by Rick Ackerman
Who could have guessed Wall Street would go crazy over Joe Biden? Stocks staged an epic rally on Wednesday after the 78-year-old comeback kid resurrected his campaign in Super Tuesday balloting. Biden’s success did what the Fed’s 50-basis-point rate cut earlier in the day had failed to do — i.e., rally the stock market. Now, presumably, all Biden has to do to leave Trump choking on dust in the polls is say he’s always been a strong advocate of easy credit. Perhaps the guy can cure coronavirus, too? We await word on this from Biden himself, since he has never been shy about taking credit for…everything.
In truth, it was not bumbling, quid-pro-quo Joe’s victory the markets were celebrating, but rather the drubbing that Bernie suffered. Although the Marxist lunatic is still very much in the race, Tuesday’s voting results quelled fears that he would run away with the nomination. Biden now has more than a fighting chance, and his candidacy could pick up steam if he floats Hillary as a possible VP choice.