Readers will recall that I predicted in March that President Trump would be impeached.  Today’s news only makes me more confident that it is true.  Only a resignation could preclude the impeachment.  But, I mourn for the country, because impeachment is an agonizing experience and is bad for the country.  It will not make us any less partisan.  If it must be, then I pray we pull the band-aid off quickly and get it over with!

With respect to the stock market, it will always over-react, and this is no exception.  With today’s announcement, the market plunged before recovering somewhat.  Once the market realizes that a President Pence is more stable than the current president and once the market realizes this news doesn’t make a recession any more likely, then the market will stop over-reacting.  Until then, fasten your seat belt!

Remember:  Focus on corporate earnings, not politics — which are shiny objects distracting us.