America’s tense election and inauguration are now behind us. The last bit of U.S. election uncertainty? Gone. Next up--a toothless global political year. With few elections scheduled and gridlock ruling globally, big legislation won’t come from any major economy in 2021. Pockets of political uncertainty are small and far-flung. Enjoy the inactivity as stocks ride gridlock higher.
On November 11th, I told you that no matter who took Georgia’s January Senate runoffs, 2020’s close election meant gridlock won Washington. We are already seeing that. Six days after Joe Biden’s inauguration, moderate Democratic Senators Joe Manchin and Kirsten Synema teamed up to torpedo further-left Democrat’s plans to eliminate the filibuster. Manchin’s opposition to $2,000 stimulus checks also slowed and watered down Biden’s “stimulus” plans.
te stage bull market.
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