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Furious Wall Street traders rip into Trump for tweets that keep crippling the market: report

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Wall Street traders are faced with a horrific dilemma as a supposedly business-friendly president keeps roiling the markets with off-the-cuff tweets making their analysis of market trends moot.

According to Bloomberg interviews with Wall Street execs, Donald Trump’s tweets about tariffs and various industries he has a beef with has made their job as difficult as it has ever been.

Noting a Trump tweet about new China tariffs the president posted last Sunday, Kingsview Asset Management portfolio manager Paul Nolte complained, “Have you ever seen the movie ‘Airplane’? It was just a bad week to stop sniffing glue. When that got announced, it was like, well, this is going to be a volatile week.”

As Bloomberg reports, “After rising for 54 of the first 85 days, the S&P 500 slid for four straight sessions before a reprieve on Friday. Swings in U.S. futures were 77% wider than the average this year. Yep — President Donald Trump was back to waging a trade war on Twitter, making lives interesting in the equity class.”

Other execs chimed in saying Trump has changed — not for the better — how they do business.

“If I were younger and looking at a short-term time horizon, I’d be pulling my hair out,” lamented Jack Ablin, Chief Investment Officer at Cresset Wealth Advisers. “But I hate to say, after decades of being in the business, Trump’s Twitter is part of my strategy. You look at income statements, balance sheets, and then you check his Twitter account.”

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Bloomberg reports, “Most said they were too shocked by the torrent of headlines to do much — but it hasn’t made the decisions any easier. How will tariffs influence corporate earnings? The economy? Is Trump pursuing sound policy, or just campaigning?”

Ed Keon, a portfolio manager for QMA, also complained about working in the age of Trump.

“How do you teach a quantitative model to understand Trump’s tweets?” he said. “How do you assess human interaction that’s this complex? It’s helpful to have a quantitative spine, but there are some things that quants just don’t understand. And it’s very difficult to model.”

Nolte agreed, adding, “I try to focus more on that and less on the 2 a.m. tweets or the five tweets at 6 o’clock and all the rest of that crap. Thank god I’m not on Twitter. Holy cow, that’s work.”

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Progressive reformer claims victory in fiercely-contested Queens DA race

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Progressive reformer Tiffany Cabán has declared victory in her campaign versus Melinda Katz in the Queens District Attorney race.

With 99% of precincts reporting, Cabán held a lead of 1,090 votes, The New York Times reports.

Cabán was backed by Rep. Alexandria Ocasio-Cortez (D-NY) and Sen. Bernie Sanders (I-VT).

Katz was backed by Rep. Gregory Meeks (D-NY), who chairs the Queens Democratic Party, and Rep. Hakeem Jeffries (D-NY)

https://twitter.com/CabanForQueens/status/1143721257353076737

https://twitter.com/CabanForQueens/status/1143721448168710151

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2020 Election

New 2020 poll shows Trump trailing all Democrats — some by double-digits

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President Donald Trump trails all of his Democratic rivals in hypothetical matchups of the 2020 presidential race, according to the result of a new poll released Tuesday.

This article originally appeared on Salon.

The survey, conducted by Emerson Polling, found that the president lags behind former vice president Joe Biden and Sen. Bernie Sanders, I-Vt., by 10 points nationally — 45 percent to 55 percent. He also trails Sen. Elizabeth Warren by six points — 47 percent to 53 percent —and Sen. Kamala Harris, D-Calif., and South Bend, Ind. Mayor Pete Buttigieg by four points — 48 percent to 52 percent.

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Beto O’Rourke’s ‘war tax’ policy proposal is straight out of ‘Starship Troopers’

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Amid an overcrowded Democratic presidential candidate field, it's hard to distinguish yourself from the pack if you don't slot easily into the scale that runs from "pro-corporate centrist" to "left-populist." If you're former Texas congressman Beto O'Rourke —  who falls somewhere in the middle, politically, and somewhere towards the top, looks-wise — you pull a militaristic policy proposal out of your hat that recalls some of the most campy pseudo-fascist sci-fi ever written.

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 ENOUGH IS ENOUGH 

Trump endorses killing journalists, like Washington Post columnist Jamal Khashoggi. Online ad networks are now targeting sites that cover acts of violence against dissidents, LGBTQ people and people of color.

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