The media has officially called the election for Joe Biden, despite the fact he has yet to actually win anything.
As I’ve noted previously, unless President Trump formally concedes, Joe Biden is NOT the President elect until December 14th at the earliest (that’s when states formally cast their electoral college votes).
Note that the words “media” are not used anywhere in the above paragraph. The media has no say in how elections turn out. And similarly, they have no idea what they’re talking about in terms of who will ultimately win the election.
I say this because the media has begun to claim that every market rally is due to Joe Biden saying or doing something. The media is literally acting as though Biden is now directing the stock market as President of the United States.
But the global markets actually say otherwise.
Regardless of your political affiliation, I believe that practically everyone can agree that President Trump was the first anti-China President in the last 40 years. He most certainly was more anti-China than Joe Biden, who was openly critical of President Trump’s trade war and tariffs.
And then of course, there is the fact that the Biden family has received millions if not billions of dollars in financing from Chinese business and government-linked entities over the years.
With that in mind, I want to point out that China’s stock market is struggling to make new highs. It initially exploded higher the day after the election when the media called the win for Joe Biden (blue circle), but since that time, it’s basically flatlined (red circle).
If Joe Biden was definitely winning the Presidency, which would mean an end to the Trade War between the U.S. and China, shouldn’t China’s stock market be exploding higher?
With that in mind, I stand by my original forecast that President Trump will end up winning this election. And our clients are already preparing for this with our new special report titled…
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Chief Market Strategist
Phoenix Capital Research