Trump said if he's impeached, 'the market would crash' and 'everybody would be poor.' Don't bet on it.


President Trump gave himself an A+ for his job performance in a friendly interview with Fox & Friends' Ainsley Earhardt broadcast Thursday, and he thought so highly of his governing skills, he turned them into a novel argument against impeachment. "I don't know how you can impeach somebody who's done a great job," he said. "I'll tell you what, if I ever got impeached, I think the market would crash. I think everybody would be very poor, because without this thinking," he added, pointing to his head, "you would see numbers that you wouldn't believe, in reverse."
On CNNMoney, Paula Newton disagreed with that assessment, and she got backup from New York Stock Exchange floor trader Peter Tuchman.
Historically, Axios notes, "stocks continued to rise during and after Bill Clinton's impeachment, which occurred a bit earlier in a long bull market than where we're at today. Stocks fell when Richard Nixon resigned, but markets were reacting to a confluence of other events like a global oil crisis."
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Stock Trader's Almanac researcher Christopher Mistral told Axios that the markets haven't flinched at the news of Paul Manafort's conviction or Michael Cohen's guilty pleas, and "because impeachment of Trump has been talked about for so long I would not expect it to not have any real impact on the market even if it does happen." Vice President Mike Pence "would become president and the majority of the policies that Trump has put in place would stay in place," he added. It's also worth noting that only 54 percent Americans own any stock at all, including through mutual funds or 401(k)s, according to a 2017 Gallup report, and "the richest 10 percent of households controlled 84 percent of the total value of these stocks in 2016," New York University economist Edward Wolff wrote in a 2017 study.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.
-
How clean-air efforts may have exacerbated global warming
Under the Radar Air pollution artificially cooled the Earth, ‘masking’ extent of temperature increase
-
September 14 editorial cartoons
Cartoons Sunday’s political cartoons include RFK Jr on the hook, the destruction of discourse, and more
-
Air strikes in the Caribbean: Trump’s murky narco-war
Talking Point Drug cartels ‘don’t follow Marquess of Queensberry Rules’, but US military air strikes on speedboats rely on strained interpretation of ‘invasion’
-
House posts lewd Epstein note attributed to Trump
Speed Read The estate of Jeffrey Epstein turned over the infamous 2003 birthday note from President Donald Trump
-
Supreme Court allows 'roving' race-tied ICE raids
Speed Read The court paused a federal judge's order barring agents from detaining suspected undocumented immigrants in LA based on race
-
South Korea to fetch workers detained in Georgia raid
Speed Read More than 300 South Korean workers detained in an immigration raid at a Hyundai plant will be released
-
DC sues Trump to end Guard 'occupation'
Speed Read D.C. Attorney General Brian Schwalb argues that the unsolicited military presence violates the law
-
RFK Jr. faces bipartisan heat in Senate hearing
Speed Read The health secretary defended his leadership amid CDC turmoil and deflected questions about the restricted availability of vaccines
-
White House defends boat strike as legal doubts mount
Speed Read Experts say there was no legal justification for killing 11 alleged drug-traffickers
-
Epstein accusers urge full file release, hint at own list
speed read A rally was organized by Reps. Ro Khanna and Thomas Massie, who are hoping to force a vote on their Epstein Files Transparency Act
-
Court hands Harvard a win in Trump funding battle
Speed Read The Trump administration was ordered to restore Harvard's $2 billion in research grants