Interesting speculation by Bob Cesca in Salon. Can he be right? Can Fat Donny’s uniformly disastrous economic policies be nothing more than market-rigging for his own profit? The ultimate insider, trading? Why not? It makes sense when no other explanation does, not even stupidity. A total moron would stumble now and then into sound economic policy.
…Worst of all, Trump has clumsily staggered beyond the ludicrous economic policies of the Bush years to further destabilize financial markets, including your 401k accounts and the future security of your employment. Specifically, the president’s trade war of choice against China has turned a steadily rising Dow Jones average, through 2017, into an unstable sawtooth pattern with massive single-day declines that are now tempting a full-on 2008-style collapse.
If you don’t believe me, check out the markets from January to March of 2018, during the months immediately following Trump’s tax cut. Normally, a tax cut would drive the financial markets upward. But in March of 2018, just a few months after the bill was signed, Trump stupidly launched his trade war by announcing 25 percent tariffs on steel and 10 percent tariffs on aluminum, applied to all of our trading partners. From those months onward — including today, as I write this article — the Dow, S&P and Nasdaq have been unstable messes.
At risk of burying the lede, I have a theory that Trump and his cronies may be manipulating and shorting the markets, reaping vast profits off the declines. Every time Trump tweets or blurts new tariff threats or economic bellicosity aimed at China, the market takes a dump. As we all know, Trump hasn’t divested from his business interests. We also know that Trump has manipulated the markets before, based on a massive investigation in the New York Times indicating that Trump engaged in a scheme with his dad, Fred Trump, known as “greenmailing…”