(Still) lacking any major legislative achievements in his first year in office, Donald Trump is falling back on the stock market as a measure of “success.”
This is one of the ultimate ironies of this presidency. This is the same Donald Trump who, just 14 months ago, called the stock market a figment of Janet Yellen’s imagination and a “false” product of the Fed’s desire to bolster Obama by doing “political things”:
He went on to repeat that claim just days later in a debate, calling the market a “big fat ugly bubble”:
Well fast forward a year, and Trump is loving this “big fat ugly bubble.” Primarily because it’s the only thing that’s going well.
Actually that’s not true. The unemployment picture looks pretty damn good too and the funny thing about that is he also called the BLS data “fake” during the campaign, leaving poor Sean Spicer to “explain” things as follows earlier this year:
So yeah, this is a whole lot of egregious, hypocritical bullshit, and on Wednesday, Trump tied his own three-day record with this tweet:
That’s six stock market tweets in three days – one more to go for the all-time mark:
Now here’s hoping Jerome Powell keeps doing “political things” like hinting that he’ll roll back regulations on Wall Street, because by Trump’s logic, we’re not too far away from wiping away the national debt with Dow points…Subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas; or the free eLetter for an introduction to our work. You can also keep up to date with plenty of actionable public content at NFTRH.com. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.