A day after unveiling an economic plan with all the trademarks of a GOP give-away to the super-rich, Trump went unhinged and fell off message yet again this morning reiterating his position that Americans should avoid investing in the stock market–a linchpin of American wealth–because it’s, “all a big bubble”. Last week Trump implied that Syrian refugees are also somehow a threat to the health of the market. This isn’t a new development from Trump. In January, Trump cautioned that the stock market is “semi-crashing”. Since then, the Dow has added 2,777 points and the S&P 500 has tacked-on 321 points.
Trump’s dangerous rhetoric risks undermining investor confidence in the markets, possibly precipitating the type of downturn he’s warning against. If Trump made such prognostications in the Oval Office, they would almost certainly cause a staggering downturn in markets leaving many Americans with less in their retirement savings.
Trump is neither astute nor a savvy investor: had he simply invested the money his father gave him in index funds in 1988 his net-worth would exceed $13 billion.
- 1/21/2016: CNN’s Tonight with Don Lemon: “The stock market is semi-crashing” — Watch
- 8/2/2016: Fox Business Network’s Varney & Company: “No. I don’t like a lot of things that I see. I don’t like a lot of the signs I’m seeing and I don’t like what’s happening with immigration policies.” — Watch
- 8/9/2016: Fox News’ Fox and Friends – “It’s a big bubble.” —Watch
Published: Aug 9, 2016