It is about 10 A.M., the first full business day after the new president crashed. As you recall, he huffed and he puffed but he couldn't blow down the House to have his Trumpcare passed.
The conservative Drudge Report, which hasn't been totally loyal to the Trump Administration, headlines with, "Stocks Turn Ugly." The financial community has lost confidence, at least right now, in Donald Trump's ability to implement his grandiose campaign promises. Here is the coverage Drudge links to at CNBC.
The last time I checked the Dow was down 145.
The implications are huge.
This plunging of the Dow could continue. If so, there is a question of the beginning of a correction. If simultaneously, faith is lost in tech as Uber and Theranos stumble, investors could lose trillions of dollars. Good luck if you are a start-up trying to get funding.
Government agencies could be in play. Sure the president announced the formation of the White House Office of American Innovation. Its mission is to apply the best practices of business and technology to government.
But can The Donald implement that. He appointed his son-in-law Jared Kushner to over the initiative. But Kushner is a rookie when it comes to the Washington D.C. game of power.
Will an emboldened Democratic Party do what it takes to prevent the confirmation of Neil Gorsuch to the U.S. Supreme Court? If so, that seat left vacant by Antonin Scalia could remain empty for the next four years.
And what about all those consulting firms and think tanks which operate inside the beltway? Will they find it difficult to close on new business?
Among them is the Deloitte Center for Government Insight. A few weeks ago, I, as a ghostwriter, had a negative experience with it. That was it for me. But what about its consultants who need assignments? The buzzphrase "policy paralysis" has caught on. That isn't a buy signal for consulting services.
Experts on Washington D.C. power games have much to analyze. But it is unlikely, after so much turmoil, any one will believe them. Or anyone else. To survive today and the next four years so many of us have concluded that we better figure it all out for ourselves. Trust, as the 2017 Edelman Trust Barometer hammers, is broken.
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