ELDER PATRIOT- Despite dire economic warnings from multinational corporate leaders, President Trump announced this afternoon that he was pulling us out the Paris Climate Agreement/Accord/Treaty.
And during and after his announcement guess what happened? Investors seized the buying opportunity and drove all three of the market indexes to all-time record highs.
Earlier today Elon Musk warned the president that he would cease being a part of the president’s advisory councils. Really Elon? The poor man-boy is afraid he won’t be able to compete in a free market where cars powered by fossil fuels would no longer be at a disadvantage because of government mandates.
Musk’s Tesla has a market cap close to or higher than General Motors despite the fact it produces only a small fraction of the number of cars as GM does. Let’s see what happens when GM and Ford are free to compete without being shackled by government regulations and Musk no longer has government subsidies to fund his company.
Then there are the multi-national behemoths that have invested heavily in overseas locations and Mexico that are now fearful of the ability of America’s workers to use the level playing to out produce their overseas’ investments.
For the rest of us, it’s another big win!!! God bless Donald Trump!