President Trump is active this morning. His first tweet of the week was a shot across the bow of Congress (who exempted themselves from Obamacare because it was such a disaster) and suggesting - shockingly to many in DC - that insurance companies may face some pain...
If ObamaCare is hurting people, & it is, why shouldn't it hurt the insurance companies & why should Congress not be paying what public pays?— Donald J. Trump (@realDonaldTrump) July 31, 2017
But then, having discussed the "bad", he pivoted to what he sees as "the good" - the stock market, unemployment, and wages - proclaiming there is "No White House Chaos"...
Highest Stock Market EVER, best economic numbers in years, unemployment lowest in 17 years, wages raising, border secure, S.C.: No WH chaos!— Donald J. Trump (@realDonaldTrump) July 31, 2017
Which, as we detailed previously, could be a big mistake...
The president wants people to think that he is the reason for the stock market bubble.
This is a big mistake.
The Fed is the premier member of the so-called "Deep State". In fact, without The Fed, there would hardly be a "Deep State" to speak of.
The Fed sits at the top of the Deep State. They have the ultimate power (that no human beings should ever have) to create new money out-of-thin-air.
In case Trump hasn't figured it out yet, the Deep State does not like him.
Should a major decline in the stock market occur during Trump's Administration, guess who will take the blame?
After all, he took ownership of the bubble!
Should the market tumble, the mainstream media (that also despises Trump) will have plenty of his quotes, YouTubes, and Tweets to use against him.
The economic woes will be pinned on Trump.
Will Trump deserve the blame? No, but it'll be too late.
?This is not to say that a major decline will occur during Trump's tenure. Bubbles can take on a life of their own, and this one may last during Trump's full term.
But that's a risky gamble to make.
This bubble is going on almost 10 years now without a serious decline.
Should we see a major selloff, Trump has very few friends in the major power centers that will come to his aid.
As Peter Schiff points out in this fantastic clip below: The Fed now has their fall guy: