Friday, January 8, 2016

Donald Trump on the Stock Market and Economy

Filed for future reference.

"Be very conservative, because it could be very rough out there. And who can fix things better than me?" Trump said at a Burlington, Vermont presidential campaign rally on Thursday.

"If Iran were a stock, buy it. OK? By the way, speaking of stock: You see the bubble, a little bubble. It's starting to go a little bad. Some bad numbers coming out. Some really bad things. And you better be careful. Be careful," he said

In a Fox News "On The Record" interview that aired Thursday evening, Trump also said China's economy was resting on a "little bit of a bubble."

"They're sitting on a little bit of a bubble — it could be a lot of bubble," Trump said. "But we're sitting on a bubble also. So China's [economy is] going to go up 6.5% and we're going up 2%. And we're sort of satisfied at 2%. I'm not satisfied, but a lot of other people are satisfied. And we shouldn't be satisfied with that number. We should be doing much better."

[RW note: Okay so, on top of it all, he puts faith in the highly questionable GDP numbers, which are even more dubious for China.]

Host Greta Van Susteren asked Trump whether the turbulent stock market was President Barack Obama's fault.

"The buck stops with the president," Trump replied. "He is in charge of things. And we've had a very, very, mild uptick. It's been, I guess it's been the slowest [recovery] since the [Great] Depression in terms of going up."

"I see Macy's is doing very, very poorly," Trump said on Fox News. "Their stock is down tremendously. So many other companies are doing poorly. So the stock market now is catching up with the real economy."

He continued: "The stock market's been taking a big hit for quite some time now. So, ideally, I hope that's not happening. But it's obvious that we're not doing very well as a country in many respects. We're not doing well with ISIS and we're not doing well with anything. I mean, where are we doing well?

[RW note 2: There is no indication Donald Trump understands anything about the business cycle or the role the Federal Reserve plays in the cycle and the economy.]


(ht Business Insider)

1 comment:

  1. Agreed with RW:"There is no indication Donald Trump understands anything about the business cycle or the role the Federal Reserve".

    On the other hand, there's also no indication the rest of monetary interventionists, and neo-keysians in the whorehouse known as Washington know anything about the cycle, economy, and money either. Despite their PhD's , or credentials!