President Donald Trump has a message for Washington and Wall Street: The US economy would topple if he were impeached, as legal mess troubling the White House has experts saying his presidency is under threat.
Michael Dean Cohen, who worked as a lawyer for Donald Trump, told a federal judge he made illegal campaign endowments at the president’s plea – to silence women alleging affairs with Trump.
The Big Cheeto then hurled into a long-winded statement on job creation and other economic headway he said had been contrived during his prefecture.
“I don’t know how you can impeach somebody who has done a great job,” Trump said.
The president has insisted, he did nothing amiss after Cohen, accused him in the illicit muffle payments made before the 2016 election to two women, who made proceedings with the Republican presidential candidate. The dark day for Trump immediately caused analysts and political strategists to speculate about impeachment, but investors are not bothered so far.
“Ivan Feinseth, the chief market strategist of Tigress Financial Intelligence, wrote to clients on Thursday. “The market seems to ignore President Trump’s endless controversies and crazy comments.
‘2018 is not 1974’
In 1973, The United States piped into recession, oil prices quadrupled, and the US dollar dropped. Today’s economy is cruising. The US dollar remains strong, and oil prices remain far off their 2014 peak. The S&P 500 has zoomed 34% higher since Trump’s victory. The Dow went from 18,333 to 26,000 today.
“2018 is not 1974, things are very different.” Nicholas Colas, the co-founder of DataTrek Research, wrote to clients on Thursday.
There is a big difference between impeachment and removal from office, and it’s not clear which scenario Trump was referring to. The House would need only a simple majority to impeach the president. But removal from office requires a two-thirds majority in the Senate, making it unlikely, even if Democrats took control.
In any case, a Trump removal would leave Pence in charge, who would support the same pro-business policies. Finally, sources proclaim “It would be the Trump policies, without the bombastic personality.”