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The stock market in the United States economy does not like Donald Trump. Look at this headline yesterday from Yahoo Finance. stock market today dow s p 500 nasdaq clobbered as federal reserve chairman powell signals fewer rate cuts in 2025 which he did as a result of donald trump's inflationary measures like bloody mass deportations and tariffing our allies and trade adversaries alike
Now, we also know that when Donald Trump showed up at the stock market in the past two weeks, he was asked a question by Jim Cramer. Should American workers invest in the United States stock market? Trump botched that question and said, I don't know, because there may be a dip. There may be a dip.
You're the guy who went around during the election with your accordion hands and said you were going to just make everything a miracle and it was all going to be so much better, despite the fact that President Biden brought the stock market up about 55 to 60 percent higher than than when you, Donald Trump, were an office, or approximately that amount.
The Biden stock market far better than the Trump stock market. Just take a look at this headline from Yahoo Finance. Stocks were clobbered Wednesday after the Federal Reserve, despite slashing interest rates by 25 basis points, signaled it would cut fewer times next year than previously projected. All three major indexes reversed gains following the decision to end with steep losses.
The Dow Jones Industrial Average was down about 2.6% or over 1,000 points, clinching its 10th straight down session, the longest losing streak since 1974, over 50 years ago in reaction to Donald Trump. Meanwhile, the S&P 500 fell roughly 3% and tech heavy Nasdaq composite slid more than 3.5%.
Quote, The slower pace of cuts for next year really reflects both the higher inflation readings we had this year
and the expectation inflation will be higher federal chair jerome powell said why do you think that they have those expectations because of donald trump's threats meanwhile americans across the country are now stockpiling on goods and americans across the country believe prices will be higher under donald trump you know americans you didn't have to vote to inflict pain and suffering on yourself but i don't know that's just me
You take a look at the sector breakdown of percentage losses. Consumer discretionary down 4.74%. Real estate down 3.9%. Communication services down 3.16%. Financials down 3.03%. Infotech down 2.99%. Materials, industrials, energy, utilities, healthcare, all down one by one. And as Carl Quintanilla posted, the Dow is on pace for the longest losing streak since October 4th, 1974.
As our editor in chief, Ron Filipkowski, says it's been a hell of a week since Trump rang the opening bell at the stock exchange. I mean, some serious stuff, folks. Donald Trump went around the Pied Piper of broken promises during his campaign. I'm going to make it better. If you elect Kamala, there's going to be a depression, the biggest depression you've ever seen.
With Donald Trump, all that stuff is always projection and confession, in my opinion. Just think about this New York Times headline. U.S. unemployment is worst since depression. You know when that headline was? When Donald Trump was in office, that US unemployment was worse since the Great Depression. But what does Donald Trump do? He's got a social media platform where he's posting
I've got or he's having ads that post with his name, image and likeness on him. An IRS loophole that could save your retirement during Biden's recession. There was no recession when Biden was in office. Unemployment was down. Record jobs were created. The inflation was brought down because of the Inflation Reduction Act, which Trump is going to bring back up. GDP was highest of the G7 nations.
Average pay was up 19%. There was a manufacturing boom in the United States. Go back and look at the interview I did with President Biden where we talked about facts. It wasn't a gotcha interview. We talked about what he did. He talked about what he did for red states and turning red state economy around. And by the way, you know, the magas are always like drill, baby, drill.
There was more domestic oil drilling when Biden was in office than when Trump was in office and Biden cared about climate change. Just showing you this graphic here as well. This goes over the GDP growth, the jobs created, construction and manufacturing boom, $1 trillion in private sector manufacturing and clean energy investment announced.
Can you take a look right here at the JP Morgan report here? When JP Morgan is saying things like this, you know there's an issue. When they're being snarky like this. Daily economic briefing. Walking into a dark room full of furniture. And yes, already based on the stock market losses since Donald Trump went to the stock exchange. This is what Bullrunners reported yesterday.
Over $2 trillion has been wiped away. from the US stock market. One month of stock market gains has been erased in a single day. The US stock market has lost over $2 trillion in valuation. Think about that.
Meanwhile, you've got our billionaire oligarchy with Elon Musk and Vivek Ramaswamy killing a continuing resolution to avoid a government shutdown, further plunging our country into economic turmoil. As Dean Baker goes, pretty cool how a billionaire has decided to shut down the government. That's how we can tell the Republicans are really the party of the working people. Good times.
It's pretty neat that an unelected billionaire like Elon Musk and Vivek Ramaswamy get to shut down our government. It's very MAGA to leave this call to our favorite billionaires being sarcastic. Uh, Senator Bernie Sanders writes the U S Congress this week came to an agreement to fund our government. Elon Musk, who became $200 billion richer since Trump was elected objective.
Our Republicans beholden to the American people are president Musk. Uh, this is the oligarchy at work and you see Elon Musk, uh, posting all of these photos, kill the bill, kill the bill, kill all the bill. Now, just think about what Donald Trump's also said over the past two weeks or so. He went on Meet the Press. He told Kristen Welker he will not guarantee lower prices.
Now, most economists expect that the prices on all kind of normal goods are going to be significantly higher or higher than as a result of Donald Trump's policies, right? I mean, Donald Trump's mass deport, I did a whole video on this, Trump's threats of mass deportations would cause catastrophic harm in the construction industry, in farming, in hospitality,
and in other areas where migrant labor is really kind of relied upon, that would cause significant job losses and a significant decline in the economy. If they keep engaging in these government shutdowns and trying to, you know, screw the government that way, that's going to, and just screw government employees, that's going to slow down the economy as well.
I mean, I just think about if like services are now shut off. I mean, look, you had Elon Musk and Donald Trump out there saying that they wanted to inflict economic hardship on the American people. They said that there will we will feel pain is what they said. You got to feel pain. And then they said things will get better after you experience the pain.
The billionaires, they'll party at Mar-a-Lago. We all will suffer pain, they say, but that's for our own good. The billionaires are telling us that we need to suffer the pain because that's a good thing for us while they're on their private jets and while they're out there with golden toilet bowls and the like.
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One more time, go to lumen.me slash Midas, L-U-M-E-N dot M-E slash Midas and get 15% off your purchase. Thank you, Lumen, for sponsoring this episode. Donald Trump has, in addition to saying that he can't guarantee prices will go lower, he also says it's very hard. He said in his Time Magazine article interview, very hard, very, very hard to bring prices down once they're up.
He says he's not sure he can do it. It's very, very hard is what he says. Very hard. Your whole campaign was going around and making these types of promises. And then I think Americans are now finally who have Googled, okay, well, what's a tariff? What's this? What's that? Are now saying, oh, wait a minute. You mean that this is going to cause our products to be significantly higher? And you...
going after Canada and Mexico, our allies, and then also going after China and all these other countries, going to go after everybody, have everybody hate the United States, and they'll all form trade deals together and cut the United States out and ultimately screw the United States. And you think that's going to be beneficial to we the people? I mean, just take a look at who they...
Who's like one of the main leaders that MAGA Republicans look up to? Javier Millay, right, in Argentina. The poverty rate there is 53%. 53% and they look up to Javier Millay, the president of Argentina. It's ridiculous. But Donald Trump, congrats, buddy. A 10-day losing streak of the Dow Jones. No one's done it. No one's done it since 1974.
You brought back a 10-day losing streak the same way you had the worst unemployment since the Great Depression, the same way you were the only president since Herbert Hoover to lose jobs. But you alone do it. You alone do it. I'm Ben Mycelis from the Midas Touch Network. And subscribe. Let's get to 4 million subscribers.
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