Wall Street to Trump: No trade wars. And lay off Amazon

'Wall Street is sending President Trump a message: Don't start a trade war. And lay off Amazon, one of the most important companies in America.
The president played a starring role in last year's stock market boom. Now he's getting the blame as Wall Street hits the skids.


Trump's fingerprints were all over Monday's market sell-off. The Dow fell 459 points and the Nasdaq plunged almost 3%. The stock slump also spread to Asia, with benchmark indexes in Tokyo, Hong Kong and Shanghai all declining about 1% on Tuesday morning.


Trump's repeated and vociferous attacks on Amazon (AMZN) unnerved investors because they raise the specter of regulation — without any clues about what Trump wants.

"Calling out Amazon without offering any type of prescription is what's concerning the market," said Erin Browne, head of asset allocation at UBS Asset Management.


Amazon has lost $60 billion in market value since Axios first reported Trump is "obsessed" with the company on March 28.

Since then, Trump has repeatedly suggested Amazon takes advantage of the US Postal Service and doesn't pay its fair share of tax.

In fact, Amazon pays the same lower rate that the post office charges other bulk shippers, and it collects sales tax in every state that charges it. Amazon does not collect sales tax on purchases made from third-party vendors.

Trump has a long-held grudge against Amazon CEO Jeff Bezos, who also owns The Washington Post — a paper whose aggressive coverage of the administration has drawn the president's wrath.

"Any time Trump, or any president, starts interfering in corporate behavior, that is concerning for the market," Browne said.'

http://money.cnn.com/2018/04/02/investing/trump-amazon-trade-war-wall-street/index.html


I hope Trump listens to Wall Street in the future.

 

Trump does not get it.

Wall Street, Amazon, Twitter, and Google can end his presidency pronto.

And a solid majority of the people will support it.

Does anyone doubt that the last three will out any foreign attempt to influence our elections this fall?

 

Trump is the last person on this earth who should complain about someone else who have not "pay their fair share of taxes." The super duper business guys have declared bankruptcy multiple times in order to avoid paying taxes....leaving contractors/employees/tax payers holding the empty bag. To boot, without company like Amazon, USPS would have died a long painful death.

 

Trump has now turned around the stock market after its growth throughout Obama's tenure had persisted for over a year into his.

"Silent" is good, but comes a little late.

 

I wonder if Trump is buying Amazon stocks every time he talks it down. He's complaining about the UPS Amazon rates but Amazon are setting up it's own delivery service, as soon as that's done UPS will be looking for new customers to fill the giant black hole Amazon is going to leave, probably Trump will be blamed for this... god I hope so

 

We really ought to consider a law that prevents a President from attacking individuals or particular businesses in this way.

This kind of behavior BEGS for abuse of power to take place

 

He thinks he knows everything about financial matters, and he doesn't. This is a jerk who has gone bankrupt 4 times. If he were allowed, he'd end up bankrupting America. He needs to shut up and listen to advisors, but he never does.

 

Liberals be all like "wtf I love wall street now"

 

Jeff Bezos, whose private sector success, Amazon, has contributed immensely to the US economy, is owner of the Washington Post.

The Washington Post has published articles that are not relentlessly worshipful of Trump.

That provokes yet another vindictive Tantrump.

Threatening America's commercial ahievements and destroying the thriving flagship of US private enterprise is a small price to pay for revenge for damage to a bloated, insecure ego.


That makes the terms "petty" highly problematic, and "priorities" particularly perverse.

​

 

I wonder when Wall Street started to represent the electorate.

President Trump is in office to fulfill an agenda that he promised his constituents, and it isn't what some writer on the staff of the Wall Street Journal thinks it should be.

He was elected to bring jobs back to the USA and to stop one sided, grossly unfair trade practices from such countries as China and Mexico. Meanwhile, I don't see anyone disputing his claims against Amazon about the post office rates and not paying taxes. What would you call it whan a business mogul buys one of the means of communication to attempt to direct or bring down a President?

 

Newsflash. You can't pass any law, you are out of power, bigly LOL and even if you win the congress, you will still not be able to pass any laws. Duh

 

Baby Donald is acting the only way he knows how. That those ways are anti-democratic, boorish, petulant, and far beyond the bounds of what we expect from a prez is of no concern to him or The Following.

 

A tweet from an ignorant @$$ doesn't make things true. The burden is on you to prove his tweets are true. You and your RWers brethens don't seem to mind Trump doesn't pay his fair share of taxes.

 

Why would you think otherwise?

Oh...I remember! It's the wingnut-radio mantra! The one about all Progressives being communists, right?

Yep! Repeat a lie often enough, and the critical-thinking impaired will believe it.

 

Occupy wall street was well received by many on the left.

 

Did you notice the historic rise of the market after Trumps election was because of Obama but the inevitable correction is all Trumps fault.

Gotta love lefties...

 

So I guess that all the democrats who said Trump wasn't responsible for the positive stock market were wrong.

He was.

Or does that only apply when it drops?

 

That's just how Kim Jong-Trump rolls........................................

 

USPS, not UPS. USPS is the US Postal Service (a quasi-independent part of the U.S. government.) UPS is United Parcel Service, one of the USPS's parcel delivery competitors. I'm wondering why Trump is trying to destroy U.S. commerce. Makes no sense. It's like when Bill Clinton went after Microsoft, which was the beginning of the dot com bust.

 

The post office is giving Amazon good rates, but they are still making a profit on it. Also, you do pay sales tax on Amazon products bought from Amazon. Amazon also has third party retailers through which you only pay sales tax if they are located in your state. Trump is stupid to be attacking the American economy.

 

The "Sinclair" media far right advocates are all "like don't be mean to Donny."

 

Prior to Trump's tariffs, all was not fine. China cheats. They don't play by the rules. Trump was *retaliating* for China's trade abuses. He wasn't "starting" anything.

Libs don't understand economics.

 

Yes I am aware, sorry for skipping an S, UPS is like DHL, I am indeed referring to the Government parcel service.

Trump hates Bezos and abusing his powers as POTUS, in any other circumstances Amazon could sue for manipulating stock prices, perhaps your laws need changing, too much trust in and protection for POTUS.

Indirectly this is an attack on the media (Washington Post)

 

OWS was a protest over the lack of consequences to CEOs that caused a financial crisis, and the undue influence of some corporations in politics. You equate that to hating Wall Street?

The wingnut kool-aid is strong in you, I'm afraid..

 

Peter Navarro says Trump’s trade policies are ‘good for the market,’ but economists aren’t buying it

https://www.cnbc.com/2018/04/03/pet...he-market-but-economists-arent-buying-it.html

As markets plummeted Monday, White House aide Peter Navarro insisted fears of a trade war and President Donald Trump's attacks on Amazon were all wrong.

"Everybody needs to relax," Navarro told CNBC. Trump's trade policy is "good for the market," he insisted, adding: "I teach that stuff. I mean, let's remember – if anybody knows what goes wrong with these models, it's the guy who knows how to teach them."

Navarro taught at the University of California-Irvine before coming to the White House. But considering his comments, fellow economists question his grasp of the curriculum.


Navarro made many assertions to my CNBC colleague Kelly Evans. Some – like calling Trump and his trade representative Robert Lighthizer as "the two best negotiators in America" – represent simple flattery of his bosses.

More significant were economic assessments that his colleagues of both parties call simply wrong.

For example: "I don't see any inflation to speak of in this economy, and a lot of the reason is things like the president's tax cuts."

Fellow economists not only see inflation ticking up, they say Trump's tax cuts will increase it further.

"Inflation is low, but accelerating," explained Mark Zandi of Moody's.

The core Consumer Price Index has risen 2.5 percent on an annualized basis over the last six months and 3.1 percent over the last three months.

Moreover, "it's not current inflation that matters, it's expectations of higher future inflation, added Douglas Holtz-Eakin, a Republican economist who formerly headed the Congressional Budget Office. Economic analysts agree that fiscal stimulus from tax cuts and higher, deficit-financed government spending will increase inflationary pressures.

That's why the Fed has signaled the possibility of three more interest rate hikes this year. "I was a little puzzled," Navarro complained; he sees "moderating inflationary pressures due to productivity growth and supply-side factors."

Navarro described the economy as "hitting on all cylinders because of President Trump's economic policies." Specifically, he cited rising investment spurred by tax cuts.

"Where's the extra investment? Not in the data," wondered Jared Bernstein, an opponent of the tax cuts at the Center on Budget and Policy Priorities. Holtz-Eakin, a tax-cut backer, agreed "the evidence of success is just not in."

Former Obama economic adviser Jason Furman cited government statistics showing overall business investment has risen only in one sector: oil. That, he said, is mostly due to rising prices.

Navarro further argued that Trump's get-tough policies will reduce the trade deficit, attract foreign investment and create jobs. On this point, fellow economists are withering.

"It's ludicrous," said former Obama adviser Austan Goolsbee.

"We are near full employment — what jobs?" asked Holtz-Eakin.

"He seems to misunderstand basic national accounting," added Kyle Pomerleau of the conservative Tax Foundation. Like foreign financing of U.S. budget deficits, foreign investment is itself effectively an import; attracting more of both makes the trade deficit go up.

So does increasing the purchasing power of U.S. consumers who buy products made overseas. In the strong 2017 economy that Trump loves to boast about, the U.S. trade deficit reached its highest level since 2008.

Reiterating Trump's vow to scrap the North American Free Trade Agreement unless Canada and Mexico give better terms, Navarro mocked promises of growth and jobs before its enactment.

"What we got," he concluded, "was hell for American workers and hell for the American manufacturers."

That line works better among voters at political rallies than among economists.

"The evidence is that NAFTA clearly increased jobs and GDP," said Kent Smetters, a former economist for President George W. Bush who now teaches at the Wharton School. In the five years under NAFTA, noted Princeton economist and ex-Obama adviser Alan Krueger, the economy boomed and income inequality declined.

Calling the trade crackdown evidence that Trump "has the back of American businesses and workers," Navarro dismissed the risk of escalation. "I don't think this is going to be action/response, action/response," he said.

Yet China and the European Union have responded, as the Trump administration prepares to specify further tariffs. Corporate executives and investors have both made clear they don't want Trump to have their back this way.

"When Trump takes an economic punch at China and the rest of the world, he simply invites a punch back," Zandi said. A Wharton analysis, Smetters noted, showed that a trade war "would more than eliminate any potential benefits from the tax cut."

As it happens, financial markets on Tuesday took Navarro's recommendation to relax. The Dow Jones industrial average reversed most of Monday's decline.

But Navarro's economist colleagues don't see affirmation for his advice to Trump on, say, the interactions between tax cuts, tariffs, and trade deficits.

"99.999999% of economists agree," Furman said. "The rest are Peter Navarro."
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Just what we need, another nitwit in the WH.