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Trump’s lies led to a 3% worldwide stock market selloff today

Trump lied about the result of his dinner with Xi regarding the trade war. Yesterday millions of people put billions of dollars into the market on the positive news and the market was up 1.1%.

“It doesn’t seem like anything was actually agreed to at the dinner and White House officials are contorting themselves into pretzels to reconcile Trump’s tweets (which seem if not completely fabricated then grossly exaggerated) with reality.” – JP Morgan trading note 12-4-18

Last night it became clear that Trump’s tweets and statements were exaggerations at the minimum and more likely outright lies. What he did would warrant an investigation by the SEC if he were the CEO of a publicly traded company. Elon Musk was fined millions for pumping the price of his stock on fake news. Trump pumped the price of almost all stocks around the world with his fake news. His lie is objectively one of the most financially damaging in his presidency so far. As a result, stocks around the world sold off very hard today. We were down over 3% today, and had Trump told the truth, we probably would have been somewhat stable over these last two days.

The market was given it’s most obvious signal so far that Trump lacks appropriate understanding of financial markets and it rebelled.

Parts of the yield curve inverted (not a good thing) overnight after the Trump news broke. It was a big moment as we’ve been avoiding yield curve inversion even thought we’ve been close for about a year. It’s inversion portends a recession within 18 months. There’s a joke in financial markets that yield curve inversion has correctly predicted 11 of the last 9 recessions.

The only hope left to save the market in Trump’s term is for them to do what they did with NAFTA, which is to do virtually nothing, remove tariffs, and pretend they made a deal.

This was a very big 24 hours in Trump’s Presidency.

When companies break reporting laws like Trump did, there are always class action lawsuits that follow as investors report that they’ve lost money. Sometimes investors get paid on the losses that they had based on the move they made due to the fake news.

Millions of people around the world are owed billions of dollars for investing yesterday on Trump’s fake news.

Trump’s Aides Struggle to Detail Deal He Says He Cut With Xi

Be the first to comment - What do you think?  Posted by Sapient - December 4, 2018 at 5:17 pm

Categories: Stocks, Trump   Tags:

Coal jobs are lost when keeping streams clean, because they can’t keep streams clean.

Quick post from phone:  Republicans overturned a rule that required coal companies to test water streams for environmental damage and adhere to certain levels when mining. Coal company lobbyists paid Republicans to say “the rule will cost American jobs.”

Ask yourself, how would hiring several environmental impact inspectors actual costs American jobs? If a company needs to adhere to stricter guidelines to keep our water safe, that would only increase the amount of jobs. More products would be needed to maintain those standards in addition to the staff responsible for testing.

There are a few reasons it could cost American jobs:

– It’s impossible for the coal industry to keep our water safe when mining near streams, therefore they can’t work at all. Unfortunately for them, this saves lives and as such takes precedence over a few jobs (not to GOP representatives that get money to put jobs over lives)

– It’s impossible for the coal industry to be profitable if a few thousand dollars of environmental testing are added to their task. The margins are too short as nat gas is very low in price.

In both scenarios clean energy can create jobs and save the environment. Unfortunately for clean energy it doesn’t pay off Congress to act like complete fucking assholes!

Be the first to comment - What do you think?  Posted by Sapient - February 3, 2017 at 8:32 am

Categories: Environment, Government   Tags:

Thanks Senator Casey for voting No on Tillerson

Dear Senator Casey,

Thank you for voting NO on Rex Tillerson.

I also want to thank you in advance as I heard you plan to vote no on Jeff Sessions, Betsey DeVos, Tom Price, Scott Pruitt, and Steven Mnuchin.

I really want to see you slow up Trump and the GOP party. They’ve taught us a great lesson in obstruction. They weren’t punished at the ballot boxes for obstructing at every turn, and your obstruction will actually be rewarded by the activists that are working together to limit the damage that the Republican Winter will cause.

Keep up the good work!

– Brian

I sent the above brief letter to Senator Bob Casey. Don’t forget to thank your elected officials when they do the right thing.

Be the first to comment - What do you think?  Posted by Sapient - February 1, 2017 at 8:05 pm

Categories: activism/volunteering, Government   Tags:

Donald Trump diagnosed with malignant narcissism

Just before the election I wrote a piece about Donald Trump being a sociopath:

Donald Trump is a sociopath

This week a psychotherapist, John Gartner from Johns Hopkins University has diagnosed Donald Trump with malignant narcissism.  I’ll add that to our existing diagnosis of sociopath.

…it’s obvious from Trump’s behavior that he meets the diagnostic criteria for the disorder, which include anti-social behavior, sadism, aggressiveness, paranoia and grandiosity. Trump’s personality disorder (which includes hypomania) is also displayed through a lack of impulse control and empathy, and “a feeling that people … don’t recognize their greatness.

Source: USNEWS

Be the first to comment - What do you think?  Posted by Sapient - January 29, 2017 at 9:01 pm

Categories: Government, Science, Trump   Tags:

Short open letter to Pat Toomey on Scott Pruitt and Climate Change

Senator Pat Toomey of PA just wrote back to me:

Thank you for contacting me about the nomination of Scott Pruitt as Environmental Protection Agency (EPA) Administrator. I appreciate hearing your thoughts on this matter.

As you know, on December 7, 2016, President Trump announced his intention to nominate Scott Pruitt to serve as the next EPA Administrator. Currently, Mr. Pruitt is the Oklahoma Attorney General and, among other things, he has been involved in litigation on various environmental matters.

Now that the Senate confirmation process for Mr. Pruitt has begun, I value knowing your views about this nomination. I believe that the Senate’s constitutional role in providing advice and consent for presidential appointments is important, and all nominees deserve careful and thorough consideration. As you may know, I supported many of President Obama’s nominees and will support well qualified nominees selected by President Trump as well.

Also, while I have supported sensible environmental protections, I am concerned about the excessive regulations coming out of the EPA in recent years that needlessly impede job creation and hurt the pocketbooks of hard-working Pennsylvanians. Under the Obama Administration, the EPA was especially aggressive in proposing new rules that raised energy prices, imposed onerous compliance costs, undermined economic growth, and put Pennsylvanians out of work. I am hopeful that the next EPA Administrator will take a new direction and pursue a more balanced approach that is mindful of both our economy as well as our environment.

Thank you again for your correspondence. Please do not hesitate to contact me in the future if I can be of assistance.

My quick response from cell phone on my lunch break:

Senator Toomey,
The clean energy industry has the ability to create lots of jobs and save humanity at the same time. It’s important that we have sensible regulations that limit carbon emissions. The end of a livable climate on Earth isn’t worth a small dollar savings.
Pruitt doesn’t accept climate change, will work to benefit oil industry, and will help cause the end of humanity.
He is the opposite of a qualified candidate. A vote for Pruitt will put you on the wrong side of history and is a disservice to the lives of the people you represent.
Please support expanding clean energy jobs in PA to achieve your stated goal.
Do you understand and accept that humans are playing a huge role in limiting the time we have for a livable Earth?
Please, on this issue, do the right thing for humanity, and not the oil industry that gives you money.
Extremely concerned,
Brian Sapient

Be the first to comment - What do you think?  Posted by Sapient - January 27, 2017 at 8:37 pm

Categories: activism/volunteering, Climate Change, Environment, Government, Science   Tags:

Make America Great Again

Depending on the metric you use the United States of America is anywhere from the 5th-30th best country on Earth.  One could argue with advancements in technology, science, way of life, and civil liberties we’re living in the best time of American history.  That’s why it was so ridiculous that Trump’s campaign slogan was “Make America Great Again.”  What’s more ironic is that from the day Trump started to run, and after he got the nomination, he slowly made America suck.  Every day that Trump is in the White House, America sucks even more.  We suck so much that most people are sick of sucking already.

IRONY: Whoever runs for President in the next election can use the motto “Make America Great Again” and for the first time, it’ll be a true statement.


Be the first to comment - What do you think?  Posted by Sapient - January 23, 2017 at 9:23 pm

Categories: Government, sapient, Trump   Tags:

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