The Costanza Administration

There was an episode of Seinfeld where George realized that every decision he had ever made was wrong, so he was going to do the opposite of whatever his first impulse was. Any trader has entertained the thought at some point. The President of the United States should not attempt to run the country by the Costanza Rule, however. In domestic, foreign and now monetary affairs, the Administration is implementing a Policy of Serendipity, a series of happy accidents evaluated only in terms of the resulting net change on the S$P or the 10 year Note. The grade scale is up = good if you've just tuned in.
Eventually, the reality that you just don't know what you're doing catches up with the Serendipitous. Foreign policy can't be calibrated to a slip of the tongue. Monetary policy isn't a series of trial balloons floated over the market. Domestic policy will not be successful when corporations and citizens have no idea what's being hefted on them. The Administration is using the same process that led George to order the clams casino at Monk's Diner. Spoiler alert - it's a bad idea even if the initial reactions are ok.

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