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Art Cashin: The Selloff ‘Got The White House’s Attention’

"It was dangerous to see the rollover and going negative. If they had gone seriously negative, it could have doomed the week."

You can count Art Cashin among those who think Donald Trump’s Amazon tweets were the proximate cause for Monday’s turmoil that saw U.S. equities get off to their worst start to a second quarter in 89 years.

Of course anyone with any sense knows Trump (or things that generally have to do with Trump) is the main impediment for the market from here, but there’s a (shrinking) contingent of folks who are still desperately clinging to the idea that he’s not effectively tweeting away his own cherished rally. We contend that the President is deliberately tanking Amazon shares in an effort to send a message to Jeff Bezos about the Washington Post’s editorial line.

Whether or not Trump appreciates just how critical Amazon is to the broad market is an open question, but if he didn’t know headed into last week, he damn sure should be acutely aware of it now. Or maybe not, because he was back at it with the Amazon accusations on Tuesday morning despite yesterday’s market malaise, and his contention that Jeff Bezos effectively owes the Post Office “many billions” immediately hit the shares which are struggling again after posting their worst losses in more than two years to start the week.

 

Then, just a few minutes ago at the White House, he said this:

The U.S. government loses $1.47 every time it delivers a package for Amazon.

That’s apparently based on a “study”.

So that brings us back to Art Cashin who on Tuesday says the “selloff has gotten the White House’s attention.”

Clearly, that’s a debatable proposition or if it’s true, it certainly hasn’t stopped Trump from continuing to go after Bezos. Make of this what you will, but do note the bit where Art suggests that had Trump kept tweeting, “it could have doomed the week.”

Sell off got the attention of the White House: Art Cashin from CNBC.

 

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9 comments on “Art Cashin: The Selloff ‘Got The White House’s Attention’

  1. I for one would be no worst off if Amazon just simply vanished!
    But hey clearly we need cheap stuff to keep the sheeplys domiciled.

    • well, you are obviously not an Amazon customer. Where did you get the idea that Amazon sells “cheap stuff”? They have almost anything you could want to buy and they also have the best customer service! Maybe you should check it out before you look so stupid.

      We would all be better off if drumpf just disappeared!

      • And you have a wonderful day!
        You just can’t fix stupid can you ha ha.
        I would try to explain to you that because of tax benefits, debt , and A few other things (investors).
        Which Btw the average working person will end up paying for eventually ie. Bail in, bail out, pick your poison.
        You know it’s that whole to big to fail thing all over again.
        Sooo I stand by my statement.
        Of course that would all be a waste of digital ink and time.

  2. Anonymous

    Isn’t it the post office’s job to ship mail? What the fuck is Trump on about. Do they not Payne postage or something?

    • I already said this somewhere here today but I am happy to repeat it. I am a Prime Member with Amazon (obviously Badger, above, is not) and I buy that membership annually. One of the many benefits with prime is free shipping. Easy to check into what other benefits come with Prime!

      So my theory is that someone told drumpf that Amazon has free shipping and now he is convinced that Amazon does not pay for shipping and just like everything else he spews his bullshit about, even after he has been corrected, he continues his lying rants.

      Amazon typically uses Fed Ex for shipping, with delivery to the post office nearest the final address; USPS receives the pkg and completes the delivery, paid by Amazon.

      • The less frontal cortex the more winning. “Free! What? All hands on deck!” Mr. Magoo’s AMZN outburst gave us $90 off. Who sold when he bellowed?

        Thanks for explaining how Prime “free shipping” has worked since ’97 though. What will Magoo emote when he hears about AMZN drones? “While we’re talking about black helicopters and blue helmeted troops kids, …”

  3. Anonymous

    Trump is a fucking moron and a pathological liar.

    https://www.youtube.com/watch?v=0OTw2w0smEU

    — Anonymous Bippity Bunny

    • A new level now defines that word! The real pisser is that Congress sits on their collective asses and lets this ignorant pig get away with the destruction of our democracy. There is no excuse!

      His lies are hurting people and companies and the investments people have in those companies while he gloats over the personal revenge he seeks — it is criminal behavior!

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