Trump Claims Prospect of 'Presidential Harassment' by Democrats Is Causing 'Big Headaches' for...
Source: Mediate
Trump Claims Prospect of Presidential Harassment by Democrats Is Causing Big Headaches for Stock Market
by Josh Feldman | Nov 12th, 2018, 11:11 am
President Donald Trump claimed today that the stock market is having big headaches because of the Democrats.
The Democrats taking the House means they will be able to conduct investigations, and Trump borrowed a phrase that Mitch McConnell has used before presidential harassment only this time in reference to the market:
Link to tweet
Trump recently said at a jobs event that if the midterms didnt go well for the GOP, I think youre going to lose a lot of money. Axios reported on Monday that there are at least 85 topics that Democrats have said theyd target or are expected to target in the forthcoming torrent of investigations and subpoenas to be directed at the Trump White House.
Those investigations could target everything from Trumps tax returns to, as Rep. Adam Schiff said on Sunday, his administrations alleged targeting of media outlets like CNN and the Washington Post.
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Read more: https://www.mediaite.com/online/trump-claims-prospect-of-presidential-harassment-by-democrats-is-causing-big-headaches-for-stock-market/
njhoneybadger
(3,910 posts)And Apple drop 3%
4du
(56 posts)and if the loss is more than 400 points on the Dow, tomorrow it will be up at some point (not necessarily at the close). However, the trend over the next 2 months will be down. The market is based on expectations. Money flooded into the economy this year via Tax cuts and deficit spending. Year to year company earnings looked very good P/E expanded and the market hit new highs. Next year there will be a less money which will enter the economy to stimulate it. Year to year earnings will not look as good, P/E will shrink and the market will go down. Perhaps even crash if a black swan event occurs.
aggiesal
(8,911 posts)Apparently, based on a current IRS Agents statement, that
the tax bill passed by IQ45 gave everyone more money in their paychecks.
(This is what is stimulating the economy)
https://www.democraticunderground.com/100211312532
What was never mentioned was that the tax tables were not adjusted, they are still the same as before.
So all that extra money everyone is getting, will have to be paid back on April 15th.
For example (And this is just an example. Numbers used are for simplicity),
let's say your gross pay is $2000 every 2 weeks is $52,000/yr.
In 2017 after paying payroll taxes your net pay came out to $1000 per pay check.
The new IQ45 2018 tax break for the middle class now gives you an extra $200 per paycheck,
so your net pay is now $1200 per paycheck. That's an extra $5,200 per year.
Unfortunately, that's $5200 that should have been paid as taxes, because the tax tables
were never adjusted for that money to be un-taxable.
You'll get hit with an extra $5200+ in taxes on April 15th.
This is just pure evil.
4du
(56 posts)He is laying the groundwork now to blame the Democrats when the shit hits the fan next year. In economics, there is always a lag between the cause and the effect. We must make sure that we separate ourselves from his economy. Forget hearings on impeachment and his personal affairs, most average people do not understand their importance. Instead, hold high profile hearings on the long-term effects of his economic policy on the average person.
aggiesal
(8,911 posts)that they are spending their taxes?
Do you think hearing will work?
I've been setting money aside just like that IRS agent is doing, to cover
the taxes I know I'll be incurring.
unblock
(52,199 posts)moreover, the market knew democrats would launch investigations the minute it was clear we retook the house, which itself was widely predicted and largely already priced in to the market.
there's not been any particularly huge political news *today* that would affect the markets *today*.
benld74
(9,904 posts)The stock market is not a sentient being
I believe you arent either
4du
(56 posts)agingdem
(7,848 posts)so the market dipped way way down and looked like it was crashing when the GOoP had control of the House and it was whose "fault"? certainly not the insane tariffs and and the rising interest rates under the Trump's guy and the tax cut for the wealthy and the fact that the immediate world hates Trump's guts...btw...the GOops still control the House (until January)..so the market is tanking in anticipation of the Dem takeover? isn't there a word for someone who is forever a victim and a hero?..sociopath comes to mind
The Dems won't take the House till after January 1st. WTH is the orange buffoon talking about?
rurallib
(62,406 posts)he's got nothing else and his insane economic policies are bound to run into a wall at some time.
John Fante
(3,479 posts)didn't buy it then, I doubt they'll buy it now.
Stonepounder
(4,033 posts)Benghazi
Hillary's emails
The Clinton Foundation
Obama actually born in Africa
Obama hung in effigy
Obama portrayed as witch doctor
IOKIYAR
duforsure
(11,885 posts)Behind cutting over a trillion and a half from Medicaid, Medicare, and Social Security, and sabotaging the ACA driving prices sky high, and causing prices to go up from tariffs , and his new NAFTA causing auto prices to rise $4k - 8k per auto, and gives the wealthiest people in this county trillions from their tax fraud bill, and now is claiming his investigations is causing the stock market to crash, give me a break. He's such a fraud, and a conman.
KY_EnviroGuy
(14,490 posts)............
Racerdog1
(808 posts)Orange spray tan and yellow hair dye are tanking.
C_U_L8R
(44,998 posts)Do they sit in some dark cave dreaming up one catchy deception after another. And they've kept their distribution system remarkably secret - is it just a massive email list or are they still on fax machines?
fierywoman
(7,683 posts)Iowa420
(19 posts)because it's the only one they got right now..
LiberalFighter
(50,892 posts)Ccarmona
(1,180 posts)Exploding government debt, weakened corporate earnings, and economy. All due to the Repugs polices of doing nothing but raiding the Treasury and handing that money to the top 1%
Cosmocat
(14,563 posts)nm
Maxheader
(4,372 posts)The Dow fell more than 500 points on Monday, dragged down by investors' concerns about the tech sector and the rising dollar. The Nasdaq fell 2.6% and the broader S&P 500 fell 1.7%.
The strong dollar also weighed on stocks. The US currency surged to a 16-month high because investors fear the European economy could stall if no Brexit deal is reached this week. Prospects of another rate hike from the Fed next month have also helped lift the dollar. The rising dollar is a signal of a strong economy, but it hurts sales and profits for American companies that do business overseas.
beachbum bob
(10,437 posts)beginning of trumps whining.
kimbutgar
(21,130 posts)SWBTATTReg
(22,112 posts)Fullduplexxx
(7,857 posts)Nitram
(22,791 posts)ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha, ha....
Vinca
(50,267 posts)MaryMagdaline
(6,853 posts)If you can't take the heat (or rain), RESIGN NOW!
libdem4life
(13,877 posts)sittin' in the garden eatin' worms. Poor me.
Bfd
(1,406 posts)Its called indictment.
The_Counsel
(1,660 posts)That's it. Point made. As you were.
Haggis for Breakfast
(6,831 posts)I could not have said it better.
TexasBushwhacker
(20,174 posts)And that includes indirect ownership through mutual funds, 401Ks, etc. Only 54% of American households own any stock whatsoever.
https://www.npr.org/2017/03/01/517975766/while-trump-touts-stock-market-many-americans-left-out-of-the-conversation
olddad56
(5,732 posts)with a 40% tax cut for corporations beginning in 2018, wouldn't that make the corporations bottom line look much better this year? and if so, what will be the effect in 2019 of that cut being priced into the corporate bottom line beginning when they start reporting earnings in march for the first qtr of 2019?