Trump said if he's impeached, 'the market would crash' and 'everybody would be poor.' Don't bet on it.
![Trump talks impeachment](https://cdn.mos.cms.futurecdn.net/hHQ9mGCSwh3nkdD7tGQmch-415-80.jpg)
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."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
![https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516-320-80.jpg)
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.
Sign up for Today's Best Articles in your inbox
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.
-
7 drinks for every winter need possible
The Week Recommends Including a variety of base spirits and a range of temperatures
By Scott Hocker, The Week US Published
-
'We have made it a crime for most refugees to want the American dream'
Instant Opinion Opinion, comment and editorials of the day
By Anya Jaremko-Greenwold, The Week US Published
-
Was the Azerbaijan Airlines plane shot down?
Today's Big Question Multiple sources claim Russian anti-aircraft missile damaged passenger jet, leading to Christmas Day crash that killed at least 38
By Harriet Marsden, The Week UK Published
-
Putin says Russia isn't weakened by Syria setback
Speed Read Russia had been one of the key backers of Syria's ousted Assad regime
By Peter Weber, The Week US Published
-
Georgia DA Fani Willis removed from Trump case
Speed Read Willis had been prosecuting the election interference case against the president-elect
By Rafi Schwartz, The Week US Published
-
Democrats blame 'President Musk' for looming shutdown
Speed Read The House of Representatives rejected a spending package that would've funding the government into 2025
By Peter Weber, The Week US Published
-
Trump, Musk sink spending bill, teeing up shutdown
Speed Read House Republicans abandoned the bill at the behest of the two men
By Peter Weber, The Week US Published
-
Congress reaches spending deal to avert shutdown
Speed Read The bill would fund the government through March 14, 2025
By Peter Weber, The Week US Published
-
Luigi Mangione charged with murder, terrorism
Speed Read Magnione is accused of murdering UnitedHealthcare CEO Brian Thompson
By Peter Weber, The Week US Published
-
Ex-FBI informant pleads guilty to lying about Bidens
Speed Read Alexander Smirnov claimed that President Joe Biden and his son Hunter were involved in a bribery scheme with Ukrainian energy company Burisma
By Rafi Schwartz, The Week US Published
-
South Korea impeaches president, eyes charges
Speed Read Yoon Suk Yeol faces investigations on potential insurrection and abuse of power charges
By Peter Weber, The Week US Published