Worrisome Stock Market Reflects Republicans Failure to Deliver
It was possible to predict back in May of this year that McCain and his friends in the Senate would attempt to scuttle the entire Trump agenda as part of the Liberal Republican/Democrat “Uniparty” which has thwarted as much of Trump’s agenda as it could possibly get away with, from budget cuts to repeal of Obamacare right down to judges and staffing the administration.
Has the stock market finally realized that nothing major Trump wants will get through Congress, after ignoring all the evidence and clutching unto one straw after another that this wouldn’t be true? The market so far has gone higher about 5-10% (depending on the index) as massive cuts in regulations by Trump helped the economy overcome the terrible Obama legacy of greater debt, regulations and taxes.
Following many weeks of stock market gains, stocks are now stumbling as Republicans in the House and Senate struggle with tax cuts which may prove to be a false hope as well. On Thursday, November 9 the stock market was down 100 points. Might a sell-off be looming ahead?
Reaction to Virginia Elections?
The sell off on November 9th seems to represent the market’s delayed reaction to the Virginia elections, thus putting the final nail in the coffin for tax cut hopes. Moreover, it has been reported that McCain plans to kill tax reform.
There is no way Republican Congressmen in blue states will raise taxes on their donors by eliminating the deduction of state and local taxes for the federal income taxes, and this includes my own blue state of Illinois. Having been burned by the Senate on Obamacare, there is also no way any Republican House member will take a tough vote on tax reform to raise anybody’s taxes when they know McCain and his fellow “Never Trump” Senate “Republicans” will make sure it goes down to defeat. Additionally, any hope of getting some Democrat votes for tax cuts also went out the window with the Virginia results.
Polling was all over the map for Virginia Governor. Ed Gillespie, who favored amnesty, received about 150,000 more votes than did the Republican candidate for Governor in 2013. The same was true when Gillespie ran for the U.S. Senate in 2014. Nevertheless, Democrats received about 330,000 more votes this year than during those years. Had the Democrats lost Virginia Governor, a state that had been trending Democrat for over a decade, it would have been virtually the end of the Democrat party. Their backs were to the wall, and, unlike the Republican Party mandarins, they buried their differences and went all out to win.
Republican Rep. Scott Taylor of the swing Virginia Beach area told The New York Times the following after Gillespie’s election night loss:
“I do believe that this is a referendum on this administration”, further blaming Trump’s “divisive rhetoric” for the sweeping losses statewide.”
Displaced Blame by Republicans
You can always count on the Republican political establishment to blame everyone but themselves for their losses. It is always 1964 for them – “we lost because of those damned conservatives” –1980, 1994, 2010, 2014, and even in 2016, when conservatism was front and center in electing Trump.
If Trump were responsible for Gillespie’s loss, how is it that the much more conservative Lieutenant Governor received 50,000 more votes than Gillespie? This is virtually unheard of in a statewide contest? Did anyone notice that Gillespie ran a lousy campaign that did nothing to excite the grass roots of the Republican party? Just like Romney, no one believed his sudden conversion to conservatism with a centrally controlled, weak themed campaign. It was “hold your nose and vote for the lesser of two evils.” That only gets the base to the polls, not swing voters like Trump got in 2016.
In going back to the 2013 Virginia results, conservative Ken Cuccinelli lost because the “moderate” wing of the Republican party made sure he got no money and openly supported the Democrat or the Libertarian, who got a big vote for that party with well over 6% of the vote. It was in 2014 that Gillespie got his nickname “Amnesty Ed” because he refused to condemn the “Gang of 8” amnesty bill. “Moderates” can’t have it both ways, by knifing conservative Republicans in the back when they win the primary, but expecting all out support from conservatives when they win the primary.
Democrats have a split party that can only be united by hating Trump, which worked in Virginia. Any hope that a handful of Democrats will side with Republicans on the tax issue is over. The “moderate” Republicans who supported Gillespie have decided they can’t help themselves by throwing a few bones to the Trump wing of the party, so they will retire or try to ride out the storm, hoping Republican voters won’t display their anger toward those Republicans who are not helping Trump on taxes or anything else.
Trump has attempted to cut a deal with the Establishment wing of the Republican Party to get the basic elements of his agenda passed in Congress. He has even attacked his own base by blasting the Freedom Caucus on Obamacare repeal. It is unfortunate that Trump has not helped himself by stuffing his administration with establishment hacks, but as they fail to deliver, they too will likely be on their way out, as was Reince Priebus. And if tax cuts don’t get done, it will be total warfare resulting in more primaries against the establishment who still supports the political and economic status quo at all costs.
Disagreement Now Calls for Violence
Should non-establishment candidates be concerned about crossing people in power? Here’s the latest example: A very prominent Senator, a legitimate contender for the 2024 Presidential contest, was almost murdered and yet his attacker gets off with a relative wrist slap and the media blatantly lies about the obvious political motive of his attacker.
This reminds me of the attack of U.S. Senator Charles Sumner on the floor of the Senate in 1856. Instead of Southerners holding back Northern Senators from saving Sumner from getting killed, we have the media and the local authorities covering up a terrible crime that should shame and horrify everyone in politics but doesn’t.
Conservatives have gotten the message. Just like the South would not tolerate the slightest attempt to constrain slavery, the party of modern slavery will tolerate no changes that would end the welfare and (illegal) immigrant slavery that fuels its power. I expect the demonetization of conservatives that appeared to work in Virginia to be done all over the nation in the 2018 off year elections. Unlike 2016, there will be no restraint in 2018 because the forces of the status quo know they can lose this time and are totally desperate.
Establishment Republicans Lose Sight of Nation’s Future
As John F. Kennedy said: “Those who make peaceful revolution impossible will make violent revolution inevitable.”
Trump inherited a society that is the verge of a breakdown because of a ruling establishment whose only response to economic and social problems is to double down on previous “solutions”, from crony capitalist government fueled by debt to a society fractured by unassimilated immigration and sexual immorality.
If Trump fails, or is blocked from enacting those principles and values upon which he was elected, can this nation survive what will surely follow? This nation might survive, but freedom and liberty will be forever lost. This once great nation will be relegated to the dustbin of history, along with the great experiment our Founding Fathers created and bestowed upon future generations of Americans with great hope if we were able to could keep it.
Although a staunch conservative Republican all her life, it wasn't until the mid-90s that Nancy not only realized she could write, but that she also had strong political opinions that needed to be expressed.
Nancy is active in the following organizations: The Heartland Institute, The Illinois Policy Institute, Phyllis Schlafly Eagles, Illinois Family Institute, Family-Pac, Republican Assembly of Lake County, and the Women's Republican Club of Lake Forest/Lake Bluff. She regularly attends Lakeview Presbyterian Church, PCA.
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