Monday 21 September 2020

President Trump? President Biden? Or President Pelosi.

Baltic Dry Index. 1296 +02  Brent Crude 42.98

Spot Gold 1951

Coronavirus Cases 21/9/20 World 31,099,532

Deaths 965,493 

'A republic, if you can keep it'

Benjamin Franklin

The big story this week, and in all likelihood until the US election on November 3rd, until the new Congress gets sworn in on January 3rd, and the next President sworn in on January 20th, is just how much is the USA going to change in the next 4 years?

Make no mistake, the USA is about to undergo massive political, social and economic change no matter what the election outcome.

President Trump has promised to announce a new Supreme Court Justice this week to fill the vacancy. The Democrats are acting like spoilt teenagers, outraged at a Republican President following President Clinton’s nomination of extreme left wing Justice Ginsburg. President Trump, will of course nominate a conservative Justice.

Leading Democrats at the weekend have suggested that if he does and the Senate confirms the Justice,and if they win the Senate  and Presidency in November, they will gerrymander the constitution.

Namely, add more left wing Justices to the Supreme Court to get a socialist majority. Make Puerto Rica and Washington D.C. into states, adding 3 or 4 Senators and Congressmen to their Democrat majority. And though they didn’t specifically state this, probably revisiting their calls in 2016-2017 to abolish the Electoral College.

If President Trump’s nominee fails or simply isn’t voted on, any disputed 2020 Presidential election, would end up in front of a Supreme Court that might split 4v4.  If so, that seems to make  for a President Pelosi President, though I’m not sure if she gets to pick the new Vice President or the Congress does.

If President Trump gets elected, but the Republicans lose the Senate, the impeachment process starts all over again.

No Electoral College and the east coast states, plus the west coast states, plus Chicago, get dominate future US elections. A very different socialist, re-distributive, “eat the rich,” future USA lies ahead.

All in all, for now, the USA and the dollar are very far from a safe harbour, politically stable investment destination.

Shares cling to tight ranges as attention shifts to U.S. election, stimulus

September 21, 2020

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