The financial markets are nervous about lots of things right now — trade wars, the condition of the economy, what the Federal Reserve is thinking.
And the biggest of all should be the sour relations between the two political parties in Washington.
I’ve said that the political crisis in Washington would play out in three acts.
Act 1 ended when Special Counsel Robert Mueller exonerated President Trump but left enough meat on the bone to keep the Democrats gnawing.
I said Act 2 would come when Attorney General William Barr and others go after all the government officials who tried to, first, prevent Trump from being elected and, second, get him out of office after he was elected.
That’s called a coup d’etat. The self-proclaimed “resistance” against Trump will soon get its day in court.
Act 3 will be the Democrats’ response. As I said, they are going to have to shout nasty things about Trump and scream about impeachment so it will look like the terrible things they are going to face in Act 2 are really nothing more than retaliation by Trump.
House Speaker Nancy Pelosi said privately last week that she wanted to see Trump in jail. Jerry Nadler, the Congressman from New York, is pushing for impeachment. That’s all for dramatic effect — the Democrats have to jump off the deep end before AG Barr pushes them.
The Democrats are going to lose in the end, which means they will have already given up any chance of beating Trump in 2020.
It’s going to be exciting.