What this portends is certain recounts in most of those states, along with court pleadings contesting mail-in and absentee ballots which have likely kept President Trump from a second term in office. The most contentious and important states yet remaining to call a clear winner are Georgia, North Carolina, Pennsylvania, and Michigan.
In the pre-dawn hours Wednesday, Trump's lead of more than 200,000 votes in Michigan magically was cut down to 68,000 and continues to shrink. By noon today, as the counting continues, Michigan may have turned from a Trump lead to one for Joe Biden.
North Carolina may be counting votes for days as their constitution gives them up to nine days to count votes. Trump currently holds a slim edge of roughly 60,000 votes. Trump's lead in Georgia is more than 100,000 as of this writing, but the count will resume this morning, focusing on Dekalb county, the Democrat stronghold of Atlanta.
Pennsylvania is a nightmare, with less than 30% of the votes in Philadelphia having been counted. As of Tuesday night, when counting stopped, President Trump held a lead of more than 600,000 votes, but Democrats are energized by the huge numbers of mail-in and absentee votes not yet counted in their base of Philadelphia and its suburbs.
Any result will trigger recounts in at least five states, if not more. Court challenges have already been filed, with more to come. All of this leaves the American public in a state of deja vu, harkening back to the contested election in Florida between George W. Bush and Al Gore, which was eventually decided by the Supreme Court, in a decision that is, to this day, a sore spot for constitutional scholars as there is no written guideline that gives the court the power to decide elections.
With the presidential outcome and that of several senate races completely up in the air, America faces hard days ahead. The process could play out over a week, a month, or longer. Despite the uncertainty, stocks continue to trend positively. On the heels of back-to-back gains Monday and Tuesday, futures Wednesday morning are wildly positive.
Making predictions on where all of this is headed, in markets, in politics and in social response is a fool's errand. Only one thing is certain: the pre-election polls, which had Biden handily winning in many states that are still being contested, were not polls at all, but guidance points for the corrupted media that has been in the tank for Democrat candidates for years. Pre-election polls have become an endangered species, believable by only the truly daft or gullible members of society. They have become highly politicized and tools of the mainstream media.
At the Close, Tuesday, November 3, 2020:
Dow: 27,480.03, +554.98 (+2.06%)
NASDAQ: 11,160.57, +202.96 (+1.85%)
S&P 500: 3,369.02, +58.78 (+1.78%)
NYSE: 12,877.45, +215.29 (+1.70%)
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