This morning, the POTUS (who I suppose is closely monitoring GLOBEX quotes on the YM) tweeted this out:
My first remark is……….the mainstream media seldom mentions? Actually, no, he’s right. I don’t think anyone in the mainstream media has said word one about equities for the past two or three years. It’s especially bizarre that CNBC makes no mention of the daily lifetime highs, since you would expect them to be kind of focused on it. Its mostly smalltalk and puzzlement as to why Gartman only seems to own three ties.
What really puzzles me is this: isn’t the President just kind of ASKING for it? I mean, Irving Fisher had a long, storied career as one of the world’s greatest economists, and yet his entire legacy has been boiled down to his statement that stocks had reached a “permanently high plateau” just before stocks crashed.
And he said it ONCE. Trump, on the other hand, tweets about the stock market any time it reaches a new high (which, let’s face it, is pretty much every day except Saturday and Sunday), clearing implying the credit for such highs is his and his alone.
It’s not lost on me that the stock market has shown no signs of slowing down, but as a person who wrote a book about five hundred years of financial markets and the history around them, I just want to go on record that if, by some miracle, this fucking market ever DOES go into bear mode, Trump’s going to regret dry-humping equities every single day like this, because the blame is going to be placed directly on his doorstep.