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How impeaching Trump would impact Australia’s economy

 

Turns out the reign of Donald Trump may be short and not-so-sweet, that tends to happen when you are POTUS and your son is yakking with Russians about things they shouldn’t be yakking about.

Yes, impeachment proceedings are officially and formally underway to have the former reality television star (and ‘businessman’) crowbarred out of office.

They couldn’t impeach Clinton or Nixon, but the bookies have Trump at 33.33 per cent odds of being bounced out of Washington.

 

 

The theatre should be spectacular, but not without consequence. Because if America turfs Trump that could result in big ramifications for Australia.

When Brexit became a thing, the market spun into pandemonium worldwide and the UK pound crashed to a 31-year low.

Britain’s FTSE 100 strapped a rock to its own ankle and took a swan dive off Big Ben, plummeting more than 500 points.

 

 

While these markets recovered somewhat, there is still global volatility over what will happen next.

So, when a global super economy is staring down the barrel of a POTUS going cactus, you can only imagine the volume of sweat beads on the foreheads of those in Wall Street.

The US market has been steadily rising built on policy promises made by Trump. Delete the man, delete the policies.

This could lead to a domino effect on global markets, which would hurt our super funds. The danger of a drop in the US dollar would likely push our dollar up, making international investment in Australia less desirable.

But remember, no POTUS has ever been dumped before.

 

Donald Trump and his family's dealings with Putin have been questioned. Pic: Business Insider
Donald Trump and his family’s dealings with Putin have been questioned. Pic: Business Insider