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A mistake from Trump

Posted by Jeff (ILoveCapitalism) at 8:55 pm - June 4, 2017.
Filed under: Depression 2.0,Donald Trump,Economy

President Trump keeps saying (in speeches) or tweeting things like this:

Donald J. Trump Retweeted FOX & friends‏ – Wall Street hits record highs after Trump pulls out of Climate pact

Donald J. Trump Retweeted Eric Trump – Eric Trump Retweeted Reuters Business – JUST IN: Dow, S&P 500 and Nasdaq set record closing highs.

I wish he wouldn’t. Let’s be clear.

  • Stock market numbers matter to individuals; not the nation.
  • Low numbers don’t mean a President is doing a bad job, and high numbers don’t mean he’s doing a good job.
  • The stock and bond markets are bubbles, fueled by the Federal Reserve Bank.
    • As I said under President Obama, way back at Dow 14,000.
    • We also have bubbles in the real estate, auto loan, student loan, forex (USD) and cryptocurrency markets. But I digress.
  • During the 2016 campaign, Trump knew it and correctly said “We are in a bubble.”

Now Trump is taking credit for the high (bubble) numbers. Big mistake.

Instead, he should be warning Americans about how poor the economy’s fundamentals still are (thanks to Obama – until a lot more of Trump’s reforms get enacted). And readying us for hard times in the next recession.

“Live by the sword, die by the sword.” If Trump is going to take credit for high stock markets now, people will slam him when they fall.

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10 Comments

  1. Being inclined to be critical thinking I initially thought this was also cringe-worthy. However; stepping back I realized he’s speaking to the public in general, highlighting the highs as if to say, this is the positive reaction of capitalism to my actions. We all know there’s ups & downs. I do not expect any downward swing to draw commentary from the White House. If it does, it will be used to say, Look we need to implement this & this & this. He’s a capitalist & a capitalist president who’s a billionaire would be able to use absolutely every single thing that happens anywhere to further an agenda. This was all lost on Obama & W. was too busy being a globalist & not-prosecuting the Iraq War effectively.

    I understand the cringe, though. but after 8 years of a static economy slowly recovering because there wasn’t a cheerleader in the White House (just a Commie). All it really takes is a minor win for the White House to send the market up. Bubbles are what they are & the markets were never meant for general public consumption on a large scale in the first place. Something W. never understood because hey, globalists are busy coddling the US Chamber of Commerce & making sure there is cheap labor from abroad.

    Comment by Hanover — June 4, 2017 @ 9:51 pm - June 4, 2017

  2. [Sorry about the cringe-worthy grammar in my #1] s/b Being inclined to critical thinking I initially […]

    Comment by Hanover — June 4, 2017 @ 9:53 pm - June 4, 2017

  3. The housing market bubble burst in 2008 was mainly because people had mortgages that they shouldn’t have had due to government action. This and the stock market prove that not everyone should be in the housing market nor should they be in the stock market.

    Comment by tnnsne1 — June 4, 2017 @ 10:14 pm - June 4, 2017

  4. Honest post. Thanks ILC.

    Comment by CrayCrayPatriot — June 5, 2017 @ 3:56 am - June 5, 2017

  5. CCP, all of them are. As honest as I can make them.

    Comment by ILoveCapitalism — June 5, 2017 @ 4:14 pm - June 5, 2017

  6. What’s the line about success having many fathers while failure is an orphan?

    I think the stock market is the Mother of all Bubbles (MOAB) – but I’ve been thinking that for a couple of years now so what do I know?

    Comment by KCRob — June 5, 2017 @ 7:12 pm - June 5, 2017

  7. My biggest disappointment with Trump is failure to recruit a Ghadafy-style phalanx of sexy female bodyguards. I mean, seriously? I was looking forward to that.

    Comment by V the K — June 5, 2017 @ 9:01 pm - June 5, 2017

  8. Just remember what Rush has said, Trump is not a conservative. I really don’t think he has a particular ideology to guide him. What concerns me is Rush also says that at 70 he isn’t likely to develop one.

    Comment by Matthew the Oilman — June 5, 2017 @ 9:03 pm - June 5, 2017

  9. #7, V, Except he’s married to Wonder Woman. She’s a wonder, Wonder Woman.

    Comment by Hanover — June 5, 2017 @ 9:54 pm - June 5, 2017

  10. #8, Matthew, It’s never the ideology but the agenda that is important. Even Romney’s promised agenda would have been great, had he the wherewithal to fight & win. Winners don’t take punches without a back swing.

    Comment by Hanover — June 5, 2017 @ 9:56 pm - June 5, 2017

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