DONALD TRUMP Weighs in on Market Crisis: “I’ve Been Telling Everybody… China Could Bring Us Down”

Gateway Pundit ^ | 08/24/15 | Jim Hoft

[Enlightened1]

Donald Trump weighed in on the market crisis today. He even dropped the “d” word.

"Depression- be careful of China! https://instagram.com/p/6xT08ZGhQc/"

Donald Trump warned Americans on Instagram:

“I’ve been telling everybody for a long time China is taking our jobs and taking our money. Be careful they’ll bring us down. You have to know what you’re doing. We have nobody that has a clue.”

Donald also posted about the crisis on Twitter:

"@ZephyrusMatrix: Will you finally get respect for predicting U.S. concerns even weeks before disaster strikes.The country needs a visionary"

[Amntn]

"One-time 14% tax on wealthy to pay down national debt. (Jun 2015)"

Can you source this date please?

The last time I saw this was in 2011.

[GeronL]

bump

[familyop]

"Can you source this date please?"

Follow the link here,

http://www.ontheissues.org/donald_trump.htm#Tax_Reform

then the link, "10 full quotes on Tax Reform."

You'll see "Source: PBS News Hour "2016 Candidate Stands" series , Jun 16, 2015." That's where the quote or statement from Donald Trump should be. We should try to find a transcript or video, when time allows. Paraphrasing from PBS isn't good enough. We'll need to get it from Donald Trump in the form of a quote or video.

He's also 69. It's up to each person to decide whether or not he would have been likely to move from one end of politics to the other in later years.

[Amntn]

When you follow the link it lists the date of 2011 which is what he said in his book published in 2011. This could have been the source for PBS.

The other dates for wealth tax quotes lists Boston Globe 1999 as the source.

[Brown Deer]

At the close, it’s 20th place for all-time one-day percentage loss.

Not even close.

Largest daily percentage losses 
Rank         Date     Close Net Change % Change 
1 1987-10-19 1,738.74 −508.00 −22.61 
2 1929-10-28 260.64 −38.33 −12.82 
3 1899-12-18 58.27 −7.94 −11.99 
4 1929-10-29 230.07 −30.57 −11.73 
5 1929-11-06 232.13 −25.55 −9.92 
6 1932-08-12 63.11 −5.79 −8.40 
7 1907-03-14 76.23 −6.89 −8.29 
8 1987-10-26 1,793.93 −156.83 −8.04 
9 2008-10-15 8,577.91 −733.08 −7.87 
10 1933-07-21 88.71 −7.55 −7.84 
11 1937-10-18 125.73 −10.57 −7.75 
12 2008-12-01 8,149.09 −679.95 −7.70 
13 2008-10-09 8,579.19 −678.91 −7.33 
14 1917-02-01 88.52 −6.91 −7.24 
15 1997-10-27 7,161.15 −554.26 −7.18 
16 1932-10-05 66.07 −5.09 −7.15 
17 2001-09-17 8,920.70 −684.81 −7.13 
18 1931-09-24 107.79 −8.20 −7.07 
19 1933-07-20 96.26 −7.32 −7.07 
20 2008-09-29 10,365.45 −777.68 −6.98 

[Pelham]

“..but this is not China bringing us down....this is our Fed bringing down everybody...”

Well China has had a gigantic real estate and stock market bubble going that began to collapse last week.

With global financial markets intertwined these days it would be more surprising if we weren’t affected by the collapse in their market.

How exactly is it that the Fed is to blame for this?

[Pelham]

“It is not our problem but that $3 trillion in bonds China can dump tomorrow and get interest rates to go through the roof. “

Since the Fed can purchase all of them if it chooses interest rates aren’t likely to go through the roof.

Not to mention that China would have to find somewhere to invest the $3 trillion they would now have in their hands and their options are pretty limited.

[Pelham]

““Who owns your notes, owns your soul.””

If you owe the bank $1,000,000 they own you.

If you owe the bank $3,000,000,000 you own them.

[C. Edmund Wright]

How exactly is it that the Fed is to blame for this?

Wow. It's called years of QE causing a bubble in equities. Several years ago our Fed stopped looking at the economy as something that drove the market, and started looking at the market as something that could drive the economy. That's why the stock market has had 6 great years even as the main street economy has not. Ultimately, that's a very unstable position. This is the unraveling of that.

Throw in all the other reasons that our economy is struggling..Obama Care, EPA, taxes, regulations, etc....and it's ugly scenario.

[C. Edmund Wright]

It may be both, but since we don’t run China, our elected officials have no standing in China, and since our own self imposed problems ARE within the purview of our elected officials, then that’s where the focus should be.

BTW, China down another 7% - our Futures up 600. Doesn’t sound like China is really kicking our ass does it.

[Genoa]

Yep, mine was percent change ranking based on net point loss. I like yours better.

[Pelham]

Well the Fed doesn't buy equities, they buy bonds and other debt instruments. They need a very large market in which to buy and sell in the quantities that they deal in and the debt market is huge compared to the stock market.

If the Fed was purchasing stocks that would show up in SEC filings. I've never seen any report of the Fed purchasing stocks and as recently as 2012 they had never purchased stocks. That would be major news because it would give the Fed an ownership position and voting rights in corporations. The cries of conflict of interest would be loud and valid.

Fed holdings did dramatically change in 2008 but it was still all debt securities. A huge amount of mortgage backed securities was added to their mix. You can find a useful description here The Evolving State of the Fed’s Security Holdings

Any impact on the stock market is a secondary effect of the extremely low interest rates that QE produces. But we have had very low interest rates since the very beginning of Dubya's term in office. That 'war on savers' isn't new and it's been bipartisan.