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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsTrump Econ. Adviser on Trade War Fallout: 'Heck of a Lot' of U.S. Companies About to Report Low...
Trump Economic Adviser on Trade War Fallout: Heck of a Lot of U.S. Companies About to Report Low Earningsby Ken Meyer | Jan 3rd, 2019, 11:55 am
White House economics adviser Kevin Hassett was in a chipper mood on Thursday as he predicted many companies will announce lower than expected earnings as a result of the trade war with China.
As Hassett spoke to Poppy Harlow on CNN, he was asked about how the Dow is down by more than 500 points today after Apples shares dropped by 9% amid a weak sales forecast. Since Apple CEO Tim Cook is attributing this to President Donald Trumps trade war with China, Hassett argued that this fits with what hes been saying about how the U.S. economy is supposedly growing while intercontinental markets are slowing down.
Its not going to be just Apple, Hassett said. There are a heck of a lot of U.S. companies that have sales in China that are going to be watching their earnings being downgraded next year until we get a deal with China.
As Hassett continued to talk up Trumps pressure campaign against China, Harlow called his admission a significant warning about future connotations of the trade war. When she asked him if Trump is concerned about the stock market having the worst performance it has seen since the Great Depression, Hassett insisted that Trump is on it, and that markets tend to fluctuate anyway in periods of expansion and international negotiations.
The interview went on with Hassett facing questions over equity markets and whether Trump was right to say market losses last month were just a glitch.
video
https://www.mediaite.com/tv/trump-economic-adviser-on-trade-war-fallout-heck-of-a-lot-of-u-s-companies-about-to-report-low-earnings/
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Trump Econ. Adviser on Trade War Fallout: 'Heck of a Lot' of U.S. Companies About to Report Low... (Original Post)
DonViejo
Jan 2019
OP
Wellstone ruled
(34,661 posts)1. Well,Hassett can kiss his ass good bye
shortly.
I know I know,it is the other Guy's fault . Wait for it,Poor bugger will feel the wrath of Dumb Donnie soon.
GusBob
(7,286 posts)2. I get the impression he is bragging about it, like its a warning
Remember his boss attacked HD, GM and God knows whom else.
Its seems like he is crowing---get in line US companies, or misery upon ye!
Wellstone ruled
(34,661 posts)3. If we have a MAGA Market drop tomorrow,
the week end will be interesting. The Big Boy's will move on their POS in the oval office.