The MeidasTouch Podcast - Trump Gets SLAPPED IN HIS FACE by PISSED OFF Market

MeidasTouch host Ben Meiselas reports on Donald Trump causing serious unease in the markets by his horrible plans. Get you FREE Quote today at https://SelectQuote.com today!Visit https://meidastouch.com for more!Remember to subscribe to ALL the MeidasTouch Network Podcasts:MeidasTouch: https://www.meidastouch.com/tag/meidastouch-podcastLegal AF: https://www.meidastouch.com/tag/legal-afMissTrial: https://meidasnews.com/tag/miss-trialThe PoliticsGirl Podcast: https://www.meidastouch.com/tag/the-politicsgirl-podcastThe Influence Continuum: https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassanMea Culpa with Michael Cohen: https://www.meidastouch.com/tag/mea-culpa-with-michael-cohenThe Weekend Show: https://www.meidastouch.com/tag/the-weekend-showBurn the Boats: https://www.meidastouch.com/tag/burn-the-boatsMajority 54: https://www.meidastouch.com/tag/majority-54Political Beatdown: https://www.meidastouch.com/tag/political-beatdownOn Democracy with FP Wellman: https://www.meidastouch.com/tag/on-democracy-with-fpwellmanUncovered: https://www.meidastouch.com/tag/maga-uncoveredCoalition of the Sane: https://meidasnews.com/tag/coalition-of-the-sane

Duration: 13m
Broadcast on: 29 Dec 2024
Audio Format: other

You know, to all the big tech out there, you're going to f around and find out. I mean, Donald Trump was sending a message to Elon Musk publicly on Trump's social media platform that Bill Gates asked to go and meet at Mar-a-Lago and Donald Trump's like, "Elon, when are you coming back to Mar-a-Lago?" We've seen big tech show up at Mar-a-Lago and kiss the ring. Well, here's the headline, Markets Stumble as Wall Street sells off big tech. Perhaps big techs realized with all of its stock buybacks and all of its kind of gimmicks that it is going to be exposed. So perhaps it's cozying up to Donald Trump because it wants itself to have a bailout. Perhaps that's one of the things that's going on. I mean, look, take a look at the stock market again on Friday. The Dow Jones was down almost a percent. It was down 333 points. The Nasdaq was down almost 1.5 percent. It was down nearly 300 points. The S&P 500 was down 1.11 percent down 66.75 points. And as CNN reports, Markets Stumble as Wall Street sells off big tech. I did a report earlier this week about how all of these companies are have valuations that far exceed what they actually should be based upon their earnings, based upon their revenue, and based upon their EBITDA or profits. Here's the headline from CNN. Markets Stumble as Wall Street sells off big tech. US stocks ended Friday in the red, closing out a lackluster week despite a year of historic highs. I wonder what was happening earlier in the year with those historic highs who was in power at that point when we would be doing these reports and we would be hearing another record close. The Dow, the Nasdaq, the S&P is setting another record. By the way, y'all remember? What was it two weeks ago or three weeks ago at this point when Donald Trump went to the New York Stock Exchange and all three of the indexes, the Dow, the S&P, and the Nasdaq went down when Donald Trump was there and brought out all of his propaganda stuff. And then Donald Trump was asked by Jim Kramer, the CNBC business host, or he's masquerading as that's so Donald. Should American workers invest in the stock market? Y'all remember what Trump said? Trump said, "I don't know." It was a softball question. Should American workers invest in the stock market? You are Mr. accordion hands. You've made all of these promises. Trump goes, "I don't know. I'd be worried. If there's a dip, they're going to get hurt. If there's a dip, they're going to be hurt." That's the message you're sending to the markets seriously. Donald Trump had also said, "He can't control the prices. It's going to be too hard to bring down the price of goods." And look, since the election, egg prices are up, up, up. Mortgage rates are up, up, up. That's not a good thing you want that to be down. Donald Trump already lying about his promises, and we got to hold him accountable. Let's just take a look at this article. The Dow was lower by 333 points. Shares of Tesla closed lower by around 5%, while Amazon, Alphabet, which is Google, Microsoft, and Nvidia, lost about 2%. Most of those people have their CEOs kiss the ring at Mar-a-Lago. The magnificent seven group of high-performing tech stocks, Alphabet, Amazon, Apple, Met and Microsoft, and Nvidia and Tesla, has accounted for more than half of the gains so far this year as they benefit from intense investor focus on ways to play the artificial intelligence boom, according to S&P down Joe's indices. Analysts have long cautioned that the markets' reliance on a handful of names exposes the stock market to potential trouble should the groups stumble. "If you of these companies fail to beat an elevated bar for positive surprises, there is a risk they would also fall together," said Keith Lerner, chief market strategist for Truist Wealth. "I would prefer a broader market where megacap growth stocks do well, and other segments are doing well. So if one area falters, another segment picks up the baton. Bitcoin's tremendous late-year rally also fizzled. As traders look to profit-taking, the cryptocurrency had dropped to around $94,000 by late afternoon on Friday after topping $106,000 earlier this month on hopes that Trump would usher in a crypto-friendly administration. So you may know this about me, but I'm a new father and with everything that's going on in the world. If I wasn't already in protect my family mode, I'm particularly so with all the uncertainty taking place right now. So look, I'm focused on life insurance, so I don't just protect my family now, but I protect them in the future. And so for me,

Transcription truncated.