New York Post: Impeachment May Lead to Another October Market Crash
Article by John Crudele in New York Post
I’m going to tell you what is likely to happen that will make this October potentially the most dangerous of them all.
Another October stock market crash as in 1907, 1929, 1987 or the near-crash in 1989?
I can’t predict that. But I can predict that what’s about to happen in Washington will keep investors awake at night. And if your financial adviser doesn’t have a clue as to what I’m going to tell you, get a new adviser.
I predicted months ago that the Democrats would have to ramp up their attacks on President Trump as we got closer to the time when a report would be released by Justice Department Inspector General (IG) Michael Horowitz.
That report, years in the making, will probably contain a lot of devastating details about dirty tricks that the Democrats and their sympathizers in the FBI and the CIA pulled on then-candidate Trump.
It’s likely that people will be criminally charged shortly by a grand jury that is said to now be impaneled in Connecticut.
All of these developments could happen very soon.And I sense that the Democrats know this — and I’m told by a reliable source that the Dems have already seen some of the allegations. This is behind the sudden, intense push for the quick impeachment of Trump.
The biggest problem for Wall Street is that the Democrats can’t let up on their attacks on Trump. If they do, they would essentially be conceding next year’s presidential election to Trump.
So how does this all affect the financial markets?
Trump has already said impeachment would cause the stock market to collapse. Wishful thinking, maybe, so he can blame the Democrats.
But there are other economy problems all this political chaos could cause. It is unlikely Trump will be able to make much progress on economic issues like trade with China if foreigners think he’s in jeopardy of getting kicked out.
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