Trump’s Preferred ‘Confidence’ Meter Down Every Month Since He ‘Created’ It

If you didn’t know, going in, that the Trump Presidency was going to be defined by broken promises, then I’m not entirely sure you were keeping a list of the promises.

After all, we’re talking about a list that included i) building a wall along the entire border with Mexico, ii) banning an entire religious group from the country, iii) not just overhauling the entire health care system, but overhauling it from the ground up by repealing Obamacare, iv) not only reversing the decline of US manufacturing, but in fact ushering in a domestic manufacturing renaissance on the way to bankrupting the Chinese.

So you know, if you’re wondering what the fuck happened, that’s on you.

Meanwhile, Trump likes to point to record high stock prices like it’s something he did (even though, ironically, record high stock prices are the product of the very same policies that Trump said Yellen should “be ashamed of herself” for last September).

And he also likes to point to strength in the labor market like that too is something he did (as if unemployment was running at 9% when he took office and it suddenly plunged below NAIRU on the sheer strength of his machismo).

Take this for instance, from Monday morning:

So in a tribute to Trump and his effect on markets, do recall what he told WSJ on April 12:

I think our dollar is getting too strong, and partially that’s my fault because people have confidence in me.

Well if that was indeed the case – i.e. if we’re going to use the dollar as a real-time indicator of the world’s “confidence” in Trump – then it’s safe to say that “confidence” is plunging, because DXY is down nearly 7% since the President uttered those words…

Trump

…and hasn’t had a winning month since

Trump2

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One thought on “Trump’s Preferred ‘Confidence’ Meter Down Every Month Since He ‘Created’ It

  1. Reading about Trump claiming credit for this kind of thing, and his followers using it as a sort of echo chamber, reminds me of the type of comments I read on Mexican news whenever they mention the Governor of Mexico’s central bank. “OH LOOK AT HIM, HE IS SO FAT, HE IS EATING THE ECONOMY!!!one!1”. When in reality, the guy is one the finest minds in the current administration. Misguided public opinion can be very frustrating, especially since it tends to be pointless to try to present an opposing view. Some people are heavily invested in bullshit that “sounds good to them”. I don’t get it. Changing your mind when presented with new evidence is such a satisfactory process: “I’m a bit less stupid today. Good.”

    Like

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