Donald Trump hits back at Beijing and hikes
tariffs on $550 billion of products after he told
US firms to pull out of China, the Dow dropped
623 points and he called the Fed Reserve boss
the enemy for not cutting rates
Daily Mail [UK], Associated Press,
by
Geoff Earle
&
Emily Goodin
Original Article
Posted By: LittleHoodedMonk,
8/23/2019 6:15:33 PM
President Donald Trump set off a precipitous dive in financial markets Friday after he ripped Federal Reserve chair Jerome Powell, ordered U.S. companies to pull back from China, and called the world's No. 2 economy the 'enemy.' (Snip) Trump tore into Powell after the Fed Chair refused to provide a clear signal he will bend to Trump's demand for rate cuts – comparing him to China's President Xi Jinping, his chief economic and political rival who heads a country Trump describes as committed to 'ripping off' the United States. Trump's attack on the Fed was followed by series of blistering tweets against China
Reply 1 - Posted by:
udanja99 8/23/2019 6:23:44 PM (No. 160383)
Thank you, OP. I agree. In the long run this will be very good for America. I lost a 5 digit sum today in the markets, but I trust PDT and trust that it will come back.
24 people like this.
Reply 2 - Posted by:
DVC 8/23/2019 6:24:06 PM (No. 160384)
XI picks up the phone and calls the central bank, and gets help. Trump, and the USA is getting harmed by the damned Fed, ostensibly fighting non-existent inflation, and raising interest rates several times. The Deep State trying to cause a recession, I am convinced.
31 people like this.
Reply 3 - Posted by:
DVC 8/23/2019 7:06:18 PM (No. 160422)
Bring it on.
14 people like this.
Reply 4 - Posted by:
DVC 8/23/2019 7:07:02 PM (No. 160425)
#1, my loss was more than that, but I really do not care at all. This has to be done.
15 people like this.
Reply 5 - Posted by:
kdsils60 8/23/2019 7:45:06 PM (No. 160451)
Folks... you would think the "little man" in America would be jumping up and down with glee, seeing the rich getting whacked in the market and that the "little man" may get some of these jobs of making Apple products instead of Chinese slave labor. And, I think the Trump supporter understands - pain now, by next summer, our economy will be hummin... thank you President Trump... you are "the chosen one" to deal with the Chinese, unlike the last 4 Presidents that passed or even aided the Chinese to steal America blind!
9 people like this.
Reply 6 - Posted by:
RenoVet68 8/23/2019 7:45:36 PM (No. 160452)
Time for the bottom feeders to go fishing.
6 people like this.
Reply 7 - Posted by:
F15 Gork 8/23/2019 8:22:38 PM (No. 160469)
Get her done Trumpy Bear. Get her done!
6 people like this.
Reply 8 - Posted by:
voxpopuli 8/23/2019 9:01:35 PM (No. 160486)
i think it's possible that some Chinese AND their commie buddies in this country short the markets the day before they announce THEIR tariff hikes..
should start checking a few accounts..
or better, go long treasuries on 5% margin..
4 people like this.
Reply 9 - Posted by:
Corndoggies 8/23/2019 9:09:56 PM (No. 160490)
I belong to a few trucker pages on fb and an article posted said “Support for Trump Amid Truckers Drops”. An overwhelming majority called it fake news and said they couldn’t wait to vote for him again. We are aware that this trade war isn’t good for our industry but know that when this tariff war is over, trucking and America will be big winners.
6 people like this.
Reply 10 - Posted by:
chumley 8/23/2019 9:27:33 PM (No. 160495)
I'm not rich, and it looks like I'm not retiring either. I'll never get my money back in securities, so I just have to ride this out. The best I can hope for is to die at work so I get the big fat payout. Then I can really retire comfortably.
1 person likes this.
Reply 11 - Posted by:
slab 8/23/2019 9:59:46 PM (No. 160515)
My income is largely dependent upon farm commodity prices. I'm worried, but still backing PDT This trade war needs to happen, and the USA will win.
4 people like this.
Reply 12 - Posted by:
watashiyo 8/23/2019 11:38:35 PM (No. 160555)
And where are our Allies when we really needed them? They've been milking our wealth for the last 60 years and it's payback time. Start buying Americans, invest in America and pay your dues!
4 people like this.
Reply 13 - Posted by:
panther361 8/24/2019 12:22:51 AM (No. 160565)
I am retired and have been for some time now. I learned long ago never bet money you're not able to lose. The stock market is one of the largest roullette wheels around.
1 person likes this.
Reply 14 - Posted by:
Trigger2 8/24/2019 1:28:55 AM (No. 160584)
I fully agree with President Trump on China and also on the Fed. They screwed up with their asinine printing of phony money the last time and they're screwing up this time. Every country in the world is reducing rates while the Fed refuses, thus making our money worth more than it actually is and making our trade goods too expensive to buy. Their motto seems to be: We agree with the demonrats that a recession needs to be ushered in so Trump won't get reelected. They don't give a damn about the American citizen either. That 1920's(?) act to gin up the Fed as got to go.
0 people like this.
Reply 15 - Posted by:
DVC 8/24/2019 2:24:12 AM (No. 160597)
Hilarious, and sad view #14. So, so far from the truth, but I am sure that you are convinced. My experience of 40+ years is exactly the opposite. Saving and investing in the market, WITH PROPER PROFESSIONAL HELP has made me a very comfortable retirement. Not 'roulette' by any means.
0 people like this.
Reply 16 - Posted by:
judy 8/24/2019 4:01:19 AM (No. 160625)
The market will be back , after all the elites are very greedy!
0 people like this.
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Comments:
Any war is ugly and requires sacrifices on both sides. I have stated previously that am all in for President Trump. Left out of many of these hysteria driven "fake news" memes is that China has used our money and technological thefts to build up their military. They see the long game. We don't, and this must change. With the rabid socialist leaning dRATS infanticide party, it may be too late. Bueller?