Ebb Tide

The tide comes in. The tide goes out.

Yesterday, the Trump tide ebbed a bit when Democrats won the governorships in Virginia and New Jersey ... as well as a number of lesser posts in mainly blue states. This AM the lighting on "Morning Joe" has been dimmed to compensate for the ultra-white shine coming from the teeth of all the ear-to-ear smiling mouths.

I am far from a political pundit, but it is clear to me that the last two elections have been driven by negative emotions ... anti-Hillary and now anti-Trump. Just the fact that Salem, Massachusetts voted to become a sanctuary city indicates that those on the left are motivated enough to stick their thumbs in Trump's eye ... even if this means that they are doing damage at home. The constant anti-Trump drum beat from the lefty media is clearly working and this trend is likely to carry over to the mid-term elections next year ... particularly if the Republican Congress remains asleep at the switch.

By himself, Trump has accomplished much under the covers domestically ... and, much more obviously, internationally. The most public measure of these hidden wins has been the U.S. stock market -- up more than 20% in one year -- and surging consumer confidence. This equity inflation is unlikely to continue, particularly if Congress insists on being obstinate. In fact, lack of legislative tax reform could well cause the tide to go out on the stock market too ... which would knee-cap any hope of Republicans holding onto their Congressional advantages.