iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
23,433 Blog Posts

TRUMP’S TRAVEL BAN REINSTATED BY SUPREME COURT; MARKETS PLUNGE

The Supreme Court has decided they will hear Trump’s travel ban case in October, which restricts immigration from Iran, Libya, Somalia, Sudan, Syria, and Yemen. How will this great nation survive without the people of Somalia?

I can’t believe we’re even debating this nonsense.

Via SCOTUS

“An American individual or entity that has a bona fide relationship with a particular person seeking to enter the country as a refugee can legitimately claim concrete hardship if that person is excluded,” the Court wrote. “As to these individuals and entities, we do not disturb the injunction. But when it comes to refugees who lack any such connection to the United States, for the reasons we have set out, the balance tips in favor of the Government’s compelling need to provide for the Nation’s security.”

Markets do not like this sort of thing. Anything that is anti-globalism is a direct threat to status quo. Expect tech stocks to get BLOWN THE FUCK OUT. Less immigration means higher wages and zero wiggle room for chicanery. It also means Trump’s original doctrine might be picking up steam, which markets will not like — at all.

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20 comments

  1. tonka

    Someone point me towards the selloff that happened when the executive order was first signed.

    Why would it matter now when it didn’t matter then?

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  2. acehood

    Markets rallied strongly on the Trump doctrine.

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    • Dr. Fly

      One could argue it was a short squeeze, coupled with a disbelief that his doctrine would ever see the light of day.

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  3. traderconfessions
    traderconfessions

    Markets Plunge? Maybe on your Exodus screen but not mine. Couldn’t care less about the ban. Just another useless Trump sleight-of-hand solution to a complex problem. I’m more worried about so some crazy American with a machine gun.

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    • metalleg

      Live in fear much?

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    • matt_bear

      no you’re not. LOL

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    • TJWP

      Hmmm let’s see: these countries are known to train terrorists, and even if they didn’t there is no value add from immigration… so he bans it.

      SEEMS LIKE A REALLY COMPLEX PROBLEM RIGHT? All sleight of hand clearly!

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    • t.c.

      fag (not meant to offend real donkey-punchers or salami-smokers)

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    • heaterman

      Define machine gun Tradercon.
      Can you tell me what the meaning of the term is?

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      • traderconfessions
        traderconfessions

        Okee dokee… I’m referring to an UZI or similar device. BTW, I have no problem with anyone owning a handgun, hunting rifle orshotgun. Also, I was on my junior high rifle team. Dead-eye Trader was my nickname. So fuck off.

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    • cancel19

      Like always trader is trolling!

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  4. oilerua

    market plunge for this ? and how do you draw this cukooo correlation sir

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  5. sarcrilege

    Somalies create a lot of demand and investment. Restricting their travel to US will surely damage the economy.

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    • TJWP

      Yea a lot lower demand for gibsmedats and lower demand for excessive community policing and outreach.

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  6. ironbird

    Haha. Never again will Libtards win at anything. Losers for life. Winning will be forever banished from the history books. Deal with it.

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  7. t.c.

    This is a big deal and it will be bigger when he wins on the merits this fall. If liberals love sharia so much, they can move to Syria or Libya or Somalia or Saudi Arabia. Lots of choices there guys, stop being fake Americans or get the hell out of our country.

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  8. heaterman

    I seriously doubt this will have any effect on tech. Seriously.

    How many immigrants from Iran, Libya, Somalia, Sudan, Syria, and Yemen do we get here in the US looking for anything to do with tech other than making car bombs?
    I haven’t found a ticker symbol for that industry yet…………

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