While the stock market is reacting to dollar strength on Tuesday, there will be another force hitting the economy later this year.
You are beginning to see this force in the large numbers of resignations in business and politics.I have found a Google Doc that lists all the resignations. Since Sept.1, 2017 the document lists some 1,080 people who either agreed to step down or were fired outright along with a few deaths.
Now I don’t have a comparable time frame to say this is extraordinary number of executive changes. However, with the #MeToo movement, I would think the 1,080 executive changes could be very high.
Some of the bold face names on this list include:
- Desmond Tutu from Oxfam, a charity organization
- Eric Schimdt from Alphabet (Google parent)
- Tony Podesta from lobbying firm he co-founded with brother.
- Steve Wynn (casino owner)
- John Conyers, member of House of Representatives
- Meg Whitman CEO of HP
That is just a few that I picked out of the list. Looking to the future I believe we will see many more executives and politicians stepping down “to spend more time with the family.”
The revelations that will come out may be even more horrifying and encompassing than the #MeToo movement. The executive churn and political instability will certainly have an effect on the stock market.
