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

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.

Comments

HungryPorkChop dasein211 Wed, 10/11/2017 - 09:59 Permalink

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.  

In reply to by dasein211

The Wizard skbull44 Wed, 10/11/2017 - 10:01 Permalink

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.

In reply to by skbull44

skbull44 The Wizard Wed, 10/11/2017 - 10:06 Permalink

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

In reply to by The Wizard

wonger Wed, 10/11/2017 - 08:56 Permalink

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

syzygysus Wed, 10/11/2017 - 08:57 Permalink

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 H… Wed, 10/11/2017 - 09:33 Permalink

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......

Lord Peter Pipsqueak Wed, 10/11/2017 - 09:01 Permalink

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 H… Lord Peter Pipsqueak Wed, 10/11/2017 - 10:01 Permalink

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." lolMAGA!

In reply to by Lord Peter Pipsqueak

Lord Peter Pipsqueak grasha87 Wed, 10/11/2017 - 13:58 Permalink

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.

In reply to by grasha87

wonger Wed, 10/11/2017 - 09:04 Permalink

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 Wed, 10/11/2017 - 09:06 Permalink

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.