Trump Amps up the Hypocrisy in Tweet Torching Stock Market Bears

May 13, 2020 7:22 PM UTC
Donald Trump has done his best to pump the stock market since day one. And now he has the gall to claim Wall Street has an agenda?
  • Donald Trump torched stock market bears on Wednesday, alleging they have an agenda.
  • It’s amazing the president can say this with a straight face.
  • The White House has been using the stock market for political gain since day one.

President Donald Trump delivered one of his trademark unhinged tweetstorms on Wednesday, accusing hedge fund bosses of trying to manipulate the stock market for their own gain.

This is extremely rich coming from a White House that does its best to pump the Dow Jones at every single opportunity.

Straight-Faced Trump Claims Wall Street Has a Stock Market Agenda

Trump isn’t happy to see stocks a long way from record highs, but he’s probably a lot more sanguine about the Dow than he was in mid-March.

It’s obvious that he’s not eager to see stocks retest their March 23 lows, and he’s quickly growing tired of Wall Street analysts warning that the recovery has outpaced its fundamentals.

Source: Donald Trump via Twitter

As with all the best deceptions, the U.S. president is not completely wrong. He typically sprinkles his often dubious comments with a garnish of truth.

Wall Street is a war-zone, and with everyone out for themselves, it’s safe to say that you should always be well informed about any advice you take.

Still, the “rich guys” are rich for a reason. You should listen to them – even if you should take their forecasts with a grain of salt.

Then again, Trump’s statements deserve a heavy dose of scrutiny too. And what’s most hilarious about this statement is that few people have sought to leverage more political gain from the stock market than the president himself.

Is it any surprise his attack on Wall Street bears came on a day with the Dow down 500 points?

It’s not surprising Trump chose today to unleash his attack on stock market bears. | Source: Yahoo Finance

With November quickly approaching, Trump knows it’s extremely difficult to lose as an incumbent presiding over a strong economy and soaring stock market.

That’s why we used to hear about it on an almost daily basis.

Source: Donald Trump via Twitter

When the Dow is down, it’s someone else’s fault, and when it’s up, it’s all on him.

That was never more clear than when he sent an autographed Dow Jones chart to Fox Business Network host Lou Dobbs. (Then the DJIA plunged another 20% over the next six trading days.)

Source: Twitter

Even the Trump administration’s fiscal policy has been laser-focused on maximising stimulus for the stock market.

The president’s support base is largely spread throughout rural America, but he still pushed through a significant tax cut for corporations (that raised taxes for more than 10 million Americans) to create the “Trump bump” that was mostly erased this year.

Perhaps the biggest takeaway from Trump’s tweets, or those of any member of his family – or even poor old Larry Kudlow – is that the White House absolutely has an agenda.

The administration has lots to gain (or lose) from the state of the country’s 401(k)s.

Source: Donald Trump via Twitter

So do the hedge fund managers, of course.

But don’t let the politicians convince you they don’t have skin in the game as well.

Disclaimer: This article represents the author’s opinion and should not be considered investment or trading advice from CCN.com. Unless otherwise noted, the author has no position in any of the stocks mentioned.

Josiah Wilmoth edited this article for CCN.com. If you see a breach of our Code of Ethics or find a factual, spelling, or grammar error, please contact us.

@bullishtulips

Financial speculator & author living in the hills in Los Angeles. J.D. but very much not a lawyer. Favorite trading books are anything written by Jack Schwager. | Follow Me On Twitter | Email Me | Article Compilation On Muck Rack | My Website