"We have declining inflation, except the president’s putting on inflationary tariffs.
We have incredibly low unemployment, except where it’s caused by the Trump administration.
"We have a market that was doing extremely well last year, until the Trump Administration sowed the level of uncertainty that I can’t recall any time since — Are you ready, Ski Daddy? — Jimmy Carter.
Which is the last time people were really worried about inflation, about stagflation, okay? Back then, stagflation was real.
Now, Jimmy Carter, curious benchmark, break out the cardigan sweater. I know it’s a brutal comparison. You think I did it idly?
I cannot think of another president in my lifetime who could knock down the stock market simply by opening his mouth than Jimmy Carter. Eureka! I have found him!
So let’s look at it this way: Everything about this economy is good. Everything, everything, except one thing. We have a president who’s very angry at everyone, except Vladimir Putin. Oh, no, maybe even Vladimir Putin.
And his wrath has made investors so downcast and so negative that people have just given up. They want nothing to do with stocks, nothing to with this world, because they’re sure the White House will keep laying on the tariffs that seem to be wiping out your wealth and my wealth.
In this environment, it’s a wonder anyone’s buying anything, unless they think that the one person who’s standing in the way of a great economy. One that could have incredible growth with lowered inflation, lower oil prices, less regulation, more confidence, will finally change the stripes.
If Trump can lose the anger, drop the scowl, stop diminishing our friends and rivals while making common cause with our enemies, and generally start acting like he did in his first term, well, that would be huge for the stock market!
As far as the stock markets are concerned, though, we need less Jimmy Carter, more Ronald Reagan. Bottom line, maybe Wednesday isn’t de-liberation day.
It’s just the day when American investors may be finally liberated from the president’s not-so-pro-business attitude, once he gets the tariffs out of the way."
