His election gave us the “Trump Bump” which was bizarre, entertaining and wildly profitable for many, but then it seems like we forgot to correct for the data point that Donald Trump is the fucking President of the United States.
That exceedingly amusing assessment appeared on DealBreaker on May 17, which you’ll recall was one of the only days in 2017 that might be fairly characterized as unequivocally bad for stocks:
That decline was of course catalyzed by questions about whether Trump tried to bully James Comey into backing off of the Russia investigation, but the point is that if you kind of step back and think about this logically, the idea of a “Trump bump” was absurd from the beginning.
Because calling it a “Trump bump” means that everyone buying into said bump acknowledged that Trump is President, a reality that in a world where people are rational, should trigger the exact opposite of a “bump” in prices for risk assets.
Well, on Wednesday the world is once again discovering that it might have been a mistake to “forgot to correct for the data point that Donald Trump is the fucking President of the United States.”
As noted earlier, the Nikkei just had its worst day since that very same May decline shown on the S&P in the chart above and now, European stocks are falling across the board:
As for gold, well it just took another leg up to its highest since June 14:
- GOLD FUTURES EXTEND GAINS TO HIGHEST SINCE JUNE 14 ON COMEX
Meanwhile, Trump is back on Twitter bragging about his bigly, “stronger than ever before,” mighty “arsenal” of nukes:
Coming full circle, this is what happens when the world remembers that Donald Trump is President.
Don’t forget to correct for that “minor” data point in your projections…
*********
Perhaps the White House Goebbels machine is overdosing Trump’s inflated ego a wee bit too much and they need to ease up on his daily propaganda.
https://news.vice.com/story/trump-folder-positive-news-white-house?utm_source=WTF+Just+Happened+Today%3F&utm_campaign=52ec68a1bc-Day_201_Extreme_weather_8_8_2017&utm_medium=email&utm_term=0_9813b73b1a-52ec68a1bc-162859433
Marty, that is awfully interesting. Textbook narcissist. Nevertheless, the fact is that for the first time ever you have Russia and China backing, rather than vetoing, UN sanctions against NK. Something that the weak apologist OBama could never get. In Asia, we are mostly thrilled at the departure of Obama and Hillary, who were both widely seen as weak on defense and incompetent, utter failures in foreign policy issues. Obvious given how Russia annexed a chunk of eastern Europe, China conquered the seas in eastern Asia, Syria crossed Obama’s red line, and ISIL was born and raged across the middle east – all with impunity and all under Obama’s watch, with little response except for Obama’s pitiful apology tours.
what the hell do you mean … “nevertheless …” the man is COMPLETELY INSANE. And he is the idiot in charge of this Country. And you go on to compare him to Obama? Have you also lost your mind? Without responding to all your dumbass bullshit, line by line, I will emphatically state that we are not responsible for all the bad shit that happens in this world. I am thankful that our Country does not jump into the middle of all other’s problems. One more thing – your ridiculous comment about “Obama’s pitiful apology tours” – that is just an ignorant comment! I suppose you support trump’s continuing “campaign hate rallies” 10 month’s after election are perfectly normal? And you think it is great that this moron has to be petted and groomed as wonderful twice a day … can you imagine how they laugh at him every day, twice a day?!? This is not OK.
– Murphy
Lol US nuclear arsenal renovated and modernized in 6 months… does this mean they no longer rely on 8″ floppy disks?
Of course N.Korea could be wiped off the map. The point is, that’s not a feasible option.
That’s funny, John. Of course, only Destructo could spit out a lie like that without a blink. It would take many years and hundreds and hundreds of billions of dollars to renovate and modernize our nuclear arsenal. The debate on the legislation to budget that money would go on and on and on forever. Neither of those things have occurred.
IRB, Obama managed to hand over a substantially ravaged Middle East ISIS to Trump. Hardly a word is spoken about Trump’s actions against ISIS because not much is being done different, except HIS blustery airstrikes against ISIS have already killed more than 2,000 civilians. Obama and Clinton never gave classified intelligence to the Russians nor did they become chums and hand over the playing field to Putin. Obama never got the US into a war. With NK, Trump has taken the first negotiating step of backing himself into a corner to take military action. The UN sanctions measures would be the seventh set of UN sanctions imposed on North Korea since it first carried out a nuclear test in 2006. But the measure does not provide for cuts to oil deliveries to North Korea as initially proposed by the United States – a move that would have dealt a serious blow to the economy. And it’s a measure that comes after North Korea launched its first intercontinental ballistic missile on July 4 which was followed by a second test on July 28, so comparing these circumstances to what Obama and Clinton did or did not achieve is inapposite. Trump’s prowess in foreign affairs can be best witnessed by a read of the transcript of his phone calls with Mexican President Enrique Peña Nieto and with Australian Prime Minister Malcolm Turnbull. Therein he sounds like a student in his first of a four week seminar on Negotiations 101. In fact, given his low self-esteem and weak nature, his “fire and fury” statement yesterday, may have been his way of attempting to recapture the loss of his self-perceived “me big strongman” status, after it was decimated by the release of that transcript.
As to the other actions of foreign states you set forth, it’s easy to make claim in a few sentences that it was all done “with impunity and all under Obama’s watch, with little response except for Obama’s pitiful apology tours,” but I’ll say this: If you’re point is to compare Obama’s capacity to act as the Presidential Tiller man of this country v. Trump, I’ll choose Obama every time. From intelligence, honesty, temperament, reliability, intellectual honesty, intellectual curiosity, knowledge and understanding of the constitution, law, judiciary, legislative process, American government, governance, love of his country and Americans and all people; world government and history; and caring, compassion, empathy and sympathy of others; ethics; capacity to learn, listen and interrogate difficult matters and the patience to do so; writing, reading and comprehension; foreign affairs; diplomacy; religion; and, the capacity to tell the truth from moment to moment and believability; need I go on? I think not.
Trump is a Presidential dud.
He is the Y2K of Presidential elections.
I honestly did not think it would be possible to encapsulate Trump’s deficiencies in a single phrase, but Marty I’ll say this: you’ve definitely come as close as I can possibly imagine in that last paragraph.
Marty
Kudos for your last paragraph.
MARTY!! Every single line, every single word, 100% true and well said! Who are these clowns and their insane support for a man who is clearly out of his mind?!?? And like him, they have to try and tarnish the 8 years that Obama did a remarkable job, who served this country as a smart and dignified true man of courage and dedication. Thank you, Mr. Obama!
and THANK YOU, MARTY for saying this intelligent informative rebuttal to their ignorance! And you get extra points for your “Y2K of Presidential elections” ending! Perfect!
– Murphy
The point is you don’t WIN BIGLY, you break even at best, throw in some “nuke fallout” and (wait for it) WE ARE ALL FUCKING DEAD.