President Trump was on twitter again this weekend, and now he wants to take credit for cutting the national debt. Seriously? He’s been in office for about 5 weeks and – voilà. Yes, it’s really that easy. He should do an infomercial about how easy this all is. The President and his supporters took credit for the “surge” in Holiday spending. And they are taking credit for the “surge” in jobs coming back to America, and the “new” bull market in stocks. Of course, keeping it hush-hush that the stock market actually bottomed on 3/6/2009, and had tripled by the time he took office. While they also completely ignored President Obama’s crappy economic policies led to one of the greatest bull markets ever. In fact, both he and his supporters constantly mocked (as did I) Barack’s laughable claims about how the strong stock market was “proving” his policies were working. President Trump, in 2015 claimed stocks were in a bubble, and we totally disagreed with him then, and still disagreed with him when he repeated his false claim 6 months ago – “big, fat, ugly bubble”. But now as the stock market keeps setting record highs, it’s somehow great and super and downright bullish. Seriously? And what about all of the wild claims about the President’s great US$ bull market. Yet after this completely normal and re-strengthening selloff in the $, now those claims are not heard anymore. So we now move forward and we hear all of the (incompetent) claims about all of the great things which the new President has “accomplished”. But in fairness we have to recognize this incompetence is par for the course, as all new Administrations make false claims. But as to Trump’s claims about his great debt reduction policies we can add this – the biggest part of the future liabilities, Social Security and Medicare, will see no cuts in the Trump budget. So no cuts to the entitlements, a massive infrastructure plan, and big tax cuts, and voilà. Seriously?
About traderscott 1110 Articles
Trader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day. Scott returned to markets over fifteen years ago where he continues as an independent trader.
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