I hold this truth to be self evident:
- Politicians should never, ever mention the stockmarket in their speeches.
Why? Because when doing so (always to "talk markets higher") they create the exact opposite result. Professionals immediately interpret this as a sign of weakness and act accordingly.
The Trump administration has been waving the market flag much too often.
- About two months ago in Congressional testimony DOJ's Pam Bondi answered a question about the Epstein files by snapping back that congressmen should instead be asking her about the record highs in the Dow and S&P.
- Yesterday President Trump adressed the Nation on the Iran War, and said "Stock prices will rapidly go back up. They haven't come down very much, frankly".
There are many more such quotes from various administration officials, some proudly mentioning Americans' 401k's as sources of increasing wealth under the Trump presidency, etc.
Bad.
