Trump warned that a Democrat win would crash the market
S E E D E D C O N T E N T
President Trump has been proven right after warning America's rich that voting for Democrats in the 2018 midterms would crash U.S. stock markets.
The president took to Twitter on October 31 to warn : "The Stock Market is up massively since the Election, but is now taking a little pause – people want to see what happens with the Midterms. If you want your Stocks to go down, I strongly suggest voting Democrat. They like the Venezuela financial model, High Taxes & Open Borders! Maybe it's time to rebrand the Democrats as the party of the rich."
Many progressive Democrats have been cheering for an American economic disaster, if it would politically undermine Donald Trump's populist support. The host of Politically Incorrect , Bill Maher, who has am over $100 million net worth, passionately stated in June :
I think one way to get rid of Trump is a crashing economy. So please bring on a recession. Sorry if it hurts people, but its either root for a recession or lose your democracy.
Maher seems to be getting his wish since the November 6 elections. The Standard & Poor's 500 stock index led by Silicon Valley tech giant shares is down 10.6 percent in the month for the worst December plunge since 1931 during the Great Depression.
Although Democrats claim to be the party of social justice for the poor, Williams College political science professor Darrel Paul's 2018 analysis of wealthy Congressional districts found that the real story surrounding the Democrat's 40-seat gain to take control of the U.S. House of Representatives was due to "the swing of the rich toward the Democrats."
The nonpartisan OpenSecrets website that tracks Federal Election Commission (FEC) campaign filings for political spending found that midterm spending hit a record $5.2 billion in 2018, up over a third from the $3.8 billion in 2014 and triple the $1.6 billion in 1998.
Republicans in the five prior congressional midterms spent slightly more than Democrats each cycle. But 2018 Democrat candidates spent $2.53 billion versus about $2.20 billion for Republican candidates, a $330-million " blue wave " cash advantage.
OpenSecrets found that Democrats concentrated their funding advantage on the 435 U.S. House seats, where Democratic candidates raised $951 million versus just $637 million for Republican contenders. That gave Democrats a massive 49-percent funding advantage.
The Center for Responsive Politics found that with the rise of Democrat Barack Obama since 2008, Silicon Valley's annual lobbying expenditures skyrocketed by 800 percent , from $17.8 million to $139.5 million. CRP wrote, "Just as water flows downhill, money in politics flows to where the power is."
The TechCrunch named Silicon Valley the " Valley of the Democrats " after PayPal cofounder and top venture capitalist Peter Thiel commented in a 2015 interview that 83 percent of political contributions by the area's tech executives went solely to Democrats.
When Thiel announced he was leaving America's tech capital in February, he commented that although Silicon Valley claims to have been incredibly successful for America over the last decade, "I think the truth has been more one of specific success, but more general failure."
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It's still a republican congress and a republican president. After yelling and screaming that trump and ONLY trump was responsible for the DJIA rising, now that it's sliding downhill... "It's the democrats fault!!!".. Of course it is. And exactly what policies have the dems passed in the last two years that has caused this? None. Not one. Republicans own it.
The single biggest gauge of consumer confidence is the DJIA.. If it falls, that means that consumer confidence is falling. What could be causing that? Trade wars which ONLY benefit the wealthy and severely damage the middle class as consumer products rise in price. Tax cuts for the rich while shitting on the working middle class. And a president that is mentally unstable which makes our biggest allies and trading partners unwilling to trade with us.
Since reagan, the economy has always done better under a democrat president. FACT.
It was a democrat controlled congress and a democrat president that got us out of the worst REPUBLICAN led financial crisis since 1929. When GWB took office, he was handed a country that had the largest economic growth in almost 40 years. When he left office? The country was in the worst shape it had been since 1929....and he had a republican congress for 6 of his 8 years. Spin all you like, the repubs own the "Great Recession".
Small changes affect the market in ~9 months or so, larger changes? ~18 months.... If the stock market is heading downhill...it's ALL on the republicans.
Remember repubs, when you took over congress and won the presidency, the left warned you to not blame the dems because you run the government. Elections have consequences, so OWN it if the economy crashes. This BS of, "well, the dems took the house and over night, the economy fell apart" bullshit simply wont fly.
But who are we kidding, dems haven't even taken over the house and trump is already laying blame... What a fucking moron.
With the gop controlling all branches of government a market crash was inevitalble.
The irresponsible fiscal policy of the damn gop is responsible for the market crash...
So all the good is rump and all the bad is Democrats. Gotcha.
It only makes sense of course if rump is infallible. Which of course makes him...god?
Talk to me about a down market when the DJI hits 15K.
Housing has been sliding, his fucked up rhetoric drove building materials expecially wood up roughly 20%
Offshoring employment didn't stop at day one as he promised it increased in triple digits!
The tax break is going to be analbatros. It's already failing the economy...the US TREASURY will tell you that.
For all his big talk he actually came out of that lunch with a "doggie bag" containing his nuts that the Chinese cut off and handed to him.
All his "accomplishments" I keep getting told that I ignore or won't give him credit for are falling down faster than his Mt.Rushmore to himself of the wall.
So far, he's gotten played by every pain in the ass to the USA with ease. His "tough act" has fooled absolutely noone internationally. He's become the Ahmadinejad of the western world..
And now these recent disasterous unilateral decisions made without even consulting the envoy he didn't even know existed.
The market, which was "his market" he took credit for suddenly became the Dems fault when it dropped 2000 points which was also warned ahead of time and could have been avoided if proper leadership was administered, but it wasn't because although he may understand "money" he doesn't understand finances, evident now and certainly throughout his business history.
This doesn't belong to the Dems. This squarely belongs to Donald Trump and his supporters.
The worst isn't over yet.
This is one of the more disingenuous seeds we have seen, although the cause for that is all Trump's.
He simply wanted to create a "win-win" for (surprise!) himself.
If the market sunk it was someone else's fault, if it stayed high it was his doing.
This deceitful idea may appeal to Trumpsters, but everyone else laughs at it.