Trump Held Panicked Conference Call With Jamie Dimon, Others During 800-Point Dow Plunge
On Thursday evening, we documented the extent to which recent market turmoil has rattled Donald Trump who, according to sources who spoke to the Washington Post, has recently called business leaders and financial executives to "sound them out" on the US economy.
That sounds quite a bit like what happened in December, when Steve Mnuchin called the CEOs of America's largest banks on a Sunday to ask about "liquidity", an ill-fated effort to shore up market sentiment which backfired in spectacular
Evidence of Trump’s twisted mind. He has to call experts to tell him what everyone around him (except his sycophants ) is telling him, what the numbers are saying, and still he does not listen. His total lack of even common sense is putting the world into a tailspin.
Trump will not let anything interfere with the wielding of his power. He wants the “win” of single-handedly bringing China to its knees
Trump is running the country like one of his hotel deals that fall apart…Baja California, Tampa, Panama, everyone gets burned but Trump & his family. He’s clueless, but hey let’s buy Greenland.
Ha ha, funny!!!
We are in the midst of a trump bankruptcy, and anyone with half a brain knows things are getting worse everyday! Unfortunately trump and the GOP are playing with America’s future — and yields are headed lower and the train wreck is accelerating.
In 1998, researchers Arturo Estrella and Frederic S. Mishkin tested various leading indicators to gauge which ones were best at signaling future recessions. They found that the 10Y-90D term spread performed better than any other indicator, including variables such as stock prices and changes in the money supply.
https://fred.stlouisfed.org/graph/?g=oEjz
Trump has three bankruptcies to his (dis)credit. Who’s ever bankrupted a Casino before? They’re a license to brint money. I guess he ‘skimmed off’ too much.
Now, as the ‘big Kahuna’ he’s going to set the modern bankrptcy record…bankrupting the United States of America! Who knew? Maybe Putin knew.
Here’s where the Fed fucked-up last year, switching it up …
Not that trump was right, just that the Fed bought into flawed research!
“Participants also discussed a staff presentation of an indicator of the likelihood of recession based on the spread between the current level of the federal funds rate and the expected federal funds rate several quarters ahead derived from futures market prices. The staff noted that this measure may be less affected by many of the factors that have contributed to the flattening of the yield curve, such as depressed term premiums at longer horizons.
https://www.marketwatch.com/story/heres-the-new-recession-indicator-presented-to-fed-officials-2018-07-05
I’m just Bopeep, but that Fed model adjustment looks like that the Fed raised rates and went against the advice of the model data. Pondering back, inflation was never ever an issue a year ago, so raising rates never made sense. If anything the Fed had no clue what they were doing — and then along comes trump with economic stupidity, adding jet fuel onto a forest fire and now both the Fed and trump looking hopelessly moronic, as a global recession phases in. Maybe this is just a perfect storm for hedge funds and people that make money off of volatility, like maybe the trump dynasty. Santa is not gonna like this!
https://fred.stlouisfed.org/graph/?g=oEk4
Near term rally looking more likely.
And still nothing from the one man who could have stopped the nonsense…right Mitch. Oh right, you’re on summer vacation while the world economy is falling apart. sorry to bother you.
Powell fucked up bigly by raising rates and doing QT at the same time. Mango said that the other day and he was right! Now if we could only fire the idiot who put Powell in charge…
This is fake, it was scheduled call that happened to coincide with a drop in the Djia. Mnuchin has scheduled these calls months in advance. Clickbait, and all you people who commented are fools, stop being misled!! Wake up!!
This isn’t true. The meeting with Mnuchin was scheduled in advance, but the topic of the meeting had nothing to do with the market. Specifically, the meeting with Mnuchin was about banking secrecy and money laundering. That was confirmed by at least two administration sources. The call with Trump was not, in fact, scheduled. He wasn’t even in Washington. He’s in New Jersey. Bloomberg and CNBC have both confirmed this with multiple administration sources. What’s amusing is, all you would have to do to confirm that our account is accurate is Google the story. Every financial news outlet developed their own sources who all said the same thing. And, just 12 hours previous, The Washington Post essentially previewed this when their own sources said Trump had been on the phone with “business executives” this week.