“Some on Wall Street are beginning to sound the alarm that the fast times can’t last,” Politico writes in a Monday article titled “‘Uncertainty is rising’: Stock market turbulence could spell trouble for Trump,” the ESPN of politics warns that this season could be rough for the defending champs as the season ticket holder-type fans are already tiring of the team captain’s mental health struggles.
“For good or bad, depending on your politics, we’re back to the chaos presidency,” said hedge fund manager Jim Chanos, who Politico says bet against Enron and other failing companies, so he knows hi shit. “Whatever you might think about the Biden administration, if you were a market participant, you generally didn’t need to check your Twitter feed the first thing in the morning when you woke up just to see what was said. But we’re back to that, and with that, comes probably more volatility.”
Financial industry lobbyist Ed Hill says maybe Trump shouldn’t have made the stock market an indicator of his success as president. “Everyone who puts on the nightly news or even watches Twitter knows what the stock market does every day. It’s become a preferred measure of the economy, even though we all know it doesn’t really reflect the economy. People are going to be very sensitive. This administration particularly is going to be very sensitive to markets.”