Market Goes Down Blame The Media-Podcast 631

Market Goes Down Blame The Media-Podcast 631

Sudden scandal engulfs Washington. A one day market drop is blamed on media ‘persecution’ of the president. Is this possible? Can the media cause a drop in the markets? In Market Goes Down Blame The Media-Podcast 631.

Russia Was A Dead Issue. Then Trump fired Comey

Not too long ago we were talking about ACA repeal, Tax Reform and Foreign Policy. The only people talking about Russians and Trump were the former Democratic Presidential Candidate and the new chair of the Democratic National Committee. Then, Trump fired the FBI director. That put Russia and Putin back on the front burner.

Trump’s Twitter Feed and Political Mistakes

Now, we’re talking about the latest White House debacle. Not congressional progress on key economic issues. Seemingly, without warning, the market is down! It has to be the media’s fault! Right? We’ll talk about it in Market Goes Down Blame The Media-Podcast 631.

Why Invest?

Investors put their money in markets in the hopes of taking advantage of future growth. With the election of a business man as president, some investors were willing to bet on the future. Health Insurance and Tax Reform. A stronger US Foreign Policy. Less regulation. Progress on the kinds of economic legislation that seeds growth. Or at least that’s the story.

Things Aren’t Getting Better

Truth is, the US economy has been holding in place for nearly ten years. While the markets have been fueled by central banks buying securities and low interest rates, main street has been struggling. The business man president who was supposed to fix main street has done nothing but make speeches, sign executive orders and complain about the media coverage he’s getting. Meanwhile, 1st quarter US Growth was a mind-blowing .7 percent.

The US President Is Not A King

Fact is, the US Presidency is not a dictatorship. US presidents are answerable to congress, the courts and the law, not to mention state and local governments. The presidency itself is mainly a political office. To be effective and memorable, a president’s agenda has to be backed up with legislation. That means the president has to work with congress to get it done.

Rhetoric Doesn’t Work

President Trump has a lot of ideas. He talks about them all the time. Talk is cheap. There’s no action on Tax Reform, ACA Repeal, the Budget, Regulation Reform and trade. Why? Not because of the media. We have a president who likes to talk. He doesn’t like to lead congress to take action. In Market Goes Down Blame The Media-Podcast 631.

Republicans Don’t Want To Talk About Politics Anymore

In January most republicans were on top of all the latest developments in Washington and their new president. They were especially prickly about criticism of Trump. Suddenly they have other things to do. Don’t want to talk about politics. Given the obvious missteps by the president it’s easy to forgive the desire to blame the media for all that is wrong. This time though, the blame lies directly at the president’s door.

Money Talks…Bullshit Walks

Traders want action. Not talk. Investors don’t make decisions on today’s news stories or rhetoric from the president. They’re looking out into the future and investing in future growth. The top political leader in the United States is President Trump. He sits astride a republican White House, Senate and House. Yet, he hasn’t been able to get anything done. Maybe that’s why the markets are down.

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Market Goes Down Blame The Media-Podcast 631

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Trump's Comey Con 2017-Podcast 629

Trump’s Comey Con 2017-Podcast 629

President Trump fires FBI director Comey. The advocacy media goes crazy. Everything Trump does is wrong. Whatever Trump does is right. Everyone wants to hear what they want to hear. Republicans are good/bad. Democrats are bad/good. My team is better than your team. This is not an informed populace. This is the Roman Chariot races. In Trump’s Comey Con 2017-Podcast 629.

Media At Its Best

A blizzard of reaction, meetings in the bushes, comments at press conferences, tweets and opinions about what happened makes it impossible to advance the story. The President can fire the FBI director if he wants. No it isn’t unprecedented. Yes it is unusual. Bill Clinton was the last president to do it. Yes a President should have the people he wants in his administration.

That’s My Story and I’m sticking To It. Or not.

Believe what you want. Trump wanted to fire Comey from the get go. Or, Trump decided quickly he’d had it with Comey’s showboating and decided to fire him. Or, Trump fired Comey because the FBI director wanted more money for continuing the FBI probe of the allegations Russia tampered with the 2016 election. Pick and choose your truth.

Good Luck

If your two sources of information are the local talk radio station and a cable show in the evening you won’t know much. If you read all the columns and commentary from pundits trying to persuade people the red team is right, or the blue team is right you’ll be more confused. The commentary masquerading as news goes many layers deep. Actual reporting is scarce. Facts are dear.

What Do You Actually Know

Partisan reaction obscures a very important question. What is the truth regarding allegations of attempts by the Russians to influence the US Election? Is it true Trump campaign officials colluded with the Russians in an alleged effort to influence the US Election? Did the Russians work on behalf of the Trump campaign? Was then candidate Donald Trump aware? Did Trump collude with the Russians?

Firing the FBI director has done nothing but open a festering wound. Do you know whether there was collusion between the Russians and the Trump campaign? Your congressmen and senators do not know either. We will eventually have to have a special prosecutor to settle the question. As this process works itself out, you and I will know even less.

Who’s Minding The Store?

Meanwhile not much is getting done, despite the first 100 days ballyhoo. The so called ‘ObamaCare repeal’ bill languishes in the Senate. Courts have tied up the most significant of the Trump executive orders, while others merely direct studies to take place or involve the normal process of running the executive branch. Congress passed and the president signed a budget that looks like a holdover from the Obama administration. This is draining the swamp? This is a new day?

Advice From Talk Show Hosts

Right wing talk show hosts are suddenly talking about how Trump can’t be Trump, or why we need a constitutional convention that mysteriously would only include ‘conservatives’. And yet, Trump appears to be doing quite well at being himself in spite of all the advice from those knowledgeable talk show hosts. Just look at his tweets.

Well. At least we’re not talking about a crisis in the middle east or North Korea.

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Trump’s Comey Con 2017-Podcast 629

 

 

 

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