Wall St. is misreading Trump, and a market bloodbath is imminent

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Wall St. is misreading Trump, and a market bloodbath is imminent

Wall St. is misreading Trump, and a market bloodbath is imminent

CNBC-

Former top federal budget official David Stockman has a stark warning for investors: There’s going to be a disaster in Washington and you’re not going to see it coming.

Stockman, an ardent critic of President Donald Trump, has strong doubts that the rosy view investors are taking on the economy can hold water in the near-term. As usual, he didn’t mince words when explaining his perspective to CNBC.

Last week, the Dow Jones Industrial Average and S&P 500 Index jumped following Trump’s speech to Congress, with markets growing more bullish about the Trump policy agenda. Yet since Wednesday, both indexes have failed to continue the trend of new highs.

[CNBC]

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