Donald Trump quickly found someone to blame in Kamala Harris. Picture: keystone
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Donald Trump is trying to blame Kamala Harris for the global stock market crash of the past few days. This is completely absurd – as these four points (at least) show.
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In recent weeks, things have not been going as he imagined for Donald Trump. Kamala Harris has now surpassed him in the polls, his representative JD Vance has engaged all the important voter groups and so far his team has found it difficult to effectively transition the campaign to the new opponent .
Accordingly, Trump never misses an opportunity to show the electorate the “disorder” that threatens him if the other side wins. In his logic, a stock market crash like this comes at the right time. And Trump wouldn’t be Trump if he didn’t already have a suitable word – the phrase “Kamala Crash” was born less than an hour after the US stock market opened on Monday.
Donald Trump on Monday on his Truth Social platform. Bild: screenshot truth social
After the kind help of the Republican Party organizing committee (NRC), #KamalaCrash is already trending on social media. (Incidentally, Trump’s new nickname for Kamala Harris herself can be seen just as often: “Kamabla”. It’s unclear exactly what that means and whether the nickname will catch on.)
Of course there is a strategy behind the attack. It’s easy to explain: Trump and his team are doing everything they can to connect Harris with Joe Biden as closely as possible. As a representative of the current government, she will have to explain her economic decisions, which have a direct impact on the stock markets, although mainly in the eyes of Trump.
It is not yet clear how the fall in the stock market should be assessed. Some see it more of an expected correction than a long-term crash. There were at least positive signs from Japan, where the stock market made historic gains again on Tuesday. And the American indices opened in positive territory as well. Others fear the clutter could be just the beginning. In any case, the stock exchanges in Europe were still not sure on Tuesday where the trip was going.
Whatever the coming days may look like, the “summer storm” on the stock market has given their campaign a long-awaited boost. Although experts and analysts cite various, sometimes independent, reasons for the price losses, former president Kamala Harris is solely to blame. It shows that Trumps Who Defy Social-Truth-Jobs in a few hours:
Excerpt from her posts:
1/8
Donald Trump blames Kamala Harris for the stock market crash
KAMALA IS UNCOMMISSIONED!!!
quelle: social truth screenshot
Meanwhile, memes and photo collages from Trump supporters showing Kamala Harris in front of a red wall with negative numbers are flooding social media:
Blaming a sitting president – let alone his vice president – for the global stock market crash (which many expect) is absurd. It is even more absurd that Trump in particular is doing this. For the following four reasons:
A president has little influence on the stock market price
The recent turmoil in the stock markets is just “a reminder that investors are no better than hyperactive first graders who play Journey to Jerusalem and always try to get ahead of the others when the music stops.” So said recently an analyst told CNN. In other words: In many cases, the stock market tends to overreact, resulting in an equally rapid correction. Why? “Well, that’s just how Wall Street does things.” (CNN)
In fact, economic news can trigger or amplify short-term rallies or crashes. However, significant movements in the stock market result from a large number of variables that cannot be influenced by one person alone. Trump would still have to explain how much the drop in prices on the Japanese stock market (indirectly caused by a key interest rate increase), which influenced the crash of Wall Street, is connected to the Biden/Harris government.
Who gets Harris in the ring:
The biggest accident happened under Trump himself
Even if the former president were right and a president’s performance directly affects the stock market price, he would probably be one of the worst presidents ever.
On March 16, 2020 (when Trump was still president), the Dow Jones fell nearly 3,000 points or nearly 13 percent, recording the largest point decline on record and the largest one-day percentage decline since the stock market crash of 1987 After the US After the S&P 500 stock index reached a record high on February 19, 2020, it fell 34 percent by March 23 – one of the steepest declines in history.
“This is Trump’s stock market” – he himself said
In January 2024, when the stock market posted another record high, the 78-year-old posted the following on his platform:
“THAT’S TRUMP’S STOCK MARKET BECAUSE MY VOTES AGAINST BIDEN ARE SO GOOD INVESTORS EXPECT ME TO WIN.”
Donald Trump’s job is bad in many ways.
His latest posts on Truth Social show again: Donald Trump sees positive market developments as a success for himself (even if he is no longer president);
This makes sense in its logic, because it is not a good idea to associate yourself with share prices from the beginning – precisely because they cannot be influenced. Throughout history, politicians have always avoided “tying their fate to the stock market to signal their politics, because the market always goes up and down,” Moody’s chief economist explains to CNBC.
Most Americans don’t care about the stock market
Trump’s accusations seem even more absurd when you look at the history of his obsession with the stock market. Trump is known for his “longstanding emphasis on stock indexes as a barometer of economic health and even as a proxy for the polls — a measure of his own performance and popularity,” writes the “New York Times”.
It shows once again how little he cares about the average American woman – and how focused he is on simple, raw numbers from the big world of Wall Street.
After all, not a majority of US citizens are very interested in the – short-term – changes in the stock market. It mainly involves large investors, stock market speculators and, especially recently, owners of technology stocks that have a lot to gain or lose. What really matters to people is how much they have to pay for food – ie how high is inflation.
Conclusion: “It’s complicated” is a difficult way to campaign.
Trump’s posts add almost childlike joy to the stock market slump of the past few days. They show in an absurd way how important the bad economic news is to the presidential contender. Because, and most people know about this: The economy is stupid. The state of the economy will determine the November elections.
In fact, bad news (supposedly), no matter how complicated it is to evaluate, could suddenly end the “honeymoon phase” in which Kamala Harris has been since the beginning of this election campaign. The Vice President himself also knows this.
Harris’ team didn’t wait long to hit back: “What middle-class families need is consistent economic leadership, not chaotic tall tales,” Ammar Moussa, a spokesman for Harris’ campaign, said in a statement. And further:
«Donald Trump had the worst labor market record of any modern president and oversaw some of the worst stock market days in history while spending his presidency in the pockets of his wealthy friends who moved America’s jobs over country Economists agree: His plans would increase costs for working families by $2,500 a year and add to inflation.”
The problem with Harris, however, is what the majority of Americans believe the economy is in recession. Surveys show this again and again, although the statistics actually show the opposite: economic growth was impressively high in the first half of the year, employment growth remained relatively strong despite the slowdown in job creation in July – and the inflation is equally important. to relatively more normal rates after much.
But a lot can still happen before the elections. The US Federal Reserve Bank has announced that it will lower key interest rates again for the first time in September. This could address many investors’ fears of recession, while increasing the likelihood that prices will not fall further.
The central bank makes decisions completely independent of the government, even if Donald Trump would convince his supporters if it were his objective. But the economic context is complex. And “It’s complicated” is a difficult way to campaign. Bold red numbers on a large display offer a much simpler alternative – no matter how absurd the argument.
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