Wall Street banking giant JP Morgan has created what they call the "Volfefe Index" so they can better track how Trump's tweets are affecting global markets. Bank of America has already warned that Trump's Twitter habits are causing market crashes, and now the rest of the banking world seems to be starting to work, as it costs them millions of dollars. Farron's Cousins of the Ring of Fire discuss this.
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* This transcript was generated by a third-party transcription software company, so please excuse all typographical errors.
Last week, we told you about the fact that Bank of America Meryl Lynch had to go out and basically tell people, warn people that they were 401,000, be in danger because they analyzed Trump's tweets and watched the market and compared the days when Trump tweets more than 35 times a day. Market tanks, watch out for these days. Watch your 401k because it's getting pretty bad these days. Well, there won't be any of the big Wall Street banks that follow on Twitter. J P Morgan has now created what they call the vol fefa index, which is a combination of word variability. And Trump coined the word coheafe. Thus, the Vol Fefa Index, which JP Morgan has created, basically tracks Donald Trump's tweets and market reactions to them. Now that JP Morgan created this, they said they didn't take any specific tweet, uh, and they fit it. But what did they find out what common words that would cause the market to collapse? And here are these words, China's billions of products. When Trump starts sending tweets containing one of those three words, or worse, all three words, the market panics and he starts losing tons and tons of money.
I mean, it was an average of $ 600 million a day and sales in August alone, and now they're looking back, saying a lot of it has to do with Donald Trump's Twitter feed,
and I know many conservatives out there think Donald Trump's posting on Twitter is phenomenal. He is there, letting the Liberals have it, calling them names of people, he just totally owns them. Left and right, it also destroys your 401,000, and for rich people, those who put Donald Trump and other Republicans in office, well, you also lose a lot of money. Although I have no sympathy for you, I hope you lose every single thing you ever did. These are people with 401k. These are retirement plans. People who still work their asses every day pay into retirement plans, hoping they are responsible with their money and can get a decent retirement. They lose this opportunity because of Chief Moron. We can't stay off Twitter for five minutes. This is not fair to these people. Even if they are Trump supporters, they still have never signed up for it, and that's not right. This is not fair to them. Another part of the problem, however, is just the general volatility of the stock market. I mean, we are based, I want to say this basically at the core of our economy, this fictional thing.
Stocks are made up, I don't know if you realize it, but stocks are made up. When a company is formed, they decide how many shares they create from the air and then we can just sell those things that don't really exist to other people. And they will give us money and then we will use it to do things. But if they want to return it to us and we have to pay them money to get back the fake thing we just came up with. I mean, when you really start to put some holes in it, the stock market is one of the dumbest things on the planet. I know he helped the business and probably he probably helped. Some people make a hell of a lot of money, but it's totally useless. He is too fickle. The president can say one stupid thing and send the market into a panic, which is not fair to the entire US economy. I think it's time to end the stock market.
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