McRocket
Gold Member
- Apr 4, 2018
- 5,031
- 707
- 275
- Banned
- #1
'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.
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.
