Bloomberg News reports that the Mexican peso grew significantly stronger after Democratic nominee Hillary Clinton’s powerful performance in tonight’s key first presidential debate, after confidently besting Republican Donald Trump. The “invisible hand” of the market is predicting a Hillary Clinton win after tonight’s debate, and that she’s the only one of the two candidates whose election would keep more jobs in the USA too:
The Mexican peso rebounded from a record low, a sign investors may perceive Hillary Clinton outperformed Donald Trump in the first U.S. presidential debate. The currency rose 2 percent to 19.4879 per dollar as of 1:20 p.m. in Tokyo, the biggest gain across more than 140 currencies worldwide, after the debate concluded.
Around the world, currency traders, the kind-of-by-the-numbers, bottom line capitalists who Republicans profess to believe in the most, were unequivocal. They awarded victory in the first 2016 Presidential debate to Democratic nominee Hillary Clinton by buying up Mexican pesos believing them to be more valuable with a stable diplomatic situation, and by the numbers traders weighed in:
“I shall not speculate on whether Clinton won or was Trumped,” wrote Jeffrey Halley wrote market strategist at Oanda Corporation in Singapore, “But clearly, the highest [correlated] currency to a Trump victory thinks she did!”
On a practical level, a stronger Peso also means that labor in Mexico will get more expensive for American companies as the exchange rate moves when Hillary does better in polling. Professional currency traders have been betting against the Mexican currency for months to insure themselves against an improbable Republican victory in November, which would set forth a catastrophe if NAFTA is unilaterally cancelled, costing millions of Americans their jobs to appease Trump’s delirious policy dreams.
Ironically, this means that a Trump victory would make outsourcing far more attractive since people would depress the value of Mexican pesos, making the cost of hiring even cheaper than today.
This also means that a Hillary Clinton victory in November will make Mexico’s currency stronger, which will in turn make it more attractive to our corporations to hire American workers or slow down the rate of outsourcing because of higher labor costs south of the border with a stronger Peso.
Voting for Hillary Clinton is now economically certain to be better than voting for her lying Republican opponent, because his racism would literally be self-defeating, and the “invisible hand of the market” would be best held by a Democrat’s steady hand in the Oval Office come January.
Grant Stern is the Executive Editor of Occupy Democrats and published author. His new Meet the Candidates 2020 book series is distributed by Simon and Schuster. He's also mortgage broker, community activist and radio personality in Miami, Florida., as well as the producer of the Dworkin Report podcast. Grant is also an occasional contributor to Raw Story, Alternet, and the DC Report, and an unpaid senior advisor to the Democratic Coalition.