet secretary will depart.”--Journalist Michael Wolff’s new book, “Fire and Fury: Inside the Trump White House,” roiled Washington and the cable news networks. Wolff’s work for years (it was laughable on Thursday when Sarah Sanders said he was an unknown journalist...everyone in D. and New York, for starters, knows him) and Wolff can be an entertaining sort, though not someone I’d want to have a beer with, because he can also be rather nasty.
And, importantly, would cause corporate CEOs to rapidly alter their bullish plans, or at least pull back for a while, which would upset the markets.
Anything that causes a reversal in the bullish tone for earnings, for example, will send stocks into a little crashette, of which I believe we’ll have two this year.
I’m worried about China and Taiwan, and the administration washing its hands of Syria, “leaving that country to Iran,” with Iran and Syria, together with Hezbollah, pressuring Israel, forcing it to fight back. But I also recognize, more than our president, the benefits of synchronized global growth, pounding that drum long before others did (that’s where my focus on Europe paid off..your benefit).
The point is, while market participants around the world all generally feel pretty good these days, if not euphoric, there are things out there that could change sentiment on a dime.