Republican Has Pathetic Defense for Stock Market Crashing Under Trump
The New Republic (nprofile…6kn7)
Republicans are trying to spin Donald Trump’s decision to kneecap the U.S. stock market by arguing that the United States doesn’t actually want to have a booming economy. Montana Senator Tim Sheehy appeared on CNN Wednesday evening, where he was faced with a brutal CNN poll that found a whopping 56 percent of respondents disapproved of Trump’s handling of the economy. Earlier this week, the stock market plummeted after Trump refused to say that the U.S. wasn’t heading toward a recession caused by his steep tariffs against its closest trading partners.Sheehy had his own explanation for why Wall Street falling was actually OK.“Well, first of all the stock market’s been on a sugar high for a long time,” he said.“There’s a fundamental difference between public spending and private spending. And what we’ve seen over the past several years, past three and a half years specifically, is unprecedented money printing into the market. And to be quite frank, a lot of companies benefited from that,” Sheehy said. Sheehy claimed that a handful of mega-tech companies had driven the stock market index to an all-time high.“We all love a good stock market, but the reality is that stock market imbalance didn’t necessarily benefit the smaller, midsize companies and average shareholders across the country,” he said.And Sheehy knows something about big business. He recently won his seat in Montana thanks to the backing of 12 billionaires, including members of the Walton family and organizations linked to Charles Koch, the CEO of Blackstone—which owns the Wyoming oil and gas pipeline company Tallgrass Energy, of which Sheehy’s brother is the president.Sheehy insisted Wednesday that the “stock market is not the economy,” and said that “uncertainty” would cause disruptions as Trump attempted to create a new “economic landscape.”Sheehy’s coping mechanism was similar to that of the dumbest U.S. senator, Tommy Tuberville, who was interviewed on Fox Business Monday. “People are looking at the stock market like, ‘Hey this is how it’s going to continue to be for months and months and months’—that’s not gonna happen,” Tuberville said. “We were probably over-bloated with the stock market here, for a while.”
https://newrepublic.com/post/192715/republican-defense-donald-trump-stock-market-crashing
Republicans are trying to spin Donald Trump’s decision to kneecap the U.S. stock market by arguing that the United States doesn’t actually want to have a booming economy. Montana Senator Tim Sheehy appeared on CNN Wednesday evening, where he was faced with a brutal CNN poll that found a whopping 56 percent of respondents disapproved of Trump’s handling of the economy. Earlier this week, the stock market plummeted after Trump refused to say that the U.S. wasn’t heading toward a recession caused by his steep tariffs against its closest trading partners.Sheehy had his own explanation for why Wall Street falling was actually OK.“Well, first of all the stock market’s been on a sugar high for a long time,” he said.“There’s a fundamental difference between public spending and private spending. And what we’ve seen over the past several years, past three and a half years specifically, is unprecedented money printing into the market. And to be quite frank, a lot of companies benefited from that,” Sheehy said. Sheehy claimed that a handful of mega-tech companies had driven the stock market index to an all-time high.“We all love a good stock market, but the reality is that stock market imbalance didn’t necessarily benefit the smaller, midsize companies and average shareholders across the country,” he said.And Sheehy knows something about big business. He recently won his seat in Montana thanks to the backing of 12 billionaires, including members of the Walton family and organizations linked to Charles Koch, the CEO of Blackstone—which owns the Wyoming oil and gas pipeline company Tallgrass Energy, of which Sheehy’s brother is the president.Sheehy insisted Wednesday that the “stock market is not the economy,” and said that “uncertainty” would cause disruptions as Trump attempted to create a new “economic landscape.”Sheehy’s coping mechanism was similar to that of the dumbest U.S. senator, Tommy Tuberville, who was interviewed on Fox Business Monday. “People are looking at the stock market like, ‘Hey this is how it’s going to continue to be for months and months and months’—that’s not gonna happen,” Tuberville said. “We were probably over-bloated with the stock market here, for a while.”
https://newrepublic.com/post/192715/republican-defense-donald-trump-stock-market-crashing