I am back after a week away from the site. Politically, it was a pretty eventful week. On the economy and market side, it wasn't as dramatic. But I do have a few thoughts to start the week on what's relevant.
1. Sentiment shift on Mueller investigation of Trump
I think the Cohen guilty plea was a big deal in the Trump - Russia investigation. It's been five days now but I think my initial reaction about the plea deal is right. It won't have any bearing on the economy. And it won't have any bearing on the market. People overestimate how much politics impacts the economy. This is mostly political.
But, on the political front, it's big news. Basically, Michael Cohen was the Trojan horse to investigating Trump's entire business empire. We see that now, with the immunity deal Trump CFO Allen We...
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.