Before it’s even clear that he’s won, Donald Trump – the genius businessman, whose ability to lose other peoples’ money is without peer – has outdone himself. The news that he has a commanding lead in the presidential race has crashed financial markets around the globe. From the Guardian:
Stocks have been battered throughout Asia Pacific with the Nikkei in Japan closing down 5.36%, Australia finishing down 1.92% and Hong Kong off 2.82% (still to close there). Wall Street could see its biggest ever fall when trading opens on Wednesday with futures pointing to a 800-point drop – more than 5%. The FTSE is on course to shed 250 points. One trader in London said it was “bigger than Brexit” for the markets. The US dollar has sold off more than 3% against the Japanese yen as investors seek safe havens. Sterling and the Swiss franc were also up, as well as the euro. But the Mexican peso was a big loser – down 12.18% at 20.52.
We’re talking trillions of dollars in economic value that has already disappeared. Nice work! Can’t wait to see what the next four years brings us; I guess Americans were nostalgic for those halcyon days, not so long ago (2008), when our economy was shedding half a million jobs a month.
But wait – it must all be the fault of the “international bankers”! Conspiracy!
Except that it’s not – it’s millions upon millions of investors who can see what, somehow, a plurality of the U.S. electorate could not see: that we are in for a very, very rough and terrible ride. We deserve it.