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- Insider Trading?
I believe T Bone mentioned this in the comments the other day (sorry if it was someone else, comments in Beehiiv are hard to search), but the way that Trump and Co are working the tariffs makes you wonder if someone is profiting from the ups and downs:
Donald Trump is facing accusations of market manipulation after posting on social media that it was a “great time to buy” just hours before he made a dramatic U-turn on his trade war that led to big rises in stock markets around the world.
Shortly after US markets opened on Wednesday morning, Trump wrote on his social media platform Truth Social: “THIS IS A GREAT TIME TO BUY!!! DJT”.
Less than four hours later, he shocked investors by announcing a 90-day pause on additional trade tariffs on most countries except China, sending share indexes soaring.
There’s so much corruption nowadays, we’re fucking soaking in it, but the lack of regulation of Congressional stock purchases is certainly not a good thing. My former Congresswoman, Louise Slaughter, tried to rein this in with the STOCK Act barring insider trading, but Trump’s recent signaling isn’t really insider trading. It’s more like open corruption.
Anyway, this:
Senators Murphy and Schiff are also making noise about this.
I’d go a step further than AOC — Members of Congress should have to put their assets into blind trusts and should not be allowed to trade stocks. Pay them more if that’s a burden.
That all said, the market seems to have figured out that a massive tariff on China is still a disruption, and the two meme stocks are taking a hit. Womp womp:
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