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Donald Trump Holds a Micro Press Conference, Comes Off As an Idiot

Mother Jones

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We’ve had a busy day of Trump news. I know you all want to be on top of things, so here’s the latest. First, Trump was asked what he thought about Sen. Lindsey Graham’s statement that sanctions were due against Russia and Vladimir Putin for their hacking during the election. Check out his reply:

I think that computers have complicated lives very greatly. The whole age of computer has made it where nobody knows exactly what is going on. We have speed, we have a lot of other things, but I’m not sure we have the kind the security we need. But I have not spoken with the senators and I will certainly will be over a period of time.

Later, asked about Israeli settlements on the West Bank, Trump produced another bit of word salad that made it clear he had no idea what a settlement even was. This is probably why Trump hasn’t spoken to the press in such a long time. This kind of callow blather might have been entertaining when it was coming from a buffoon candidate who had no chance of winning,1 but not when it’s coming from the president-elect.

In other news, Politico reports that Trump was irritated by President Obama’s comments at Pearl Harbor yesterday. Obama said, “even when hatred burns hottest, even when the tug of tribalism is at its most primal, we must resist the urge to turn inward. We must resist the urge to demonize those who are different.” Those are fairly boilerplate remarks, but “these felt to Trump like direct criticism of the president-elect, according to two people close to Trump.” Gee, I wonder why?

Finally, Trump announced that Sprint was bringing 5,000 jobs back to America. “I just spoke with the head person,” Trump told Bloomberg. “He said because of me they’re doing 5,000 jobs in this country.” Here’s how it played in the nation’s press:

The skepticism in these headlines turns out to be warranted. Trump did indeed desperately try to take credit for this, and you will be unsurprised to learn that he was lying. First of all, Sprint announced these jobs back in April. Here’s the Kansas City Star: “Sprint Corp. is launching a nationwide service to hand-deliver new phones to customers in their homes. The Direct 2 You service, which first rolled out in a Kansas City pilot, will lead to the hiring of about 5,000 mostly full-time employees as it spreads nationwide.”

Second, the Japanese owner of Sprint, Softbank, announced in October that it was creating a huge tech investment fund.

Third, in December, Softbank’s CEO announced the fund again after a meeting with Trump, and said that one part of the whole package was the creation of 50,000 new jobs. Today, Sprint reluctantly conceded that its 5,000 jobs were part of the previously announced 50,000 jobs.

And finally, these jobs were announced yet again today.

That makes four times these jobs have been announced. Donald Trump was responsible for none of them.

1Actually, it wasn’t entertaining even back then.

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Donald Trump Holds a Micro Press Conference, Comes Off As an Idiot

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Donald Trump Is Once Again the Day Trader in Chief

Mother Jones

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Early this morning Donald Trump launched another one of his famously random tweets:

The F-35 program is pretty famously over budget. I don’t think anyone will argue with Trump about that. But Christopher Bouzy asks an interesting question. Here’s a chart showing Lockheed Martin’s stock price today:

Bouzy wonders if someone profited by knowing about Trump’s tweet a few minutes before it went out. This is a reasonable suspicion if you look at tweeting and trading times down to the minute, but if you look at them down to the second you get a different picture. Trump’s tweet went out at 8:26:13 and there were a flurry of small trades ten seconds later, followed by a second flurry three seconds after that. This caused Lockheed Martin’s price to drop considerably, but only because pre-market trading volume is pretty low and illiquid, so even a smallish trade can send prices down. Most likely, these flurries were day traders who happened to see Trump’s tweet and acted instantly, or perhaps some kind of bot that reacts to Trump tweets.1

But even if there was no hanky panky, our president-elect still seems to have had an effect: Lockheed Martin stock traded very heavily today and closed down by more than two percent. Coincidence? Or a response to Trump’s tweet?

This revives a question we asked last week after Trump tweeted about Softbank, sending Sprint and T-Mobile stock upward. Do we really want the president of the United States calling out individual corporations and affecting their stock prices? Do we really want to be left wondering if maybe someone had a little advance knowledge of Trump’s tweets? That doesn’t seem to have been the case today, but if you knew a day ahead, for example, your trade would get lost in the noise and no one would ever know.

I assume the answer to these questions is no, isn’t it?

1Ridiculous? Not at all. I’d be surprised if someone hasn’t done this.

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Donald Trump Is Once Again the Day Trader in Chief

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