A huge market selloff today, and the media's mendacious mediocrities who cover politics or economics ignored the unpleasant real causes of the selloff.
Instead they quickly embraced the conveniently anti-Trump narrative, peddling more nonsense about fears of a trade war that would result from the president's imposition of tariffs on imported steel and aluminum that's been dumped in the U.S. below cost for years.
The know-nothings of the national left-wing media are incapable of understanding that the United States has been the designated global victim of global trade wars for decades.
Again, were it not for President Trump, we would remain the perpetual victim, transferring our wealth to the world, and our squandering of American riches would go on until the last bite was ripped from our carcass.
So what were markets and investors reacting to?
Certainly the Fed's poorly reasoned decision to raise interest rates weighed on the markets. Where's the inflation? Why act now? And why, when the result is to raise the cost of debt at even the Fed—not a brilliant stroke by the new Federal Reserve chair, nor was it a responsible act.
But look to Capitol Hill for the principal cause of the day's huge selloff.
The House passed a massive $1.3 trillion spending bill. RINOs Ryan and McConnell gave House members some 17 hours to read the 2,000 page bill. None did, I'm sure.
Ryan and McConnell huddled with two Dimms by the name of Schumer and Pelosi, and the Dimm duo didn't hesitate to claim victory over the majority GOP leaders.
The GOP leaders didn't want the American people to realize they were funding sanctuary cities and Planned Parenthood, plus infrastructure funding that could be used for Schumer's Gateway tunnel, and instead of giving the President his wall, replacing existing border fencing—and in so doing, blew up fiscal policy.
The budget will add an estimated $1.7 trillion to the federal debt over the next decade, and we'll see trillion-dollar deficits every year going forward.
McConnell and Ryan have joined the resistance, and the deep state.
And the Republicans have only Ryan and McConnell to blame.
And themselves, of course.