presidential elections

One month after Goldman strategists downgraded equities to neutral on growth and valuation concerns, the firm has turned up the heat on the bearish case with a report by Christian Mueller-Glissmann in which he says that equity drawdown risk “appears elevated” with S&P 500 trading near record high, valuations stretched, lackluster economic growth and yield investors being “forced up the risk curve to equities."

Kevin Drum has a rather strange post up about California and Proposition 187. He argues as follows:

Here’s what California has looked like in presidential elections over the past 35 years:

Unless I made a mistake somewhere, Prop 187 had precisely zero effect. As the non-white population of California rose, the Democratic share of the presidential vote rose in almost perfect tandem. After 1994, it continued growing at the same rate as ever.

While the US political and financial establishment has been firmly opposed to a Trump presidency, an unexpected supporter for the presumptive GOP candidate has emerged in Russia, where the head of the Russian Upper House Committee for Foreign Relations, Konstantin Kosachev, said that a victory for Donald Trump in the US presidential elections would provide the "shake up" Washington needs and could be the catalyst to reverse the rapidly deteriorating trend in US-Russian relations.

Submitted by David Stockman via Contra Corner blog,

In the latest attempt by a state to disenfranchise voters, Ohio residents are finding that if they haven't voted in the past six years, they will be purged from the voting rolls.