August 23, 2019

So what happened today was markets were recovering nicely from the China-Trump feud, then China announced new retaliatory tariffs. Then Fed Chairman Jerome Powell gives a speech at the Jackson Hole (don't get me started) which calmed the markets.

But wait! Trump is about to effing tweet something that will cause the markets to crash again! (Is he short-selling? Please find this out, Congress.)

The CNBC panel has had enough. Jim Lebenthal is a partner at Cerity Partners.

JIM LEBENTHAL: This idea of forbidding companies, or in any way preventing US companies, from doing business in China, has to be the most stupid thing I have ever heard in my life. Are you gonna tell Boeing they can't sell planes in China? ...I try to remain measured, but I gotta say again, this is the stupidest idea I've ever heard."

The panel also included Steven Weiss of Short Hills Capital Partners, who said that the biggest risk to the market is Trump:

Quote of the day from Tengrain at Mock Paper Scissors, "Local Communist Seizes Means of Production"

I thought I was done for the morning, but holy shitballs, our Stable Genius, King of Israel, the Chosen One, Comrad Trump continues to prove to us that the 25th Amendment needs to be invoked now.

UPDATE: The fascist-in-chief is all about wrecking the economy here and abroad. Dow futures are down almost 600 already. By Monday, your 401k will be toast. Who profits? Let's follow the money and market manipulations to see.

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