I think this video pretty much says it all. The global elites at The Economist view Trump’s victory as “cataclysmic.” Here are a few more reactions.
From the Huffington Post: “Mourning in America”
New York Times: “Shocking upset”
New York Times columnist Paul Krugman’s response is really a kicker:
It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover?
Frankly, I find it hard to care much, even though this is my specialty. The disaster for America and the world has so many aspects that the economic ramifications are way down my list of things to fear.
Still, I guess people want an answer: If the question is when markets will recover, a first-pass answer is never.
(By the way, when the market is dropping and gold is rising, that generally means good news for average people)
The prospect of an impulsive authoritarian in the Oval Office rattled investors around the world. But on Wall Street, the Dow was only slightly lower in early trading after having hours to absorb the outcome. At one point late Tuesday, all three major U.S. stock index futures were down more than 3 percent.
Japan’s Nikkei index plunged 5.4 percent; Hong Kong’s Hang Seng Index fell by more than 2 percent. The Mexican peso — which had fallen when the Republican nominee rose in the polls during his campaign — nose-dived to an eight-year low, according to Bloomberg.
CNN: “It was a decisive moment, a historic moment. A moment when a nation realized its greatest hopes and darkest fears.”
CNN’s Ana Navarro: “I found very little comforting last night.”
NBC News: “The Democratic Party was decapitated overnight.”
Obama: “Everyone on my team should be extraordinarily proud of everything they have done.”
And finally, reactions from Europe…plus a spoof video
Obviously, neither I nor anyone else really knows at this point what a Donald Trump presidency will bring. It may not be “the best of times” that America is headed for. But hopefully it won’t be “the worst of times” either.