By Clay Jones
Since taking office, Trump has boasted about the performance of the stock market, ignoring it was a trend that began under President Obama. Now that it’s crashing, the only thing Trump has to figure out is how to blame Obama.
Is it Trump’s fault that the market keeps going down? Maybe not entirely, but he’s not helping. Some of the blame does land squarely on his shoulders.
He’s enacted a trade war, increased tariffs (which are taxes), increased the deficit and shut down the government over a petty issue for the sake of his ego. Wall Street is also uneasy by chaos within Trump’s staff as the market slid further with the resignation of the last adult in the administration. Trump’s tweets demonstrating his confusion, inability to understand simple and complex matters and tirades don’t help calm jittery nerves on Wall Street. Yesterday, he tweeted that the Fed didn’t have “a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders.” Maybe Wall Street freaked out over his use of capitalization.
Wall Street probably saw the video of Trump stating that he’d proudly shut down the government and wouldn’t blame Democrats, so I’m sure they understand this is a Trump shutdown. Stocks fell even further after Trump’s tweets.
Treasury Secretary Steve Mnuchin sent a tweet that was supposed to calm Wall Street but had more of an effect of everybody walk out of the theater calmly and don’t worry about the bomb that will explode any second now.
Mnuchin said he had contacted the chief executives of six major banks to ensure that their operations were running smoothly and that they had “ample liquidity available for lending.”
Analysts and economists have not cited a lack of cash for lending as a significant reason for the downturn, but after Mnuchin’s tweet, now they’re kinda freaking out about it. It’s like waking up your kids at 4:00 am to assure them the bank isn’t about to repossess the house, now go back to sleep. Mnuchin just made the stocks fall even faster.
Despite Trump’s best efforts, the economy is still in good shape. The nation’s faith in the economy isn’t based on Trump’s job performance. What would probably help the stock market the most would be if Trump and his cabinet of idiots would stop talking. Go to the movies or something. Just ignore the stock market and the economy. The least Trump does the better.
Trump has complained about bias against him from Congress, the media, celebrities, and even complained about laws that allow Saturday Night Live to make fun of him. But the thing is if everybody hates you maybe it’s not just them. Maybe you truly are an asshole. Maybe you do suck at your job. Maybe you are a horrible person. When you tweet out on Christmas Eve that you’re all alone and write “poor me,” don’t expect a ton of sympathy. Especially from anyone who has a 401K, or had one before last week.
Kurt Cobain wrote in Territorial Pissings, “Just because you’re paranoid don’t mean they’re not after you.” There are plenty of people after Trump, but the laughter he’s hearing at his expense isn’t just his imagination either.
What Donald Trump hasn’t realized yet is the reason so much is going wrong is because he’s a lousy president.
