I don’t hate to tell you I told you so.
For the past two weeks, I have said that the pollsters have it wrong. They do not take into account voter anger. They assume a slightly dispassionate electorate going to the polls to vote.
Not this time.
There was anger and frustration at a Democratic Party that has done nothing for the American people. The economy has been limping along for the past eight years under the Obama Administration and the majority of Americans are tired of treading water.
Presidential hopeful Hillary Clinton offered little hope and change for these Americans who have seen good jobs leave to be replaced with lower paying, little benefits service area jobs in retail or home health care.
No this election night was about taking back and Donald Trump was the vehicle to do that.
One clear indication that the fat cat party may be coming to an end was the futures action in the stock market. Early on the Dow Jones index futures was up 200 or so points as the votes started pouring in, but by 10 pm in the east, they hit -800 points as large Investors started having temper tantrums.
At 5 am the Dow futures are off 276 points or 1.5% as clarity begins to settle in.
The bond market, or as I call them the adults in the markets, sold off hard on the longer end with the 10-year note approaching 2.95% yield.
Don’t get me wrong a Trump White House will not be a panacea for what ails America, but it should at least have a better plan for fixing some of the malaise felt here in the US.
With Republicans now holding the White House and both houses of Congress it will be interesting to see how quickly they will move on a host of economic and monetary issues.
Remember Trump is not beholden to the party as it walked away from him time and time again during the campaign.
I’ll have more on this, but suffice it to say, Federal Reserve chief Janet Yellen should look for a new home in Cambridge, Mass.