President-elect Donald Trump is running the most incoherent presidential transitionin memory, and that ought to give the stock market pause. Investors are placing chips on someone whose policy statements, real and prospective appointments, and overall signs of management skill resemble a game of 52-card pickup.
Consider: John Bolton as the possible secretary of state — a man who not only still favors the Iraq war Trump claims he opposed, but also wanted wars with Iran and North Korea at the same time? Or will Rudy Giuliani be America’s chief diplomat, bringing the same healing touch to international affairs that he did for New York City race relations? And what to make of senior counselor Steve Bannon, the Breitbart News honcho whose wooing of white nationalists won applause for his appointment from the American Nazi Party?