Democrat takeover of the House has put the stock markets into a tailspin
President Trump has been proven right after warning America's rich that voting for Democrats in the 2018 midterms would crash U.S. stock markets.Democrat policies will be detrimental to the economy and to job growth. That is what the markets are telling us.
The president took to Twitter on October 31 to warn: "The Stock Market is up massively since the Election, but is now taking a little pause – people want to see what happens with the Midterms. If you want your Stocks to go down, I strongly suggest voting Democrat. They like the Venezuela financial model, High Taxes & Open Borders! Maybe it's time to rebrand the Democrats as the party of the rich."
Many progressive Democrats have been cheering for an American economic disaster, if it would politically undermine Donald Trump's populist support. The host of Politically Incorrect, Bill Maher, who has am over $100 million net worth, passionately stated in June:
I think one way to get rid of Trump is a crashing economy. So please bring on a recession. Sorry if it hurts people, but its either root for a recession or lose your democracy.Maher seems to be getting his wish since the November 6 elections. The Standard & Poor's 500 stock index led by Silicon Valley tech giant shares is down 10.6 percent in the month for the worst December plunge since 1931 during the Great Depression.
Although Democrats claim to be the party of social justice for the poor, Williams College political science professor Darrel Paul's 2018 analysis of wealthy Congressional districts found that the real story surrounding the Democrat's 40-seat gain to take control of the U.S. House of Representatives was due to "the swing of the rich toward the Democrats."