Donald Trump just opened his mouth and sent things off a cliff
Imagine being in such a powerful role, you can instantly shift world markets just by opening your mouth, or by tweeting a few words. Now imagine being so impotent within that powerful role, every time you open your mouth about the market, it reminds investors of just how much you suck, and prompts them to begin selling off.
Welcome to the bizarre world of Donald Trump, who sees the roaring Obama economy finally turning south due to his own failed policies, and instead of reinstating Obama’s smarter policies, decides to set it all on fire. Trump’s own handpicked Fed Chair Jay Powell announced an easing of interest rates today, to try to mitigate the impact of the recession that we all know is coming.
But Trump was looking for a much larger, reckless interest rate cut, the kind that would temporarily and artificially inflate the economy – perhaps just long enough to last through the 2020 election – before bursting and causing a much worse recession than would have otherwise have happened. So as soon as Jay Powell announced his move this afternoon, Trump tweeted this absurdity: “Jay Powell and the Federal Reserve Fail Again. No “guts,” no sense, no vision! A terrible communicator!”
Donald Trump’s tweet caused the market to plummet about 175 points within the span of a few minutes, a reminder of who’s really the “terrible communicator” here. Then Trump shut up for the rest of the trading day, and investors decided that Powell’s move was in fact a smart one, and the Dow Jones ended up closing up for the day.
Donald Trump really is just that toxic to the stock market. This once again raises the essential question: does Trump keep tweeting this market-killing nonsense because he’s just that much of an erratic and self-destructive lunatic? Or is one of his wealthy puppet masters goading him into posting these deranged tweets about the Fed Chair, so that the puppet master can buy and sell stocks at an advantage throughout the day? We’re either looking randomly psychopathy, or the biggest insider trading racket of all time.
