According to the NYT Trump is freaking out about the markets and blaming Mnuchin and Jerome Powell

[DemocratSinceBirth]

WASHINGTON — President Trump has unabashedly hitched his political fortunes to a rising stock market. Now, with stock prices in retreat, he has become increasingly fixated on the idea that one man is to blame for the recent rout: Jerome H. Powell, chairman of the Federal Reserve.

After the Fed raised its benchmark interest rate on Wednesday, the fifth consecutive quarterly increase, Mr. Trump fretted to aides that Mr. Powell would “turn me into Hoover,” a reference to the man who was president in the early years of the Great Depression.

Mr. Trump has said choosing Mr. Powell for the Fed job last year was the worst mistake of his presidency, and he has asked aides whether he has the power to fire him.

But the volatile stock market, which just posted its worst week since 2008, is falling in part because of Mr. Trump’s own policies, including an escalating trade war with China, a shutdown of the federal government and the fading effects of the $1.5 trillion tax cut Mr. Trump ushered in at the end of 2017. While the Fed’s rate increases have upset investors — who seem to have a darker view of economic growth than the central bank does — some analysts said Mr. Trump’s musings about the Fed would only exacerbate anxieties.

...

https://www.nytimes.com/2018/12/23/us/politics/fed-chairman-trump-jerome-powell.html?action=click&module=Top%20Stories&pgtype=Homepage

It's as if Trump is doing his best to channel Herbert Hoover. This is no longer an academic exercise. I am genuinely concerned this cast of clowns will cause a major recession.

[PubliusEnigma]

1. It was his shield, but he had nothing to do with creating it. Now it is gone. He feels exposed.

[CharleyDog]

28. the fig leaves he can hide behind are getting smaller and smaller. nt

[PubliusEnigma]

2. An Economic Fever is the one thing that could cure us of the Trump Virus.

[DemocratSinceBirth]

3. Trump wants cheap money. The problem with that...

Trump wants cheap money. The problem with that cheap money becomes worthless money and a loaf of white bread will cost five bucks.

[Cartoonist]

4. He never gave Obama credit

for giving him a growing economy. He took all the credit himself. Now he has to eat the consequences of his policies.

[bitterross]

20. That will never happen. Trump, taking accountablity - LOL.

He will, I hope, suffer the consequences of his actions despite his never having had to in his life. Not just at the federal level. But after he's out of office at the state level. He's got a lot of 'splaining to do. I hope all of it is under oath in depositions and in courts.

[PatSeg]

5. "The worst mistake of his presidency"???

How do you choose, there are more "worst mistakes" than we can count!

[Maeve]

7. The worst mistake IS his presidency!

Not one DUers made, however...

[Roland99]

9. Bingo! And the Ryan Congress!

[PatSeg]

11. Yes

That's one superlative that we can ALL agree on. Even Trump knows that the presidency was the worst mistake in his life as well.

[The Liberal Lion]

32. Boom

Spot on

[UniteFightBack]

13. This is true. But the economy effects everybody....even deplorables. If him tanking the economy

destroys him SOONER and helps put a nail in his coffin then so be it.

[PatSeg]

14. It is like trying to destroy a freak monster

in a 1950s B-movie. Throwing every weapon at it and it keeps coming back. Yes, maybe THIS will be the final nail in his coffin.

[bitterross]

22. He will blame any downturn on the Democratic House. His cult will believe him.

He will blame the Democratic house for any and everything bad that he causes in the next two years. As we have seen to date, his cult will believe him.

[The Liberal Lion]

33. Who cares what they believe anymore?

They are riding on the crazy train which is positioned on the highway to hell. Their opinion no longer matters. Those who follow trump are the enemy of our country.

[DemocratSinceBirth]

39. Who cares what those dead enders think

The mid terms prove they are a minority

[bitterross]

40. They still vote as a block.

They still vote and every vote he gets allows him the chance of manipulating the election. The 80,000 votes in the mid-west that cost Hillary the election are why I care.

[DemocratSinceBirth]

42. They are no where near a plurality or majority.

Trump lost the popular vote by 3,000,000 votes to the second most unpopular major party presidential nominee, deserved or not and I would argue not, in the history of presidential elections and won the Electoral College by 55,000 votes in WI, PA, and Mi. He was the most unpopular major party candidate in history but out of the twenty percent of the electorate who disliked both of them he won the lion's share because he was seen as the change agent.

Subtle demographic shifts guarantee that if the Democratic nominee does as poorly or well as Hillary Clinton, depending on your vantage point, he or she wins the popular vote by 3,000, 000 votes and wins the Electoral College 279-259:

• 2016 baseline: Democrats would win the popular vote by 3 points, and they would take
back Michigan, Pennsylvania, and Wisconsin to carry the Electoral College 279-259.

https://www.prri.org/wp-content/uploads/2018/04/States-of-Change-2018-Americas-Electoral-Future.pdf

With mounting investigations and a sinking economy Trump will be lucky to get 45% of the two party vote and 200 Electoral College votes.

I will call it now. The Democratic nominee wins every Hillary state and WI, PA, MI, FL, NC, and AZ. GA and TX awill be on a razor's edge,

[bitterross]

45. I think you have a good analysis.

I see your points and I think they make sense. Thanks.

[DemocratSinceBirth]

46. You're welcome. Happy Holidays.

[bitterross]

47. Happy Holidays to you too! /nt

[robbob]

16. TRump seems incapable of understanding:

If HE appointed the Fed chair, and the Fed is to blame for tanking the economy (not true, but if that’s the lie tRump wants to go with), then it is HIS own fault for the tanking economy.

A much better man and president then you, mr. tRump once said “the buck stops here”. Time to start taking responsibility for YOUR decisions, you ignorant oaf.

[PatSeg]

24. Nothing is ever Trump's fault,

though he readily takes credit for anything positive. An alarmingly disturbed man!

[Yonnie3]

31. the 'rump does believe that "the buck stops here."

"Here " being in his pocket.

[Bernardo de La Paz]

30. He's said "worst mistake of my presidency" before about other people. . . . nt

[Jarqui]

6. He knows if the market goes down, jobs will go with it and he'll have nothing left

but the dumbest hangers-on for support. In other words, he's finished.
The GOP will protect their wallets before him.

[DemocratSinceBirth]

8. I believe our candidate can mirror President Obama's 08 map if we are in recession

However we lose OH and In and pick up AZ and GA

[elocs]

10. The consensus of this Forbes article is that a recession will start late in 2019.

https://www.forbes.com/sites/johnmauldin/2018/05/09/7-smart-market-thinkers-predict-when-the-next-recession-will-start/#15bf129b44e1

Great, with a record deficit another Democratic president will be forced to clean up a Republican mess.
But Trump has to be very worried about a recession starting in the next 2 years. He would get the blame but he would never take it.

[Generic Brad]

48. I've got news for Forbes. It has started already

Have they looked at the stock market lately?????

[beachbum bob]

12. people around trump need more crayons and paper to draw trump pictures he can understand

[Martin Eden]

15. All this makes sense when you consider that Trump is

Putin's puppet.

[The Liberal Lion]

35. Exactly

He's a traitor. He knows he is going down, and he's trying to take the country with him. Unfortunately he will probably succeed. Be ready.

[AlexSFCA]

17. I think it won't be recession this time but 2nd great deression

default on corporate debt, record high government debt, global economic slowdown, massive layoffs resulting in colossal drop in housing, etc.

[The Liberal Lion]

37. Yep

There is no fallback this time. No QE, no stimulus, nothing. Tough times are coming my friend.
We, that is the foolish sector of the electorate, gave control of the government and our economy once again to the same morons who totaled it after it had been made at least operable again. And if there was any doubt that it was the GOP that caused our near economic collapse in 2008 we had the example of Kansas and Sam Brownback to look on to. The fools gained control again, and it will be all of us who shall have to pay.

[Hermit-The-Prog]

41. GOP Greed Guts Gains

Looks like a New York Post headline, but it fits.

[PeeJ52]

18. Who would have thought that if you give the 1% most of the tax cut

then only 1% of the economy would be affected. If you give a tax break to the other 99% then they will affect 99% of the economy.

[malchickiwick]

19. This asswipe makes Hoover look like John Maynard fucken Keynes

[keithbvadu2]

21. Trump/Fox take full credit when stock market goes up. ... give full excuses when stock market goes

Trump/Fox take full credit when stock market goes up.

... give full excuses when stock market goes down.

[workinclasszero]

23. "I am genuinely concerned this cast of clowns will cause a major recession."

It was inevitable from the moment that lying jackass first slithered into the White House.

It's what republicans do.

Demagogue moronic blubbering idiot republicans (tRump) are more likely to send us into a major depression so batten down the hatches, 2019 is gonna be a hell of a ride!

[moreland01]

25. Cash

I moved over 50% of my portfolio to cash back in Dec 2016. Saw the writing on the wall that our Douche in Chief would eventually cause calamity. I didn't go 100% because my husband convinced me that if trump cared about anything it's about the stock market.

If the market crashes, people won't buy his properties.

[SWBTATTReg]

29. Smart. At least 1 thing positive in the markets going down is that the 1%ers are taking a...

big hit! Serves them right for the most part (they are some people out there I don't wish this on, but not many). Happy Holidays!

[SamIam715]

26. What? Another "worst mistake?"

Oh, donald, how many of these do you get... "[insert name] was the worst mistake of his presidency," good thing you only hire the best people, doubtful this country can survive many more of these worst mistakes.

[unblock]

27. he's the losing football coach who say we lost due to the terrible quarterback and a bad kicker.

he's the husband who blames his wife for... everything.

he's the leader who has only has bad things to say about his team, with pretty much the only exception being just when they're starting the job.


his textbook dysfunctional psychology aside, he's also a textbook case on how not to manage.

[Docreed2003]

34. It's never his fault...never his responsibility

And his "cult" just eats this shit up

[Hoyt]

36. He should be, but I think many of the pundits are just making stuff up

and have no idea what trump is feeling. I doubt so-called “insiders” really know how he feels.

[Iliyah]

38. I have a "gut" feeling

that he is extremely pissed - golf . . .

[NightWatcher]

43. Look around dingleberry, it's not everyone else. It's you!

[indie_voter]

44. I don't believe this paragraph:

After the Fed raised its benchmark interest rate on Wednesday, the fifth consecutive quarterly increase, Mr. Trump fretted to aides that Mr. Powell would “turn me into Hoover,” a reference to the man who was president in the early years of the Great Depression.

There is absolutely no way he knows who Hoover is. Let alone who was President during that time period.

[rampartc]

51. also doubt that a "positive thinker" like trump

sees the inevitable result of his party's policies.

[ck4829]

50. Kick

[Mike Nelson]

52. He benefited from the...

… Obama economy during the first year... after that, his policies have more of an effect. His supporters will blame Obama or Clinton - they will find something they did and say that's to blame for a bad economy.

[calimary]

53. And will be as big a lie on their part as anything that's ever come out of his

lying phony-ass filthy excuse-making mouth.