Trump Now Taking Credit for “Cutting the Debt”
February 26, 2017
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 marketwas “proving” his policies were working. President Trump, in 2015 claimed stocks were in a bubble, and I 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
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.
'Trader Scott’s Market Blog – Trump Now Taking Credit for “Cutting the Debt” – February 26, 2017' have 6 comments
February 26, 2017 @ 7:26 pm Larry
Scott,
Seeing as you brought THAT up.
We both know that neither Trump or anybody else is going to stop the tsunami of crap heading our way as a nation. You don’t really think that anyone, in any branch, of any government has the will, or desire, to fix that train wreck!? The big picture here is that the only chance we have is for someone, like a Trump, who has enough courage to call these lying sacks of puke for what they are. All his life he was on the other side of the trade on that deal, having to pay juice to those clumps of human feces who call themselves “public servants”, just to do business. He may not be able to save the dollar but at least small business and the constitution MAY stand a chance with him. WE might be able to built from there.
He also gives us something else to talk about. Seriously, who can believe that the biggest problem we have is the constant assault on the civil rights of a relative few who want to use the other genders’ toilet. That’s what’s keeping people up at night?
The way I look at it, I voted for him and will be patient a lot longer than CNN says I should be. Like I always say, it is what it is.
February 26, 2017 @ 7:45 pm traderscott
Yes let’s give him some room, it’s still early on. But my “job” in markets is staying unbiased, so paying attention to the fake crap which comes from any politician is a must. He has to prove himself first. The media is useless on all sides of the spectrum, so just cobbling together the “facts” is a chore. Every President I’ve voted for so far has sucked, so my track record ain’t great. Hopefully I didn’t blow it again this time. But Larry who could possibly believe Trump can stop the impending (short-term technical position aside) multi-decade bear market in bonds, the loss of belief in the omniscience of braindead central bankers, and the massive European and Japanese problems.
February 26, 2017 @ 8:51 pm Larry
Scott, me don’t even think he even understands it. How the hell can he fix it. He’s a hotel guy, a building builder, a showman and a carnival barker. But he is no entrenched politician and THAT’S what I like about him and THAT’S why I’ll give him a wide berth and plenty of chances.
Listen brother and this is no lie;, I was 12 years old when my 18 year old brother Rick got his head, literally, blown off fighting a political war in the tropical land of Vietnam. He played the sax in high school band and his recruiter convinced him that he would play in the Marine Corp Band. Well, as the now famous Marine Gomer Pyle used to say, “Surprise, surprise”! He ended up in 1st Battalion U.S. Marines in the province of Quang Nam sending recorded tapes home to my mother saying how much he hated it. One thing about fighting or killing another human being, if you’re a normal person it can be rationalized if you do it protect your loved ones or your property or your freedom. But to do it because it is political expedient, hard one to swallow.
And the whole time it was being run by the same types running things today, many of whom protested it and called the soldiers there “baby killers” and “murders”. And most of these wipes that are protesting Trump are the same ilk, or being run by the same people, that hated the soldiers and the whole concept of the United States.
So no, Trump won’t solve the problems of the dollar or the s**t storm coming but he sure is kicking the hell out of those self-righteous know-it-alls who think they know what’s best for us and how “Life, Liberty and the Pursuit of Happiness” should be applied to our lifestyles.
And as another famous Hollywood soldier of the Vietnam War said, “That’s all I have to say about that.”
Btw, if you get a chance check out IMDZ, NZ & DVAX (Biotech). I’m watching NZ & DVAX and may take bite in IMDZ
February 27, 2017 @ 1:20 am traderscott
The biotechs are a bullish group long term, but they are a tough one stock by stock. Whatever your method/analysis buying into the weakness is really important. I am interested in Immune Design, and will do some work on it, but it has some interesting technical setups. The thing with some of these stocks is they’re mostly trading stocks – you see that support area below.
I’m a libertarian Larry, so there’s no love for any politicians. They all love their wars. The SJW types/leftists have turned into the new McCarthys. How did that happen? BTW, Robert Kennedy was a big admirer of Joe McCarthy, so it’s all weird.
February 27, 2017 @ 8:57 am Larry
The Kennedy’s, as a whole, were an enigma. I’m in New England, right over the border of Massachusetts so you don’t mention a Kennedy without “Saint” in front of the name. And talk about the kids suffering for the sins of the father (I betcha old Rose had to have rethunk hooking up with Pappa Joe once or twice in her lifetime).
The democrats of that time were what the “moderate” republicans are today (“Ask not what your country can do for you, ask what you can do for your country”). As for you being a Libertarian, one would have guessed that from your “tirades” (I say that with all due respect having that same impulsive nature, although my kids say it Tourettes. But I begs to diffa).
Anyway, great blog. Can’t wait until your site is up and running and thanks for your feedback and tutorials. Learning is like sex, it can be embarrassing without having a good teacher.
February 27, 2017 @ 9:02 am Larry
BTW, looks like UGAZ is looking to move down early.