novel thinking
August 24, 2018

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."

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. Peter Weber

January 26, 2017

White House Press Secretary Sean Spicer on Thursday said that President Trump plans to fund the construction of a wall along the U.S.-Mexico border by imposing a 20 percent tariff on Mexican imports. And while Spicer reportedly backtracked the claim, telling NBC News' Peter Alexander just one hour after revealing the plan that it was simply an "example of options" of how to pay for the wall, not a concrete policy proposal, Sen. Lindsey Graham (R-S.C.) took to Twitter on Thursday afternoon to warn of the dangers of imposing such a tax on Mexico.

"Any tariff we can levy, they can levy," Graham wrote, noting that Mexico is the U.S.'s third-largest trading partner. And then he offered this explanation for why imposing such a high tax on Mexican imports would be "mucho sad":

Convincing. Kimberly Alters

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