Following a disturbing Presidential debate, Wall Street was bracing for “what else can go wrong?”. The debate  itself was akin to watching a car race where the most exciting moments are the carnage. And there was carnage – American carnage – silliness and crass behavior by the President for the whole world to see and celebrate.  And within a few days, the President, blissfully unaware of the seriousness of the virus, tested positive for Covid and now has gone into hiding i.e. quarantine. Hopefully, his Twitter handle has also been sent to quarantine.

If there was any semblance of normality to the 2020 Presidential elections, it is now all but gone. The next Presidential debate will likely be canceled and when the Twitter operator wakes from quarantine, he will likely be spewing incoherent messages that will further rattle investors and Wall Street alike.

The big question is – what happens between now and Nov 2, 2020?

Future Wealth’s View

Not too long ago, on Aug 23, we had written in our article that we could expect a “Trojan Horse” in October. Link is here – Little did we know that the candidate himself would be the trojan horse. The pundits are now all over the news on how the President could garner a ton of sympathy votes when the reality is more a lesson that has been taught numerous times to little kids – if you play with fire, you will get burnt.

In many  ways, Covid has exposed a massive decline in government – A dysfunctional White House, Congress noodling around contesting every dollar of every stimulus package when millions are losing employment everyday and the Fed appears to be more worried about containing inflation when hundreds of businesses are shutting down like a pack of cards.

Wall Street has never been an appropriate safe haven for investors in perilous times and now, more than ever, is not a time for investors to take wild risks with their money. As the saying goes “There is no such thing as rock bottom”.