If Donald Trump Is Impeached, You Should Expect The Mother Of All Stock Market Crashes To Happen
If Donald Trump Is Impeached, You Should Expect The Mother Of All Stock Market Crashes To Happen by Michael Snyder for The Economic Collapse Blog
News that an impeachment inquiry is being initiated instantly sent stock prices tumbling on Tuesday, but that small jolt is nothing compared to what we will experience if Donald Trump is actually impeached. Over the past couple of years we have seen a tremendous boom in stock prices, and one of the big reasons for that boom is the fact that the folks on Wall Street know that Trump is always going to be looking out for their best interests. Trump understands that his chances of winning again in 2020 will be greatly enhanced if stock prices are rising and most Americans believe that we have a “booming economy”, and so he wants to do everything in his power to try to make those things happen. That means that Trump’s short-term interests are perfectly aligned with Wall Street’s short-term interests, but things will shift dramatically if someone like Elizabeth Warren or Bernie Sanders ends up in the White House. Wall Street knows that they have a friend in Donald Trump, and losing that friend would potentially be absolutely devastating.
Needless to say, a lot of investors were unnerved on Tuesday when House Speaker Nancy Pelosi announced that a formal impeachment inquiry is being initiated. The following is an excerpt from Pelosi’s official remarks…
For the past several months, we have been investigating in our Committees and litigating in the courts, so the House can gather ‘all the relevant facts and consider whether to exercise its full Article I powers, including a constitutional power of the utmost gravity — approval of articles of impeachment.’
And this week, the President has admitted to asking the President of Ukraine to take actions which would benefit him politically. The action of – the actions of the Trump Presidency revealed the dishonorable fact of the President’s betrayal of his oath of office, betrayal of our national security, and betrayal of the integrity of our elections.
Therefore, today, I am announcing the House of Representatives is moving forward with an official impeachment inquiry. I am directing our six Committees to proceed with their investigations under that umbrella of impeachment inquiry.
The President must be held accountable. No one is above the law.
In the aftermath of that announcement, liberal celebrities all across America erupted in celebration.
But can Nancy Pelosi unilaterally declare the commencement of a formal impeachment inquiry without any sort of a vote? According to Representative Doug Collins, she actually does not have that power…
In reaction to the Speaker’s announcement, Rep. Doug Collins(R-Ga.) tweeted, “Speaker Pelosi’s decree changes absolutely nothing. As I have been telling Chairman Nadler for weeks, merely claiming the House is conducting an impeachment inquiry doesn’t make it so. Until the full House votes to authorize an inquiry, nobody is conducting a formal inquiry.”
In any event, the Democrats are going to push ahead with their investigations, and they seem determined to dig up anything that they possibly can.
In response to Pelosi’s announcement, the White House issued a statement which accused congressional Democrats of being “in dereliction of their Constitutional duty”…