Markets surge to record highs, dollar jumps following Trump victory



President Donald Trump promised to usher in the "golden age of America" in his victory speech early Wednesday morning. At the open of trading hours later, the Dow gained over 1,320 points (in excess of 3%) while the S&P 500 index increased by 1.9% and the Nasdaq rose by 2.2%.

CNN indicated that this is the first time the Dow has jumped over 1,000 points in a single day since November 2022.

While some analysts suspect the decisiveness of the win may have put some investors at ease, others figure Trump's policy proposals — especially those pertaining to deregulation and taxes — have investors excited.

Michael Block, COO at AgentSmyth, told CNN, "There is this huge perception of [a] business friendly, tax-friendly regime coming into place, especially with them winning the Senate."

'Business animal spirits could be rekindled once again.'

Republicans have secured a majority in the U.S. Senate and are poised to keep the House.

"Assuming the House goes Republican, we expect that a Red Sweep outcome will play out in a similar fashion to the 2016 playbook but to a lesser degree given a more mature economic backdrop and higher equity valuations," Jeff Schulze at ClearBridge Investments told Bloomberg. "Business animal spirits could be rekindled once again from Trump's pro-business approach."

As it became clear Trump was going to win in a landslide, the price of Bitcoin rocketed from south of $70,000 to over $75,000 overnight, zigzagging around $74,400 Wednesday morning. This jump was energized by Trump's embrace of crypto on the campaign trail.

In July, Trump told crypto boosters at a Bitcoin conference in Tennessee that he would make the U.S. the "crypto capital of the planet."

Not only did the U.S. dollar rise against the euro, the peso, the Japanese yen, and the Chinese yuan in response to Trump's landslide win — the biggest rise since March 2020 — the New York Times indicated that yields on U.S. government bonds also climbed sharply. Treasury 10-year yields reportedly advanced 18 basis points to 4.45%.

While the American market was ostensibly made great again, European stocks took a tumble Wednesday afternoon. CNBC noted that the pan-European Stoxx 600 was down 0.68% by 4 p.m. London time.

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Stock market CRASH: What does Warren Buffett know that we don't??



Americans woke up on Monday morning to a stock market plunge after a bad day on Friday. The Dow plummeted hundreds of points, Warren Buffett is selling stocks like crazy, and to top it all off, Japan’s stock market had its worst day since 1987’s Black Monday.

Glenn Beck is understandably worried.

“Friday, we had a bad jobs report. We’re still not in a recession; indicators are showing that we’re headed towards one, but the indicators have been wrong before. We are headed towards one; we’re headed for a depression at some point,” Glenn Beck warns.

Glenn is concerned about what this might mean for ordinary Americans and the United States economy and consults financial expert Carol Roth for some advice.

Roth explains that while the Fed did not lower rates, it might be on the table in September.

“Normally, you would say, ‘Okay, the market wants the Fed to cut rates,’ but what happened is then we got a weak job report on Friday, and while sometimes the bad news can be good news for the market, in this case, they took it as bad news,” Roth tells Glenn.

“The Fed was behind the curve in terms of lowering rates,” Roth continues. “They felt like maybe this whole idea of a quote ‘soft landing,’ the idea that you can get the inflation down without wrecking the economy, is off the table.”

However, while it doesn’t look good, Roth says that “if there is any silver lining here,” it’s that the market did not open back up and continue to fall.

But there are still major indicators that something strange is going on, and one of them is Warren Buffett’s recent behavior.

“Another catalyst that we’ve seen is Warren Buffett,” Roth says. “He had lessened his position in Apple by about 49%.”

“That’s not lessening. That’s cutting it in half,” Glenn says. “He’s making some of the biggest sales he’s ever made. It’s almost as if he’s becoming bullish on America. What does he know that we don’t know?”

“Starting in 2019, he doubled down on Japan. So he has five really big companies and really big positions in Japan. So the day that we’re talking about Japan going down and at the same time the U.S. is going down,” Roth says. “It is interesting.”


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Trump blames market bloodbath on Harris-Biden administration, dubbing it the 'KAMALA CRASH'



President Donald Trump warned in the lead-up to the 2020 election that the stock market would crash in the event that Joe Biden and Kamala Harris were afforded an opportunity to lead the nation. When the crash did not come immediately, the liberal media laughed off his warning as politically charged nonsense.

Again, earlier this year, Trump warned that the market would be headed for trouble under the Harris-Biden administration, and again he was mocked like the Cassandra of Greek legend.

Sam Stovall, chief investment strategist at CFRA Research, was among the many who shrugged off Trump's doomsaying, telling CNN, "Fear sells."

The X account for what is now the Harris campaign shared a post in May mocking Trump's warning. President Joe Biden re-shared the post along with a meme insinuating Trump was a loser.

Months later, it became clear that Trump's fears, though premature, were justified.

A dismal Labor Department job report landed Friday, fueling fears of a coming recession and sparking a market selloff. Amid the U.S. market nosedive Friday, Trump responded on Truth Social, writing, "Kamalanomics."

'Of course there is a massive market downturn. Kamala is even worse than Crooked Joe.'

Markets tanked again Monday morning. Blaze News noted that the Dow opened down more than 1,000 points and as of mid-morning hovered about -2.6% overall. The tech-heavy Nasdaq, meanwhile, was down over 560 points or 3.36%.

The Chicago Board Options Exchange's Volatility Index (VIX), which reflects the market's expectations for the relative strength of near-term price changes of the S&P 500 Index, has shot up 170% since Friday and is poised for its biggest single day rise on record, according to Reuters.

Trump spared no time swapping out his warnings for blame.

"STOCK MARKETS ARE CRASHING, JOB NUMBERS ARE TERRIBLE, WE ARE HEADING TO WORLD WAR III, AND WE HAVE TWO OF THE MOST INCOMPETENT 'LEADERS' IN HISTORY. THIS IS NOT GOOD!!!" Trump wrote on Truth Social.

Trump later wrote, "Of course there is a massive market downturn. Kamala is even worse than Crooked Joe. Markets will NEVER accept the Radical Left Lunatic that DESTROYED San Francisco and California, as a whole. Next move, THE GREAT DEPRESSION OF 2024! You can’t play games with MARKETS. KAMALA CRASH!!!"

Having clearly settled on the alliterative put-down, Trump again took to Truth Social, writing, "VOTERS HAVE A CHOICE — TRUMP PROSPERITY, OR THE KAMALA CRASH & GREAT DEPRESSION OF 2024, NOT TO MENTION THE PROBABILITY OF WORLD WAR lll IF THESE VERY STUPID PEOPLE REMAIN IN OFFICE. REMEMBER, TRUMP WAS RIGHT ABOUT EVERYTHING!!!"

Trump's running mate, Sen. JD Vance (R-Ohio), took to X to note that this "moment could set off a real economic calamity around the globe. It requires steady leadership — the kind President Trump delivered for four years. Kamala Harris is too afraid to answer media questions and cannot lead us in these troubled times."

Rather than acknowledge the market bloodbath, the Democratic Party elected instead to celebrate Harris' record Monday, lauding her and her former running mate for "one of the greatest economic comebacks of any administration."

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Dow Jones closes above 37,000 for the first time



The Dow Jones Industrial Average surged more than 500 points on Wednesday, closing above 37,000 for the first time, according to reports.

The historically high close for stock index came on the same day that the Federal Reserve announced plans to maintain current interest rates. A Federal Open Market Committee statement notes that "the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent."

During a press conference, Federal Reserve board of governors chair Jerome Powell said "tight policy is putting downward pressure on economic activity and inflation, and the full effects of our tightening likely have not yet been felt."

He noted that "we believe that our policy rate is likely at or near its peak for this tightening cycle," but also said that officials are "prepared to tighten policy further, if appropriate."

Data released on Wednesday listed 4.6% as the median projection among Fed officials for the rate by the end of 2024.

While the rate of inflation has been on the decline, Americans' have still been experiencing the persistent erosion of the purchasing power of their hard-earned dollars over time.

"The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in November on a seasonally adjusted basis, after being unchanged in October," according to the U.S. Bureau of Labor Statistics. "Over the last 12 months, the all items index increased 3.1 percent before seasonal adjustment."

President Joe Biden, who aims to secure another four-year term during the 2024 presidential election, declared in a December 12 statement, "Today’s report demonstrates continued progress bringing inflation down and lowering costs for American families. Inflation is now at 3.1 percent — down by nearly two thirds from its peak."

"While Congressional Republicans fight for the wealthy and big corporations, leaving hardworking families to pay the price, I'll keep fighting to bring down costs and grow our economy with a strong middle class," Biden claimed in the statement.

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Why we're 'RUNNING OUT OF OPTIONS' to avoid economic collapse

Why we're 'RUNNING OUT OF OPTIONS' to avoid economic collapse

The interest alone on America's debt is nearing $1 trillion — 'We're running out of options'



The stock markets may have had a good month in November — but that doesn’t mean it’s going to last.

After the United States has racked up $20 trillion in federal debt since 2008, Glenn Beck believes the next debt scare could be the real thing.

Glenn refers to an article titled “The Federal Reserve Broke the Budget. Buckle Up for What Comes Next” by Jed Graham of Investors.com, which details the undeniable reasons for the incoming crash.

“Exhibit A,” Glenn reads, “in the case of the broken federal budget is the deficit's surge in fiscal 2023, which ended Sept. 30. Unemployment was near a record low and GDP growth was strong.”

All that sounds great, but under those conditions, the budget deficit would be more likely to shrink. In this case, it doubled to $2 trillion.

“After the Fed sent more than $100 billion in interest on its bond portfolio to the Treasury in fiscal 2022,” Glenn continues, “it had to halt those payments last year as bond prices fell.”

“Having let inflation get out of the bag, an 8.7% cost-of-living adjustment stoked a $134 billion increase in Social Security checks.”

About $100 billion then went to FDIC bailouts to banks like Silicon Valley Bank.

“To top it off, the Fed hiking its key rate past 5% forced Uncle Sam to pony up an extra $177 billion in interest on the debt,” which Graham believes is a problem that will continue growing by “leaps and bounds.”

Glenn sees an end in sight.

“We’re going to have a surge. Enjoy it while it lasts,” he says.


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Dow takes sharp dive after reports that Biden plans to double capital gains tax on wealthy



The Dow Jones Industrial Average made a quick turn for the worse Thursday, closing down 321.41 points following reports that President Joe Biden plans to double capital gains taxes on wealthy Americans.

What are the details?

The New York Times reported just before noon that Biden was seeking to raise capital gains on the proceeds of assets like real estate or a stock for Americans earning more than $1 million from 20% to 39.6%. The newspaper stated that the president was seeking to tax the rich to "fund child care and education."

Bloomberg also reported the proposed hike 15 minutes later, noting that under the plan:

For $1 million earners in high-tax states, rates on capital gains could be above 50%. For New Yorkers, the combined state and federal capital gains rate could be as high as 52.22%. For Californians, it could be 56.7%.

In reaction to Biden's purported proposal, Sen. Chuck Grassley (R-Iowa), a top Republican on the Senate Finance Committee told the outlet, "It's going to cut down on investment and cause unemployment."

Pointing to the 2017 tax cuts under President Donald Trump, he added, "If it ain't broke, don't fix it."

Jack Ablin, Cresset Capital Management's founding partner and CIO, told CNBC, "Biden's proposal effectively doubles the capital gains tax rate on $1 million income earners. That's a sizable cost increase to long-term investors. Expect selling this year if investors sense the proposal has a chance of becoming law next year."

What did Jen Psaki say?

During a media briefing in the afternoon, a correspondent pointed out to White House press secretary Jen Psaki that "the Dow is down about 350 points on reports that the Biden administration is going to propose doubling, essentially, the capital gains rate for high-income Americans."

The journalist asked, "Can you tell us any more about that plan, and do you have any concerns that that would discourage long-term investing?"

Psaki said that the administration was still working out the details on how to pay for Biden's tax hikes for funding his forthcoming initiatives, but explained, "The president's calculation is that there's a need to modernize our infrastructure, there's a need to invest in child care, there's a need to invest in early childhood education, and making our kids and the workers of the next generation more competitive."

"His view," she reiterated, "is that that should be on the backs — that can be on the backs — of the wealthiest Americans who can afford it."

She added that the view of the administration "is that that won't have a negative impact."

Bloomberg reported earlier that Biden will propose almost doubling the capital gains tax rate for wealthy individua… https://t.co/Mk2zi1ylnR
— Bloomberg Quicktake (@Bloomberg Quicktake)1619119738.0

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