Jerry Nadler’s Judiciary Committee impeachment report paints a picture of a president who cares more about his business, political, and personal wins than the safety of the nation. Jerry Nadler’s been on Trump’s tail for years. And he finally grabbed a piece of it and won’t let go.
The impeachment has investors worried. They worry about Trump’s ability to win the impeachment battle. Nadler’s report claims Trump is a criminal president. Nadler told the press the founding fathers knew a smock like the Trumpster would surface at some point so they prepared for the occasion by establishing articles in the constitution that explains when and why to use the impeachment process. Based on the constitution, the Trumpster needs to go.
Another fly in the impeachment ointment is Trump’s new China phase one trade agreement. Investment pros claim the agreement is a ploy to get the farm vote. Mr. Trump needs the farmers. The $28 billion handout he gave farmers is twice as much as the auto industry bailout in 2008, but that doesn’t keep them in the export game. Trump’s tariff war gave Brazil and Argentina a chance to offer Chinese importers lower prices on soybeans, wheat, and corn. Plus, the Chinese bought pork from both countries in order to cut their swine flu loses.
Investors claim the trade agreement is a ploy because Trump only dropped the tariffs on $112 billion worth of Chinese products. The tariffs are still in play on $250 billion worth of Chinese products. Trump dropped the December tariff. That wasn’t a surprise. Investors knew that would happen based on the financial damage that would occur in the consumer market.
Mr. Trump reduced the tariffs by 11 percent, and China agreed to buy $50 billion worth of farm products in 2020. China will have a hard time reaching that number based on lower prices and availability in Brazil, Mexico.
Federal Reserve Chairman Jerome Powell keeps telling reporters the economy is in good shape. But the big hedge fund managers think that’s a load of crap. Several big hedge funds like Bridgewater think the S&P will take a serious hit by April 2020. Bridgewater bet $1 billion the market will experience an adjustment from the election or the trade war. But not all investors worry about the Trumpster’s ability to evade the law. Crossing legal boundaries is in Trump’s DNA and he’s good at it.