Recently, a reporter called to ask my thoughts about the ongoing scandal in Washington surrounding former FBI Director Jim Comey, the Russians and the White House. Is it enough to cause the stock market to crash? In so many words, my response was simple: “only if it causes a slowdown in economic activity and a corresponding drop in corporate profitability. Absent that, long-term, no.”
Obviously, his follow up question was whether the turmoil would put the Administration’s tax reform proposals in jeopardy on Capitol Hill. Basically, would the rest of the GOP jump from a sinking ship, or something along those lines? That was fair enough, and I hope my response was as well: “I have a better chance of being named Pope by Christmas than that package has of getting through the Congress as is.” Not surprisingly, that quote didn’t make it into his column.
In truth, I probably came across as amazingly cavalier, and we will see if he calls me again anytime soon.
(Read the full article as previously published in the Montgomery Advertiser on May 23rd, 2017)