Trump Is ‘Glued’ To The Stock Market -And He’s Running Out Of Excuses
A couple of days ago, the Wall Street Journal ran a story that described just how obsessed Donald Trump is with the stock market these days.
That, in an of itself, isn't really "news". After all, Trump has been obsessed with the stock market since taking office, and he's tweet-bragged about the Dow more times than anyone can count.
Just to reiterate the obvious, it’s never a great idea to take credit for the stock market if you’re the president. That’s tempting fate, and it sets the stag
Everyone seems to be convinced of the same bit of hysterical blindness, namely the idea that our erstwhile president is/was a “businessman.” He is not now and never was a businessman. He is merely a failed real estate investor now reduced to leasing his name to others because he can’t make a proper deal of his own anymore. He has bankrupted nearly every property he has owned and put tens of thousands of his employees out of work, often forcing them to sue for their wages. Anyone who can blow the Plaza, choice gambling properties in Atlantic City, an historical landmark golf property in Scotland (losing a fortune), and others too numerous to mention, sure as hell can’t lead the whole economy, let alone know who can.
I wonder what it will take for these people to wake up. But between SDNY and Mueller, the tax returns, and the Duetsche Bank investigation, I suspect we’ll eventually know the truth about Tariff Man’s empire of dirt.
“The wheels of justice move slowly, but grind exceedingly fine.”
“Erstwhile” is the wrong word here unfortunately, but perhaps soon enough, not.
Trump will never run out of excuses, because he is a delusional, narcissistic maniac. He will accuse House Democrats, the Mueller investigation, New York state government, Obama, Bill Clinton, Carter, Iran, Venezuela, migrants, MS-13, Muslims, the transgendered, abortion, Powell, Yellen, Tillerson, Obama, Hillary Clinton, C.N.N., you, me, Obama whoever and whatever necessary to deflect blame. He is incapable of self-reflectiona or reasoned analysis.
and by the way, I would not be making fun of him for the stock market if he hadn’t gone out of his way to take credit for it. this is another problem of his own making.
If he had followed the advise of GOP Advisers and run the mid-terms on the excellent stock market , at that time, instead of pandering to his base of bigots with the faux invading army of immigrants, the GOP likely would have done better by garnering more of the suburban middle income (and women’s) vote. Now he’ll ‘wear the stock market’s travails, perhaps more caused by his tariff wars than by Powell. Since Powell, is data-driven, he’ll likely ease up on the rate increases (and accompanying rhetoric) because Trump’s trade war with China (I agree, they’ve had bad I.P. Policies and committed industrial espionage, which could be dealt with without a tariff-driven trade war) is putting the economy in a slippery downward slope.
I wonder when (if he hasn’t already) he will ask Mnuchin to buy SPYs or futs to get the market going back up………………
I have always believed Powell was an excuse and not the cause of the sell off. The tariffs/trade were the biggest reason, the slowing global economies, stretched valuations and positioning, slowing housing and autos, dollar strength, QT, fiscal cliff, 2019 estimates too high, narrower leadership, and potential for a Fed misstep but Powell will not repeat the 2007-2008 Bernanke mistake.
Taking away the punch bowl, and somehow this is Trump’s fault. LOL
Because nothing is his fault. He is only a victim. Always a victim. Like his base.
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