It’s Trump’s stock market now

“When it comes to the stock market, President Trump is in a box of his own making,” commentator Helaine Olen states in the Washington Post. “He repeatedly took credit for 2017’s stock market gains, with the S&P 500 delivering a nearly 22 percent return. ‘Stock Market at new all-time high! Working on new trade deals that will be great for U.S. and its workers!’ went a typical tweet, this one on July 15 of last year. ‘Highest Stock Market EVER,’ he declared a few days later. I predicted this would not end well for Trump. “Should the American economy or stock market hit a rough patch, Trump will get stuck holding the bag,” I wrote late last fall.

“And so it has come to pass. The stock market fell dramatically on Tuesday, with the Dow Jones industrial average diving almost 800 points, more than 3 percent. While predicting what causes gyrations in the stock market is not exactly a science, most observers think this culprit is obvious: Trump’s erratic, belligerent talk about trade and China could trigger both a trade war and a recession in the United States.

“Trump has been talking tough on the subject for months, adding tariffs to a host of goods. China, naturally, retaliated. But Trump became more conciliatory this past weekend, apparently coming to an agreement with Chinese President Xi Jinping to pause all future tariff increases for 90 days while the countries attempt to settle the dispute.”

The complete article is here.

Author: jeffpelline

Jeff Pelline is a veteran editor and award-winning journalist - in print and online. He is publisher of Sierra FoodWineArt magazine and its website SierraCulture.com. Jeff covered business and technology for The San Francisco Chronicle for years, was a founding editor and Editor of CNET News, and was Editor of The Union, a 145-year-old newspaper in Grass Valley. Jeff has a bachelor's degree from UC Berkeley and a master's from Northwestern University. His hobbies include sailing and trout fishing.

10 thoughts on “It’s Trump’s stock market now”

  1. I’m waiting for Trump to blame Obama or the Democrats for the falling market. You know he will take credit for when it goes up, and point the finger at others when it goes down.
    And I wonder how all those Midwest soybean farmers are feeling about Trump and his tariffs, now that they have mountains of soybeans sitting around that China would have bought but won’t buy now because of Trump’s tariff war with China.
    America has stepped on a rake electing Donald Trump and the rake handle came up and bashed us square in the face.

  2. Highest trade deficit in 10 years and going up.

    Highest budget deficit in 6 years at $779 Billion and projected to be $1 Trillion in 2019.

    Highest nation debt ever at $21,850,093,880,676 ($22 trillion) and 107% of GDP. The highest national debt ever was 119% of GDP in 1946 after 5 years of WWII spending.

    All before the recession that is likely coming in the next year.

    Nice work Trump!

    1. “in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the national debt in the not-too-distant future. In response, Trump noted that the data suggested the debt would reach a critical mass only after his possible second term in office.

      “Yeah, but I won’t be here,” the president bluntly said, according to a source who was in the room when Trump made this comment during discussions on the debt.”

      So good to know we have a POTUS looking out for the country. Trump’s concern for the economy is about as informed and competent as his concerns for climate change.

      1. “Fish” is talking to himself again on Rebane’s blog. Four posts in a row and no responses. How come nobody wants to come out and play with “fish”? What a moron.

  3. fish is Rebane’s little snitch and troll. He cruises this blog and then reports to RR about what has been posted. His role is to try and intimidate people who disagree with Rebane into going away so the circle isn’t exposed to the truth and can waller in their alternate reality undisturbed. This serves up Rebane’s classic crickets defense. The truth is, George (knowing parts of this post taken out of context may end up on RR) few are willing to wade through the bullcrap in order to ‘discuss’ the issues. It works, Paul Emery is about the only left leaning person who consistently posts there any longer. My hat is off to Paul for his perseverance.

  4. fish: “Well hell JoKe, even you who lives (sorry lived) in the rarified atmosphere of progressive academe must know that you have to fish where the fish are!” Exactly and I caught you just as expected.

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