Fight disinformation. Get a daily recap of the facts that matter. Sign up for the free Mother Jones newsletter.


The Wall Street Journal reports that investors are giddy at the possibility of Republicans finally embracing crude Keynesian stimulus. Isn’t that funny? Republicans have been screaming about government spending for the past eight years, but investors are now pretty sure they’ll happily blow a great big hole in the deficit. I wonder what changed their minds?

Of course, there’s more to Wall Street’s happiness than just that. Thanks to newfound hopes of government spending, bank deregulation, and fat profits for Big Pharma, the stock market hit record highs today:

The moves partly reflected expectations that a Trump administration would push to scale back financial regulation and increase government spending in a bid to boost economic growth….Thursday’s gains came as the president-elect’s transition team promised to dismantle the Dodd-Frank law, regulation that came out of the financial crisis….Pharmaceutical companies also jumped, with some analysts and investors saying drug-pricing restrictions would have been more likely under Democrat Hillary Clinton. Health-care companies had sold off sharply heading into the election.

JP Morgan Chase and Goldman Sachs were big winners today. And bonds are doing well on expectations of higher inflation under Trump. This is all certainly good news for rich people, but I wonder what Trump has in mind for all those rural working-class whites in Michigan and Wisconsin who put him over the top? Oddly, Wall Street doesn’t seem too worried that he’ll do anything at all for them.

HERE ARE THE FACTS:

Our fall fundraising drive is off to a rough start, and we very much need to raise $250,000 in the next couple of weeks. If you value the journalism you get from Mother Jones, please help us do it with a donation today.

As we wrote over the summer, traffic has been down at Mother Jones and a lot of sites with many people thinking news is less important now that Donald Trump is no longer president. But if you're reading this, you're not one of those people, and we're hoping we can rally support from folks like you who really get why our reporting matters right now. And that's how it's always worked: For 45 years now, a relatively small group of readers (compared to everyone we reach) who pitch in from time to time has allowed Mother Jones to do the type of journalism the moment demands and keep it free for everyone else.

Please pitch in with a donation during our fall fundraising drive if you can. We can't afford to come up short, and there's still a long way to go by November 5.

payment methods

ONE MORE QUICK THING:

Our fall fundraising drive is off to a rough start, and we very much need to raise $250,000 in the next couple of weeks. If you value the journalism you get from Mother Jones, please help us do it with a donation today.

As we wrote over the summer, traffic has been down at Mother Jones and a lot of sites with many people thinking news is less important now that Donald Trump is no longer president. But if you're reading this, you're not one of those people, and we're hoping we can rally support from folks like you who really get why our reporting matters right now. And that's how it's always worked: For 45 years now, a relatively small group of readers (compared to everyone we reach) who pitch in from time to time has allowed Mother Jones to do the type of journalism the moment demands and keep it free for everyone else.

Please pitch in with a donation during our fall fundraising drive if you can. We can't afford to come up short, and there's still a long way to go by November 5.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate