Trump warns impeachment will crash the market and make everyone 'very poor'—here's what experts say

Discussion in 'Economy' started by McRocket, Aug 23, 2018.

  1. McRocket
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    McRocket VIP Member

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    'The U.S. stock market has generally been doing well under President Donald Trump, but the President warned TV audiences on Thursday morning that that would change were he to have to leave office. "If I ever got impeached, I think the market would crash. I think everybody would be very poor," he told Fox & Friends.

    Experts are skeptical. "It's a ridiculous remark — the kind of thing a Latin American dictator or a Middle Eastern strongman would say to keep supporters in line," Josh Brown, CEO of Ritholtz Wealth Management, tells CNBC Make It.

    Brown, a CNBC contributor, points out, "President Pence will be just as friendly to corporations and just as supportive of low taxes, as would any other Republican." So there's little reason to lose sleep over your investments.


    In fact, political events have far less sway over the markets than economic factors, Joseph Davis, Vanguard's global chief economist, tells CNBC Make It. "The history of the stock market shows the more meaningful events for investors and for market influences over a six-month basis or annual basis are economic fundamentals, such as corporate earnings and changes in Fed policy," Davis says.

    To be sure, change can cause market disruption because it increases the "ambiguity premium," Kent Smetters, Wharton professor of business economics and public policy, tells CNBC Make It. "But something like an impeachment probability gets priced in early since it is a long, drawn-out process. So whether markets like it or not, it won't likely lead to a sudden change," Smetters says.'

    Trump warns impeachment will crash the market and make everyone 'very poor'—here's what experts say


    What a completely and TOTALLY moronic thing for Trump to say. No one with a properly working brain with any experience in macroeconomics AT ALL knows this.
    Everyone will go poor if this man-child gets the boot?
    What a total buffoon this guy is.
    He talks like a 10 year old.
     
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  2. JakeStarkey
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    JakeStarkey BANNED Supporting Member

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    Trump is more than narcissistic.

    He is growingly ever more dangerous as President.

    Pence must be thinking of the inevitable AXXV removal process in the near future.
     
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  3. Vandalshandle
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    Vandalshandle Gold Member

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    I always take investment advice from pathological liars.
     
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  4. Cellblock2429
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    Cellblock2429 Gold Member Gold Supporting Member Supporting Member

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    /-----/ The same experts who said the market and economy would crash if Trump was elected?
    Trump_Train.jpg
     
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  5. Meathead
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    Meathead Gold Member

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    Oh come on! Here's what "experts" say?! FFS, everyone knows what will happen to the markets, let alone the country if they try to impeach Trump. The markets would be the least of our worries.
     
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  6. McRocket
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    McRocket VIP Member

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    Did you hear his Fox interview? He sounds like he is REALLY losing it. The man is talking like a child. Jumping from one topic to another...blaming EVERYONE else for all his problems.
    The man would not know intelligence and honor if they fell on his head.

    The 36 most outrageous lines in Donald Trump's Fox News interview - CNNPolitics
     
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  7. Sunni Man
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    Sunni Man Diamond Member

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    Our amazing Pres. Trump is the best president that America has had in decades. .... [​IMG]

    He is a great leader and knows what is best for the country.

    We are truly a blessed nation to have him in the White House. .... :cool:
     
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  8. Meathead
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    Meathead Gold Member

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    Experts say reading or even just linking CNN has a corrosive effect on the users grasp of reality and ultimately, their sanity.
     
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  9. ABikerSailor
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    ABikerSailor Diamond Member

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    I think that is probably the dumbest thing I've heard in a long time. I guess Trump thinks that because he's sitting in the Oval office, that is why the economy is doing so good, and if he gets impeached, the markets are all of the sudden gonna miss him and crash on their own?

    Dumbest statement he's made so far.
     
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  10. Mac1958
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    Mac1958 Diamond Member

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    Bingo.
    .
     

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