In a meeting with Airline officials Trumps talks taxes
During a meeting with airline officials Trump spoke about taxes.
“TRUMP TO ANNOUNCE “SOMETHING” ON TAXES IN 2-3 WEEKS”
…cried the news wires. Markets then went potty.
The currency pair USDJPY (a proxy for the US economy) jumped nearly 100 points from 112.25 to 113.20. US government bonds jumped in yields (another proxy for a bullish view of the economy), US stock markets hit new record highs.
Any leader talking tax cuts gets financial markets in a tizzy. One line from Trump and the financial world now expects boom times for the US economy.
How wrong might they be?
What was lost among the headlines was another comment on taxes, this time referring directly to the airline industry:
“I don’t like aviation fees and taxes” said Trump
That’s hardly a screaming message that tax regimes across America are soon to be targeted by Trump. The original comment might also have just been in the context of talking about airlines.
Anyway, taxes are on Trump’s agenda but he’ll need to do more than put his name on an executive order. This is one big area that Congress will be very much involved in.
I guess we’ll have to wait “2-3 weeks” to find out 😉
The Trump schedule today
Hosting some Middle Eastern dignitaries today. Market’s will be on watch for airline stocks though 😉
- 9:00 am ET Daily intelligence briefing
- 9:30 am ET Breakfast with airline industry officials
- 10:30 am ET Participates in the swearing-in of Attorney General Jeff Sessions
- 11:30 am ET Speaks with President Ashraf Ghani of Afghanistan
- 12.00 pm ET Speaks with Emir Tamim bin Hamad Al Thani of Qatar
- 12:30 pm ET Holds a SCOTUS listening session and lunch
- 2:15 pm ET Speaks with Emir Sabah al-Ahmad al-Jabir al-Sabah of Kuwait
- 2:45 pm ET Speaks with Prime Minister Haider al-Abadi of Iraq
Petty politics from US Democrats
Senator Bob Casey has taken offence at Trump’s tweet about his daughter losing her contract at Nordstrom, so has snitched to the Office of Government Ethics.
Snitching by twitter – Poetic justice?
Is this is what US politics is descending into?
The favourite to be US ambassador to Europe, Ted Malloch is spouting off again
- Says Greece should leave the euro
- Greece should have left 4 years earlier when it was easier and simpler to do so
- Greece should return to the Drachma
- The euro won’t last more than 18 months
“Whether the eurozone survives I think is very much a question that is on the agenda. We have had the exit of the UK, there are elections in other European countries, so I think it is something that will be determined over the course of the next year, year and a half.
“Why is Greece again on the brink? It seems like a deja vu. Will it ever end? I think this time I would have to say that the odds are higher that Greece itself will break out of the euro,”
That the euro won’t survive 18 months is something he said towards the end of Jan.
He’s certainly out of the Trump mould with his comments, and he’s already pissed off Europe before he’s even in the job. Good job I say 😉
Making friends in Europe the Trump way
Trump’s over the moon
The CEO of Intel has said he will invest $7bn in it’s Arizona plant and employ 3000 people.
The plant was built a few years ago but Intel shelved opening it fully claiming market conditions were’t right.
Whether they have done so now after a meeting with POTUS, or whether they were going to re-open it anyway, and thought they’d get some free publicity, is unknown. I know where I’d put my money 😉
Good news for the US anyway and the Trump machine rolls on.
Protectionism starts at home
Nordstrom have responded by saying that it was a business decision and not political. Trump must be losing his touch as Nordstrom’s stock price remains steady 😉
Having the US president as your father isn’t a bad thing when you’ve got to bitch about losing work.
A strange occurrence for the fortunes of the wall
Opinion on a US/Mexico border fence had been looking solid until someone actually stepped up to the plate to say they’d make it happen. Now it’s fallen to the lowest for years, as the folks @FiveThirtyEight point out.
Give people what they want and they still don’t like it.
The Ayatollah of Iran takes a swipe at Trump and the US
I hope he actually called Trump “Mr Newcomer” and it’s not a translation thing as that’s hilarious.
The Ayatollah has never been one to pass up a comment slagging off the United States so this is par for the course.
AP with the full story.
Fire up the twitter Donald!!
He’s awake folks and giving us the usual morning pearls of wisdom.