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znModeratorJourdan Rodrigue@JourdanRodrigue
Rams WR Cooper Kupp: I don’t think we need to reinvent the wheel here; it’s just about diving into the details…I don’t believe (the bye week) is a re-set, it’s about dialing in.Mike Sando@SandoNFL
Two #NFL teams have yet to finish a single game this season on the good side of zero for defensive EPA.The #Jaguars and #Seahawks are those teams.
Seth Walder@SethWalder
Top 5 outside corners in completion percentage over expectation allowed, per NFL Next Gen Stats.Xavier Rhodes -13%
Xavien Howard -11%
Jalen Ramsey -8%
Kyle Fuller -7%
Carlton Davis -7%(Min. 150 coverage snaps, at least 70% at outside CB)
Stu Jackson@StuJRams
Rams LB Kenny Young says defense right now is “lightyears” ahead of where it was compared to training camp.Young also said DC Brandon Staley showed them clips of 7-on-7 work from training camp to show how tangible their progress has been and how good they can become.
Mentioned in September about a healthy Havenstein being key to reviving run game – when he played in all 16 games in ’18, he had the highest run-block success percentage of any OT per PFF. Rams finished w/ the No. 3 rushing offense in the NFL that same year (139.4 yds/gm).
znModeratorRams designate Jordan Fuller to return from IR https://t.co/7hYXPBbuNQ
— Rams Wire (@TheRamsWire) November 9, 2020
znModeratorThis is a video. I don’t know if I can embed it, so here’s the link. I hope this works.
Link works. Vid is there. Poor reporter in a sea of delusionals.
znModeratorFirst-half reflections and midseason awards
J.B. Long
https://www.therams.com/news/first-half-reflections-and-midseason-awards
Most Valuable Player – Aaron Donald, DT
He put together another four-sack performance in a win at Washington. He’s the top-rated defender in the league, according to Pro Football Focus. And he’s coming off a career-high grade against Miami.
But just as he wrecks game plans, Aaron Donald also spoils the fun of awards season. So let’s give him the top honor then exclude him from the rest of this column, so that others may participate.
Here are the rest of the Rams 2020 POTFHs (Players of the First Half).
Defensive – Jalen Ramsey, CB
His coverage skills speak for themselves. How about his hits?
Amari Cooper felt his presence in the opener. Kyle Allen was knocked out of the contest in Washington. Golden Tate got his serving at SoFi Stadium. And against the Bears, Javon Wims’ progress was suspended short of the line to gain.
Honorable Mention: Darious Williams has more than held his own across the field as opponents shy away from Ramsey. Where would L.A. be without his diving interception at Philadelphia or equally sensational game-clinching pick versus New York?
Offensive – Andrew Whitworth, LT
38-years-young and playing some of the best downs of his career.
If the offensive line took the fall for the Rams 2019 regression, then their marked improvement has to be the offensive story of the first eight games. Whitworth is the driving force behind it all, as the whole room (and team) takes its cue from him.
Special Teams – Johnny Hekker, P
The lone bright spot in the third phase, thank goodness for all the watermelons Hekker has planted inside the opposing 10-yard line.
Most Improved – Austin Corbett, G and Darrell Henderson, RB
Hate to split the vote, but these two go hand-in-hand, anyway.
As the highest-drafted lineman on the roster, Corbett is proving to be a “steal” relative to the fifth-round selection the Rams sent to Cleveland for his services. Aaron Kromer and Sean McVay have turned his career around, and likewise, he’s stabilized a tumultuous right guard position for L.A.
Meantime, Henderson saw the Rams use their top pick in this Draft on Cam Akers and effectively said, “Not on my watch.” Refusing to cede reps as the number one running back in the NFL according to Pro Football Focus, Henderson has helped this offense thrive despite moving on from Todd Gurley, to the point they’ve become the most efficient running game in the NFL.
Rookie – Jordan Fuller, S
It speaks volumes about the impact that Fuller’s had that he takes this honor handily, despite missing essentially five full games (he only played the first eight snaps at Buffalo).
The breakout star of training camp has become a starter the Rams can’t wait to get back from the injured list after the break.
Comeback – John Johnson, S
Our friend and colleague Kirk Morrison was sharp to pick to Johnson as his defensive POTFH on this week’s Between the Horns. It’s bittersweet to see this fan favorite return from a 2019-ending shoulder injury with a great first half, only because of the fear he’ll price himself out of next year’s roster given the skyrocketing values of high-end safeties.
znModeratorDaniel Jeremiah@MoveTheSticks
According to @PFF, the Seahawks were in cover 0 for 11.8% of their snaps & cover 1 for 33.8% of their snaps vs BUF. That’s WAY too much man coverage for that secondary.’Gil Brandt@Gil_Brandt
Most passing ypg allowed in a single season, Super Bowl era:2020 Seahawks 362.1
2020 Falcons 310.3
2011 *Packers 299.8
2015 Giants 298.9
2012 Buccaneers 297.4*Went 15-1 and lost in first-round of the playoffs
Gil Brandt@Gil_Brandt
Yesterday was only the second time Seattle has allowed 40+ points in a game in the last 9.5 seasons. Pass defense is the culprit: The Seahawks are on pace to set the NFL record for most passing ypg allowed in a single season in the Super Bowl era.Gregg Rosenthal@greggrosenthal
It’s wild that 1 loss separates the NFC’s No. 1 seed Saints from the No. 7 seed Rams.SeattleRams@seattlerams_nfl
The Rams are sitting at the 7 seed in the NFC right now, but are tied with the Saints with the best conference record at 5-1.With their next four games all in conference (and 3 in the division) this would be a nice time to go on a little run.
znModeratormerlin
People keep getting wowed by Hendy but he’s a change of pace back at this level. Akers is going to be the bell cow and once that happens this offense is going to look drastically different and more consistent.
The WCO has always had a far higher dependency on the run game than people realize. McVay’s offshoot scheme is no different and in fact even more dependent since he likes to take shots and stretch the field vertically.
Once Akers settles down the offensive backfield and Jefferson replaces Reynolds this offense will settle in.
McVay will have Goff check to pass if they’re stuffing the box like usual. And if they come with zero blitzes Goff will actually use his outlets and execute the scheme correctly.
Rams will still run the ball just like they did vs Miami. McVay always keeps his offense balanced, it’s up to the players to execute and take advantage of a poor Seattle defense and I see no reason to think they won’t succeed.
He’ll also have “refreshed” route combos in particular the hots. To ensure Seattle can’t blindly follow what Miami did. If Seattle tries to bring a zero blitz the Rams will be ready and Goff will burn them.
Defense has far exceeded expectations. Staley has done a great job of disguising weaknesses. Only poor game was Buffalo and some of it was freakish QB play and scramble drill. His anticipation in scheme is fantastic. He knew that teams would want to attack that right side when Rapp was in there and simplified things for him by moving Hill out and playing Ramsey and sometimes Williams on an island. The guy is for real. Most DCs you’d see those changes over several games and in the mean time that weakness would be exposed but this guy is a step ahead and teams and owners know it.
I love this defense man. Can’t wait to get Fuller back and when that happens we’ll see more dime with Rapp up there next to Kiser and we’re gonna see this unit really settle in for the stretch run.
IMO our weakness is speed in the front 7 and mainly at LB (and when we go dime being able to stuff the run). So the Seahawks loom as a huge test. Can’t wait to see how this defense does. If this really is a top defense they can win vs the Seattle offense and keep their points down. Great defenses do that. So it’s a good test either way.
I think Metcalf gets doubled/a lot of attention of course, and Ramsey goes on their 2. But Staley is an interesting dude in his strategy so we’ll see.
Seahawks’ defense is abysmal. It’s the only poor defense we face in this stretch of games
znModeratorNFC Roundup: Rams have near perfect bye week, could be in first place soon after Seahawks, Cardinals lose. The top seed in the NFC isn’t far off either after the Saints blew out the Bucs. https://t.co/AYaskudZYs
— TurfShowTimes (@TurfShowTimes) November 9, 2020
znModerator“You can make the case that regression is here, and it’s here in a big way.”
What's up with #Eagles QB Carson Wentz?
I spoke with experts like Brian Billick, Ron Jaworski and Danny Kanell to get some answers on Wentz's struggles this season:https://t.co/vRfqofMTD2
— Mike Kaye (@mike_e_kaye) November 9, 2020
znModeratorMike Tomlin ties record with 14 straight non-losing seasons to open coaching career https://t.co/XQFPCmq8Xo
— ProFootballTalk (@ProFootballTalk) November 9, 2020
November 9, 2020 at 10:33 am in reply to: press & others (including McV) set up the Seattle game #124081
znModeratorThe Seahawks are allowing 362 passing yards per game, which is ~52 MORE than any other team in the NFL.
Jared Goff, now is the time to get back on track https://t.co/mFSr46xQQd
— Cameron DaSilva (@camdasilva) November 9, 2020
znModeratorDemocratic leaders play a ridiculous blame game with progressives
If a football coach went into a game saying “we’ll rely on passing the ball,” executed that strategy, lost the game, then blamed the loss on running the ball, everyone would laugh at that coach. And yet that’s exactly the approach Democratic moderates are taking after Tuesday’s disappointing House and Senate results: Reject progressives’ suggestions, then blame those suggestions anyway for their failures.
Remember, from the Democratic primary onward, party leaders warned against running on Medicare-for-all, a Green New Deal and other progressive ideas. That approach, they said, would lead Democrats to lose states such as Florida. (About that…) Instead, Democrats went small, focusing on saving the Affordable Care Act and providing a check on President Trump.
But after the party lost House seats and failed to retake the Senate, the knives are out for the left anyway. On a House Democrats conference call on Thursday, party leaders and moderates blamed their failures on progressives. Majority Whip James E. Clyburn of South Carolina warned against running on defunding the police or socialized medicine. (Since 2007, Clyburn has collected more than $1.2 million from pharmaceutical PACs, among the most of anyone in Congress.) The attacks were best summed up by Rep. Abigail Spanberger (D-Va.): “We need to not ever use the word ‘socialist’ or ‘socialism’ ever again. … We lost good members because of that.”
Spanberger’s view was echoed by Sen. Mitt Romney (R-Utah) on “Meet the Press”: “I don’t think the American people want to sign up for the Green New Deal. … I don’t think they’re interested in Medicare-for-all or higher taxes that would slow down the economy.” But this diagnosis is at odds with the numbers. A near-majority of voters in swing districts supported the Green New Deal. Fifty-three percent of Americans support Medicare-for-all (and 70 percent support a public option). In exit polls, 57 percent of voters expressed support for Black Lives Matter. In Florida, while moderate Democrats up and down the ticket fell flat, voters passed the $15 minimum wage that the left has been pushing for years. As Rep. Alexandria Ocasio-Cortez (D-N.Y.) observed, every swing-district House Democrat who co-sponsored Medicare-for-all kept their seat.
Yet even if we assume that these polls and results are all misleading, as Ocasio-Cortez pointed out on CNN on Sunday, “not a single member of Congress that I’m aware of campaigned on socialism or defunding the police.” It’s understandable that congressional Democratic leaders want to blame something other than their own candidate recruitment process. But if a candidate didn’t run on defunding the police, yet still couldn’t avoid being tied to “defunding the police,” that’s the candidate’s fault. If a candidate ran on reaching across the aisle, yet got defined as a socialist, that’s the candidate’s fault. And if that candidate couldn’t manage to tie his or her Republican opponent to almost a quarter of a million covid-19 deaths in the United States, a tanked economy or a dozen other policy fiascos, at least one of which was probably directly relevant to the candidate’s district, that’s the candidate’s fault.
And it’s the fault of a party that is far behind the times when it comes to campaigning online. During the George W. Bush presidency, Democrats dominated the digital space: Forums and blogs (the so-called Net roots) gave the party an edge in both advertising and organizing. But in 2020, sites like Facebook and (especially) YouTube absorb Americans’ attention spans, regardless of affiliation. Yet Democrats are still playing catch-up from 2016 on the former and have barely begun to mobilize on the latter. Progressives such as Ocasio-Cortez have built their brands in this new online space with techniques the whole party could learn from. Yet leadership has all but ignored their successes.
Offline, things are little better. Black, brown and working-class voters delivered Joe Biden the presidency; the hard work of turning out those voters wasn’t done by the national party this year, but by grass-roots organizers over many years. Stacey Abrams, whose 2018 Georgia gubernatorial campaign cemented the organizational groundwork that turned the state purple this cycle, noted on CNN that “for minority communities, there has to be consistent engagement.” Running away from Black Lives Matter and real health-care reform is the opposite of that approach.
This is not to say there is a one-size-fits-all approach to contesting 100 Senate seats and 435 House seats. But it is simply false to claim that standing up proudly for policies such as Medicare-for-all and a Green New Deal hasn’t worked, when the truth is it hasn’t been tried. For decades, congressional Democrats have run every cycle with a moderate message engineered by moderate, high-priced consultants. When this plan succeeds, the party establishment trumpets their wisdom. Yet when it more frequently fails, the leadership and moderates blame the progressives they rejected the entire campaign. It’s a “heads we win, tails you lose” approach, and it’s a farce. Until congressional Democrats stop punching left and start fixing their mistakes, more disappointments are sure to follow.
znModeratorBy calling Biden a moderate REPUBLICAN is no different than calling him a communist.
He’s not a communist. None of his ideas, beliefs, policies, or political programs match anything remotely like communisim.
His ideas, beliefs, policies and political programs do match those of moderate republicans like the 2 Bush presidents.
znModeratorBut just the fact progressives have to fight another decade to get something the rest of the world has had for ages, says a lot about the Corporotacracy.
Remember when we were on one of the first incarnations of this board and discussing Obama and Clinton and the dem. primaries? Back then discussing M4A (which wasn’t even called that then) was like having a conversation about Latvian medieval history. Very few people were in on that discussion. A lot of what we discussed was ground-breaking. And now? Biden has to openly declare he’s against it. So it’s on the menu. It may take 10 years but more than 10 years ago, it wasn’t even comprehensible discussion to a lot of people.
znModerator4 Rams who deserve bigger roles in 2nd half of season https://t.co/lsOmklpHfm via @theramswire
— RamsNewsNow (@RamsNewsNow) November 9, 2020
znModeratorBefore there can be any real progressive movement in this country they have to let the following sink in: Over 40 million people in this country think Biden is either a socialist or a communist.
There is a real progressive movement in the country. In terms of what voters want, when polled, they identify with progressive positions, too. It is also true that unlike more advanced democracies (in Europe for example), the USA is still dealing with good old-fashioned red scare tactics. But I will say this. People who warn us about that kind of thing actually reinforce those tactics. Sometimes I even think that’s the point.
znModeratorJohn Kasich: "The Democrats have to make it clear to the far left that they almost cost him this election." pic.twitter.com/gp4CqBf5Mz
— The Hill (@thehill) November 8, 2020
znModeratorSeattleRams@seattlerams_nfl
The Miami Dolphins might be the best team in the NFC WestJ.B. Long@JB_Long
Rams could not have asked for more from the bye week, with SF, SEA, and ARI all falling.Can’t wait to see if they can capitalize in the second half. First place on the line next week at SoFi Stadium.
Cameron DaSilva@camdasilva
Dolphins are…good? They’re no joke at 5-3, and the Rams’ loss looks less bad nowSteve Wyche@wyche89
Dolphins win fourth straight to improve to 5-3 and equal last season’s win total. Tua was excellent and Chan Gailey called an excellent game. They have something real going on in MiamiAlbert Breer@AlbertBreer
And the AFC East standings look like it’s 1992.• Buffalo 7-2
• Miami 5-3
• New England 2-5
• NY Jets 0-8ProFootballReference@pfref
Kyler Murray is the first QB in NFL history to throw 25+ times, have a passer rating of 150+, and lose the game
znModeratorNFL Research@NFLResearch
Josh Allen is the 1st QB in the Super Bowl era with 400+ pass yds, 3+ pass TD, 0 INT & a 130+ passer rating in multiple games in a seasonTom Brady, Peyton Manning, Drew Brees, Aaron Rodgers & Patrick Mahomes are the only other players with multiple such games in their careers
NFL Stats@NFL_Stats
Patrick Mahomes is now the fastest QB in #NFL history to 100 passing TDs (40 games), breaking the previous record held by Dan Marino (44 games)
znModeratorDan Orlovsky@danorlovsky7
What was obvious today in the @BuffaloBills & @Seahawks game is how much Daboll and Frazier out-coached Schottenheimer and Norton—an absolute coaching beat down by Buffalo!Frank Schwab@YahooSchwab
The Seahawks defense is a problem. If it doesn’t get better, it’s going to cost them a shot to make a deep playoff run, and it might cost Russell Wilson an MVP too. Though he had his own issues on Sunday.
znModeratorJason La Canfora@JasonLaCanfora
Josh Allen and the Bills off to quite the start. Rare red zone pick from Russ. One way traffic in that game so farNovember 8, 2020 at 12:41 pm in reply to: Just a thread for different kindsa interesting things #124039
znModeratorThis happened just a few days ago.
It’s hard to describe how powerful that show was in connecting people.
What a life. RIP, Alex Trebek. pic.twitter.com/So6tXuv7IY
— Josh Graham (@JoshGrahamRadio) November 8, 2020
znModeratorZN, do you mean someone other than Booker? Apologies in advance if this is something I’ve just missed, but I thought he was firmly entrenched in Jersey politics.
He meant Charles Booker. Slip of the keyboard.
Yes thanks for the correction. Though it was more of a braincell slip. I meant Charles Booker.
znModeratorI might watch Arizona. If it isn’t the Rams, I am not too interested. Maybe I would like to Dallas get the shit beat out of them?
Seattle and Buffalo too.
znModeratorOn the other hand.
(I am being dialectical today.)
.
==

znModeratorOne thing I’ll say: for the last two years, I and progressive candidates have been unseating powerful Dem incumbents supported by DCCC.
Not *once* has anyone in the party asked me what weaknesses I’ve found in their operation.
This gets us to a (by now) old theme.
The mainstream dem party machine courts republicans and absolutely fights against its own progressive wing.
Tells us everything we need to know about the dem party machine…in case we didn;t know already.
And of course courting republicans does not work and neither does open warfare against its own progressive wing.
Example: there’s strong evidence Cory Booker would have beaten McConnell or at least had a much better chance than that bleached dishrag the dem party machine backed (McGrath).
…
Hot damn, AOC spits so much fire in this interview. https://t.co/LTqCEJnFLW pic.twitter.com/Hof3ysbhdc
— David Roberts (@drvox) November 8, 2020
znModeratorOne thing I’ll say: for the last two years, I and progressive candidates have been unseating powerful Dem incumbents supported by DCCC.
Not *once* has anyone in the party asked me what weaknesses I’ve found in their operation.
This gets us to a (by now) old theme.
The mainstream dem party machine courts republicans and absolutely fights against its own progressive wing.
Tells us everything we need to know about the dem party machine…in case we didn;t know already.
And of course courting republicans does not work and neither does open warfare against its own progressive wing.
Example: there’s strong evidence Cory Booker would have beaten McConnell or at least had a much better chance than that bleached dishrag the dem party machine backed (McGrath).
…
…
znModeratorI give them not only credit but also courage for their support.
I don’t see much courage there. Not that it’s the opposite either. Just pragmaticism. That’s not a put down aimed at the progressive dems you list–I have nothing but respect for them. I know many leftists can be very hardcore about how the republicans and democrats are not that different, and frankly, in most cases I agree with that. This election was different though. As a progressive I am pretty clear on Biden’s limitations, and yet, to me Trump was just THAT bad…so no argument from me there.
znModeratorAnyway, this is the first time Ive actually watched the Corporate-Network-Pundits in many many years. I had forgotten what they are like. It…is…APPALLING how they ALLLLLLLLLLLL sound like David Gergin. He’s the smooth, soothing, civil, moderate-republican from PBS. I mean they ALLLLLLLLLLL push moderate-republican/Dem-Centrist strategies. ALLL of them.
As you probably know I have not watched any tv news for at least a couple of decades. It’s for the reasons you put so well right there. But then the other night, mon spouse wanted to watch election returns. So the news came on and I tried to sit through it. She ended laughing and turning the tv off because I kept yelling back at the pundits and their pundit platitudes. Mostly for the reasons you describe there. I viscerally could not stand it. I just turned into Monty Python’s annoying peasant from the Holy Grail.
Arthur: Well I *am* king…
Man: Oh, king, eh, very nice. And ‘ow’d you get that, eh? By exploiting the workers! By ‘angin’ on to outdated imperialist dogma which perpetuates the economic and social differences in our society. If there’s ever going to be any progress,–
znModeratorTrump spent years worrying about the stock market only to discover Wall Street doesn’t care if he loses
Wall Street was fine with a Donald Trump presidency. Turns out it’s good with a Joe Biden presidency, too.https://www.vox.com/2020-presidential-election/21552643/stock-market-election-results-reaction
Joe Biden is president-elect, and Wall Street mostly feels fine about it.
Investors learned to ignore Donald Trump’s erratic tweets over the last four years and focus on deregulation and tax cuts. And now that his presidency is coming to an end, Wall Street appears to be putting on blinders yet again and brushing off the president’s flailing attempts to cast doubt on the election outcome and stay in power.
The market was good with Trump entering the White House four years ago. It’s good with him leaving it four years later, too.
For years, Trump has taken credit for the stock market’s performance — at least when it’s up. In the lead-up to the 2020 election, he consistently claimed that if he were to lose, stocks would plunge. “If I don’t win, you’re going to see a crash like you’ve never seen before,” he told business leaders in February. Vote for him, he said, or 401(k)s were “down the tubes,” would “disintegrate and disappear,” could be kissed goodbye.
But this week has been a decent one for 401(k)s. Stocks were up Wednesday and Thursday as a Biden victory grew nearer. They dipped slightly Friday, but indexes were mainly flat as investors also digested the October jobs report and the ongoing global pandemic. Wall Street is on track for its best week since April.
It turns out the market is impossible to predict — even for the president of the United States.
A view of the exterior of the New York Stock Exchange on November 4. Kena Betancur/AFP via Getty Images
By and large, Wall Street’s reaction — or, rather, lack thereof — to the 2020 US election has been pretty positive, with markets nowhere near tanking. President-elect Joe Biden is set to be installed in the White House, an outcome that has been relatively clear since Wednesday morning. Democrats have kept the House of Representatives, but it seems pretty unlikely they’ll take the Senate, unless they win two Georgia runoff races in January.Liberal voters seem quite upset Sen. Mitch McConnell is likely to retain power; investors seem to have no such qualms. Sure, they’ll miss out on a big stimulus package or an infrastructure bill a blue wave could have brought with it. But a Joe-Mitch combo also means higher taxes aren’t coming, the trade situation might be easier, and no more wild tweets from the Oval Office.
“Can you imagine not having to check your tweet file in the morning to see how your stocks are doing?” CNBC’s Jim Cramer said on Squawk on the Street of a potential Biden win on Thursday. “Washington is going to be so boring. The most exciting thing that’ll happen is they’ll finally come up with a name for the Washington [Football] Team. They are going to be so not a part of our existence. It’s joyous.”
Wall Street was worried about a contested result, but it didn’t turn out to be so bad
Ahead of the election, Wall Street insiders’ biggest concern wasn’t really a Trump win or a Biden win. They even got excited about a potential blue wave. The real concern was Election-Day chaos and a contested result where there was no clear answer.
“We’re kind of preparing for Armageddon on November 3,” one senior vice president at a major quant firm, who asked for anonymity in order to speak freely about the matter, told Vox ahead of the election.
On Thursday, as votes in multiple states continued to be counted and the president baselessly claimed victory and election fraud, I checked in with the same person. Their take now: “I think the general feeling is the uncertainty is annoying, but if the crazy thing was going to happen, it would have happened. So back to business as usual.”
“INVESTORS WHO WANTED TRUMP TO GO BUT WANTED SOME OF HIS POLICIES TO STAY WILL HAVE THEIR CAKE AND EAT IT, TOO”
By and large, Trump is just shouting into the void as most voters, the media, lawmakers, and, yes, Wall Street go about their lives.
“People came in prepared for it to be kind of rough. There hasn’t been any widespread, worrying unrest,” said Dan Egan, managing director of behavioral finance and investment at Betterment. “There’s no catch-fire point or really big thing for anybody to worry about. The slow trickle is good in that it doesn’t allow anybody to get too worried about one specific data point.”
None of this is to say that things couldn’t change. Trump and the Republican Party have started to file lawsuits in multiple states trying to stop vote-counting, challenge results, or otherwise meddle in the process, though it’s not clear their legal strategy will be particularly successful. The same goes for the president’s Twitter strategy as he continues to tweet away, making false claims about fraud and the election being stolen. Thus far, much of the country just isn’t that unsettled by this, nor are the markets — even though, undoubtedly, the idea of a president who refuses to concede an election is disturbing.
Joe Biden is not Elizabeth Warren
“Remember all the talk about a financial transactions tax, an Elizabeth Warren-driven crackdown on private equity, and even the possibility of breaking up the big banks?” wrote Ian Katz, director at Capital Alpha Partners, in a note on Wednesday. “We were very skeptical of any of that happening even if Democrats had won the Senate. Now you can just take it completely off the table.”
Presidents generally don’t have that big of an impact on markets in the first place — plenty of things move certain instruments, sectors, and stocks all the time. Sometimes there’s no clear explanation for what’s going on at all. Generally, Trump has been pretty favorable to markets because of tax cuts and a deregulatory bent. A Biden presidency will certainly be different from Trump, but it doesn’t at all spell doom for Wall Street.
Josh Barro, a business columnist at New York magazine, offered up a pretty compelling explanation of the market’s reaction to the election in anticipation of Biden in the White House with McConnell still in control of the Senate. The scenario is basically a steadier one: eased trade tensions with China, the tax landscape without significant change, and a guy in the Oval Office who isn’t so trigger happy on social media. Senate Republicans are also probably going to be pretty choosy about who they confirm as Biden’s Cabinet nominees, meaning no Warren for Treasury or Katie Porter for head of the Consumer Financial Protection Bureau or Bernie Sanders for Labor.
“Investors who wanted Trump to go but wanted some of his policies to stay will have their cake and eat it, too,” Barro wrote.
Despite his working-class roots, Biden was Wall Street’s preferred candidate in the 2020 primary, especially compared to Warren or Sanders. And the investor class wasn’t exactly Biden-averse in the general election — there were plenty of Wall Street names on the list of fundraisers his campaign released days before the election.
Leon Cooperman, a billionaire hedge funder who issued dire warnings about a potential Warren presidency during the 2020 primary and at one point was brought to tears on television about the thought of her in the White House, wound up voting for Biden. “I voted my values and not my pocketbook,” he told CNBC on Wednesday. He said he believes Trump is an “interventionist” and not a capitalist in his attempts to influence the economy — trying to talk the price of oil up and down, leaning on the chairman of the Federal Reserve to make decisions in his favor. “At the end of the day, I made a personal decision that I would rely upon 337 members of Congress and 100 US Senators to decide whether the country will remain capitalistic in its orientation or go socialist,” he said.
What is fine for Wall Street is not always fine for everyone else
On Wednesday, the day after the election, shares of Uber and Lyft soared after California voters passed Proposition 22, which exempts companies that rely on gig workers from having to classify them as employees instead of independent contractors. It’s a win for Uber and Lyft and their shareholders — Uber’s CEO has said they’re going to advocate for more things like it. It’s a loss for Uber and Lyft drivers hoping for benefits and protections.
There are certainly things about the upcoming political landscape that are going to be good for both Wall Street and for ordinary people. A key element of the economy improving is getting the Covid-19 pandemic under control, and there’s little doubt Biden will do more to try to combat the pandemic than Trump will. At the very least, Biden will not actively spread it, and at some point, a vaccine will likely arrive.
The economy is getting better slowly, but there are still a lot of unknowns. The October jobs report pegged the unemployment rate at 6.9 percent and was generally positive; however, 10 million jobs remain lost from before the pandemic, and the recovery is slowing. It’s also happening unequally: People at the top are doing much better than those at the bottom. The Black unemployment rate is still in double digits.
In recent months, Wall Street appeared to have been banking on further stimulus from the federal government to follow up the CARES Act, the $2.2 trillion stimulus President Trump signed into law in late March. Election Day came and went without legislation, and it’s not clear if or when a follow-up will come. At the very least, any package is likely to be much smaller than it could have been had there been a Democratic sweep.
Joe Biden speaking from a podium as Sen. Kamala Harris stands 6 feet away. Drew Angerer/Getty Images
The markets seem to, at least for now, be okay with the idea of a smaller stimulus. Plus, Federal Reserve Chair Jay Powell has taken enormous steps to help support the markets and seems poised to do whatever it takes going forward. For people who lost their jobs or state and local governments facing disastrous budgets or small businesses struggling to stay afloat, further aid is much more vital. A sweeping stimulus package would have made a real difference, and it’s not coming.“Without additional relief, we really will see a longer, slower, more painful recovery, and one that will disproportionately inflict deep harm on communities of color,” Angela Hanks, deputy executive director of the progressive group Groundwork Collaborative, recently told Vox.
The road ahead for the economy — and for the markets — is anything but sure. Covid-19 cases are skyrocketing in the US, and the situation is likely to get worse, not better, before Biden takes office. Trump’s shenanigans to undermine the results of the election could last for months. The economy could backslide. The country could still see election-related unrest. And the markets move for a ton of different reasons day to day and hour to hour.
Trump has tethered much of his presidency to the stock market, not only in pointing to it as a measure of success but also considering it in his political and policy decisions. His administration reportedly downplayed the pandemic in order to avoid spooking the stock market. He has consistently tried to shape economic and policy choices so as to keep markets riding high.
As the saying goes, if you need a friend on Wall Street, get a dog. Or at the very least, don’t look to Dow.
znModeratorChecking in on the 2020 Draft Class at the bye 🔍
— Los Angeles Rams (@RamsNFL) November 7, 2020
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