General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsA President's words can move markets.
Amazon lost about 5% of its market today. The last time it lost 5% of its market back in February, Jeff Bezos, CEO of Amazon, lost over $3 billion dollars in personal wealth. As did Mark Zuckerberg. They may have received a $750,000,000 tax cut but they lost 4 times that much in the market. Much of it can b e attributed to the bad-mouthing of the company from Donald J Trump.
Should this be legal for a President to do? Everytime he badmouths a business, it loses big on the stock market and its owner and stockholders and people with 401Ks also lose big.
Matthew28
(1,798 posts)happens when someone with real power speaks against the market.
Trade war
Against Amazon
etc.
GreenEyedLefty
(2,073 posts)But his hubris will bring him down, if nothing else does.
ck4829
(35,077 posts)Yes, this means losing your respect for the office.
Stop.
Giving.
His.
Lies.
Quarter.
dhol82
(9,353 posts)ck4829
(35,077 posts)Last edited Tue Apr 3, 2018, 05:25 AM - Edit history (1)
Esp. those who know economic anxiety (The one where you have to choose between groceries or utilities not the conservative "economic anxiety" where right wingers simply don't want to work alongside black or Hispanic people) is not a reason to become less inclusive or less progressive.
We've given too much power to one man, and now we're seeing what happens when you give this power to an unstable and morally and financially bankrupt man. And the 'funniest' part of all? Trump's POTUS powers aren't divine or genetic, we agree that he has them, and voila, he does. The sooner we realize this, the quicker we can take that power away.
dhol82
(9,353 posts)napi21
(45,806 posts)I'm sure the Conman goes after businesses who piss him off for something or other and he doesn't care what happens to their stock. Even if he did it to deliberately harm them, intent is almost impossible to prove.
Angry Dragon
(36,693 posts)Trump has bad mouthed other companies before and he has seen that their stocks have fallen. So he does know that if he bad mouths other companies their stocks will fall. So he DOES KNOW what will happen. Proves intent
Angry Dragon
(36,693 posts)A HERETIC I AM
(24,370 posts)but what Amazon lost was 5% of its Market CAPITALIZATION, not its "market".
If it had lost 5% of its market, then it would have ninety five percent of its previous customers remaining.
kentuck
(111,102 posts)I am not very knowledgeable about the market, obviously.
A HERETIC I AM
(24,370 posts)It is sometimes said that they lost 5% of their "market value", but in the purest sense, that can be considered inaccurate, because the stock float is not always reflective of the entire value of a company - think real estate, buildings, transportation equipment, etc.
Another thing to think about:
The net worth of the 3 or 4 most famous rich Americans: Bill Gates, Warren Buffet, Jeff Bazos, Zuckerburg, can vary considerably day-to-day based on the share price of their company stock. The vast majority of that personal wealth is in company stock, not in stacks of $100 bills in a vault somewhere.
Bazos might be richer than Gates today, but if Amazon tanks and Microsoft goes up, their places can flip in a single trading day.
imanamerican63
(13,798 posts)he is gonna destroy everything and everyone he can!
dae
(3,396 posts)to invest accordingly. Jared then wont have to borrow as much for the Albatross.
Girard442
(6,075 posts)kentuck
(111,102 posts)However, it's hard to say anything is "illegal" nowadays...
Demsrule86
(68,586 posts)antifash
(18 posts)I don't like Trump (obviously), but I also find it hard to cry for Bezos and Zuckerberg when they lose 10,000x what the average person's net worth will EVER be and don't feel a thing. To me this is a clear cut case of assholes colliding.
kentuck
(111,102 posts)We are just looking at the facts.
When big assholes collide, the little assholes are sucked into the black hole.
That's the problem.
Demsrule86
(68,586 posts)Facebook stole data...big difference.
Demsrule86
(68,586 posts)are a disgrace.