Trump mentions taxes and financial markets pop the champagne corks – What could go wrong?

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 ๐Ÿ˜‰

taxcuts_orig

 

Who is Trump meeting today?

The Trump schedule today

Hosting some Middle Eastern dignitaries today. Market’s will be on watch for airline stocks though ๐Ÿ˜‰

  • 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

Trump’s EU boy Malloch says Greece is going to leave the Euro

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

โ€œWhether 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.

โ€œWhy 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,โ€

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 ๐Ÿ˜‰

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Making friends in Europe the Trump way

 

Intel wants to pour $7bn into Trump’s America

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 ๐Ÿ˜‰

Good news for the US anyway and the Trump machine rolls on.

#Trump’s day today

Here’s what his Donship has on the agenda today

  • 9:00 am ET Recieves his daily intelligence briefing
  • 9:30 am ET Meets with county sheriffs; Roosevelt Room
  • 10:45 am ET Meets with Veterans Affairs officials; Roosevelt Room
  • 1:30 pm ET Meets with House Oversight Committee Chairman Rep. Jason Chaffetz, R-Utah
  • 3:00 pm ET Meets with Secretary of State Tillerson
  • 5:00 pm ET Hosts Green Berets Qualification Course Young Officers