Trump and his stock market claims?

Discussion in 'Politics and Religion' started by Russ Smith, Oct 16, 2017.

  1. Russ Smith

    Russ Smith The Original Whizzinator Contributor

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    I thought about putting this in the other group but I decided it's not really a financial thing it's a political thing.

    Again today Trump is tweeting the market is up 25% since he won the election, that the US has "gained 5.2 trillion in stock market value" since I was elected.

    Last week he appeared to be claiming that the rise in the stock market offset some of the national debt, and now his people are going on tv(CNN etc) and parroting that claim. Just yesterday in a debate about how his healthcare actions would cost the government money, a Trump defender outright stated it's more than offset by the stock market gains.

    Can anybody explain to me what the hell they're talking about? Near as I can tell the US government doesn't have money in the market that's going up? Is this just another example of him trying to distract people, or does he honestly think that the market going up helps reduce the national debt?

    I own stocks and yes I'm doing quite well in stocks since the election, I fully get that, but I don't for a minute see a connection to the debt.

    He's also now taking credit for low unemployment, even though the jobless claims actually went UP last month for the first time in quite awhile, on his watch.

    This whole thing is mind boggling to me, this alternative facts world we suddenly live in where the President of the United States repeatedly lies and we're so used to it that his supporters actually defend his right to tell lies.
     
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  2. Covert Rain

    Covert Rain Father smelt of elderberries!

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    It's all B.S. The theory goes like this, Trump is a business man who supports big business. Therefore, his views on business drives the stock market. That's true to a small degree but only temporary. I have stocks too and I watch them like a hawk. Under Obama I have seen a windfall in parts of my portfolio. The uptick started in 2009. For example the S&P 500 had a 235% increase. Meaning that this all started under Obama.

    It's just continued into Trump's Presidency. Trumpers have blinders on. It's like the stock market was only invented the day Trump took office.

    In terms of the debt? Trump is a moron. There is no correlation between debt reduction and the stock market. That's what happens when he lets fund managers and personal bankers handle his money. He doesn't know how it works. To impact the debt you need to raise revenue (taxes) or cut spending.

    Similar issue with the Job market. Obama's recovery according to Trumpers never happened. He was handed an economy and job market that was the worst since the Great Depression. Obama's economic policy, budget etc. are still in place. He made huge gains in the gaping hole left him. Trump is riding that wave.

    Again, I ask every Trumper....what legislative changes has he made in Congress that alters policy already in place?
     
    Last edited: Oct 16, 2017
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  3. UncleChris

    UncleChris Retirement Doesn't Suck Contributor

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    [​IMG] Pick me!!!! I've got this one !!! Pick me!!!!! I know, I know!!!! Pick me, pick me!!!!!!


    :D
     
  4. Russ Smith

    Russ Smith The Original Whizzinator Contributor

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    I guess what I was asking is can anybody even hazard a guess at an argument that supports what Trump is claiming about the markets and the debt? I completely agree with you it's nonsense, I'm just curious if anybody even has an idea what he's basing this on. To me it seems like a complete outright distraction/lie.

    I completely agree on the cause and effect too, Trump was just speaking about his meeting today and while he was speaking, CNN has the stock ticker going below and all of the Dow, Nasdaq and S&P dropped while he was talking. The DOW went from up about 60 to up about 30 during his speech, the NAS and S&P are both still up but fell by a larger % than the DOW did.

    When he cut the payments off for Obamacare the result was to kill insurance company stocks, and hes' openly bragging about that now. Look at those stocks, look how much they've gone up under Obamacare, not any more. So in one breath he's bragging about the markets going up because of him and it's good for the country, and in the next breath he's using stock increases by insurance companies as proof Obama "paid off" insurance companies.

    There are some things in his tax proposals that are business friendly and probably contributed to an increase in the markets when first proposed, but we're so far in now and he can't pass anything, that I think even those are now sort of in limbo.

    He also just said on camera Obamacare is dead now there is no more Obamacare. So he's effectily on record now as taking credit for killing it, and then he said we'll put something temporary in place now, and then in March or April we'll do something more permanent. So he just admitted to killing healthcare and wait 6 months for us to put anything in to replace it. That's 2 days after insisting what he did was going to help millions of people immediately.

    The ease of which he lies is unreal.
     
  5. Rivercard

    Rivercard Too much good stuff

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    https://www.vox.com/policy-and-politics/2017/10/14/16475426/trump-obamacare-stock-market-tweet

    "Health Insurance stocks, which have gone through the roof during the ObamaCare years, plunged yesterday after I ended their Dems windfall!"

    Trump gloated in a tweet Saturday that his ACA sabotage caused health care stocks to tank. Remember when the President of the United States didn’t actively attack the American economy? Or take victory laps when the attacks were successful? Good times.
     
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  6. Mainstreet

    Mainstreet Registered User Contributor

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    Russ, I think you are providing good answers to your own questions. My guess is most Trump supporters use these claims to justify how they voted.
     
    Last edited: Oct 16, 2017
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  7. Mainstreet

    Mainstreet Registered User Contributor

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    Again, you are right on target.
     
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  8. Russ Smith

    Russ Smith The Original Whizzinator Contributor

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    Maybe he's got family shorting those stocks?

    He's been attacking Bezos and Amazon for months too because he hates the Washington Post and Bezos owns it.

    I just can't figure out does he really believe the stuff he says or is he just so narcissistic it doesn't matter to him if he lies and everyone knows he's lying.
     
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  9. Azlen

    Azlen Registered

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    The question that has to be asked is if the economy is doing so well, what is the driving force behind a massive tax change? Why would anyone want to go in and mess things up?
     
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  10. AsUpRoDiGy

    AsUpRoDiGy Magnanimous

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    He's a narcissist and a pathological liar, so any claims he makes are purely based on his opinion with no factual evidence. And I wouldn't be surprised if he was shorting healthcare stocks and purposely throwing them under the bus to make a buck. He can legally insider trade now, so spreading false information would be in his best interest at that point.
     
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  11. Rivercard

    Rivercard Too much good stuff

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    There is a black hole where Trump's soul is supposed to be. I half expect him to dispatch Pence to stand outside of TRU stores to point and laugh as they close for good.
     
  12. Linderbee

    Linderbee Let's GO, CARDINALS! Contributor

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    Sadly, either is equally plausible. I personally think that in this case, he made the statement because he's stupid and thought that's how it works. Someone has probably since educated his dumb arse, but he has to double down on it since he can't admit to being that dumb. He also knows the majority of his constituents will just lap it up as gospel anyway.
     
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  13. Russ Smith

    Russ Smith The Original Whizzinator Contributor

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    Another classic example yesterday of him lying. He was asked why he hadn't made any statement about the 4 soldiers killed in Niger, so he started talking about writing them personal letters before he called them, he likes to do that, and most other POTUS, including Obama, didn't do that but Trump thinks it's important although it's very difficult for him to do.

    One of the reporters clearly used his smartphone to google it, found out it was BS, that Obama HAD in fact regularly written letters and called families, and in some cases took late flights to get there in person and meet with families. So the reporter asked Trump why he said that and Trump then lied again and said well I don't know what Obama did, I can only go on what my generals tell me.

    It was so bad that during a panel last night on CNN some former Trump campaign adviser was defending Trump as in nobody is always correct and the guy said on live camera on CNN "but why does he go in front of the county and make ISH up?" The CNN guy Don Lemon had this look on his face like we're probably not supposed to have people swearing on live tv like that but man I'm glad you said that to shut the guy up who was defending Trump.

    But Trump has STILL not admitted he made it up, the Republicans are now even disputing he said that. It's like the reality distortion field they used to joke about with Steve Jobs.
     
  14. Russ Smith

    Russ Smith The Original Whizzinator Contributor

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    I can't take much more of this clown. He's in a press conference right now with the Greek Prime Minister and before he started he said he wanted to take this moment to inform everyone that the stock market(DOW) had just hit another all time high of 23,000 for the first time ever. He then said we hope Greece will soon too, turned to the PM of Greece and said "I think it will" and then started the speech!

    what in the hell does the value of the Dow have to do with US relations with Greece?

    He's unreal.
     
  15. Patrick

    Patrick Banned

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    The fact remains, the stock market is up 25% since taking office. I don't bash/credit any President for this, but it does signal optimism for the market that they believe DJT is good for business, which is not a bad thing for any Prez...
     

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