Michael Cohen

With the stock market on track for worst year since 2008, who’s to blame?

In nearly two years of lots of political upheaval, this week felt especially chaotic.

Special Counsel Mueller investigation seems to be nearing its conclusion, and Trump’s former National Security Advisor Michael Flynn may have been accused of treason by a federal judge.

Source:wsj.com

Trump’s personal lawyer Michael Cohen is going to jail for three years, and the government is about to shut down over a high-stakes game of political chess over the President’s desired $5 billion in border wall funding.

The Federal Reserve moved ahead with rate increases, and President Trump announced he’s pulling troops out of Syria, despite counsel otherwise from all of America’s top brass and amidst criticism from congressional Republicans and prominent GOP commentators.

Source:seekingalpha.com

General Mattis, Secretary of Defense, resigned and long-embroiled Secretary of the Interior Ryan Zinke is also on his way out, plus Chief of Staff John Kelly said his adieus.

All this turbulence politically, both here and abroad, and the markets certainly reacted. We see constant movement of the figures, and this state certainly isn’t healthy for most people working in the industry. Will it change in the near future? Not likely, it is how the politics work at the moment.

By all accounts, it was a brutal week on Wall Street as stocks fell again on Friday, following a very rough week of losses. The NASDAQ is back in a bear market, and stocks are on track for the worst December since the Great Depression. All three major indexes are on price for their worst year since 2008.

Source:cnbc.com

CNN Business reports:

“President Trump took full ownership of the stock market boom. That unusual strategy is backfiring now that markets are crumbling.”

We have to wonder what Trump’s plan is now, especially with Nancy Pelosi getting ready to take back the mantle of power in Congress and thwart the President at every turn.

Turning Point of Donald Trump’s Presidency

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Donald Trump has been leading the United States for almost two years, even though nobody expected him to win at the US elections. Some are happy to have Trump as the president, but many are “stuck” with him, and they cannot wait to see his back. So far, his presidency has been tumultuous, but the next week or two are going to be the turning point. After the upcoming weeks, we are going to know the course for the remaining months with Trump as the leader.

First of all, on Monday, the jury in former Trump campaign chairman Paul Manafort’s trial will enter the third day of deliberation. This case is about Manafort’s relationship with the Ukrainian government before he became the head of Trump’s campaign on the presidential election. We also have to point out that former FBI chief Robert Mueller led the investigation about the special counsel probe and Russian interference in the 2016 elections and Manafort’s trial grew out of it. If Manafort were to be convicted, it would provide momentum for the special counsel’s office in advance of the release of Muelle’s report on his investigation. In case that he walks free, he is going to be tried in Washington on similar charges and POTUS will have more reasons to push his “witch hunt” story as true.

image source: wbur.org

Secondly, according to various reports, federal prosecutors are prepping charges against former Trump personal attorney Michael Cohen who has been connected to several suspicious bank loans and who potentially violated campaign finance rules. Cohen has also been involved with the payoffs he made to women that accused Trump of having an affair with them.

“My wife, my daughter, and my son have my first loyalty and always will,” Cohen told ABC News’ George Stephanopoulos in early July. “I put family and country first.” Earlier this month, sources close to Cohen told CNN that Cohen wanted to testify to Mueller that Donald Trump knew about the meeting that took place in June 2016 between Donald Trump Jr. and the other Trump campaign leaders and several Russians. However, the current president has negated such claims.

Thirdly, we are entering the final stages of protected negotiations between Trump’s legal team and special counsel’s office about whether Trump and Mueller should meet, with the president being the one answering questions. Trump’s lawyer Rudi Giuliani said that Mueller’s investigators “have taken 2-3 weeks to get back to us, so what I have to tell you is, look, I am not going to be rushed into having him testify so that he gets trapped into perjury.” So far it is unknown whether Trump will meet with Mueller, but soon we will learn what the decision is.

image source: kiplinger.com

All of these events are interwoven, and one could alter the others. For instance, if Manafort is found not guilty, it will only strengthen Trump’s position, and he will find no reason to sit down with Mueller and accidentally disclose something that shouldn’t be out in the open. Even with Cohen’s plea, the president wouldn’t have reasons to talk to Mueller. On the other hand, if Manafort is found guilty, then Cohen is charged and cuts a plea agreement with the special counsel’s office. In this case, POTUS would be under pressure to talk to Mueller because otherwise, people would think that he is hiding something even if he doesn’t.

And throughout all this, Trump kept tweeting. There were some usual tweets, one of which was: “Disgraced and discredited Bob Mueller and his whole group of Angry Democrat Thugs spent over 30 hours with the White House Counsel, only with my approval, for purposes of transparency.” So far we had words and assumptions. In the upcoming weeks, we will see action and those actions could have major or minor consequences on Trump’s presidency and policy.