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Donald Trump destabilizes the markets

July 31, 2020

July 31, 2020

Dollar spills the beansDmitri Demidenko

A man’s ruin lies in his tongue

Beware of your own wishes, as they do come true. On the eve of elections, presidents hold on to power so tightly with their hands that they forget that it is not at all easy to bear the burden of power. Every word you say becomes, at best, a reason for jokes, at worst, it provokes serious changes in the views of the electorate and in financial markets. It all depends on the country you are running. And if some leaders claim that coronavirus is a mass psychosis and does not exist at all and get away with it; a phrase “shouldn’t we delay the election?” may cost other leaders their offices.

![LiteForex: Donald Trump destabilizes the markets][1]

2020 for the 45th President of the United States began well but will most likely end badly. The longest economic expansion in history, the record highs of the [S&P 500][2] and the signing of a trade agreement with China that looked more like a tribute. Reelection for another term, it seemed, was in the bag, and then the bad news came from China. The pandemic and recession, which seemed unimaginable back in February, turned everything upside down. And in July, the master of the White House has to think about how to save face if things go bad, how to explain his defeat if it happens?

If it seems to you that no one loves you, it is true. Donald Trump has a lot of experience in finding somebody to blame. Who hasn’t been an enemy of America! Jerome Powell who kept the rates too high and thus made things harder for exporters; China, which has exploited unfair competition for decades and is about to overtake the United States because past US presidents turned a blind eye to it. Three months before the election, it is the Democrats’ turn. They took advantage of the pandemic and invented a mail-order vote, so the 2020 presidential election will be the most dishonest and corrupt ever. Instead of making everyone use personal protective equipment! However, everyone knows that the most law-abiding category of citizens who wear gloves and masks in public are robbers.

![LiteForex: Donald Trump destabilizes the markets][3]

It is no coincidence that Trump’s tweet about the delay of the election came out immediately after the release of US GDP data for the second quarter. The GDP shrank at an annual rate of 32%, the worst since the 1940s. Previously, the US president repeatedly highlighted the success of the labour market and strong data on the gross domestic product, making it clear that the strong economy is an important part of his campaign platform. All that remains for him is to mutter: I need someone like you, but not you and not like that.

Perhaps Trump used to think that nothing spoils a wedding like a priest’s erection, but now he realizes that there are things that are much worse. Most of his promises, including that of accelerating GDP to 3% and bringing China to its knees, never came true, and it remains only to blame someone else and come up with reasons to justify the future defeat. There is one good thing about it all - Trump is not alone. President Lukashenko in Belarus also promised to give $500 to everyone once but never fulfilled this promise. Indeed, some tongues need a stapler. Especially if these are the tongues of people in power.

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Price chart of SPX in real time mode

![Dollar spills the beans][6]

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.

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