Turbulence on the financial markets, paralysis of part of the US government services and the remarkable dismissal of the US Secretary of Defense: the Democrats accused Donald Trump of throwing the US “in chaos” on Christmas Monday. Meanwhile, it does not look like a solution is in the making for the shutdown.
Since Friday midnight, both Republicans and Democrats have given each other the responsibility of the budgetary stalemate leading to a partial closure or shutdown of government services. However, the problem can be reduced to one point: the financing of a border wall with Mexico, an election promise by Donald Trump in 2016. The Democrats do not want to know about such a wall.
The only problem our economy has is the Fed. They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!
— Donald J. Trump (@realDonaldTrump) December 24, 2018
“We are on the eve of Christmas and President Trump is throwing the country into chaos,” say Nancy Pelosi, Democrat party leader in the House of Representatives, and Chuck Schumer, her counterpart in the Senate. ‘The stock market collapses while the president is fighting a personal war with the central bank, just after he has dismissed his defense minister.’
No compromise in sight
On Monday evening, President Trump had to confirm that there is no compromise in sight. He sticks to his boundary wall. “No news about the shutdown. We need more safety at the border. “Due to the shutdown, certain government services have been shut down.
Because of the ‘shutdown’, Trump decided not to spend the end of year celebrations in the sun-drenched state of Florida, where his golf club is located. Instead, he stays in Washington. With a storm of tweets (17 in less than 24 hours) he now defends his policy from there.
“I’m waiting alone in the White House (poor me) until the Democrats return to conclude a deal about much-needed border security,” he tweeted.
Dow Jones ends under 21,800 points
Due to the problems in the US, the US stock exchanges were closed in minor terms on Monday. The most important indicators on Wall Street thus continue the line from last week. The shutdown caused concern for investors, as did reports that President Donald Trump wanted to dismiss Fed boss Jerome Powell. The Dow-Jones index closed the reduced trading day 2.9 percent lower at 21,792.20 points. Never before has the Dow Jones performed so badly on Christmas Eve. The broad S & P 500 also set a new record. This gauge yielded 2.7 percent to 2,351.10 points. Techbeurs Nasdaq went down 2.2 percent to 6,192.92 points.
President Donald Trump also caused some turmoil on the stock market on Monday by taking a heavy out of the way to the Fed. He called the Federal Reserve the only problem of the economy in his country. Trump tweeted that the American umbrella of central banks has “no feeling for the market”. According to him, the Fed also does not understand ‘necessary trade wars, the strong dollar or even Democratic shutdowns because of the border’. Trump further compared the Fed with a strong golfer who can hit very hard and far, but the finesse is missing when it comes to wells. After the tweet, the Dow Jones lost more than 500 points, only to light up again afterwards.