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In Moment Of Brutal Honesty, JPMorgan Says Economic Disaster And More Lockdowns Will Be Great For Stocks

After reading months of ridiculously goalseeked Wall Street commentary, where first a Trump victory was the best outcome for stocks (at a time when Trump was seen as a favorite to win), then a Biden victory becoming the best-case outcome for risk assets (this predictably emerged around the time Biden took a lead in the polls), then a Blue Wave emerging as the most bullish outcome (around the time a Democratic sweep became the most likely outcome according to polls), and then following a brief detour when Wall Street briefly freaked out about Congressional gridlock when a split Congress suddenly became an all too real possibility, we went full circle and a Trump victory once again became the most bullish outcome (according to JPMorgan), traders and analysts would simply roll their eyes and snicker whenever a new “scenario” emerged from Wall Street’s strategy desks.

There was a simple reason for that: as One River’s Eric Peters explained earlier, ever since the arrival of MMT in March, the simple reality is that for stocks it no longer matters who is president, to wit:

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