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Welch: If You Impeach Trump, Market Collapses

On CNBC Wednesday, Former General Electric CEO Jack Welch knocked President Trump for his “crappy management practices” in handling FBI Director James Comey, but warned that impeaching Trump would “blow the market away.”

Welch, who CNBC notes “has President Donald Trump’s ear,” discussed all the talk of impeaching Trump on CNBC’s Squawk Box on Wednesday (video below). Though Welch admitted Trump made a “rookie mistake” in firing Comey the way he did, the former CEO largely defended his fellow businessman. But most notable of all Welch’s statements was his warning about the potential impact of a Trump impeachment on the stock market.

Since Trump’s electoral victory, the stock market has been booming, both the S&P 500 and Nasdaq closing at record highs earlier this week, while the Dow Jones is at a near record. Following a series of allegations against Trump over the last few days, the dollar index hit a seven-month low early Wednesday, while U.S. bonds sank and gold rose.

“An impeachment proceeding would blow the market away,” Welch told CNBC.

Though Welch gave Trump a “D minus” for his management skills, Welch rated him highly on the economy and generally promoting the conservative agenda, saying, “I think without question we have a guy that’s on the right agenda with crappy management practices.”

While Welch wouldn’t specifically comment on Trump’s alleged attempt to influence the FBI investigation into former adviser Michael Flynn, he did weigh in on Trump’s treatment of Comey. Trump, said Welch, wasn’t going to “make any friends” by handling situations like he handled the firing of Comey. Trump, said the former CEO, should have treated Comey as kindly on his way out as he did when the new president first came into office.

As for his priorities now, Welch suggested Trump needs to focus on uniting his administration and the Republican Party.

Though Welch didn’t shy away from faulting Trump on his “management practices,” he also highlighted some of the president’s key successes thus far, giving Trump an “A” on improving the overall “confidence” of American businesses and on his Cabinet and Supreme Court choices.

 

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source: http://www.dailywire.com/news/16555/jack-welch-warns-if-you-impeach-trump-market-james-barrett


  • Alberto Bencivenga

    Who cares? The market has to obey the laws and serve human beings,not the other way around as Wall Streeet, criminally, thinks

    • gvette

      Things that go on in our country, and around the world, have affect on the market.

  • COPLEYCAR

    Pres. Trump as i remember Did not like the way Comey let Hillary and others off the hook or just didn’t investigate as the FBI should. He felt as many, many Americans that it was all part of a Clinton/Obama criminal syndicate which it really was, Lets investigate the real enemies of America n the Obama presidency, talk about Russian conflict, selling 20% of our uranium ore to Russia via Canada by the Clintons and Obama had to agree upon it as a red blooded American i feel that’s treason, no matter which way you look at it, that’s if they felt Russia was a threat as it seems they do by trying to connect Trump to Russian collusion. How about all the other things/crimes the Obama administration and Hillary committed over the 8 yrs in office. Interferon into other elections? Down playing American exceptualism,, interfering and changing countries leaders with force,(Egypt,Libia pulling out of Iraq too early creating a vacuum that created Isis) How about Bill Clinton meeting with attorney general on the Tarmac in AZ-Nothing to see here!! So many others its hard to keep track, Besides the Democrat party started the Russian talking point to through off President Trump as collusion even before the election, what about Bill and Hillary Clinton connection to Russia, after all they received over 5 million that we know of from Russian sources, Where is the outrage over all this anti-American rubbish? How about the Obama administration spying on regular conservative Americans and candidates during an election? America wake the heck up, figure whom our true enemies within our own gov are! So far listening to Donald Trump even years before running for president wants to give back to regular patriot Americans his leadership to make America Great Again. Too bad the our elected officials in the senate and houase do not feel the same all they care about is getting rich off the backs of Americans!! And one last thing when is the FBI going to go after the true threats to America,”George Soros” and the Tides foundation and all other anti-American organization that’s committing treason and Sedation against America? Wake up folks, tell the FBI to investigate the true criminals that will lead to the destruction of our great nation!