Those of us who live on the income from our assets — invested in the stock market — are rarely happy with wild swings such as we’ve seen in the last few days: 500 points up when investors thought Trump had a deal with China, 800 points down when the “deal” began to appear more like the usual Trump smoke and mirrors.
The point here is simple, was visible before Trump was elected, and should be evident to all by now: the man lies as easily and readily as water flows out of a faucet. When not outright lying he’s exaggerating, or making things up out of whole cloth. No one can rely on anything he says, unless corroborated by real time transcripts. Certainly the sycophants who attend meetings with him, people like Pompeo and Bolton, can’t be relied up for corroboration. They are too busy trying to backtrack to account for Trump’s wild stories.
Investors and money managers need to stop taking action based on what Trump says. The word of the President of the United States is useless as a barometer of anything.