I Think We’re About Done Here

I know many of you hate my politics; of which I couldn’t care less. It’s sad, I know, but the degree to which today’s market is dominated by elected (and occasionally unelected) officials is such that you’d be crazy not to follow the politics.

Now, back in December, in the aftermath of a blood hound-bastard seeking his kicks on the backs of butchering kids, all of a sudden the administration swung around in the most opportunistic way imaginable, as if someone had dished them up a free five course meal with which to sake their hunger.

At that time, not quite as shocked as I might have thought possible, that they would try to capitalize on the tragedy, I offhandedly remarked that Obama had just put in motion the events that would make him an early lame duck.

As if the failure in the Senate of gun control wasn’t the first shot across the bow, now I’m pretty well sure this administration is firmly in the “dead at sea” category.

There’s no coming back from this. The administration’s top brass are seriously trying to stall on these three scandals. And one of them was directed at one of the press’s sacrosanct principles. You don’t run the clock out in a game like this…

If you want to gauge just how bad things are for legislative impasse, just take a good look at the mental gymnastics the administrations staunchest, most diehard of supporters are having to pull to write this all off.

So, what does this mean for things that can make you money? Well, for starters, the obvious is that gun stocks are no longer in the cross hairs, and won’t be again anytime soon. State legislation is probably still being pushed, but it’s all localized, and gun manufacturers are really good at leaving states that punish them. Plenty of other, more receptive places to call home – those stocks should be trading back where they were before December.

I can’t see any of these scandals hurting gun sales either…

The second outcome is going to be less direct and more “what would have happened?” kind of stuff. If the economy should start to slow and require more federal stimulus, you can forget it. It’s dead; done. Not happening.

As it is, negotiations on standard fiscal house affairs are going to be very contentious, and this time around Team Executive is going to have to keep its head down. It doesn’t do well to complain that those nasty Republicans are trying to destroy the country when your own IRS department just got caught targeting them.

Fiscal affairs usually poll conservative anyway – in principle people hate the debt and want government spending reigned in. Obama’s charisma and the trust placed with him were the only things that were leveling that playing field.

Every time Holder and Carney open their mouths, you can watch those things get shredded in real time.

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