CNBC Analyst Likens Trump Autographing Market Chart To Bush’s Premature ‘Mission Accomplished’ On Iraq
CNBC analyst and financial adviser Josh Brown warned Monday on MSNBC Live With Stephanie Ruhle that President Donald Trump might have celebrating the markets too early on Friday, likening the move to when former President George W. Bush infamously declared “mission accomplished” on the Iraq War.
“While the president was speaking, my phone was littered with investors saying, see, this is the president we’ve been looking for for the past three years. He brought in some real guys to tackle the problem,” Ruhle said.
“That was Friday. The market went up 2,000 points. It’s already down over 2,000, and we’re four minutes into trading,” the MSNBC anchor said to Brown.
Brown then called out the premature celebration by Trump, citing the signed copies of the market’s rise, including one copy to Fox Business’ Lou Dobbs, that he sent out Friday.
“Yeah, so I would say autographing the five-minute chart of the market’s performance on Friday will go down in history along the same lines as George W. Bush with the “Mission Accomplished” banner on the aircraft carrier. It’s pretty much the same thing,” Brown stated.
“I think from a market standpoint; I do believe that Wall Street now thinks that the administration has gotten as serious as it needs to. It doesn’t mean the tweets will get any smarter, and it doesn’t mean he won’t still be obsessed with the stock market. But I do think Wall Street thinks the administration is engaged. That being said, this is about so much more than where the Dow Jones closes at the end of today or tomorrow.”
“This is literally about the livelihood of millions of people, many of whom are now locked inside their homes,” Brown warned.
The financial advisor concluded, “So the stock market, I hate to say this, as somebody who manages money for a living. The stock market is secondary to the health crisis. The good news is there’s no more denial about the health crisis. And the markets have already begun pricing in some pretty dire scenarios.”
Watch above, via MSNBC.
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