"Had Hillary Won, The Market Would Be Down 50%" - Complete Trump Interview Highlights

Aside from a slew of US economic data, including GDP and durable goods, today's key event will be Donald Trump's address at Davos at 8am EST, where attention will focus on the president's take on trade and currency "conflicts." Ahead of his main speech, however, Trump had a lengthy interview with CNBC's Joe Kernen in which he touched on everything from trade, to the market, to the government shutdown and immigration law, and of course, the role of the dollar.

Once again refuting recent anti-USD sentiment, Trump countered the market interpretation of Mnuchin’s comments, saying he "ultimately wants to see a strong USD".

“It’s your great reserve currency. There can never be anything even close to it. There is nothing close to it, there never will be,” Trump told CNBC, explaining that "we are doing so well, our country is becoming so economically strong again – and strong in other ways too, by the way – that the dollar is going to get stronger and stronger." Then, in a paradoxical twist, Trump said "nobody should be talking” about the dollar, "It should be what it is/"

Here is the full excerpt:

So let me tell you, I think they were taken out of context because I read his exact statement. I'll tell you where I stand, which ultimately is very important. Number one, I don't like talking about it because, frankly, nobody should be talking about it. It should be what it is. It should also be based on the strength of the country. We are doing so well, our country is becoming so economically strong again – and strong in other ways too, by the way – that the dollar is going to get stronger and stronger. And ultimately, I want to see a strong dollar. Right now it floats. But it's your great reserve currency. There can never be anything even close to it. There is nothing close to it, there never will be. But ultimately the dollar, because our country is going to get so much stronger economically, if you look at what's happened to our country over the – look, I've been talking about this with you for 25 years…

Trump's dollar endorsement triggered a temporary reversal of USD weakness on Thursday, although it has since continued to decline and his latest comments barely registered on the Bloomberg dollar index.

Touching on other key topics, Trump told Kernen that Democrats wouldn’t want another government shutdown "because you look at every poll, it said they made a mistake." More in the excerpt:

We want to do what's right and we're going to do what's right, and we're going to solve the DACA problem. And I don't think the Democrats would want to pull another shutdown. But we'll get it solved. And if we need a little more time, we'll take a little more time. I want to get the problem solved correctly

Trump also spoke about what he considers the impact of reduced regulations on U.S. gross domestic product:

Now, in my first quarter, which I consider to be the second quarter because I was there now long enough to have made an impact and don't kid yourself, regulations are just as big as the tax cuts. I've cut more regulations than any President in history and I've been here for one year. You can take their term whether it's eight years or 16 years in one instance— but you can take anybody you want, in one year, we've cut more regulations. And by the way, there's going to be regulation but they're good, solid, sane regulations. But in quarter two, we had 3.1, and in quarter three, as you know, we had 3.2. But in quarter one, which is the Obama quarter— really the last, I would say, Obama quarter, you had 1.2. We were going in the wrong direction.

As he has done a lot lately, Trump also took credit for the market's soaring performance, predicting that had Democrats won, the S&P would be 50% lower:

Not only did Jamie Dimon say he thought 3% [GDP] was possible, he said we could get to 4 percent in 2018. Lloyd Blankfein, and I pressed him a little because I said, "That was not the outcome – the election that you were, I think, hoping for. Now that you've seen what's happened to the stock market, up 40% since Election Day, how businesses are growing confidence, are you happy with the outcome?"... 

Had the Democrat won — the stock market is up almost 50% since my election — had the Democrat won, I believe you would have been down 50. That's the direction we were headed. And you know, a lot of that, regulation. It was staggering. You could not do anything

Finally, looking at Trump's upcoming main event speech at Davos, Bloomberg reporter Jennifer Jacobs previewed: "Trump’s speech in Davos this morning will last about 15 minutes. He’ll talk about how he’s made the US attractive for business, a senior administration official told reporters. Trump won’t get the new GDP numbers until the speech is over, though, aide said." That said, Citi's FX desk doubts the America first message will be favorable for USD today.

Trump's full interview below:


And transcript:

 

Comments

DingleBarryObummer Fri, 01/26/2018 - 07:31 Permalink

really?  the FED and the PPT couldn't slush money around to make the market go up for hillary?  don't make me laugh.

"Our companies can’t compete with [Chinese companies] now because our currency is too strong. And it’s killing us." Trump, Jan 2017

Bes laser Fri, 01/26/2018 - 10:11 Permalink

Donald Trump

- sees no bubble

- wall street is all that matters

- he quotes CNBC articles:  https://www.whitehouse.gov/briefings-statements/cnbc-dow-breaks-25000-f…

- the FED is no longer political

- has no problem with82% of wealth went to the top 1% last year

- the rich get 15%+ in tax breaks and more

- meanwhile everone else gets 2%-4% whuich doesn't even keep up with inflation

- corporations are generous when they give 0.5%-1% in revenue back to employees as a one -time "bonus" - more like "Hush Money" - crumbs off of crumbs

and we're just getting started

In reply to by laser

MarshalJimDuncan DingleBarryObummer Fri, 01/26/2018 - 07:35 Permalink

Harley-Davidson EMEA
Harley-Davidson Brazil
Harley-Davidson India
Harley-Davidson Asia

https://en.wikipedia.org/wiki/Harley-Davidson

 

Today, some KitchenAid products are manufactured in Ohio, South Carolina, Mississippi, Indiana, Arkansas, Ontario, and Quebec while others are manufactured in China

 

On April 1, 2006, Whirlpool completed its acquisition of Maytag Corporation. In May 2006, Whirlpool announced plans to close the former Maytag headquarters office in Newton, as well as laundry product manufacturing plants in Newton, IowaHerrin, Illinois; and Searcy, Arkansas by 2007

https://en.wikipedia.org/wiki/Whirlpool_Corporation#Major_brands

In reply to by DingleBarryObummer

NoDebt Fri, 01/26/2018 - 07:34 Permalink

This guy's optimism is pretty infectious, you have to admit.

I'll take the tax cut, thank you.  I'll also take a couple more good, conservative SCOTUS picks.  Sucks that Ginsburg declared that she's never going to die and will never leave the court while she's alive, but there will be other opportunities.

 

DingleBarryObummer NoDebt Fri, 01/26/2018 - 09:16 Permalink

retarded.  you are not factoring in the inflation (hiddent tax) that will invariably occur.  plus, you are the minority, no one else here is echoing what you state.  You are not really that dumb, are you?  Our children can be born with $100,000 of national debt hanging over their head so your banker ass can get more tug jobs at asian massage parlor

In reply to by NoDebt

Oldwood NoDebt Fri, 01/26/2018 - 08:04 Permalink

If progressive's were still totally in charge we wouldn't be dealing with waiting for nature to take it's course. They fear nature and seek to change it....and us at every opportunity. If Ginsberg we're a conservative she would have never survived her health challenges. All conservative SCOTUS fear crib death while progressives bemoan the unnecessary deaths caused by the failure of government to fully dominate healthcare.

In reply to by NoDebt

canisdirus Juggernaut x2 Fri, 01/26/2018 - 15:53 Permalink

Trump doesn't even need to build a "big beautiful wall", he just needs to get photographs of Obama's walls in the news. Obama built more, bigger, and less-penetrable border wall than any prior president. He also quietly deported more people than anyone before him.

I didn't like the man, but he somehow stealthily did stuff that the MSM would trip out about if Trump even talks about it. Everyone prints these sob stories about immigration raids after Trump becomes president, but they've been ignoring that deportation has dropped since he took office (cause is uncertain, but there's a possibility that some simply went home after the election out of fear, even though their risk wasn't any higher than under Obama).

In reply to by Juggernaut x2

Surveyor 59 Fri, 01/26/2018 - 07:42 Permalink

"There is nothing close to it, and never will be" whoa...I guess when youre the top dog and a billionaire the old saying about tempting fate doesnt apply. Captain Smith probably thought the same a few miles away from the iceberg as he bunked for the night. Oh well...
maybe I should just buy some bitcoin, pre-order the 2019 Bullitt, get another visa card, forget about the bug-out cabin. Follow the commander's lead...wait...whats this fog around me...I see an N an O an R an M an A an L a C a Y a B ...

JPMorgan Fri, 01/26/2018 - 07:43 Permalink

Bold claim, but I doubt it.

The markets have been on zombie autopilot since 2009. 

Some say they would of pulled the plug on Clinton's watch as she would of signed off to bail out (or in) all of the banks once again.

But who can say, it's not the way it's gone (to date anyway).

  

wattie Fri, 01/26/2018 - 07:52 Permalink

Americans are the most stupid on the planet.

it ain’t Trump.

it wasn’t obama

it is the Fed and you’re all screwed once it all comes tumbling down.......cos they weren’t that good to start with cos it all required bailing out....

thats what happens when you give money to people that can’t pay it back.....ie Americans.

stupid bankers.

MCDirtMigger Fri, 01/26/2018 - 08:08 Permalink

Being just a lowly business owner, I frankly see things pretty much in shades of green. For 10 loooooong years (from 06 when demonbrats retook the house and promised tax hikes and further regulation) my revenues were anywhere from down 70% to flat in any given year. Since Trump has been President, my revenue line has matched my carpenter’s square. (For those of you who dont know, that is a 45 degree angle).  I’ve been able to replace old outdated machinery and increased our hiring and benefits. Both my customers and my employees are optimistic, and I am planning of finally taking that trip to Europe to revisit all those places I went to when I did my one and only Med cruise as a young sailor in our great and powerful Navy. I can show my wife all the spots I got fall down drunk!

jcaz MCDirtMigger Fri, 01/26/2018 - 08:24 Permalink

Shh- don't let your real-world experience screw up all the hard-core McDonalds/Govt worker libtards on here that fear getting their free shit cut getting back, and think they can make a difference with their keyboards while silently realizing that they're even more fucked in life now that they're expected to actually produce something........

In reply to by MCDirtMigger

shimmy Fri, 01/26/2018 - 08:16 Permalink

What an idiot he can be. Part of me wants to see the markets crash just so I can see him try and flip as though he hasn't taken ownership of it.