Yesterday Goldman predicted Trump would have to hold off on tax reform due to keeping busy trying to repeal Obamacare. That turned out to be fake news, as today Sec. Mnuchin said tax relief was coming by the August recess.
Now the ‘AP’ is reporting, via unnamed republican sources, that Trump’s magnum opus, the very reason why he was elected, to build the wall and upgrade American infrastructure, would be inexorably delayed until next year.
Source: Axios
The Capitol Hill calendar is way overstuffed — a Supreme Court nomination, plus Obamacare repeal legislation; tax reform; and budget, spending and debt-ceiling fights, including a possible showdown over a government shutdown.
So Republican sources tell us that a backup plan is emerging for one of Trump’s top priorities:
The plan: Push off until next year any consideration of the massive infrastructure plan Trump wants to push for roads, airports and other big projects, giving Republican lawmakers more breathing room amid a crowd of issues that’ll require massive effort, time and political capital.
The politics: Republican strategists say that Democrats, who’ll be reluctant to give Trump a win, will be in a jam as midterm elections close in: They’ll be under huge pressure to support big projects that’ll bring money and improvements to their districts. And blue-collar unions, including construction and building trades, can be expected to favor of the package, driving a wedge into the Democratic base.
What this shows: Trump officials, who originally wanted to flood the Capitol zone with their massive asks, are learning the rhythms of Washington — playing what White House counselor Kellyanne Conway last night called on Fox News “long ball, long haul.”
So let’s follow the logic here, shall we? Unnamed sources who spoke to the AP, an organization known to be very anti Trump, is telling us Trump will delay his big infrastructure bill because it’ll make democrats look bad, giving him ‘a win’, ahead of the mid-term elections? What in the actual fuck?
Does that sound like something Trump might do, sacrifice his economic stimulus plan so that the democrats could win some elections in the Fall?
Or, here’s another theory.
Stock market hits new high with longest winning streak in decades. Great level of confidence and optimism – even before tax plan rollout!
— Donald J. Trump (@realDonaldTrump) February 16, 2017
Both Trump and Sec. Mnuchin are on record praising the stock market’s rally, using it as proof that Wall Street likes the direction of the administration’s policies. Leftards view this rally, or anything remotely supportive of Trump, to be hateful. They’ve even formed organizations to protest any item that is produced by anyone supportive of the President.
Here was Sec. Mnuchin today, in a CNBC interview — praising the market rally.
“There’s a lot of confidence in the Trump administration and in the desire to invest in the U.S.,” he told CNBC in an exclusive interview Thursday. “This is a very competitive place to do business. We’ve got great companies, and you see that reflected in the markets.”
The net result is an absolute rout in Trump infrastructure stocks, like $X, $CLF, $SLCA, $KALU, $USCR, $CMC, $AA and $CAT — just to name a few.
Even if the infrastructure bill was delayed to 2020, people should know the price of copper and steel isn’t born in America, but in China.
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No way POTUS lets this get delayed. Time to double up on infrastructure plays. Buy every dip.
Had a chance to sell CLF over $12 this morning. UGH.
Keep in mind, $CLF guided up big based on $81 avg iron ore. We’re still well above that and have about 5 weeks until the quarter ends.
Don’t sweat it.
Yeah, but the volatility is crazy.
Trust me, I know. The way I see it is that you have maybe $2.00 to the downside vs. $10-$12+ to the upside.
Was thinking about clearing the deck w/ my infrastructure plays but decided against it. I want to see how the market reacts over the next week or so. I feel like people are overreacting and were looking for a reason to bail.
All we need is a Trump FAKE NEWS tweet and we’re good.
apparently Thursday has become Whoresday.
Top of Drudge link quoting John I’ll have another scotch Boner. ACA will not be repealed and replaced.
And a pack of cigarettes. Dude is a scumbag
I know right ? Ryan has got to go. And Preibus too.
It’s like every time there is a market holiday in a week, that week sells off.
Unnamed sources are as attractive as the runt children girls at CNBC. And as informed.
Gonna be hard to get all the things you guys masturbate to done when he’s so busy with important things. Like press conferences, being a teenage girl on TWTR, and getting his news from FOX.
What’s your guy Weiner up to these days ?
My guess would be showing his Dick somewhere….