Category Archives: Wall Street Tweet

Wall Street Making Big Mistake

Published / by Stephen

Share This:

Levin Report: Trump Warns Stock Market Is Making a “Big Mistake”

It’s only one tweet. But there’s so much to appreciate:

1. When Trump says the stock market went down because of “good news,” what he’s referring to is the fact that many have attributed Monday’s drop (as well as last Friday’s) to the strong U.S. employment numbers which, among other things, are leading traders to fear higher wage demands and rising inflation, at a time when the economy is getting a giant, yuuuge stimulus in the form of the tax cuts. Trump was actually warned by a lot of people, who he didn’t listen to, that given where unemployment was—at a multi-year low—and the relative strength of the economy, now was the exact wrong time for a stimulus. (“Passing the tax reform bill is like throwing a small cup of gasoline on a fire that’s already burning,” one expert said.) But he did it anyway, because he’s stupid, and now the markets are worried about a recession (which Trump was also warned about).

2. You know he has literally no idea how modern financial markets operate and that his basis for the stock market is a bunch of guys holding up little pieces of paper and shouting on the floor of the stock exchange.

3. Isn’t it great that Trump believes he can bully and intimidate the “Stock Market” like he does his political enemies? What’s he going to do to the “Stock Market”? Fire it? Send it back to its country of origin? Demand it produce its long-form birth certificate?

4. We’re calling it now: the president is one indignity away from giving the stock market a derogatory epithet. Watch your back, Liddle Stock Market! Fake Tears Stock Market! Low Energy Stock Market! Sad!