Trump lost a case about Mississippi counting absentee ballots that arrive after election day. The Supreme Court said states can do that. Amy Coney Barrett wrote the opinion. Trump nominated her. She ruled against him anyway.
This marks the first time in recorded history a person appointed to a lifetime position with zero accountability failed to remain loyal to the person who appointed them. Except for every other time.
Trump called it a "tremendous loss" and doubled down on voter ID requirements. The connection between late-arriving mail and voter identification is unclear. One involves the postal service being slow. The other involves checking who someone is. These are different concepts. But why let that stop a good pivot.
Barrett rejected arguments that federal law preempts Mississippi's ballot rules. Preemption is a legal doctrine about which level of government gets to make which rules. It is boring. It does not affect your portfolio. You are reading about constitutional law instead of looking at charts. Your Tesla calls expired worthless on Friday.
The Supreme Court has now spent valuable judicial resources determining whether mail that arrives late can still be counted if a state says it can be counted. This required oral arguments. Briefs. Analysis. The answer was yes, if the state legislature said so. Groundbreaking stuff.
Retail traders immediately began trading based on this decision. They bought voting machine stocks. Then they realized voting machines have nothing to do with mail-in ballots. Then they bought stamps. You cannot buy stamps on Robinhood. They tried anyway.
Trump wants a voter ID bill. The Supreme Court case was about ballot deadlines. He is now talking about identification requirements. This is called staying on message, which means changing the message entirely but saying it louder.
None of this matters for your brokerage account, but you'll trade on it regardless because you think constitutional law is a technical indicator.
Photo by History in HD on Unsplash
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