Trump's Touts "$5.2 Trillion" In Stock Gains, Promises More If "Congress Gives Us Massive Tax Cuts"

Tyler Durden's picture

In what appears to be a desperate, early-morning marketing push to avoid the embarrassment of his tax reform package meeting the same fate as his Obamacare repeal effort, Trump released the following tweet storm touting the "unprecedented $5.2 trillion" in stock market gains since his election and promised those gains would "grow by leaps and bounds" if "Congress gives us the massive tax cuts (and reform) I am asking for."

"Stock Market has increased by 5.2 Trillion dollars since the election on November 8th, a 25% increase. Lowest unemployment in 16 years and if Congress gives us the massive tax cuts (and reform) I am asking for, those numbers will grow by leaps and bounds."

 

"It would be really nice if the Fake News Media would report the virtually unprecedented Stock Market growth since the election.Need tax cuts"

Of course, with a narrow lead in the Senate, Rand Paul's rejection, Steve Bannon's "war on the GOP establishment" and a nasty feud brewing with Senator Corker, the market is seemingly starting to question whether tax reform is possible.

Trump Tax

And while Trump has hinted at potentially working with Democrats on tax reform, the following tweet could suggest that is now off the table.

Finally, just for good measure, the President also took a victory lap in his feud with the NFL by thanking Roger Goodell for caving and asking his players to stand for the National Anthem.

So, what say you?  Is tax reform already dead or can Trump pull a rabbit out of the hat?  No matter the outcome, we know one thing for certain...it will be positive for stocks.

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Bubenthauser's picture

Push push PUUUUSH

 

OneStinkyDinky's picture

Who should I lambast this morning?

No one Mr President we could use a day off.

What's generic I can tweet about without causing mayhem everyone sure to like?

Stock market?

Never One Roach's picture

Congress does not care about middle class America.

Dems only pander to illegals, dindus and Muzlims and clebs.

Rep only care about lining their pockets.

Drain the Swamp and dump these Establishment creatures; replace with Americans who care about Americans.

t0mmyBerg's picture

To do this you need term limits.  Which were explicitly rejected by the scrotumless SCOTUS.  In another one of their too cute by half lunatic rulings.

To the Don, be careful what you wish for.  You just might get it good and hard.

dasein211's picture

I expect the other 98% of Americans without stocks to duly bend over and cheer when the 1% makes even more. The other 1% are making plans to leave.

HungryPorkChop's picture

There's a lot of history on taxation and cannot believe this is still a debate sort of like what does gravity do to an apple when dropped from a tree. 

Taxes need to be placed back to the same rate when Ike, Truman and Kennedy were president.  This is when the middle class grew the fastest and forced the super rich to reinvest their money into factories and wages versus hoarding wealth. 

 

Phat Stax's picture

Another flip flop.  When he was a candidate he said that he had little interest in the stock market, and that he was not really a stock owner.  Now look at him.... he can't help but to build his own swamp.

Antifaschistische's picture

exactly...he's starting to sound like the bitcoin promoters.

...last marginal buyer....allows the entire herd to feel richer.

skbull44's picture

Boy, I truly miss the campaigning Trump who highlighted the ongoing bubble and manipulation of the markets. The presidential Trump is looking more and more like all the buffoons that preceded him...

American Psycho's picture

^^ You said it skbull!

"Big, fat, ugly bubble."

BigFatUglyBubble's picture

NOW Bigger, Fatter and Uglier!  (limited while supplies last; void where prohibited)

Zero_Ledge's picture

Don't forget, candidate trump called job reports total fiction, now they show how great job growth is !!

Endgame Napoleon's picture

I miss that Trump, too, but I did like his line about “soft, crime-producing borders.” It was funny how he baldly juxtaposed the Dem / Repub views. But many Repubs, just like the Dems, want mushy borders.

The Wizard's picture

Exactly, he is sounding more like a politician everyday. It's a function of who he is surrounded by in DC. Oops shouldn't have said that since it is a tell tale sign of who is trying to benefit from his so called "tax reform". They no longer call it "tax cut".

I guess his advisers have not told him the stock market is not representative of the economic system as a whole.

skbull44's picture

It could be who he is surrounded by, but this is of his own doing is it not? I saw the wheels coming off the tracks as soon as he began appointing all the Goldman Sachs sychophants. Alternatively, it could be that he played a glorious CON (as almost all campaigning politicians do) on all those who saw him as anti-establishment. He appears to have gone even further than I thought Hillary would should she have won. Who'd have thunk it?

 

https://olduvai.ca

grasha87's picture

Trump and Jim Rickards are wrong about free trade and comparative advantage. I've written here why:

 

https://bunky1787.wordpress.com/2017/06/04/jim-rickards-free-trade-a-bar...

grasha87's picture

Trump and Jim Rickards are wrong about free trade and comparative advantage. I've written here why:

 

https://bunky1787.wordpress.com/2017/06/04/jim-rickards-free-trade-a-bar...

Rapunzal's picture

Tax cuts for his rich buddies.

Endgame Napoleon's picture

.....and more tax welfare for a few to further stack the bottom of the part-time / low-wage / churn job deck.

shizzledizzle's picture

They sure pushed futures this morning.

grasha87's picture

Trump and Jim Rickards are wrong about free trade and comparative advantage. I've written here why:

 

https://bunky1787.wordpress.com/2017/06/04/jim-rickards-free-trade-a-bar...

runswithscissors's picture

Does he really expect the CONgress to do anything that will benefit the American People? It ain't gonna happen.

Rapunzal's picture

I know you people desperately want to believe Trump is a good guy, I get it. He is part of the whole dog and pony show served by the parasitic elites. At the end it's your families and neighbors you should relying on and yourself.

BlueHorseShoeLovesDT's picture

Trump may have to marry Yellen.

Or at least give her a big wet smooch.

peekster's picture

But...but...he said the market was a bubble at 18,000.

overbet's picture

That was before he was aware of how much debasement the FED has/is actually done/doing.

The Wizard's picture

Donald loves the FED and its fiat debt instruments. He said he is the "king of debt". A true Keynesian.

curbjob's picture

What's so hard to understand ; it was in a big fat ugly bubble under obama's presidency ; under trump it's a flower about to bloom and ridiculously under valued.

 

of course when in tanks, it will be back to a bubble that needed deflating.

innocent observer's picture

does anybody think drumpf believes what he says?

I hope he realizes he is lieing, constantly.

the alternative is too scary to contemplate.

wonger's picture

Hasnt the $1.4 trillion sitting offshore already been used to buy back shares Donald? If so how can they bring it back without crashing the market? lol

BlueHorseShoeLovesDT's picture

Just like everything else the narrative will be recycled a couple of hundred times to ramp up the “market”.

grasha87's picture

Trump and Jim Rickards are wrong about free trade and comparative advantage. I've written here why:

 

https://bunky1787.wordpress.com/2017/06/04/jim-rickards-free-trade-a-bar...

BlueHorseShoeLovesDT's picture

Who is paying for that wall?

Oh, I forgot the King of debt is just going to put it on the Uncle Sammy P Card.

Treasury Secretary Mucus doesn’t leave home without it.

bladrnr_2019's picture

It's only $20B, and we save $80B/year with it! Wake up, dummy.

syzygysus's picture

What a dipshit for taking ownership of this massive bubble.  I like the pre-POTUS Trump a lot more.

 

I guess they showed him the Quantum computers the fed uses to front run and rig the shit out of this BS fake market.

To Hell In A Handbasket's picture

Some people call this **WINNING** lol and there's me thinking Trump is for the little man. Orange Jesus is a 5 times draft dodging pussy, who is lecturing others on respecting the flag, anthem and the troops, while in his prime differed defending the very ideals and fighting alongside the very men, he accusing the knee benders of disrespecting.

Fuck Trump and all those fools supporting him on the NFL and especially a big fuck Trump, on the stock market bubble, while not giving his support base anything apart from some NFL niggers. Fuck him while Rome burns. Truly fuck him.

Rant over......

bladrnr_2019's picture

Go vote for Hillary then, you dipshit. Did he create this mess??? No. The Bush's Clinton's and Obama did. Get your history right.

To Hell In A Handbasket's picture

What a well thought through, structured and constructive reply. Keep it up, I will learn a lot from you.

Lord Peter Pipsqueak's picture

Will he be so keen to claim the stockmarket as his barometer of success when it crashes after the Fed finally decides to pull the plug?

Can't believe he's that stupid to put his presidency at the mercy of the Fed.

To Hell In A Handbasket's picture

You can't believe he is that stupid? Haven't you got the memo from Tillerson? It's blatantly obvious Trump is not a cerebral mastermind, 44 dimensional critical thinking mastermind strategist, as some tried to portray this cunt, but a multiple failed bankrupt, big mouth, egotist, a grab em by the pussy Weinstein-type groper of women's genitals and a draft dodger as well.

Who could ever respect a man like that? And to believe the USSA is so down trodden, desperate and fucked, that the plebs last hope was a loser like Trump? What happened to his campaign promises? What's happening to the country?

It's fast approaching 1 year and Orange Jesus has delivered fucking nothing, but the non-issue of the NFL and bending the fucking knee, while the country is being bankrupted, plundered, no jobs, indebted, increased military spending, more war abroad, endorse Zionist policy abroad, increased aid to Israel, kids in student debt, kids can't afford a home, a continuance of Wall Street fraud, a stock market bubble, no replacement of Obomination care, tax cuts to the rich, tax raises for the middle classes and the country is going to the shitter. 

"But don't worry boys and girls, if I get those niggers to stand for the anthem. That'll sure get me a 2nd term in office." lol

MAGA!

Cash Is King's picture

And to think, despite all your vitrial & offensive language this guy still beat Hillary Clinton. How bad must she have been to lose to this guy? “What Happened?” should actually read What Happened to This Country? Rome is burning and most of the world is cheering! Pretty sad when you stop & think about everything we’ve squandered.

Lord Peter Pipsqueak's picture

I'm afraid as time goes on, you are being proved right. Nothing has really changed.

grasha87's picture

Trump and Jim Rickards are wrong about free trade and comparative advantage. I've written here why:

 

https://bunky1787.wordpress.com/2017/06/04/jim-rickards-free-trade-a-bar...

Lord Peter Pipsqueak's picture

Mr Grasha87,

I too find it abit rich that the former legal counsel to LTCM which virtually brought he western economic system to its knees should be now so critical of the way the US and the Fed are dealing with the latest crisis, but he does make some good points and there is plenty to criticise!.

Your blog is incredibly detailed and an excellent read for anyone wanting to discover the pitfalls of having the worlds reserve currency, Triffins Paradox etc.

wonger's picture

At present, the most reliable measures of U.S. equity market valuation - the measures that are best-correlated with actual subsequent market returns in market cycles across history - are 2.75 times (175% above) their historical norms. Given that depressed interest rates are matched by commensurately low U.S. growth rates, little or none of this premium is actually “justified” by interest rates. Rather, the S&P 500 is likely to post negative total returns over the coming 10-12 year horizon, with a likely interim loss in excess of -60%.

Hey Don LOL

 

GlassHouse101's picture

I used to really like Trump. Now I'm convinced Obama was right, when he called him a "bullsh___er"  . . 

he touts the "big fat ugly bubble" during his campaign, now he embraces how bigger/fatter it's become. Trump truly is a LIAR.

therover's picture

Trump is a PSYCHOPATHIC LIAR.

Fixed it for you.