Funny how that works. The same imbeciles who clamored for two years that President Trump had nothing to do with the historic gains in the stock market are now blaming him for the precipitous drop brought on by eight successive prime rate hikes by the Fed.

I try to forget that these unfortunate souls know nothing of economics or even rudimentary math and haven’t stumbled upon an original idea since they discovered masturbation, but, frankly, it gets old listening to their drivel. “The market is tanking because Trump is a loser.” “The market would be fine if Trump would resign.” Yada, yada, ad nauseam.

The facts are that immediately upon candidate Trump’s election, in anticipation of his promise to reduce the corporate tax rate and other business-friendly economic policies, the market took off like an Amazon porch pirate fleeing the next door neighbor and his shotgun.

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When President Trump made good on his promises, the market continued its pattern of historic gains despite the Fed raising the prime six times in a year and a half, the first rate hike coming before President-Elect Trump was even inaugurated. Six successive rate hikes failed to dampen the confidence of investors as they continued to pour their cash into the market.

The Fed’s seventh rate hike on September 27, 2018, finally got the attention of investors and they began to pull back, causing the market to enter a period of volatility and instability, with wild fluctuations in market performance.

In the three-month period between Powell’s September rate hike and December rate hike, the Dow tanked nearly 2,800 points, a sign that would tell any sane economist that the latest rate hike was disastrous to the market. Ideally, Powell should have dropped the prime 1/4 of a point to restore investor confidence. At the least, he should have done nothing. Despite the sputtering, erratic, tanking market, Fed Chairman Jay Powell raised the prime yet again four days ago, December 20.

In the five days since Powell announced his latest rate hike, the Dow has continued to tank, dropping another 2,200 points, making it a 5,000-point nosedive since the October 3 peak, a stunning 18.8%.

Today was the most disastrous Christmas Eve in the history of the Dow Jones Industrial Average, dropping 653 points.

Interest rate hikes by the Fed have always been in response to one primary economic condition – inflationary pressure, except there hasn’t been any unusual inflation to speak of over the past two years. The only assumption one can make is that the rate hikes are political and designed to deliberately damage the market, which we are now witnessing. This has an especially disastrous effect on investors and owners of 401Ks.

The market reaction to the Fed’s continued rate hikes is not unexpected by anyone who understands the US economy, the market, and its predictable behavior in response to Federal Reserve rate hikes.

So, what can be done to avert a total catastrophe? President Trump must fire Fed Chairman Jay Powell and any other member of the Board of Governors who voted for the prosperity-killing rate hikes.

As explained in a Powdered Wig article last week, President Trump can and must fire Powell, and it must happen soon. Powell and the Democrats have no problem driving every man, woman, and child in America into abject poverty, so long as they control the reins of power. They have no conscience. They are soulless parasites.

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Facebook has shut down our pages and our marketing source, thus demonetizing us by 98% for the crime of being conservative patriots. Help us keep the lights on and the message alive by donating anything you can, and please, share this link everywhere…. https://www.gofundme.com/powdered-wig-society