economy politics

Trump, Under Siege For Stimulus Torpedo, Pins Hopes On Late-Night Tweet Reversal

Markets looked to gingerly retrace the risk-off move that rippled across assets late in Tuesday's US session after Donald Trump partially backtracked on an abrupt decision to kill stimulus talks until the election. Trump's original pronouncement rattled stocks, effectively signed economic death warrants for tens of thousands of US workers, and further imperiled industries desperately seeking additional relief, including and especially airlines and restaurants. In addition, Trump's decision to cancel stimulus negotiations meant that once any funds being disbursed to the jobless under his August executive order extending a federal unemployment supplement using repurposed disaster relief funds run out, the unemployed would lose one of their lifelines. And on, and on. Read more: Trump Kills Stimulus Talks In Dramatic About-Face. Says Negotiations To Resume ‘After I Win’ Late Tuesday, during an hourslong series of tweets and retweets touching on everything from alleged voter fraud to Hillary Clinton's e-mails, the president backtracked in favor of a position consistent (sort of) with GOP allusions to "targeted" relief. "The House & Senate should IMMEDIATELY Approve 25 Billi
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12 comments on “Trump, Under Siege For Stimulus Torpedo, Pins Hopes On Late-Night Tweet Reversal

  1. Tom Swift says:

    Gawd! It’s almost like watching a fish flopping around in the bottom of a boat!
    On the other hand, the market’s had a wild ride that is fun to watch (and profit from the reactions).
    A different culture in DC would be following the advice of Jerome, but this regime only cares about power and brinkmanship. Soon a new crowd will play the long game for the same ends.
    “Management by Tweet” who would have thought it possible in 2009?

    • joesailboat says:

      I remember a FAX machine getting delivered to our office 1989 and someone said,”This is the end of chain of command and thought out policy.” FAX is now slow motion.

  2. babeinwoods says:

    These days I often pop over to Fox News to try to get an idea what rumps base might be seeing. This morning the headlines are about Russia and Hillary. You have to go down at least 5 articles before you get to this stuff and then it mainly talks about the $1200 check tweet. You have to dig into the article to see mention of his previous tweets and they are framed as standing up to Pelosi’s crazy demands.

    So if you only watch Fox, no matter what happens, rump is a hero.

    • libero says:

      I gave up on Fox and CNN a while back both mishandle the truth and push their political agendas. Sadly i go to Al Jazeera for the news headlines.

        • As someone who has studied propaganda and how it’s disseminated, I feel compelled to interject one simple observation here:

          “Spin” is different from outright lies. Fox, in some cases, traffics in lies. Outright, demonstrable, provable lies. And not sketchy stories or “sources” stories that are later proven untrue. What I mean here is “grass isn’t green”, “sky isn’t blue”, “that tree isn’t a tree” type lies. Also, Hannity and Carlson are not “anchors” — at all. They are actors. Same with Pirro. They have fundamentally different job descriptions (even if unwritten) than, e.g., Cuomo and Don Lemon. Fox is, for lack of a better word, dangerous. It always has been.

          • Asymptotic says:

            Yes x100, to this and to the whole article. The ongoing, dumbfounding mystery: why sane (vs. Q-Anon types) Rs don’t see routine flamethrowing, plus science-mocking, pseudo-Stalinesque lies and posturing, plus all attendant ‘decision-making’ chaos, as a threat to their own interests.

          • MoreEqual says:

            What you’re looking for is essentially two dimensions of news: bias (left vs right) and credibility/quality (facts vs fabrication).

            There is a handy graphic that represents this as bias on the x-axis and quality on the y-axis:

            https://www.blindspotblog.us/post/the-multiple-analyst-generated-media-bias-chart

            Even something far-left like Mother Jones will appear way higher on the quality axis than something equally far-right right like Fox News.

          • dayjob says:

            Thank you for sharing that link, MoreEqual! This is one of the biggest challenges we confront in our society. Too many people mistake bias for inaccuracy and opinion for news. People want stories that confirm what they already believe and simple headlines rather than complex analysis. It would be fascinating to see a distribution of our population that is primarily aligned with each source overlaid on that chart. I think it would explain a lot about the state of society.

            I really wish more people understood these dynamics, but alas, Trump continues to drag 40% of the country down and to the right.

  3. joesailboat says:

    Trump owns the market? Not now,it owns him.
    He should have taken a rest at Walter Reed and thought out everyone else’s long game.
    He is a pawn with position.

  4. His incompetence is on full display with this drama. Clearly stimulus would help his re-election prospects by stemming loss of his base. Better if done months ago, but again that is simple incompetence. For those who loathe this presidency this should come as bittersweet news.

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