We checked our portfolio.
And we knew that everything had changed. For us. Most likely also for the nation. Maybe for the world.
We were spooked. We would stay spooked. The confidence in the economy and our ability to navigate it went poof. Never can we retire, we are thinking. With inflation back, would expenses outrun our budgets. Oh, no, credit card debt to get by, again. The kids will never be able to land a good enough job to pay off those student loans. Those kids might include newbie JDs with a six-figure nut to crack.
Obviously, unless those numbers in our portfolio started going up, the Make America Great party was over. Economic Man and Economic Woman have no emotional option but to turn on him.
How will the conservative Drudge Report position and package the Crash of Trumpism Everything?
Is the unthinkable thinkable: There will be a stink on the whole conservative movement? Steve Bannon will grow old before it can shake off the stink and he rebrands as relevant.
Those brandname law firms which defend the Weinsteins and the Roman Catholic Church types (e.g. Boies, Schiller and Jones Day) will be vilified. Welcome to a 21st century version of the late 1960s counterculture. Power to the (Liberal) People. Even in traditional GOP territory, we can mouth off.
Since it's so close to the midterms, that souring of the heady attitude about America becoming great again could make for big wins for the Democrats. Nancy Pelosi could become majority leader of the House. Progressive governors could take over the states. Attorneys generals could, as in the go-go 1990s, file public nuisance lawsuits, including against the former lead paint manufacturers/marketers such as Sherwin-Williams.
Meanwhile, the Dow is down 36+. For decades we counterculture players have been waiting for the ethos of The Revolution to return. Maybe it has. Yes, Bro and Sista, you can bunk on my couch, free. No going through AirBNB. Wealth will return not to matter. All that will matter is our sense of a political self. We are the people. We are no longer our portfolios because there may be nothing left in them by the end of October.
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